According to Rhonda Reda, executive director of the Ohio Oil and Gas Energy Education Program Ohio will see a big ramp up in drilling activity by 2015. The director also made these exciting predictions;
Based on the estimated 2,837 wells that will have been drilled by 2015 oil companies will have paid out $1.6 billion in royalties to landowners, schools businesses and communities.
The industry could reinvest about $14 billion on new exploration and development by 2015.
Between 2011 and 2015, the industry will help create and support more than 204,520 jobs statewide due to the leasing, royalties, exploration, drilling production and pipeline construction activities for the Utica Shale formation in Ohio.
Ms Reda made these remarks at a recent Tuscarawas Oil and Gas Alliance Summit at Kent State University's Tuscarawas campus.