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Friday, June 8, 2012

Ohio Rig Count Almost Doubles in Four Weeks

I have blogged earlier that the decline in natural gas prices is good for the Utica Shale and Ohio as rigs are moved from dry gas fields such as the Haynesville or Fayetteville Shales to wet or mixed fields such as the Utica. According to Baker Hughes the rig count in Ohio has increased to 21 rigs up 3 from the previous week. The rig count in Ohio has almost doubled in the last 4 weeks with the rig count increasing from 12 to 21 rigs. Moving beyond just drilling into developing a natural gas infrastructure MarkWest has announced its intention to provide gathering, processing, fractionation, and marketing services in the Utica. MarkWest Utica will develop natural gas gathering infrastructure primarily in Harrison, Guernsey, and Belmont counties.

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