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Friday, February 27, 2015

Ohio gas production increased 25% over previous quarter.

Ohio oil and gas production rose nicely in the forth quarter of 2014. During the fourth quarter of 2014, Ohio’s horizontal shale wells produced more than 3.5 million barrels of oil and nearly 165 billion cubic feet of natural gas. That amounted to a 18.1% increase in oil and a 25.6% in gas production over the previous quarter. Of the 779 wells reporting production results, the average amount of oil produced was 4,568 barrels. The average amount of gas produced was 211 million cubic feet. The top gas producer was the Schroyer well in Monroe County which produced nearly 1.9 billion cubic feet. As I have previously written, 1 billion cubic feet is enough gas to heat 24,315 homes for 1 year.

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