Summary
Big money is being invested in Ohio in anticipation of a 21st century oil and natural gas boom here, but no one knows for sure whether the state can meet those expectations.
The major new target is what geologists call the Utica Shale, a deep rock formation beneath eight states with untapped potential here. Speculation runs high that it could amount to a major deposit. Chesapeake Energy Corp. of Oklahoma City, for example, has reportedly spent $1 billion acquiring leases in Ohio without drilling a producing well, a figure reported by the Wall Street Journal on March 7. The company didn't return repeated calls for comment.See the full content of this document
Extract
Investments Show Ohio Could Be Part of Oil Boom
"There is significant interest from firms out of state, Chesapeake being the biggest example," said Tom Stewart, executive vice president of the Ohio Oil and Gas Association. "They're investing an astonish...
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