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Utica drilling rigs in Ohio continue to decline, records show

The number of drilling rigs in Ohio’s Utica Shale region continues to drop.

There are 27 rigs drilling in Ohio, as of Saturday, the Ohio Department of Natural Resources said. That’s down from 37 rigs Feb. 28 and from 49 rigs Jan. 3, according to state records.

The drop in the rig count comes as commodity prices for oil and natural gas continue to drop. Many drillers have scaled back 2015 operations in eastern Ohio and elsewhere.

Ohio has 1,393 drilled Utica Shale wells, of which 828 are producing.

The U.S. Energy Information Administration said Tuesday that drops in rig counts in three key oil areas foreshadow a growing drop in oil production.

That analysis looked at the Eagle Ford Shale in Texas, the Bakken Shale in North Dakota and the Niobrara Shale in Colorado and neighboring states.

Those three oil areas are projected to produce 24,023 fewer barrels per day in March, the federal agency said.

It is the first decline since the agency published its Drilling Productivity Report in October 2013.

The three areas together are projected to produce 5.6 million barrels per day in March, and that volume is expected to stay the same in April, although it could drop later in the year, the federal agency said.

The Permian Basin in Texas showed an increase of 21,250 barrels per day in March projections, the energy administration said.

In related news, Utica Shale: Weak vs. Strong is coming.

This article was from Vindicator, Youngstown, Ohio and was legally licensed through the NewsCred publisher network.

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