- Shale Energy Continues Steady Growth in Ohio
- May 16, 2016 | Author: Beth I. Gillin
- Law Firm: McDonald Hopkins LLC - Cleveland Office
- Good news for the shale industry in Ohio.
The shale energy and petrochemicals industry created 724 jobs and 2.6 billion in capital investment in 2015 according to the 2015 annual JobsOhio report. This report also found that in 2015, the shale energy and petrochemicals industry accounted for 7.3 percent of Ohio jobs and 14.1 percent of Ohio Gross State Product.
The U.S. Energy Administration predicts that the Utica and Marcellus Shale Plays will yield 147 trillion cubic feet of natural gas by 2040. According to JobsOhio, 1,600 wells have been drilled in Ohio since February 2011 and more than 1,100 wells are currently in production.
The shale energy industry is primed to continue its steady growth in 2016. The Oregon Clean Energy Center is a combined-cycle natural gas fired generation facility currently under construction in Oregon, Ohio. This facility received an $800 million capital investment and is projected to become the most efficient and advanced turbine-generated energy in the industry.
The plant construction, which is expected to create approximately 500 jobs, is planned to open for commercial operations by July 2017.