A former southwest Ohio lawmaker accused of misleading investors about a company’s financial status and using their money for personal gain is set to go on trial March 23.
Ohio Shale Deposits Rich In ‘Wet Gas’
Listen to the Story
The price of natural gas is near a ten year low and that’s prompted one major producer to pare production from regional wells. But currentÂ market forces favor more development of naturalÂ gas fields in Eastern Ohio.
With continued moderate winter weather and moreÂ wells coming on line ,Â natural gas supplies are near a record. So, prices have dropped sharply, nearly 75 percent since June of 2008. In response, Chesapeake Energy recently announcedÂ it would cut drilling activity in half.Â But, not in Ohio.Â Guernsey CountyÂ extension agent Cliff Little reports more drilling activity in recent months.
“ActuallyÂ Â we’re seeing more well permits put in for Eastern Ohio and it looks like activity is going to be increasing for this portion of the state.”
Eastern Ohio, unlike other areas in the region is rich in so-called “wet gas.”Â Little says.
Ohio State University geologist Jeff Daniels says deeper shale fields hold more complex hydrocarbons.
“And the wet gas hasÂ componentsÂ that are better used for polymers and for other chemical components.”Â Says Daniels.
As a result, energy companies that drill in “wet gas” regions have products other than the natural gas that they can sell. So, if the price of natural gas remains low, companies can sell the propane, helium, butane or even some crude oil produced byÂ “wet gas” wells