Confab in Cleveland: Utica’s Best Opportunities & Biggest Fears
Several speakers at last week’s Crain’s Cleveland Business Shale Summit 2014 predicted a major ramp-up in drilling in the Utica Shale during 2014. Of note: one speaker said based on his informal survey he believes the number of drilling rigs in the play will zoom from 40 to 60 or more by early next year. Another speaker said the Utica looks and behaves a lot like the Eagle Ford Shale play in Texas–and that’s a very good thing. The biggest fears by those in the know? Over-taxation and over-regulation–both issues very much alive in the state legislature right now.
Here’s an excellent run-down on what happened at the Summit by intrepid reporter Bob Downing from the Akron Beacon Journal, including which counties are believed to hold the best drilling opportunities: