Belmont County | Energy Services | Ethane | Industrywide Issues | Ohio | Processing Plants | PTT Global
Ohio Cracker Plant Air Permit Expires, PTT Filing for New Permit
Last August, PTT Global Chemical finally came clean and admitted there will be no final investment decision (FID) to build a $10 billion ethane cracker plant project in Belmont County, OH, until they secure a partner to help finance the project (see PTT Finally Admits Truth – Ohio Cracker Project on Indefinite Hold). In other words, the Ohio cracker is on indefinite hold. Yet PTT continues to mouth support for the project.
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Last week the number of new shale permits issued for the three M-U states more than doubled from the previous week. Four weeks ago there were 
Holy smokes! What just happened? For months (and months and months) the cumulative number of weekly permits issued to drill new shale wells in the Marcellus/Utica has fluctuated from the low teens to perhaps 30 total on the upper end. Last week, from Jan. 17-23, an amazing 61 permits were issued to drill new shale wells. Double the usual. Wow! Pennsylvania issued 24 new permits, Ohio issued 9, and blow-the-doors-off-we’ve-never-seen-so-many-permits-issued-in-one-week for West Virginia, the Mountain State issued 28 new shale permits.
Economists are still analyzing the impact of the coronavirus pandemic from 2020, let alone assessing impacts from 2021. Cleveland State University researchers have run the numbers and have discovered something interesting. Of Ohio’s 88 counties, only 18 grew their economies in 2020. Of those 18, two counties stood head and shoulders above the rest for increases in economic activity. Both counties have something in common: Utica Shale drilling.
Over the years we’ve covered a number of stories about companies buying future royalty payments from landowners (and rights owners) for an upfront, one lump sum payment now. Back in May, we told you about a relative newcomer to our region doing this, Verde Bio Holdings (see 
We have some exciting, and exclusive, news to share with the MDN audience. We previously told you that the Ohio Dept. of Natural Resources (ODNR) was behaving like a child, dragging its collective heels to prevent two side-by-side injection wells in Belmont County developed by Omni Energy from beginning operation (see 
In February of this year, PTT Global Chemical adamantly claimed a final investment decision (FID) to build the $10 billion ethane cracker plant project in Belmont County, OH would happen by “middle of 2021” (see