Belmont County | Energy Services | Ethane | Industrywide Issues | Ohio | Processing Plants | PTT Global
JobsOhio Says OH Ethane Cracker Will Happen, PTT or Someone Else
JobsOhio, a private nonprofit largely funded by the profits from state liquor sales, is dedicated to attracting new jobs and investments to the state. JobsOhio has been a big part of the plan to get an ethane cracker built in the state, a project currently on hold. JobsOhio still believes there will be an ethane cracker plant built on a site prepared for that purpose in Belmont County, Ohio. PTT Global Chemical is supposed to be the one building the plant. However, a stray comment by the President and CEO of JobsOhio, JP Nauseef, confirms what we’ve thought for a long time…
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Last week Pennsylvania issued 21 new shale well permits, with Snyder Brothers grabbing seven, PennEnergy Resources getting six, and Coterra Energy (formerly Cabot Oil & Gas) receiving five. In each case, the permits for each company were for a single well pad. Ohio issued just three new permits last week, two for Ascent Resources and one for Southwestern Energy. West Virginia finally came back to life, issuing seven new shale permits last week. Six of the WV permits were for Antero Resources, one for Southwestern Energy.
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 
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 
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 