An article in The Wheeling Intelligencer and News-Register reports that two drilling companies entered into a joint operating agreement and have a new well near Fox Commerce Park in hopes of tapping some of the estimated 5.5 billion barrels of oil in Ohio's Utica shale. According to Petroleum Development Asset Manager, Nathan Anderson, the well will only have a vertical shaft descending to 8,000-10,000 feet beneath the surface and "will be a test well to help us gain data to basically find out what is down there."
One reason for the optimism of drilling in Belmont County is from the results experienced by a Chesapeake Energy well in nearby Harrison County, which reached a peak output of 9.5 million cubic feet of natural gas per day. Here, the Belmont County land is leased by Beck Energy Corp., which also holds the drilling permit. This joint venture is just another addition to the large companies which have subsidiaries in Belmont County or have made recent acquisitions.
