Shale development continues to make positive impact on Ohio economy

Columbus, Ohio – Bricker & Eckler LLP today published the fifth edition of its “Shale Economic Development Overview — Fall 2015,” a report detailing more than $5.7 billion in new investments since Spring 2015 in Ohio as a direct result of shale development. This represents a 51 percent increase in the total investments since the Fall of 2014.

Matt Warnock, Bricker partner and co-chair of the firm’s Oil & Gas Industry Group, said this growth trend is not unexpected. “Since we began tracking shale development two years ago, growth has been consistently on the rise,” he said. “Not only do we continue to see new projects, but the level of investment continues to be significant – in the billions. Ohio continues to reap the benefits of active, ongoing, and new development in the energy sector.”

Several large projects new to the Fall 2015 report include:

• A $5.7 billion ethane cracker plant in Belmont County in development by PTT Global Chemical.
• A $640 million investment in natural gas gathering and water services assets in Belmont and Monroe Counties by Rice Midstream Holdings and Gulfport Energy Corp.
• A pipeline project in Eastern Ohio by Marathon Oil and Price Gregory that is projected to generate $1 million per week in payroll.
• A $1.75 billion pipeline project by Columbia Pipeline Group (a subsidiary of NiSource, Inc.) through multiple counties in Ohio, Pennsylvania, and West Virginia.
• Various projects in the restaurant and hospitality industries in several counties.

The report tracks midstream and downstream shale development projects and is published twice per year (spring and fall). The first edition of the report in October 2013 identified $12.2 billion in new shale-related projects. Since then, each report has shown growth in the shale industry, with investments in Ohio now totaling well over $33.7 billion. 

“Bricker & Eckler is proud to serve many clients – both public and private – in the Southeast Ohio region,” said Chris Schmenk, Bricker attorney and President of Argus Growth Consultants. “We are dedicated to helping those we serve harness the power of this growth and turn it into sustained economic stability for families, communities and the state.”

###

About Bricker & Eckler:

Bricker & Eckler is one of Ohio’s leading law firms. Located in Columbus, Cleveland, West Chester, Marietta and Barnesville, the firm represents a wide variety of clients, including businesses and corporations, nonprofit organizations, governmental agencies, health care entities, school districts, municipalities, banks and insurers. Connect with us online on Twitter, Facebook and LinkedIn.