Utica Shale Could Spur M&A And Ohio Steel

- September 29th, 2011

Seeking Alpha reported that the Ohio Oil and Gas Energy Education Program released a upward moving projection on the economic impact of Utica shale activity in the region.

Seeking Alpha reported that the Ohio Oil and Gas Energy Education Program released a upward moving projection on the economic impact of Utica shale activity in the region.

The market news is quoted as saying:

The report predicted that Utica shale production could generate 204,500 jobs in just four years and infuse billions into the regional economy.

It follows claims by Chesapeake Energy (CHK) that the Utica is “analogous” to the Eagle Ford. It also claimed that its holdings in the region could generate up to $20 billion for shareholders – greater than its entire current market cap. “The play reminded us of the Eagle Ford shale, which is distinctive because it’s a three-phase play of dry gas, wet gas and liquids,” Chesapeake CEO Aubrey McClendon said.

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