PENN VALLEY, PA, U.S., April 29, 2021 /EINPresswire.com/ — Ohio’s oil and gas production started out slowly in 2021, but the diminishing number of COVID-19 cases and accelerated vaccine roll-out have resulted in an increase in production that is supporting renewed petroleum product demand and new economic growth opportunities, according to Christina Polesovsky, the American Petroleum Institute’s Associate Director-Ohio.
Polesovsky will be a presenter at the Ninth Annual Utica Midstream Conference, slated for May 20, at the Holiday Inn Canton (Ohio) Belden Village. The one-day conference is presented by Shale Directories.com and the Canton Regional Chamber of Commerce.
“Ohio’s natural gas production from January 2020 to January 2021, was down 1.6 percent, year-over-year,” Polesovsky said. “With nine rigs drilling for gas in the Ohio Utica as of April 1, 2021, however, per-rig productivity is near record performance.”
Drilling permits granted by the state of Ohio fell by roughly 200 from 2019 to 2020, according to Polesovsky. But permits issued in the first 10 weeks of 2020, compared with the same period in 2021, increased by one-third – from 46 to 61 – provide another strong indicator of industry growth in 2021.
“It’s definitely a good sign,” Polesovsky said.
“Roughly 100 days into the Biden administration, Polesovsky said the oil & gas industry “stands ready to work with the administration on a number of issues – including climate change.”
“Climate change is real, and we also know the world will use more oil and gas 20 years from now compared to today. We don’t have to choose between a lower carbon future and sustaining and growing the more than 10 million American jobs supported by the industry,” Polesovsky said. “We can and must do both.”
Polesovsky said currently there are numerous O&G-related legislative and regulatory proposals under consideration in Columbus with potential to impact Ohio’s shale industry.
“We always try to impart on policymakers that Ohio is constantly competing (with other states and countries) for industry investment,” Polesovsky said. “We are fortunate that most policymakers understand the balance needed to keep Ohio business-friendly in order to retain and grow investment in our industry.”