Presentation on theme: "Oilpatch Snapshot Oil & Gas Industry Overview April 23, 2012."— Presentation transcript:
Oilpatch Snapshot Oil & Gas Industry Overview April 23, 2012
Ohio Oil & Gas Industry Industry in Ohio for 152 years 275,774 oil and gas wells drilled 64,378 wells in production
Production Crude Oil 2011 4,852,964 barrels Total 1,141,380,706 barrels Natural Gas 2011 73,289,838 mcf Total 8,593,388,085 mcf Production numbers estimated based on available data, compiled by OOGA, oil reserve, gas reserve and the Department of Energy
2011 Wells Drilled by County 58 Utica Wells Drilled 7 Wells in Production As of March 15, 2012 161 Utica Wells Permitted ≥ 20 wells< 20 wells 460 total wells
What does Shale mean to Ohio’s Economy? 2010 $988 million in gross state product $1.7 billion statewide output or sales 2011-2014 Oil and gas producers are projected to reinvest over $34 billion in exploration and development, midstream, royalty and lease expenditures. Could generate approximately $12.3 billion to the gross state product and have a statewide output or sales of $23 billion. Distribute $1.6 billion in royalty payments Ohio Oil & Gas Energy Education Program www.oogeep.org Economic Impact Study Released September 2011
It’s not the strongest of the species that survives, not the most intelligent, but the ones most responsive to change – Charles Darwin
Supply Chain Opportunities Drilling and Well Construction Trucks, Trucks and more Trucks Equipment rental Water Security Communication Systems Fuel Aggregates Maintenance/ repair parts Housing/ hospitality Timeframe 2-4 months Drilling Down
Supply Chain Opportunities Completion/Mid-stream Timeframe Drilling Down Water, Water and more Water Reclamation Meters/ monitoring Remote Security Pipeline Welding supply Compressors ROW Work Road Reconstruction Completion work: 2 months + Production: up to 60 Years
Recent Industrial Investments in Utica Shale V&M Star – Youngstown $650 Million + U.S. Steel, Lorain $240 Million Timken, Canton $225 Million Chesapeake Energy, M3 Midstream, & EV Energy Partners, Columbiana County $900 million Halliburton – Muskingum County $150 million and 300 jobs 14 MarkWest – Harrison & Monroe Counties $500 million and 700+ construction jobs Exterran – Columbiana County $13 million and about 100 jobs Baker Hughes – Stark County $64 million and 700 jobs Select Energy Services – Carroll County $10 million and 185 jobs $2.75 BILLION and Counting – NOT Including Lease and Royalty Payments, Operations, etc.
Ohio Oil and Gas Association The Ohio Oil & Gas Association (OOGA) is a trade association with over 2,600 members involved in the exploration, production and development of crude oil and natural gas resources within the State of Ohio.
Ohio Oil and Gas Association Mission: To protect, promote, foster and advance the common interests of those engaged in all aspects of the oil and gas production industry The Association advocates for the industry before the Ohio General Assembly, United States Congress, state and federal agencies and the general public.
Ohio Oil and Gas Association OOGA contributes to members business and professional growth by offering a wide range of services, programs, products and money saving opportunities. Activities are focused in four areas: Advocacy on a state and national level Information sharing through monthly newsletter, website, email alerts and report services Educational opportunities through industry specific training and information sharing seminars Economical programs to ensure compliance with state and federal regulations.
Business Development Seminar Goals Overview of the industry How the procurement process works Opportunities within the supply chain Tools to build a business plan to enter the oil and gas industry – Safety expectations – Insurance requirements – Contracts – Marketing ideas
Ohio Oil and Gas Association Kristy Hawthorne Director of Membership Services and Small Business Development firstname.lastname@example.org 740-587-0444 www.ooga.org