The Columbus Dispatch, a local newspaper in Columbus recently reported that a single Chesapeake Energy well in Ohio’s Utica shale region was producing “enough natural gas in 198 days to account for 2 percent of Ohio’s total output for an entire year.”
Quoted from the Dispatch:
The Buell well’s output was about 300 times greater than the average daily output of the 49,000 traditional gas-producing wells in Ohio, said Rick Simmers, chief of oil and gas resources management for the Department of Natural Resources.
Overall, the five Chesapeake wells in Utica produced more than 2.5 billion cubic feet of natural gas last year, or 3.5 percent of total production.
When he released his tax plan last month, Kasich was estimating that shale drilling would generate $4 billion in revenue for oil and gas companies next year and $23.1 billion by 2016. Lately, he’s been saying an undisclosed energy company told him it would take “$1 trillion out of the ground in Ohio.”
“The potential for gas production in particular, and possibly oil production, is very, very good,” Simmers said. “For the gas in particular, that might mean lower natural-gas prices for the consumer. … These production numbers are fairly significant.”
The natural gas is bound to diminish after a period of time. The more the well is being fracked, the less output it will have. Also, the older the well is, the less natural gas it will produce. But, no person can deny that these levels of natural gas being extracted are unusually high.