Gas production rises while oil falls

Natural-gas production continues to rise and oil production continues to fall, according to the latest report of output from Ohio shale formations.

Second-quarter gas production came to 389 billion cubic feet, up 4.5 percent from the prior quarter and up 16.2 percent from the same quarter a year ago. Oil production was 4.04 million barrels, down 4.7 percent from the prior quarter and down 17.1 percent from the same quarter a year ago.

The figures, issued Friday by the Ohio Department of Natural Resources, are based on results from 1,659 shale wells that reported at least some production.

The report shows a continuation of a trend that has energy companies focusing on areas that are rich with gas but don’t produce as much oil as areas that were the focus of activity in the past.

Belmont County, which is just across the Ohio River from Wheeling, West Virginia, remains the leader in gas production. The top five counties were the same as during the previous quarter and in the same order: Belmont, Monroe, Carroll, Harrison and Noble.

Harrison County, which is north of Belmont County, remains the leader in oil. Again, the top five counties were the same and in the same order: Harrison, Guernsey, Carroll, Noble and Monroe.

Gulfport Energy remains the company with the most gas production in the state, and Ascent Resources has the most oil production. Both companies are based in Oklahoma City, Oklahoma.

“On the operations front, in the Utica, the team delivered solid results experiencing significant efficiencies at the drill bit and exceeding numerous previous records set in the field,” said Mike Moore, Gulfport’s president and CEO in an Aug. 9 conference call with analysts.

The oil and gas come from the Utica and Marcellus shale formations, which are deep beneath the eastern and southeastern parts of the state. Companies use horizontal drilling and hydraulic fracturing, or fracking, to extract the resources.

“On the operations front, in the Utica, the team delivered solid results experiencing significant efficiencies at the drill bit and exceeding numerous previous records in the field.”

— Mike Moore, Gulfport’s president and CEO