Oil & Gas Production Surges in Ohio's Utica Shale, Triggering New Investments

SUGAR LAND--June 19, 2014--Written by John Egan for Industrial Info Resources (Sugar Land, Texas)--Higher crude-oil prices and a recovery in natural gas prices are driving a surge in Oil & Gas Production in Ohio's Utica Shale. Aubrey McClendon's new company has bought more than $3.5 billion of acreage in that formation since last October. McClendon's former company, Chesapeake Energy Corporation (NYSE:CHK) (Oklahoma City, Oklahoma), declared the Utica its next world-class asset. These moves come as other players, like BP plc (NYSE:BP) (London, England) and Halcon Resources (NYSE:HK) (Dallas, Texas), are exiting the Utica. Other companies featured: Magnum Hunter Resources Corporation (NYSE:MHR), Antero Resources Corporation (NYSE:AR), Gulfport Energy Corporation (NASDAQ:GPOR), Rice Energy Incorporated (NYSE:RICE), Range Resources Corporation (NYSE:RRC)