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Ohio Utica Shale

Chesapeake expects natural gas prices to rebound

By Bob Downing Published: April 18, 2012

Bloomberg News today reported that Chesapeake Energy Corp., America's No. 2 producer of natural gas, expects natural prices to rebound as producers reduce drilling and the weather normalizes.

"$2 gas prices are not sustainable," said Mike Stice, chief executive officer of Chesapeake Midstream Partners, in an interview in Amsterdam.

"Prices will rebound. You'll see a supply impact from these low gas prices. We had a perfect storm in terms of production and warm temperatures; it can't be repeated," he said.

Drilling is being sustained beyond what it economic by terms that mean leases are extended if they are productive, he said.

Foreign investors are also drilling to delineate the size of the gas reserves that added to the glut, he said.

Storage levels will not be this high at the same time next year, he said.

Oklahoma-based Chesapeake is the No. 1 player in Ohio's Utica shale.





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Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.

Rig Count Interactive Map by Baker Hughes, an energy services company.

Shale Sheet Fracking, a Youngstown Vindicator blog.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

No Frack Ohio, a Columbus-based grass-roots group.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.