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Ohio Utica Shale

Investment giant PIMCO says U.S. oil, gas drilling a game changer

By Jim Mackinnon Published: February 27, 2012

California-based global investment firm PIMCO says in a new report that new natural gas and oil production in the United States is a "game changer."

The report is aimed at investors. PIMCO has more than $1.3 trillion in assets under management.

The report, by PIMCO Managing Director Mark Kiesel, says in part:

"While the U.S. economy is still heavily reliant on foreign oil, we should see improvement over the next several years given significant technological advances in horizontal drilling, new discoveries, growth in emerging oil shale developments and rising capital investment. Energy producers are applying techniques from horizontal natural gas wells to new horizontal oil wells, helping open new unconventional basins as well as increasing production from existing basins. North Dakota alone is now producing more than 500,000 barrels per day due to new oil shale development and this number is expected to double by 2016, according to Raymond James and Enbridge Inc. estimates, as of fourth quarter 2011.

"In combination, we believe increasing natural gas and onshore oil production could potentially see the U.S. overtake Russia as the world’s largest energy producer in the next ten years, and over time, America should make great progress in becoming more energy self-sufficient as a nation."

The full report can be read here.



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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.