Marathon Petroleum president Gary Heminger on Thursday predicted a great future for oil in Ohio's Utica shale, according to Marcellus Drilling News.
Oil production in eastern Ohio is currently 2,000 to 3,000 42-gallon barrels per day, he said during a Hancock County Republican Party dinner.
Other locations measure oil production in the tens of thousands and hundreds of thousands of barrels per day, he said.
"It's early in the game, but we think (Utica) has great potential," he said.
Most of the crude oil from the Utica shale in eastern Ohio is being purchased by Marathon and refined at its Canton refinery, Heminger said.
It is turned into gasoline, diesel and other petroleum-based products.
Marathon, he said, is ready to accelerate its purchasing and refining of Utica oil.
At the suggestion of crude producers, it has invested in a 12,000-barrel-per-day truck unloading rack in Canton, he said.
"We expect to increase that to 24,000 barrels per day by next summer," he said.
Then some crude will go to terminals in Steubenville and Wellsville on the Ohio River to be shipped via barges to Marathon's refinery in Catlettsburg, Ky.
At its two refineries in Ohio and Kentucky, Marathon can handle 150,000 barrels per day, he said.
The proximity of Marathon refineries to the Utica oil reduce shipping costs and provide a financial advantage, he said.
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.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
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.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.