In Ohio, the Fog Begins to Lift Over the Utica Shale
Gulfport Energy Shares fell rapidly last spring. That is until the oil and gas producer admitted to having begun drilling its initial 3 wells in the Utica shale formation in Ohio. Since that day, the firm’s value has doubled and continues to grow. Energy producers in the Ohio have likened the Utica to the giant Eagle Ford shale play in Texas and feel the developments have been highly beneficial for the state – still in the process of emerging from economic woe. Optimism with regard to the future of this project has, however, been placed on the back burner for a while, as it appears that these wells are now producing more cheap natural gas than oil.
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