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Oil-and-gas company buys parcels



Published: Tue, May 1, 2012 @ 12:08 a.m.

youngstown

By Burton Speakman

bspeakman@vindy.com

Youngstown

A Switzerland company is the latest oil-and-gas operation to purchase property in Youngstown.

Weatherford Artificial Lift Systems Inc., a subsidiary of Weatherford International Ltd., purchased two parcels at 1100 Performance Place — the former home of Polly Air — from STAG III Youngstown LLC for $3.4 million.

Weatherford Artificial Lift Systems is based in Houston.

The building is 153,708 square feet and sits on 20.37 acres off Poland Avenue south of downtown Youngstown.

“We’re glad to have them. We welcome them to the area,” said Sarah Boyarko, vice president for economic development retention and expansion for the Youngstown/Warren Regional Chamber. She said the chamber has known that Weatherford was looking to come to the area.

“We gave them a presentation of the services we could offer. They didn’t seem to be interested in any of it,” she said.

Weatherford appears to want to come to the area and conduct its work quietly, Boyarko said.

The company did appear at one job fair for veterans locally about a month ago, she said.

According to its website, Weatherford International makes products that are used throughout the production process of oil and gas wells.

The company has domestic companies in Arkansas, California, Colorado, Louisiana, New Mexico, Oklahoma, Pennsylvania, Texas and West Virginia. They also have numerous international companies.

This would be the first location in Ohio.

Weatherford reported first-quarter net income of $123 million. The company reported revenues of about $3.6 billion, up 26 percent compared with the same quarter the previous year.

Officials from Weatherford were not available to comment Monday.


Comments

1CongressWatcher(216 comments)posted 3 years, 4 months ago

Awesome! A company that specializes in the production of equipment to build injection wells is coming to youngstown! yippeeeeeee!

http://www.weatherford.com/Products/P...

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2Silence_Dogood(1514 comments)posted 3 years, 4 months ago

CongressWatcher you need to work on your reading skills , it said "throughout the production process of oil and gas wells". But if you want to see a boogie man under every rock I guess that is between you and your therapist.

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3CongressWatcher(216 comments)posted 3 years, 4 months ago

Thanks Silence! lol However, it clearly states on the company's web site that injection well technology is one of their specialties. This is from a web site link I provided in my post. Perhaps it is you who needs a little brush up on your reading of follow on posts. I can check with my therapist and see if there any open appointments for you if you would like?

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4bmanresident(607 comments)posted 3 years, 4 months ago

Hmmm, an area that hasnt had good jobs come here in decades finally has some economic gains in the natural gas area. Now the Hippies are going to try to block all progress and keep this area a cesspool of poor uneducated welfare collected scum. Someone needs to protest the Occupy Youngstown folks, they are the problem, marching alongside the infamous B00by Hagan

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5CongressWatcher(216 comments)posted 3 years, 4 months ago

I am not trying to stop the drilling, I am justifiably concerned about injection wells in mass volume. There are alternatives to this process. If they keep the injection wells to Clinton Formation level, perhaps it will work, but deep injection wells scare me. I admit it.

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