Youngstown & Ohio shale update via CNBC's Cramer

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by Todd Franko (Contact)   | 340 entries

 
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We're all trying to get our arms around the impact of the Marcellus and Utica Shale developments in eastern Ohio.

Vindy frack blogger Mike Costarella zeroed in on this piece that ran this week on CNBC featuring Chesapeake and its Ohio plans.

It's a startling update — whether you are pro- or anti- frack.

Look:  http://marcellusdrilling.com/2011/08/chesapeake-energy-ceo-aubrey-mcclendon-talks-to-jim-cramer-about-the-utica-shale-in-eastern-ohio/

Mike had written this week in our inaugural Shale Sheet special section about water consumption due to fracking.

After watching this, he's updating his projections. Read:

My water usage calculation may have been grossly understated using ODNR's projections on wells at 2,250.

According to the CEO of Chesapeake Energy it will be more like 25,000 (by Chesapeake alone) wells drilled in Ohio Utica (over 20 years the CEO said).

At 5 million gallons per frack, the math on water usage is more like: 125,000,000,000 gallons. That is 125 billion gallons.   That's alot of water. Mosquito Reservoir fully stocked holds 34 billion gallons of water.


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