Government gives estimate on Utica Shale formations - 21 News Now, More Local News for Youngstown, Ohio -

Government gives estimate on Utica Shale formations

Updated:

RESTON, Virginia - For the first time, the U.S. Geological Service has an idea of just how much gas and oil is available in the Utica Shale formation below parts of Ohio.

Government geologists say the Utica Shale formation holds about 38 trillion feet of recoverable natural gas.

The Utica lies beneath the Marcellus Shale in parts of Ohio, Pennsylvania and a few other eastern states.

This is the first assessment of the Utica by the U.S. Geological Survey. The agency estimates the formation holds about 940 million barrels of oil and nine million barrels of natural gas liquids.

The Marcellus is considered to be one of the richest natural gas reserves in the world.

The drilling industry is also paying increasing attention to the Utica.

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