Oil and gas opportunities growing in the Valley - WFMJ.com News weather sports for Youngstown-Warren Ohio

Oil and gas opportunities growing in the Valley

Posted: Updated:

YOUNGSTOWN, OHio - Oil and gas exploration continues to present opportunities for business growth in the Mahoning Valley.

A new report reflects the impact the industry is having in the region, and it's just getting started.

The annual Valley Economic Update shows 118 projects involving economic development agencies, with investments totaling more than $400 million and 7,000 jobs created or retained, with oil and gas playing a significant role.

Sarah Boyarko, the Regional Chambers vice president for economic development, says Exterran is one example of a business indulging in the recent oil and gas projects with $13 million.

Others include Hilcorp and NiSource at $300 million and Chesapeake $900 million.

The Youngstown-Warren area is positioned in the heart of the Utica location, and is a gateway to Marcellus Shale.

Boyarko says more projects are already in the works.

"There's other ribbon cuttings pending for this year that are exciting news in the Valley," she says.

Vince Bevacqua of ShakeComm says more wells will mean more pipelines, processing plants and supply chain investments; so we're not even scratching the surface.

The Chamber and Bevacqua both say that shale development is going to be a game changer for the Valley.

"It is the opportunity we've been waiting for a couple of generations now to really latch on to and make a big difference economically in this area," says Bevacqua.

 

  • More From wfmj.comHot ClicksMore>>

  • What is lava haze? A look at Hawaii's latest volcanic hazard

    What is lava haze? A look at Hawaii's latest volcanic hazard

    Tuesday, May 22 2018 3:45 PM EDT2018-05-22 19:45:48 GMT
    (U.S. Geological Survey via AP). In this image provided by the U.S. Geological Survey, lava from fissure 20 enters the ocean near Pahoa, Hawaii on Sunday, May 20, 2018. The volcano that is oozing, spewing and exploding on Hawaii's Big Island has gotten...(U.S. Geological Survey via AP). In this image provided by the U.S. Geological Survey, lava from fissure 20 enters the ocean near Pahoa, Hawaii on Sunday, May 20, 2018. The volcano that is oozing, spewing and exploding on Hawaii's Big Island has gotten...
    White plumes of acid and extremely fine shards of glass are billowing into the sky over Hawaii as molten rock from Kilauea volcano pours down a hillside and into the ocean.More >>
    White plumes of acid and extremely fine shards of glass are billowing into the sky over Hawaii as molten rock from Kilauea volcano pours down a hillside and into the ocean.More >>
  • School shooting victims killed attempting to ward off gunman

    School shooting victims killed attempting to ward off gunman

    Tuesday, May 22 2018 2:57 PM EDT2018-05-22 18:57:28 GMT
    (AP Photo/Fareed Khan). Abdul Aziz Sheikh, center, father of Sabika Sheikh, a victim of a shooting at a Texas high school, shows a picture of his daughter in Karachi, Pakistan, Saturday, May 19, 2018. The Pakistani foreign exchange student is among tho...(AP Photo/Fareed Khan). Abdul Aziz Sheikh, center, father of Sabika Sheikh, a victim of a shooting at a Texas high school, shows a picture of his daughter in Karachi, Pakistan, Saturday, May 19, 2018. The Pakistani foreign exchange student is among tho...
    An outgoing and 'really funny' student who blocked the door to try to prevent the gunman from entering the classroom and an exchange student who aspired to work in civil service were among the 10 people killed at a...More >>
    An outgoing and 'really funny' student who blocked the door to try to prevent the gunman from entering the classroom and an exchange student who aspired to work in civil service were among the 10 people killed at a Texas high school.More >>
  • Miss Nebraska wins Miss USA competition

    Miss Nebraska wins Miss USA competition

    Tuesday, May 22 2018 4:13 AM EDT2018-05-22 08:13:46 GMT
    The show has begun to see who will go home with the Miss USA title.More >>
    The show has begun to see who will go home with the Miss USA title.More >>
Powered by Frankly
All content © Copyright 2000 - 2018 WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms