Buying oil and gas assets in the Marcellus
There is big news for the Ohio Valley that will translate into immediate jobs and longevity in the oil and gas industry has been announced. Southwestern Energy has announced it is buying oil and gas assets in the Marcellus and Utica Shale Fields in West Virginia and Pennsylvania from Chesapeake Energy for over $5,000,000,000.
Over the past 10 days, Business Development Corporation Executive Director Pat Ford said he has been showing properties from Chester to Beech Bottom to both national and international companies. Ford said the impact to the community will be multi-fold. "It's going to involve investment in our area, its going to be a variety of jobs, its going to be improvements to our infrastructure, and also quite frankly its going to translate into an immediate impact on our restaurants and our hotels."
Ford said the prospects want either a 20,000 square foot building, 150 acres, rail access, barge access, or both. Many of the prospects have already sent in contracts for land they are looking to purchase.
Ford said over the past five years, there has been over $150,000,000 invested and 1,500 jobs preserved in the Ohio Valley thanks to the oil and gas industry.