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OIL AND GAS

Ohio’s oil and gas industry going through rough patches

Ohio’s oil and gas industry going through rough patches
The Siliconreview
06 March, 2020

At the recently held annual meeting of The Ohio Oil and Gas Association, many leaders and representatives from the biggest companies of the Energy Industry had shown concerns over the difficult times for the industry.

Jeff Fisher, CEO of Ascent Resources, the largest producer in the state, had been pointed towards the apparent downsizing of the industry and he said that this would just last for a while. He also added that the ideal move for companies now is to have a Free Cash Flow, considering the current trends in commodity prices and capital markets. While the whole industry is hoping for the prices to increase, annual meetings like these provide a good platform to bring companies together and make improvements. The meeting had discussions between the best and the brightest minds in the industry pouring their grey cells over challenges, whether it be public policy, environmental challenges, or regulatory. Among others, creative solutions were discussed to keep the flame burning for the Ohio Oil and Gas Industry. President of OOGA, Matt Hammond told that the commodity prices would rebound, and it’s just a matter of time before it all looks good in the next few years.

According to the Ohio Oil and Gas Energy Education Program, a majority of Ohioans don’t want a ban on natural gas and oil. The participants said that It’s meaningful for their neighborhoods and communities.

The meeting is one of the largest networking events of the year for these groups.