Ohio’s natural gas producers shift focus from production to profits

A change is underway for Ohio’s natural gas producers; after focusing on boosting production the past few years, they are now looking at ways to increase profits, the Akron Beacon Journal reports. Jeff Fisher, CEO of Ascent Resources, told attendees at the annual Ohio Oil & Gas Association meeting, “[i]nvestors are demanding that we put growth aside and manage the business with the idea of making profit,” according to the article. Producers have been so successful at boosting production that demand growth “has been phenomenal,” but supply “has been a little more phenomenal,” Fisher said. Matt Hammond, the association’s president, said while he doesn’t expect double-digit production increases to continue, the mood among those at the meeting “remains good.” For more, read the full article.

Ohio