State budget bill language requires quarterly oil and gas production reports

Because Ohio only requires that companies report production volumes annually, as opposed to traditional oil and gas producing states that require monthly reports, analysts are severely limited when trying to estimate "how gradually or sharply" horizontal wells are depleting the oil and gas trapped in the shale, Zanesville Times Recorder reports. A provision that would require companies to supply information on "the quality of the oil and richness of the natural gas" was stripped from the state budget bill before it was sent to the Senate; however, the bill does include language that requires oil and gas production quantity reporting every three months, the article said (See the Apr 18, 2013, blog – "Ohio House Republicans remove Gov. Kasich's oil and gas severance tax proposal from biennial budget bill"). For more, read the full story.

Ohio