Now, the Real Utica Shale Money Begins to Flow
Saturday, May 18, 2013CARROLLTON, Ohio -- Doyle Hawk reaches into the top of his dining room cabinet and produces a rectangular sheet of paper folded once -- a check for $9,800 -- the first royalty payment of many more to come based on the 35 acres he owns that are tied into a nearby Utica well unit.
“Who would’ve ever dreamt this?” asks Hawk, a farmer and former Carroll County commissioner, as he glances at the check from Chesapeake Energy Corp. “Five years ago, you couldn’t get a lease here.”
April Unemployment Rate Drops to 7% in Ohio
Friday, May 17, 2013COLUMBUS, Ohio -- Ohio's unemployment rate dropped to 7% in April from the 7.1% registered in March, as 7,600 jobs were added to nonfarm payrolls during the month, reports the Ohio Department of Job and Family Services.
The number of workers unemployed in Ohio during April stood at 400,000, down from 407,000 in March, ODJFS said. The number of unemployed has decreased 21,000 in the past 12 months from 421,000. In April 2012, Ohio's unemployment rate stood at 7.3%, ODJFS reported.
Utica Exploration Marches North to Mahoning, Trumbull
Friday, May 17, 2013YOUNGSTOWN, Ohio -- Now that the core of the Utica shale play is defined, it's likely outlying areas such as Mahoning and southern Trumbull counties will see oil and gas exploration ramp up in 2013, according to an official from the Ohio Department of Natural Resources.
2012 Utica Results Show ‘Onset of New Boom'
Friday, May 17, 2013YOUNGSTOWN, Ohio – Oil production in the state’s Utica Shale/Point Pleasant formation increased 93% in 2012 compared to 2011, and natural gas production rose by 80%, the Ohio Department of Natural Resources reported Thursday afternoon. While the increases are huge, just 87 horizontal wells were in production in 2012, officials emphasized, and their days in production were relatively few because midstream gas processing infrastructure has yet to come on line.
DeBartolo Foundation Gives Scholarships to 8 with Character
Friday, May 17, 2013BOARDMAN, Ohio – They are stellar examples of academic achievement, striving for excellence, selflessness, earning the respect of their peers and, most important, conquering the obstacles in their paths.
Their names are Elexis Blake, Logan Foster, Taylor Kutsch, Mary O’Donnell, Noelle Poole, Rachael Rendessy, Gina Sylvester and Stephanie Tieu.
New Business Filings Up in Ohio During April
Friday, May 17, 2013COLUMBUS, Ohio – The month of April saw 8,539 new entities filing to do business in Ohio, reports Secretary of State Jon Husted. This compares to April 2012, in which 7,765 new entities filed start-up documents with Husted’s office.
Year-to-day, 32,504 new business filings have been recorded by the secretary of state, an increase from the first four months of 2012, in which there were 31,565 new business filings.
'3 Minutes With' Ohio BWC's COO, Dale Hamilton
Friday, May 17, 2013BOARDMAN, Ohio -- Today's "3 Minutes With" video features Dale Hamilton, chief operating officer of the Ohio Bureau of Workers' Compensation. Hamilton spoke Wednesday to membrs of the Mahoning Valley Safety Council (READ STORY).
Ignazio Insurance to Merge with Kashmiry Associates
Friday, May 17, 2013BOARDMAN, Ohio -- Ray Kashmiry, president of R. Kashmiry and Associates, announced Thursday that Joseph Ignazio Insurance will merge with his firm effective July 1.
Joseph A. Ignazio, who has spent more than 25 years in the insurance industry, will join the Kashmiry firm as an account executive.
"This merger represents a pooling of the expertise of two major firms in an effort to market employer group benefits as well as for the self-employed and those who are Medicare eligible," Kashmiry says.
Investors Planning to Put Assets Back in Market
Friday, May 17, 2013NEW YORK -- Investor confidence is returning but at different rates around the world. In the United States, 89% of investors plan to increase or invest the same amount over the next 12 months, reflecting the recent rally in global stock markets.
Worldwide, 81% of investors in 20 countries plan to increase or invest the same amount over the next 12 months, according to the Schroders Global Investment Trends Report.
Restaurant Sales Hit New Record High
Friday, May 17, 2013WASHINGTON -- Restaurant sales bounced back from a dampened first quarter to hit a new record high in April, the National Restaurant Association says. Meanwhile, consumers’ pent-up demand to eat out remains historically high, which suggests they are ready to spend even more when their financial situations improve.