West Virginia Natural Gas
West Virginia Natural Gas Association
The West Virginia Oil and Natural Gas Association, chartered in 1915, is one of the oldest trade associations in the state, and is the only association that serves the entire oil and gas industry.WVONGA members operate in virtually every county in West Virginia. Our members employ thousands of people across the state, having payrolls totaling hundreds of millions of dollars annually. Our members have a cumulative investment of nearly $10 billion in West Virginia, own about 20,000 oil and gas wells, have more then 15,000 miles of pipeline crisscrossing the state and provide oil and natural gas to roughly 300,000 West Virginia homes and businesses.
West Virginia Department of Commerce
A key natural gas development in the state is the 6,000-foot-deep Marcellus Shale rock formation, believed to contain more than 50 trillion cubic-feet of recoverable natural gas. West Virginias underground natural gas storage capacity accounts for about 6 percent of the U.S. total. In addition to West Virginias natural gas production, state infrastructure handles three times that amount from other sources.
The state is an important supplier to the Northeast during the winter months when natural gas demand peaks.
West Virginia is again in the running for a petrochemical complex. This time around, a Brazilian company, Odebrecht, will look to capitalize on the regional opportunities in the Marcellus and Utica natural gas shale regions. Gov. Earl Ray Tomblin and Odebrecht officials announced on Thursday in Parkersburg that the company will explore developing a new petrochemical complex in Wood County. Tomblin called the announcement of the potential complex a "defining moment in the economic development of our state."
Marcellus Drilling News
A huge vote of confidence by an investment firm that the ethane cracker plant recently announced by Gov. Earl Ray Tomblin and planned for Parkersburg, WV will actually be built (see WV Announces Brazilian Company to Build Ethane Cracker Complex). Siltstone Capital, an investment and advisory firm with corporate offices in New York and Houston, bought the old Blue Cross and Blue Shield building in downtown Parkersburgvacant since 2009to set up offices for the company and to lease out space they dont use themselves.Siltstone invests in companies in the energy sector: exploration and production, oil services, and midstream. If they werent totally convinced that the Odebrecht cracker plant would be built, you can be sure Siltstone would not have spent $475,000 on a vacant building in Parkersburg, WV (population 31,492)