Utica Shale Drilling Permit Activity Rate Remains High

Despite the recent pull back in oil prices, continued low natural gas prices, and weakness in economy, the issuance if Ohio Utica Shale drilling permits continues at an ever increasing rate. The graph below depicting permits issued by month (compiled from Ohio DNR data) for the last two years indicates that June 2012 was the most active month yet and the climb continues.

Source: Ohio DNR data (Click for larger view)