AKRON, Ohio (AP) — Energy company BP says it’s scrapping plans for shale drilling in northeast Ohio.
The company said in a news release that “as a consequence of its appraisal results” it was abandoning plans for drilling in the Utica shale in northeast Ohio.
The company has about 105,000 leased acres in the region, mostly in Trumbull County near Warren. The company said results from existing wells have not been promising.
The move was anticipated by many. Texas-based Halcon Resources in March had stopped its drilling in the area because of poor results.
The Akron Beacon Journal reports that the Utica shale in the region is rich with natural gas but is lacking liquids that are desired by drillers, especially with low prices being paid for natural gas.