Drillers, refiners look to exploit Utica Shale reserves

08/16/2011 | Wall Street Journal, The

Plans by Chesapeake Energy and Devon Energy to develop the Utica Shale formation in Ohio could spur a Rust Belt oil boom, observers say. It could also help East Coast refiners raise their slim profit margins. "We will have a tremendous appetite if they can develop the [Utica] crude source," said Gary Heminger, president and CEO of Marathon Petroleum.

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