3/28/2012

BP struck a deal with the Associated Landowners of the Ohio Valley to lease 84,000 acres in Ohio's Utica/Point Pleasant shale formation for future production. The play has the potential to yield natural gas liquids at rates larger than those seen in Pennsylvania's Marcellus Shale, the company said. "We are very encouraged by what we have seen of the Utica/Point Pleasant formation," said Tim Harrington, BP North America's regional president for natural gas business.

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