News Archive

ODNR Releases First Quarter Production Numbers for Oil and Gas

COLUMBUS, OH – During the first quarter of 2015, Ohio’s horizontal shale wells produced 4,401,687 barrels of oil and 183,585,256 Mcf (183 billion cubic feet) of natural gas, according to figures released today by the Ohio Department of Natural Resources (ODNR). Oil increased by more than 842,000 barrels and gas by more than 18 billion cubic feet compared to the fourth quarter of 2014. By comparison, 418 horizontal shale wells in the first quarter of 2014 produced 1,951,641 barrels of oil and 67,329,316 Mcf (67 billion cubic feet) of natural gas.

Comparatively, while the fourth quarter of 2014 saw a 25 percent increase in oil production over the third quarter, the increase was 545,000 barrels, exactly 300,000 barrels less than the first quarter of 2015 production.

The new report lists 926 wells, 877 of which reported production, resulting in a 12 percent increase in wells for the first quarter. Forty-nine wells reported no production…

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New Bakery Co. sold for $80 million

The restaurant chain expects proceeds after taxes to total about $50 million.

About 320 employees work at the two Zanesville plants, the majority of them at the Airport Road location. It is unknown how the sale will affect them, but Scott Donaldson, the director of human resources for New Bakery, said he sees the sale as an opportunity.

The New Bakery distributes products from Colorado to the east coast of the U.S.

“I think it’s really going to be a good thing for us as far as our growth,” Donaldson said. “We’re really excited about the opportunity to work with East Balt.”

East Balt Bakery, the Chicago-based company that…

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Manufacturing Needs Young Hires

The skills gap issue is not new to the U.S. manufacturing industry. Several prior studies confirm manufacturing executives are concerned about attracting, training, and retaining talent to drive innovation and growth agendas in their organizations. The sentiment remains the same today. The 2015 study reveals an overwhelming majority (84 percent) of executives agree there is a talent shortage in the U.S. manufacturing sector.

Not only is there a shortage today, but research results indicate there is a more pressing, longer term issue confronting manufacturers. The skills gap is widening, and over the next decade, 3.4 million manufacturing jobs will likely be needed.  In addition, an estimated 60 percent of these positions are likely to be unfilled due to the talent shortage. As a result, only 1.4 million out of 3.4 million positions are expected to be filled, implying that the U.S. manufacturing sector is likely to suffer a shortfall of 2 million…

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Officials celebrate continued development in Ironton

Photo from Herald-Dispatch

Photo from Herald-Dispatch

IRONTON – Months after the Holiday Inn Express and the Frisch’s Big Boy restaurant opened, local officials marked the grand opening of the Gateway Centre, a project that has provided 70 jobs to Ironton and could provide another 70 to 90 jobs during its second phase.

The $10 million project to bring the hotel and restaurant to South 9th Street has provided 70 full-time equivalent jobs, said Bill Dingus, executive director of the Lawrence Economic Development Corporation.

“We’re on the edge of having two more” businesses locating in the Gateway Centre area, which includes the former Ohio National Guard Armory and property along the north side of South 9th Street, Dingus said. “We expect to have 150 jobs here.”

The hotel and restaurant opened last year, but Tuesday was the first time all the principals could get…

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