Land Rights & Infrastructure Asset Management Software
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geoAMPS plans to attend the Ohio Oil and Gas Association (OOGA) Winter Meeting on March 5-7 at the Hilton Columbus at Easton. For the 67th year, OOGA will host top industry leaders from Ohio and across the nation to present the most up-to-date report on the oil and gas industry. The Winter Meeting is the principle business meeting of the Association and the premier networking event of the year. “geoAMPS is pleased to have the opportunity to attend this meeting of leaders of a key industry in Ohio,” Yogesh Khandelwal, President and Chief Executive Officer of geoAMPS, said. “Considering Ohio’s historic and expanding role in providing the nation’s energy, it is not surprising that this meeting is bringing together representatives of companies from a variety of industries across the country.”
Hydraulic fracturing is creating a positive impact on the United States economy, spurring job creation and investment in regions that both drill and export the oil and natural gas products produced. But will the shale boom in the U.S. have a lasting impact? According to predictions of some industry experts, not only will the impact last, but the benefits could pay huge economic dividends. Experts have predicted that U.S. drilling is on track to generate approximately $700 billion in the U.S. economy by 2020. The prediction, based from realistic assumptions, takes into consideration several opportunities that shale presents. The first is that increased oil and natural gas production will attract the petrochemical industry to a reliable and steady source of raw materials, creating new infrastructure investment and many skilled labor positions. The second is that as reserves of oil and natural gas continue to increase, exports will also become lucrative, spurring even more investment and job creation.
The recent shale gas boom in Pennsylvania has turned the region into one of the top producers of natural gas in the United States. Brazil is taking notice, paying particular attention as the South American country prepares to auction off drilling rights to its shale gas reserves. A delegation of Brazilian business representatives visited shale experts in Washington D.C. and Pennsylvania last week, gathering information on best practices to prepare the country to better handle its new natural resource while protecting the environment and benefiting Brazil’s economy. The discovery also has the opportunity to make Brazil - the largest economy in Latin America - more attractive to potential business investment by lowering the cost of energy.