Texas company says good-bye to the Utica

Danielle Wente | Shale Plays Media

GoFrac LLC, a Texas-based fracking business operating in the Utica shale play, is shutting down operations and closing its doors.

GoFrac arrived in Ohio a few years ago when it purchased 90 acres in Guernsey County and started an operation in Cambridge.  The company had serious investments in rail spurs and silos, explained Executive Director Norm Blanchard to the Columbus Business First.  He also mentioned that the operation could hire up to 250 people.

However, the Utica shale, like the rest of the energy industry, is struggling due to low oil prices.  According to Blanchard, because of the downturn, GoFrac told the local Ohio Means Job office that it will be shutting down this week.  Blanchard expressed how leaving the Utica is upsetting.  The company saw itself as a solid company, and wouldn’t lose its operations due to all of the investments the company had made.

via Texas company says good-bye to the Utica | marcellus.com.

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