Anchor Drilling Fluids opens plant in Ohio
BY ROD WALTON World Staff Writer
Wednesday, November 14, 2012
11/14/12 at 2:17 AM
Local companies are major players in a thriving industry.
Anchor Drilling Fluids USA Inc. has opened a plant in Wellsville, Ohio, that will serve energy producers in the Utica and Marcellus shales.
The Tulsa-based company's new facility, with a daily capacity of 10,000 barrels, is located in the Wellsville Intermodal Industrial Park.
"This is an exciting day for Anchor and the state of Ohio," CEO Bob West said Monday.
Drilling fluids produced by Anchor help cool drill bits, maintain wellbore stability and remove cuttings from wells, among other functions.
The eastern Ohio plant is located near producers in the Utica Shale, a natural gas- and oil-rich formation that lies 8,000 feet beneath the surface in parts of Ohio, Pennsylvania and New York. The Marcellus runs through some of the same areas, above the Utica.
"The Utica Shale reportedly has recoverable reserves of over 940 million barrels of oil and 38 trillion cubic feet of natural gas," Anchor President Phil West said. "Development of this U.S. energy resource will significantly contribute to long-term economic growth and job creation in Ohio and the region."
Anchor also invested with Cimbar Performance Minerals in a barite processing plant next to the Wellsville drilling fluids facility.
Barite, or barium sulfate, helps increase the density of drilling fluids.
Formed in the 1970s, Anchor was acquired in 2005 by Bob West and his son Phil. The company employs about 500 people nationwide, with 25 at its Tulsa headquarters.
Original Print Headline: Anchor Drilling opens plant in Wellsville, Ohio
Rod Walton 918-581-8457