First Posted: March 01, 2012 - 4:45 pm
Last Updated: March 01, 2012 - 4:46 pm
BALTIMORE — Western Maryland could be home to 365 natural gas wells that employ more than 1,800 people, according to a study an industry group released Thursday.
The study released by the Maryland Petroleum Council estimates the wells would produce gas for 30 years, and more than $200 million in revenue for the state, about $160 million for Garrett County and $65 million for Allegany County over that period.
"The fiscal impact from this will be simply enormous, particularly at the local government level," said Anirban Basu, chairman and CEO of the Sage Policy Group, a Baltimore economic and policy consulting firm that prepared the study.
However, Basu noted the figures were estimates based on gas prices that can vary. Drilling is also expected to create a wide variety of jobs, noting about 420 people in 150 occupations are needed to bring a single well online.
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