By Adam Larson On May 2, 2014 2:54 pm

By: Adam Larson, Staff Writer, Shale Media Group

Edited By: Chris Stroyne, Editor, Shale Media Group

Across the country, shale oil and gas companies have corporate, regional and field offices. In most cases, these offices are spread out across several states. Traditionally, many shale oil and gas companies house their corporate offices in Texas, Oklahoma or California and couple those corporate offices with regional and field offices from state to state. 

In eastern Ohio, upstream shale oil and gas companies are targeting the Utica Shale, a shale rock formation that underlies the Marcellus Shale by a few thousand feet. With this taking place, more of these upstream companies are attaining commercial real estate to set up regional and field offices.

A few prominent upstream shale oil and gas companies have offices in the eastern Ohio region. Chesapeake Energy, Rex Energy and Gulfport Energy all fall under this category. For example, Chesapeake Energy has field offices that are located in Belmont, Canton, Navarre, St. Clairsville and Uniontown, Ohio. Rex Energy has an Ohio area leasing office in Carrollton, Ohio. In addition, Gulfport Energy has a field office based in St. Clairsville, Ohio.

While these large upstream companies are expanding throughout eastern Ohio, Jeru Real Estate, a local company headquartered in Barnesville, Ohio, is working closely with the shale oil and gas industry. Relating to the industry, the company has about seven different clients. As of now, Jeru Real Estate is leasing out buildings along with property in the Barnesville region.

In addition, Jeru Real Estate is operating a brand new 76-room Days Inn hotel in Belmont County, which is located directly across from Union Local High School along Ohio 149. This particular Days Inn is a new company prototype that offers a laundry center, business center, meeting room, fitness center and locker room. T.J. Jefferies, Owner, Jeru Real Estate, revealed, “This is an incredible, up-and-coming area in the oil and gas industry. I am proud that we are able to offer the Belmont area a new hotel with great design, quality accommodations and reasonable rates.”

R.T. Walker, Vice President, Energy Facilities Group, CBRE . discussed how the shale oil and gas industry is affecting the commercial real estate market. “With the influx of new companies moving into the region, any and all available space has been scarfed up by the industry, leaving it very difficult for local companies to expand or move,” stated Walker. “Due to supply and demand, rental rates and sale prices have started to increase, making it difficult for local businesses to find it in their budgets to relocate or purchase new property.”

By and large, CBRE’s involvement in the shale oil and gas industry is extensive. The company has consistently tapped into the commercial real estate potential of shale oil and gas companies. CBRE has the largest global energy management platform with over 420 million square feet of energy space and 16,450 locations managed.

The emergence of the Utica Shale has created many opportunities for the region, especially those in real estate. With shale oil and gas companies moving into the eastern Ohio region, real estate companies are keeping busy and joining forces with the shale oil and gas industry to provide infrastructure for those looking to setup in eastern Ohio.

Shale Media Group (SMG) is a news, information, education and mapping resource dedicated to the shale oil and gas industries by messaging across video, Internet, publications, events and radio. For more, check out ShaleMediaGroup.com to access all platforms, including: TheMarcellusShale.com. TheUticaShale.com. TheShaleAcademy.com. ShaleAdvantage.com and ShaleEnergyNow.com. Adam Larson is a Staff Writer with Shale Media Group. Contact him at  [email protected] .