Marcellus & Utica Shale Story Links: Tue, Feb 26, 2013
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
Read More “Marcellus & Utica Shale Story Links: Tue, Feb 26, 2013”
-
-
OH Budget Bill Hits Utica Drilling with $25K/Well Impact Fee
If you ever (logically) thought a piece of legislation that’s meant to be a budget would only deal with money issues, you would be wrong. Budget laws for decades have been used to slip in all sorts of non-money-related measures. This year’s Ohio budget is no different. Tucked away in the proposed budget law from Gov. John Kasich are a number of non-budget items that directly affect Utica Shale drilling in Ohio. The measures include a ban on using brine as a de-icer on public roads, moving from yearly to quarterly production reports, lease transfer 30-day notifications, a $25,000 impact fee on each well drilled (surprise!), and testing of shale cuttings for radioactivity. And you thought budgets were just boring numbers.Here’s the low-down on the non-budget items in the budget bill that will impact Utica drilling in a big way:
Read More “OH Budget Bill Hits Utica Drilling with $25K/Well Impact Fee”
-
Anti-Drilling/Fossil Fuel | Energy Services | Industrywide Issues | Pennsylvania | Pike County | Pipelines | Tennessee Gas Pipeline
Praying for Dead Trees – The Nutty Gas Protesters of Pike County
Columnist Beth Brelje has penned a must-read editorial on the nutters in Pike County, PA protesting construction of the Tennessee Gas Pipeline’s 323 Line. Brelje says the protesters have scheduled a—get this—prayer vigil, to pray for the “fallen trees.” Yeah, Twilight Zone stuff.
Instead of praying over dead wood, Brelje says protesters might actually want to do something constructive with their time, like:
Read More “Praying for Dead Trees – The Nutty Gas Protesters of Pike County”
-
Law Firm Publishes Handy Utica Highlights Report for 4Q12
Law firm Benesch Friedlander Coplan & Aronoff LLP (offices in Columbus and Cleveland) has just published a quarterly summary close-up on the Ohio Utica Shale for fourth quarter 2012. It’s full of interesting highlights and bits and bobs you’ve already read on MDN. However, the report pulls a lot of overview material together in an easy to scan format—and it’s just 12 pages (full report embedded below).
The report opens with what it considers the top issues and useful information. It then highlights some of the major industry moves, looks at the midstream and infrastructure projects, government regulation, and closes with training programs available to help those who want jobs in the gas and oil fields. A nice report—worth your time to review it.
Read More “Law Firm Publishes Handy Utica Highlights Report for 4Q12”
-
Closer Look at Shale Bills Before WV Legislature
The West Virginia legislature only meets for 60 calendar days each year, so when they convene, a flurry of new bills are introduced. MDN recently told you this year legislators have already introduced some 60 bills dealing with energy issues in the state—22 of those bills were introduced by Delegate Mike Manypenny, D-Taylor (see New Rules/Laws for Shale Drilling Will Come to WV in 2013).
Not all of the bills will become law, but some will. Here’s a look at a few of the more serious contenders that stand a chance of getting enacted, and one (forced pooling) that hasn’t even been introduced—yet:
Read More “Closer Look at Shale Bills Before WV Legislature”
-
Anti-Drilling/Fossil Fuel | Hydraulic Fracturing | Industrywide Issues | Mahoning County | Ohio | Regulation | Utica Shale
Youngstown, OH to Commit Utica Suicide with Vote to Ban Drilling
Is it right for a simple majority to strip away the hard-earned property of their neighbors with an up or down vote? The Founding Fathers called it mob rule, which is why the United States was founded as a democratic republic—not a straight democracy. They recognized that up or down votes that allow citizens to take away property (money, use of land, possessions) from fellow citizens is abhorrent and immoral, which is why they cooked up the ingenious document called the Constitution—full of checks and balances to prevent it from happening.
But alas, the Constitution has become nothing more than toilet paper in some places, like Youngstown, Ohio…
Read More “Youngstown, OH to Commit Utica Suicide with Vote to Ban Drilling”
-
Atlas Resource Partners to Focus on Utica, Marcellus in 2013
Atlas Resource Partners plans to focus on just four shale plays in 2013. Two of them are the Utica and Marcellus.
Matthew Jones, COO of parent company Atlas Energy LP, said the following about the Utica and Marcellus during the company’s 4Q conference call on Feb. 22:
Read More “Atlas Resource Partners to Focus on Utica, Marcellus in 2013”
-
Cabot O&G Operational Update for Marcellus Shale
Last week MDN told you about Cabot’s distinction in belonging to two different “1 billion” clubs (see Cabot O&G in 2012: Membership in 2 Different “1 Billion” Clubs). About the same time Cabot released their financial results, they also released an operational update which we neglected to report.
Below is the portion of that report for Cabot’s Marcellus Shale operations:
Read More “Cabot O&G Operational Update for Marcellus Shale”
-
Marietta, OH Feels the Economic Effects of Utica Drilling
Marietta (Washington County), Ohio is starting to feel the impact from Utica and Marcellus Shale drilling. It’s showing up in a dramatic increase in tax revenue from hotels and motels. It’s also showing up in the local real estate market that’s turned from being a buyers market into a seller’s market:
Read More “Marietta, OH Feels the Economic Effects of Utica Drilling”
-
New Utica Pipe/Equipment Plant Setting up in Portage County, OH
A welding and fabrication company—Six C Fabrication—has just purchased a former plastics plant in Rootstown (Portage County), Ohio where it will establish a manufacturing plant for piping and structural steel equipment for the Utica Shale drilling industry.
Six C hails from Louisiana. They believe the Utica offers a great opportunity to expand their business. Another 100 new jobs are on the way (this year) in the Utica…
Read More “New Utica Pipe/Equipment Plant Setting up in Portage County, OH”
-
Calendar of Events for Feb 25 – Mar 10, 2013 [Free]
Below are upcoming events for this week and next.
Read More “Calendar of Events for Feb 25 – Mar 10, 2013 [Free]”
-
Marcellus & Utica Shale Story Links: Mon, Feb 25, 2013
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
Read More “Marcellus & Utica Shale Story Links: Mon, Feb 25, 2013”
-
Cabot O&G in 2012: Membership in 2 Different “1 Billion” Clubs
The 2012 reports continue to roll in. Cabot Oil & Gas has just reported its 2012 report and the results are extraordinary. Cabot joined two different “1 billion” clubs in 2012. First, they surpassed $1 billion in revenues for 2012, earning $1.2 billion. Second, they became the first (and so far only) company to achieve 1 billion cubic feet of natural gas production per day in the Marcellus Shale (see Who’s a Member of the Marcellus “1 Bcf/d” Club?).Companywide, Cabot’s natural gas production was up an astonishing 43% over 2011, much of that from their drilling in Susquehanna County, PA. Cabot is a great company run by great people, and they have a lot to be proud of when it comes to their performance last year. Here’s the numbers and the rundown for Cabot in 2012:
Read More “Cabot O&G in 2012: Membership in 2 Different “1 Billion” Clubs”
-
Chesapeake 2012 Update: Revenue Down $940M, Gas Production Up 9%
Chesapeake Energy issued it’s fourth quarter 2012 and full year 2012 financial and operational update yesterday (full report below). This is a big deal because Chesapeake is the #2 natural gas producer in the U.S. behind Exxon Mobil. The company is also the biggest driller in the Utica Shale and one of the biggest in the Marcellus Shale.
What does the update show? The company lost $940 million in 2012, which was expected. In early 2012 Chesapeake made noise about curtailing output until the commodity price of natural gas went up. So much for that: Production increased 9% from the end of 2011 to the end of 2012—to an average of 3.9 billion cubic feet of gas per day.
Read More “Chesapeake 2012 Update: Revenue Down $940M, Gas Production Up 9%”
-
Chesapeake Energy Strikes Oil Again, This Time in WV
Chesapeake Energy announced in July 2011, to great fanfare and shouts of joy, that it had hit oil in the Ohio Utica Shale (see Major Discovery – Chesapeake Energy Strikes Oil (and Gas) in Ohio’s Utica Shale). Although early results were promising, by the end of 2012 Chesapeake admitted it had “misjudged” the Utica Shale fairway—the best places to drill—and their early enthusiasm seems to have subsided (see Chesapeake Admits Misjudging Ohio Utica Sweet Spot).
But perhaps Chesapeake has reason to smile again. Chesapeake has hit oil—in the West Virginia Marcellus Shale:
Read More “Chesapeake Energy Strikes Oil Again, This Time in WV”
-
Chesapeake Still Loves the OH Utica Shale – 2012 Year in Review
Estimating that it will recover 5 to 10 billion cubic feet of natural gas equivalents from each well drilled in the Ohio Utica Shale, Chesapeake Energy says they still love the Ohio Utica Shale, even if oil isn’t a big part of the picture.
Chesapeake held an earnings call yesterday to discuss 2012 numbers with analysts. Akron Beacon Journal reporter Bob Downing listened in:
Read More “Chesapeake Still Loves the OH Utica Shale – 2012 Year in Review”
If you ever (logically) thought a piece of legislation that’s meant to be a budget would only deal with money issues, you would be wrong. Budget laws for decades have been used to slip in all sorts of non-money-related measures. This year’s Ohio budget is no different. Tucked away in the proposed budget law from Gov. John Kasich are a number of non-budget items that directly affect Utica Shale drilling in Ohio. The measures include a ban on using brine as a de-icer on public roads, moving from yearly to quarterly production reports, lease transfer 30-day notifications, a $25,000 impact fee on each well drilled (surprise!), and testing of shale cuttings for radioactivity. And you thought budgets were just boring numbers.
The 2012 reports continue to roll in. Cabot Oil & Gas has just reported its 2012 report and the results are extraordinary. Cabot joined two different “1 billion” clubs in 2012. First, they surpassed $1 billion in revenues for 2012, earning $1.2 billion. Second, they became the first (and so far only) company to achieve 1 billion cubic feet of natural gas production per day in the Marcellus Shale (see