Will Encana Oil & Gas’ gamble in Luzerne County, Pennsylvania pay off? We’ll know soon. Encana is due to start drilling two exploratory wells in Luzerne County this week. The drilling process itself will last 65-75 days. So why is it a gamble for Encana to drill for gas in Luzerne County? Nobody knows for [...]
Nearly two-thirds of the land in Wyoming County, Pennsylvania is leased by natural gas drilling companies, and recent strong gas production from wells in the northern part of the county have sparked a competition to lease even more Wyoming County land. The potential for rich gas strikes in the Marcellus Shale beneath Wyoming County has [...]
Brian Grove, corporate spokesman for Chesapeake Energy, addressed the Chamber of Business and Industry of Centre County in State College, PA today. Among his comments was this statement showing Chesapeake’s commitment to the Marcellus Shale: “In northeastern Pennsylvania, where I’m from … we have 19 drilling rigs right now active in the northern tier. That’s [...]
Now that a severance tax is coming to Pennsylvania, natural gas drillers will likely push for a provision called “forced pooling” in PA which makes it easier to gather gas from properties that are not leased but sit in-between other leased land. The Marcellus Shale natural gas industry wants to see legislation attached to any [...]
MarkWest Liberty Midstream is partnering with Sunoco Logistics to use existing and new pipelines in a project that will take Marcellus Shale gas liquids (ethane) from the northeast all the way to the Gulf Coast. How’s that for a change?! Ethane is primarily used in manufacturing plastics and is one of the by-products obtained from [...]
Seems there’s been a strategy change at Chesapeake Energy with respect to Marcellus Shale drilling. Chesapeake is the largest player in the Marcellus with some 1.5 million net acres under lease. As recently as last week (see this MDN story) they boasted of having 24 drilling rigs (expanding this year to 31) in operation, and [...]
This bit of information about Chesapeake’s Marcellus Shale activities from a recent operational update: With approximately 1.5 million net acres, Chesapeake is the largest leasehold owner in the Marcellus Shale play that spans from northern West Virginia across much of Pennsylvania into southern New York. On its Marcellus leasehold, Chesapeake estimates it has approximately 26 [...]
Chesapeake Energy’s permit to use a PA State Route in Bradford County has been revoked—now a second time—by the Pennsylvania Department of Transportation (PennDOT). From the PennDOT press release: HARRISBURG, Pa., April 15 — A road use permit issued to Chesapeake Energy Corporation for moving its drilling trucks and other equipment over State Route 1007 [...]
Range Resources CEO John Pinkerton said that their holdings in the Marcellus Shale play are worth more than four times the $14,000 per acre that recent deals between energy companies have brought. Chesapeake Energy CEO Aubrey McClendon says his company’s Marcellus Shale holdings are worth $35,900 per acre to the company. With 1.57 million acres [...]
Norwegian energy giant Statoil, which has a deal with Chesapeake Energy to develop some of Chesapeake’s acreage in the Marcellus Shale, has just transferred 59,000 acres from Chesapeake’s lease holdings to their own. From a press statement issued by Statoil on Friday, March 26: Statoil has signed an agreement with Chesapeake which will add approximately [...]
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