Range Resources, one of the largest drillers in the Marcellus Shale in Pennsylvania, just posted year-end results and said that despite selling their Barnett Shale acreage, 2011 was the eighth consecutive year of double-digit gains for the company. In the Marcellus, Range doubled their output from 2010 levels.
Enerplus Corp. , a Calgary-based oil and gas producer, has approved an $800 million capital spending program for 2012 the company expects will help boost production 10 percent. Of that $800 million, Enerplus will spend $190 million (24 percent) in the Marcellus Shale, focused primarily on drilling to delineate and retain leases. The target is [...]
The Pennsylvania Department of Environmental Protection (DEP) sent a violation notice to Chief Oil & Gas on Jan. 4 for three gas wells in Nicholson Township (Wyoming County) saying there is 100 percent combustible gas between the cemented steel casings, which the DEP uses as a sign of flaws in construction of the well. The [...]
Two days ago MDN reported, based on copies of paperwork filed with Monroe County, Ohio, that Exxon Mobil via its subsidiary XTO Energy had acquired 13,200 acres of Utica Shale gas leases from Beck Energy (see this MDN story). It turns out there’s more to the story. MDN received a copy of an additional purchase [...]
CONSOL Energy is increasing its capital projects budget by 21 percent in 2012, including a ramp-up in their commitment to both the Marcellus and Utica Shale plays. CONSOL says they will spend $395 million to drill 122 new Marcellus Shale wells in 2012 (their portion of a joint venture with Noble Energy), 39 of those [...]
Talisman Energy announced yesterday that it plans to spend 11 percent less on capital projects in 2012 than it did in 2011. They also announced they would reduce the number of Marcellus drilling rigs from 11 in use during 2011 down to between five and seven for 2012.The reason? Low natural gas prices. Talisman expects [...]
The news out of Dimock, PA is coming so fast and furious, it’s hard to keep track of it all. First, a brief background on the situation in Dimock, the context you almost never read in the mainstream media: In 2008, Cabot Oil & Gas drilled a number of Marcellus Shale gas wells in Dimock [...]
Exxon Mobil, through it’s subsidiary XTO Energy, recently acquired just over 13,200 acres of Utica Shale leases from Beck Energy Corp. in Monroe County, Ohio. A copy of the Bill of Sale, dated Dec. 20, 2011, is embedded below, containing a list of all the parcels in the transaction. Terms of the purchase are not [...]
Three private water wells in Lenox Township (Susquehanna County), PA have been contaminated with methane from nearby Marcellus Shale drilling done by Cabot Oil & Gas according to the PA Department of Environmental Protection (DEP). Cabot has installed methane detection alarms in the three homes and has vented the affected wells.
Norse Energy, with substantial leases in New York State, clings to the hope that New York will soon allow shale gas drilling. In the meantime, they continue to try and hold on. Last week they sold some of their NY acreage along with a slice of the royalty rights on acreage they retain for $26.7 [...]
An interesting comment from Southwestern Energy. According to Southwestern’s CEO Steven Mueller, it’s more expensive to drill for shale gas in the Fayetteville Shale than in the Marcellus Shale, and if prices for natural gas remain as low as they are now, Southwestern will elect to reduce spending and drilling in the Fayetteville, but not [...]
Cabot Oil & Gas finished 2011 as the S&P 500 top performer. The energy company’s stock value increased by a whopping 101% in 2011, despite falling natural gas prices. Cabot increased their dividend to shareholders by 33 percent and the company has declared a two-for-one stock split to be distributed later this month. Cabot more [...]
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