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 [...]
Instead of trying to regulate Marcellus drilling inside municipal borders, Benton Township (Lackawanna County), PA took a different approach when Southwestern Energy recently drilled an exploratory well. Benton hired an independent engineer to monitor drilling and construction of the well. According to township officials, the process has been “an ‘unequivocal’ success.”
On Monday, Southwestern Energy announced it will spend $2 billion in 2012 on exploration and production, with plans to double their investment in the Marcellus Shale. From the Southwestern press release:
Rather than pay legal fees to defend their legislation, the supervisors in Benton Township (Lackawanna County), PA voted Wednesday to change the language of their legislation restricting the drilling of an exploratory well by Southwestern Energy. The supervisors voted to grant Southwestern the right to drill the exploratory well back in June, but slapped 18 [...]
Southwestern Energy provides the following update of its Marcellus Shale activities in its recently released third quarter report. The update shows that Southwestern’s Marcellus activity is concentrated in Bradford and Susquehanna counties in PA.
ProPublica recently compiled a list of the top 10 natural gas drillers in the U.S. based on daily natural gas production volume. The list includes gas drilled by both “traditional” vertical drilling as well as “non-traditional” horizontal hydraulic fracturing. Or think of it as non-shale gas and shale gas—companies who drill for both are in [...]
Southwestern Energy plans to construct a well pad and drill six to eight Marcellus Shale wells on the border of a former hazardous waste landfill in New Milford (Susquehanna County), PA. A local group has started a letter-writing campaign to stop the project.
In an interesting (some would say hypocritical) twist on New York State’s moratorium against drilling in the Marcellus Shale because of environmental concerns, it seems the state’s comptroller has no problem investing some of the state’s huge $140 billion pension fund in shale gas drilling operations, to the tune of $1 billion:
A group of investment managers who belong to an organization called The Investor Environmental Health Network have banded together (some might call it collusion) to put pressure on energy companies who engage in natural gas drilling by using hydraulic fracturing. Their aim? To stop fracking of course, but that’s not what they say in their [...]
Although the details are somewhat slim in the newspaper account, the known facts are that Southwestern Energy started construction on a well conductor pipe at a site in Wyalusing Township (Bradford County, PA) in early January, before the Susquehanna River Basin Commission (SRBC) had given its approval for said construction—something required by law. So the [...]
Last year, Susquehanna County landowner Herbert Kilmer sued ElexCo Land Services Inc. and Southwestern Energy Production to invalidate his lease. The reason? He said that by deducting drilling costs from his royalty payments, his payments fell below Pennsylvania’s law that a minimum one-eighth share of royalties are guaranteed to the landowner. A Susquehanna County judge [...]
From a Q4 2009 earnings call* held on Feb. 26, we learn the following about Southwestern Energy’s involvement in the Marcellus Shale: At December 31, 2009, we had approximately 149,000 net acres in Pennsylvania prospective for the Marcellus Shale. Our undeveloped acreage position as of December 31, 2009 had an average remaining lease term of [...]
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