Penn Virginia Corporation (“PVA”) announced it has acquired approximately 10,000 net Marcellus Shale acres primarily in Potter, Somerset and Tioga Counties, Pennsylvania in two transactions for approximately $19.5 million in cash and overriding royalty interests on a portion of the acquired acreage. The first acquisition was from a private oil and gas firm who was [...]
East Resources, a major drilling company in the Marcellus Shale, especially in Pennsylvania, is selling itself to Royal Dutch Shell for a whopping $4.7 billion. From drilling a single horizontal Marcellus Shale gas well in 2009, East has drilled some 75 horizontal wells in the past 12 months. East did have plans to drill 6,000-7,000 [...]
Little, rural Bradford County located in northeastern Pennsylvania is seeing a boom in new jobs: According to the Pennsylvania Department of Labor and Industry and the Center for Workforce Information and Analysis, Bradford County led the Commonwealth of Pennsylvania in net job growth from March of 2009 to March 2010. According to the Northern Tier [...]
Depending on your viewpoint, one of the benefits (or drawbacks) of an increase in drilling activity is the rise in rental prices for apartments and houses. The borough of Wellsboro in Tioga County, PA (population about 3,300) is experiencing a real estate boom due to drilling. Prices for apartments around Wellsboro have doubled: [Real Estate [...]
Nothing lasts forever, as the old cliché goes, and neither will drilling. While we are at the very beginning of what will be a life-changing event for many landowners, a natural question is, How long will it last? How long before the natural gas locked away in the Marcellus is largely mined from the ground? [...]
PVR Midstream, a division of Penn Virginia Resource Partners, has signed an agreement with Range Resources to construct and operate pipelines and compression facilities for Range’s drilling in the Marcellus shale in PA. According to the press release: PVR Midstream and Range have agreed to an area of mutual interest (AMI) that covers parts of [...]
East Resources, an independent oil and gas drilling company with a big stake in Tioga County, Pennsylvania, has just donated $50,000 to the Tioga County 4-H. East Resources, Inc. today signed an agreement with Penn State’s Cooperative Extension Service to create a new 4-H endowment fund for Tioga County. East created the endowment with an [...]
Williamsport Sun-Gazette (Feb 18) New ventures in natural gas may take Tioga County from ‘rags to riches’ An influx of people and jobs will lead to a boon in economic growth for Tioga County, Pennsylvania, according to an article in the Williamsport Sun-Gazette. Local resident Ed Trask is setting up a Community Education Team to [...]
Ultra Petroleum News Release (Feb 12) Ultra Petroleum Reports Strong Financial and Operating Results and Record Production for 2009 A portion of the release relating to its operations in the Marcellus in PA is extracted below: During 2009, Ultra drilled 37 gross (22.5 net) wells in Pennsylvania. The company’s first production in the Marcellus program [...]
Wellsboro Gazette (Nov 18): Marcellus Shale, climate change, money, politics and the environment Pennsylvania is offering state-owned land for lease to energy companies interested in drilling in the Marcellus Shale. According to the article: Monday, the secretary of the Department of Conservation and Natural Resources (DCNR), John Quigley, announced that six tracts of land are [...]
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