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 [...]
Wayne Independent (Nov 2): Few regulators in place for natural-gas drilling At a recent meeting in Preston Township (Pennsylvania), Department of Environmental Protection (DEP) officials talked about their role in inspecting gas drilling operations in the Marcellus Shale. The article attempts to make the case there are far too few inspectors for the growing number [...]
From a Reuters news story on the Financial 24 website: Exxon Mobil Corp, the world’s largest publicly traded company, has leases on 19,400 acres in the Marcellus Shale, a formation that is said to hold vast amounts of natural gas. In September, Exxon bid $85.2 million for 18 blocks in the Marcellus, a large shale [...]
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