India’s largest private sector company, and one of the world’s largest energy companies, Reliance Industries Limited (RIL), is in a bidding war with Chevron to buy Atlas Energy. A primary motivator for both companies is the large number of net acres Atlas controls in the Marcellus Shale region. Just last year RIL and Atlas formed a joint venture, a deal that would have been worth $3.5 billion over ten years. Now that Atlas is on the block, RIL wants to tie the knot permanently. But another suitor has arrived and is vying for Atlas’ affections by offering $4.3 billion: Continue reading
The Platts energy news service has already unearthed some problems with the statements made yesterday by Congressional Democrats Henry Waxman, Edward Markey and Diana DeGette that claim some energy services companies are injecting “millions of gallons” of diesel fuel into hydraulically fractured wells, violating the Safe Drinking Water Act. It seems (surprise!) some of the so-called facts they shared with the EPA are not quite accurate according to the agencies which actually regulate drilling in their states: Continue reading
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 press statement. They’re just little ‘ole investors encouraging companies to “do the right thing” … Continue reading
MarkWest Energy announced that today they closed on the previously announced acquisition of EQT’s natural gas processing complex in Langley, Kentucky and an associated natural gas liquids (NGL) pipeline for $230 million. Continue reading
A new landowner coalition, The Loretto Landowners Group, is forming in Cambria County, PA on February 2. Their hope is to negotiate a lease with gas companies looking to drill in the Marcellus Shale. Continue reading
The Pennsylvania Department of Environmental Protection (DEP) conducted air quality testing from August to October of 2010 at a number of natural gas drilling sites that use hydraulic fracturing in Susquehanna and Sullivan counties, including a Cabot Oil drilling site in Dimock, PA. The DEP looked for compounds associated with petroleum-based products that may have become airborne. They also looked for other compounds, like elevated levels of carbon monoxide and nitrogen dioxide.