Norse Energy “Reduces” Employees by 50 Percent

Early today, Norse Energy, a Norwegian company with gas drilling operations in New York State, issued an interesting press release about laying off half of their employees (see the full release below). Norse holds some 180,000 net acres of natural gas leases in New York, of which 130,000 are in the Marcellus and Utica Shale zones.

Until recently, Norse was using conventional vertical methods of drilling for natural gas in Upstate New York counties like Chenango and Madison. But Norse announced in early August that they are “betting the farm” that New York will adopt new regulations to allow shale gas drilling, and so they have focused the company on that prize. So much so they have filed the very first permits to drill in the Utica Shale in New York and have ceased all other kinds of gas drilling until it happens (see this MDN story).

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