Marcellus & Utica Shale Story Links: Thu, Jun 7, 2012

The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:

Middlefield Decision Receiving Another Look
Energy in Depth – NMI
The Middlefield decision, upholding that town’s ludicrous law outlawing anything and everything connected with natural gas, got another look last week by Judge Donald Cerio as he considered Jennifer Huntington’s Motion to Renew based on new evidence.

Chesapeake’s Rise a Bet on Icahn
Motley Fool
If today’s price movement is any indication Chesapeake Energy (NYSE: CHK) shareholders are betting on billionaire investor Carl Icahn to save the beleaguered one-time industry bellwether.

McClendon Recruits Top Lawyer for Securities Inquiry
Wall St. Cheat Sheet
Chesapeake Energy Corp. CEO Aubrey McClendon has recruited a top defense lawyer to represent him in a securities regulatory inquiry into the $1.3 billion in personal loans he took out against the company, according to a Reuters exclusive.

Obama’a war on fossil fuels will mean lights out for W.Va. economy
The West Virginia Record
A new report shows that the West Virginia economy was one of the bright spots among all states in 2011.

Power-washing company breaks into shale business
Zanesville Times Recorder
Darin Jordan has almost more business than he can handle — and he couldn’t be more pleased.

Chesapeake Energy’s Annual Meeting Won’t Be Blocked by Judge
The Washington Post
Chesapeake Energy Corp.’s annual meeting can proceed, a judge ruled, over the objections of shareholders who sought to delay tomorrow’s event.

Icahn wants to start selling parts of Chesapeake, share price rises
Platts
Shares in Chesapeake Energy were up 5% in heavy trading Wednesday after billionaire investor Carl Icahn said he is in talks with the Oklahoma City-based company’s board about a cost-cutting plan that could include the sale of Chesapeake’s $4 billion stake in master limited partnership Chesapeake Midstream.

Okla. billionaire’s meltdown could mean more Pa. fracking
Philly.com
OK, SO THINGS aren’t looking so good right now for flamboyant Oklahoma City oil-and-gas mogul and possibly now ex-billionaire Aubrey McClendon.

Kenan Advantage Group Expands Energy Market Services
MarketWatch
The Kenan Advantage Group ("KAG") announced the expansion of its comprehensive services to the energy market through the acquisition of Highland Environmental, LLC ("Highland"). The transaction closed on May 21, 2012.

Smart Sand, Provider of High Quality Proppant to the Oil and Gas Industry, Announces Major Investment in Oakdale Wisconsin Facility
MarketWatch
The facility, located on more than 1,100 acres, has an initial processing capacity of over one million tons per year, an extensive base of in-place permitted frac sand reserves, and is expected to be operational later this month.