In typical fashion, anti-drillers have brought out the long knives for pro-drilling PA Gov. Tom Corbett. The latest attempt to try and influence next year’s election cycle is brought to you by the Philadelphia Inquirer.
This story paints the picture that a wealthy political donor whose company hauls drill cuttings got special treatment from the (then) incoming Corbett and the state Dept. of Environmental Protection in early 2011 in return for a $100,000 political donation. That is, the Inquirer says, in so many words, that Corbett was bribed. Was he?
We suppose it’s no surprise, really, but the left-leaning Albany Times Union, a newspaper no doubt read by Gov. Andrew Cuomo, ran an editorial yesterday that dredges up all of the hackneyed, debunked, half-thought-out and simply untrue reasons why New York should ban fracking—and the Times Union went on record supporting an ongoing ban.
Let’s apply a little logic to answer the nagging angst experienced by the Times Union editorial writers, since logic seems to escape them. We’ve interspersed MDN’s comments throughout to provide perspective and answers.
Carrizo Oil & Gas announced their 2013 spending plans today. Drilling activities will see a $500 million investment by Carrizo, with $70 million of that allocated to drilling in the Marcellus Shale. Also, Carrizo announced that yesterday they closed on an option to pick up more acreage from Avista Capital in the Ohio Utica Shale for $63 million.
The Utica deal means Carrizo now owns 14,000 net acres located in Guernsey, Noble and Tuscarawas counties in Ohio—although they’ve not allocated money to drill in the Utica for 2013.
It’s a sad and ironic day: The town for which the Marcellus Shale is named, Marcellus, NY (Onondaga County, near Syracuse), has voted to ban the Marcellus—as in no Marcellus Shale drilling will be allowed in the township.
By a 5-0 vote last night, the town board illegally stripped away the Constitutional property rights of all of its citizens in contravention to New York State law…
Pennsylvania electric & gas utility UGI Corporation announced yesterday they’ve cut a deal with driller Tenaska Resources to jointly develop Marcellus Shale projects in both Potter and Tioga counties in north-central PA. Over the next 10 years UGI will invest $65 million to build a new gathering pipeline system in Potter County, and another $25 million investment in return for a 19% interest in Tenaska’s Tioga County acreage/operations.
From the UGI announcement yesterday:
Canadian’s largest natural gas driller and a major player in the Marcellus Shale, Encana Corp, announced on Friday that CEO Randy Eresman and resigned and left the company. The announcement was “out of the blue” and caught investors and industry insiders by surprise.
Encana appointed board of directors member Clayton Woitas (former CEO of Renaissance Energy) as interim CEO, a move which some speculate means the company may be up for sale. That rumor, however, is roundly refuted by Woitas:
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading: