Marcellus & Utica Shale Story Links: Tue, Feb 26, 2013
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
New Jersey
If Trees Could Talk They’d Say “Burn Natural Gas, Not Wood”
Energy in Depth – NMI
The Delaware Riverkeeper and friends have gone hyperbolic over the Tennessee Gas Pipeline upgrade of its natural gas pipeline through Pike County, claiming all sorts of forest disasters from this project intended to deliver more inexpensive energy to New Jersey. But their real goal isn’t to protect trees or rivers, but to stop natural gas development anywhere and they’re paid to do it.
New York
‘Fracking’ debate hits home for NY, PA communities
The Daily Caller
“The Pennsylvania-New York border is the ‘Berlin Wall,’” Karen Moreau, executive director of the New York State Petroleum Council, told The Daily Caller News Foundation. “Pennsylvania is West Berlin, and New York is East Berlin.”
Ohio
FirstEnergy Corp. reports slowing power sales, hopes shale gas will ignite industrial renaissance
Cleveland.com
Top executives blamed a sluggish regional economy — including a 3 percent decline in industrial demand for the year-over-year drop in sales during a conference call with analysts. But they added that shale gas development in Ohio and Pennsylvania could change everything.
The State of the State is Strong Thanks to the Utica Shale
Energy in Depth – Ohio
While Governor Kasich is set to give his 2012 State of the State address in Lima, Ohio, which is coincidentally home to a large refinery that could benefit from increased Utica Shale/Point Pleasant production, the Columbus Dispatch wrote an editorial touting the many successes of the Governor since the inception of his administration.
Pennsylvania
State officials to tap state forest drilling royalties for revenue
The Citizens’ Voice
State conservation officials plan to tap more revenue from oil and gas drilling royalties and timber sales to start to tackle a backlog of $1 billion in infrastructure repairs in the state-owned parks and forests.
Shale Plays: A Positive for Railways in the Appalachian Basin
GantDaily.com
Despite the lower natural gas prices, railroads operating in the Marcellus and Utica shale areas continue to enjoy a productive year, according to the Penn State Extension.
Education Options, Part 2: Current shale boom casts new light on county’s economic future
New Castle News
Welcome to the Industrial Revolution of 2013. The Marcellus Shale phenomenon has arrived with the promise of jobs and prosperity for an area in dire need of just such a miracle.
Epiphany Solar Water Systems shifts focus to fracking
Pittsburgh Tribune-Review
Tom Joseph is taking a detour to get to his dream of seeing his company’s solar-powered water purification systems provide clean water for billions of thirsty people worldwide.
National
Chesapeake’s Future Is Brighter Than You Might Think
The Motley Fool
As used to be said in jest about Elvis, Aubrey McClendon has left the building — figuratively, at least. But since investing is an exercise in attempting to forecast the future, postmortems regarding Chesapeake Energy’s co-founder and longtime CEO’s accomplishments and foibles are now of little value.
Chesapeake sells stake in assets to Sinopec for $1.02 bln
Reuters
Chesapeake Energy Corp will sell a 50 percent interest in some of its oil and gas properties in the Mississippi Lime shale formation to Sinopec Group for $1.02 billion cash, a valuation that fell short of some expectations.
Sinopec’s U.S. Shale Deal Struck at Two-Thirds’ Discount
Bloomberg
China Petrochemical Corp.’s $1.02 billion deal with Chesapeake Energy Corp. (CHK) gives the second- largest Chinese energy producer a stake in a shale oilfield for less than one-third of its estimated value.
Chesapeake, Encana sued for alleged collusion in bidding for Michigan leases
SNL Financial
In the suit, filed Feb. 22, NorthStar Energy LLC accuses the two sides of working together in an effort to decrease the price of leases on approximately 9,838 acres of land NorthStar owned in six counties in northern Michigan.
U.S. EPA Inspector General Reports on Need to Improve Air Emissions Data for Oil and Gas Sector
ShaleEnergyLawBlog
In a report issued last week, the U.S. Environmental Protection Agency’s (EPA) Office of Inspector General (OIG) asked the agency to improve its air emissions data for the oil and gas industry.
Late-Season Cold Snap To Favor Natural Gas Bulls As Storage Surplus Likely To Narrow
Seeking Alpha
Since the beginning of the withdrawal season the week of November 9, 2012, the natural gas surplus has waffled from +209 BCF to as high as +413 BCF before settling most recently at +361 BCF, up 152 BCF for the season.