Yesterday morning the new acting CEO of Chesapeake Energy, Steve Dixon, delivered his first investors talk as CEO. One of the primary parts of that talk—indeed we would say the centerpiece—were remarks about the Utica Shale and its importance for Chesapeake as they move forward. According to Dixon, Chesapeake’s production in the Utica for 2012 will show lower numbers than otherwise possible because of lack of pipelines and processing plants. Dixon says that will soon change, and so too will their production numbers.
Dixon began his remarks with a 10-second “so long and thanks for all the fish” acknowledgment to the departed Aubrey McClendon:
The Brookings Institution, one of America’s oldest Washington, D.C.-based think tanks, conducts (and shares) research on a variety of topics, mostly economics-related. Brookings recently released a new report titled: Natural Gas Liquids (full copy embedded below). The report focuses on an aspect of the shale revolution researchers at Brookings believe is often overlooked–but critically important.
From the basics of describing what NGLs are and where they are found to how they are mined and the economics and key players–this short 15-page report does an excellent job of briefing readers without becoming a data dump. Here’s a brief description of the report and a summary of its five key takeaways, from the Brookings website: Continue reading
Good news for drillers, landowners and consumers who want to see more low-cost Marcellus Shale gas flowing to East Coast markets. On March 22, the U.S. Army Corps of Engineers green lighted Tennessee Gas Company’s Northeast Upgrade pipeline project to cross wetlands (i.e. swamps), rivers and streams in the Delaware River watershed. Hooray! The Corps didn’t cave to eco-nut, anti-progress pressure.
The details on where the new extensions are being built:
Yoko Ono, who in recent years has become a pornographer (see this story about her 2012 “fashion line for men”), is a national treasure to the eco-nut left in this country. She’s trying to grab a second 15 minutes of fame by riding the coattails of the fracking issue, starting the group Artists Against Fracking (see Yoko Ono and Son Sean Lennon Go on Anti-Fracking Tirade). Ono has recruited a number of big (and clueless) celebrities to support her organization. One-percenters like Ono and Susan Sarandon are throwing a lot of money into Artists Against Fracking in hopes they can stop fracking in New York. Problem is, they’re supposed to register as lobbyists if they spend over $5,000, to keep spending transparent and above-board (and not greasing somebody’s palms). But they haven’t and don’t want to register–you know, they’re above petty things, like the law.
What’s interesting about the story of Artists Against Fracking not registering as lobbyists is how the media covers it. Most mainstream media, instead of questioning Ono about why she doesn’t want to obey the law, goes after the drilling industry instead! Unbelievable. But that’s what we’ve come to expect from “news” organizations like Associated Press: Continue reading
Pennsylvania, Ohio and West Virginia state governments watch out—the federal government is making noise about requiring you to provide monthly production reports for oil and gas production. The AP says the feds are working on a “proposal” to have Pennsylvania in particular move to a monthly reporting system. When was the last time the federal government ever “proposed” something that wasn’t actually “required”? But we digress… Apparently, the Marcellus Shale Coalition is on board with this “proposal” as well…
We have no doubt the Union of Concerned Scientists (UCS) is anti-fracking. However, they do have some good writers for their The Equation blog site–and we always appreciate good writing. Yesterday, the brainiacs at UCS posted an April Fool’s story with this headline: “Pennsylvania High School to Host Bizarre Swim Meet – in Fracking Fluid.” It is a hysterically funny joke–written so well you almost believe it! The author tweaks us into thinking a PA high school is about to fill its swimming pool with fracking fluid and have young people swim in it at their next swim meet. Brilliant! It’s the kind of thing we wish we had thought of and written. No doubt some people will fall for the ruse.
The eco-nuts (Frack Action, Sierra Club, Catskill Mountainkeeper) are attempting to whip the troops into yet another frenzy to get them to call Gov. Andrew Cuomo’s office and tell him to forget about fracking. We’re sure the switchboard operators at the governor’s mansion appreciate it…
The Ohio Sierra Club is looking for volunteers to join their Water Sentinel Program—a program that uses volunteers to periodically test rivers and streams. So far they have about 150 “sentinels” to do the work, but more snitches volunteers are needed: