State College-based Eclipse Resources, previously with 41,000 Utica Shale acres in eastern Ohio, has just picked up another 184,000 acres in Ohio by buying out The Oxford Oil Company. Some 49,000 of those new acres are in Belmont, Guernsey, Monroe and Noble counties–Utica-rich areas in the eastern part of the state.
According to the Eclipse announcement, Oxford Oil will be renamed Eclipse but will become a subsidiary, continuing to function as before. According to Eclipse CEO Ben Hulburt, this purchase makes Eclipse one of the largest acreage holders in the “core” of the Utica Shale play… Continue reading
You’ve got to hand it to George Soros–the guy has chutzpah. In case you don’t know who George Soros is, he’s an 82 year-old super-investor (think Warren Buffet) whose investments at last check were worth $9.5 billion. Soros was convicted of insider trading in 2005. He’s also accused of causing “Black Wednesday” in 1992 when his currency manipulation schemes precipitated a worldwide economic crisis. Soros essentially owns the Democrat party in the United States–he’s one of the (perhaps the) biggest contributors to their coffers. He’s a socialist (which used to be a bad word before Obama). His politics are slightly left of Attila the Hun.
Soros is also linked to the nefarious anti-drilling Public Accountability Initiative (see Soros-backed PAI Makes University of Texas Look Foolish). But what’s this? Two of the top five companies that Soros currently invests in are…wait for it…shale drillers! That’s right. Soros funds anti-drillers (PAI, the Democrat party, who knows what else) and at the same time invests in what he knows is the biggest energy bonanza that will happen during the rest of his lifetime. It’s kind of like those sleazy weapons manufacturers that sell to both sides of a war in a third world country.
So, which two drillers are in the Soros top five? One of them is a major Marcellus driller… Continue reading
A Utica Shale well being drilled by Halcon Resources in Trumbull County–the Kibler 1H well–is causing problems for nearby residents of the Westwood Lake mobile home park. The chief complaint is the loud noise from the well due to flaring (burning off initial waste coming from the newly drilled borehole). Residents are also concerned about possible air pollution, and they’ve asked the Trumbull County Commissioners board to investigate and enact new zoning ordinances… Continue reading
MDN is a huge fan of the Marcellus Shale Coalition (MSC), which is headquartered in Pittsburgh. Every year they host one of the best (we consider it the best) Marcellus conference and trade shows, called Shale Insight (we heartily encourage you to attend).
More tales of how Utica/Marcellus drilling leads to new businesses moving in to an area (or starting up), which leads to new jobs, new sources of tax revenue and an overall economic boost.
These two latest reports come from (1) St. Clairsville, in Belmont County, OH (close to Wheeling, WV), and (2) northeast PA (near Scranton). Businesses related to the drilling supply chain–from clothing supply stores to construction companies to railroad transloading facilities–are “popping up” all over the Utica and Marcellus. Perhaps their stories will inspire you and your business to get involved with the drilling supply chain… Continue reading
Last November, MDN told you about another 30 jobs on the way in Youngstown, OH thanks to fracking and shale drilling in the Utica/Marcellus Shale (see New Gas Equipment Plant Coming to Youngstown, OH). On Wednesday, Valerus and Brilex Industries held a ribbon cutting ceremony to celebrate their joint venture in expanding the Brilex manufacturing facility in Youngstown. Valerus manufactures and sells equipment for the midstream. Brilex is a local Youngstown machine shop/manufacturer.
The partnership invested $1.5 million to expand the Brilex facility to manufacture equipment for Valerus. At the ceremony on Wednesday, Brilex president Brian Benyo said 10 jobs have already been created and another 20 are on the way–in fabrication, pipe fitting, welding and mechanical assembly. Continue reading