Marcellus Drilling News

Is NYS State Senator Tom Libous Reversing Course on Drilling?

February 7, 2012February 7, 2012

not a good sign Are the political winds shifting in New York State among the politicians that have been staunch supporters of gas drilling? There’s perhaps no stronger supporter among elected politicians in Albany than Tom Libous, a powerful state senator from Binghamton. Sen. Libous is the deputy majority leader of the NYS Senate and a member of the DEC’s Hydraulic Fracturing Advisory Panel (see this MDN story).

So when MDN spotted this quote by Sen. Libous in the New York Times in a story about how the review and approval process for fracking in the state is slowing down, it gives us great pause:

Anadarko Offers $3K/Acre + 17.5% Royalties for Utica Lease

February 7, 2012February 7, 2012

Coshocton County in eastern Ohio requested Utica Shale lease offers for 436 acres of county-owned land no longer being used for any other purpose. There was only one offer put on the table, by Anadarko. Under the five-year lease offer, the county would receive a $1.3 million signing bonus ($3,000 per acre) and 17.5 percent in royalties.

Exxon to Drill First Ohio Utica Shale Well in Belmont County

February 7, 2012February 7, 2012

According to press reports, XTO Energy—a subsidiary of Exxon Mobil—will drill its first Ohio Utica Shale well in Belmont County.

Hydraulic Fracturing | Industrywide Issues

U.S. Energy Independence is Happening – Because of Fracking

February 7, 2012February 7, 2012

One of the arguments often raised to support shale gas (and shale oil) drilling is that it will help America become energy independent. In a wide-ranging article on the topic, Bloomberg says that promise is being fulfilled—because of hydraulic fracturing. The article starts this way:

Energy Companies | WPX Energy

WPX Energy Cuts Back Marcellus Rigs, Focused on Oil & NGLs

February 7, 2012February 7, 2012

Early this year, Williams officially spun off it’s exploration and production operation into a new company called WPX Energy (see this MDN story). The new company inherited one of the top 10 drilling operations in the Marcellus and Utica Shales.

Yesterday, WPX announced their capital spending plans for 2012 and it’s no surprise, given similar announcements from other major drillers, that WPX is scaling back drilling in the Marcellus from seven rigs to three due to the low commodity price for natural gas. WPX is shifting capital resources to the Bakken Shale where they are drilling for oil and to those geographies rich with natural gas liquids (NGLs).

Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Regulation | Statewide PA

PEC’s Lukewarm Statement of Support for New PA Drilling Law

February 7, 2012February 7, 2012

The mostly anti-drilling organization Pennsylvania Environmental Council (PEC) issued an interesting statement yesterday, commenting on new Marcellus drilling legislation that will likely be passed and signed into law this week in PA. Here is the entire press release:

Best of the Rest

Marcellus & Utica Shale Story Links: Tue, Feb 7, 2012

February 7, 2012February 7, 2012

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