MWCD Signs Lease for 7,300 OH Acres – $5,500/Acre + 20% Royalties
For the better part of a decade, MDN has brought you stories about shale development in the Muskingum Watershed Conservancy District (MWCD), an agency formed in 1933 to help control flooding and promote water conservation in the Muskingum River watershed area of Ohio, an area that covers 8,000 square miles. Over the years MWCD has leased thousands of acres for Utica Shale drilling and cut deals to sell water to drillers for fracking. It’s been a while since the last lease announcement. MWCD has just completed negotiations to lease more of its land for drilling. We have all the details.
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We’ve tackled the issue of why there isn’t more oil and natural gas drilling happening in the Marcellus/Utica and beyond even with prices for both commodities through the proverbial roof. Not that many years ago prices were a fraction of what they are now and yet the drilling industry would not, could not stop drilling new wells, flooding the market with product and crashing prices. Now, it’s the reverse! It seems nothing will incentivize drillers to drill any new wells beyond enough to keep production steady. Why? An article in the Wall Street Journal seeks to answer the question, definitively.
The world’s so-called leaders will meet in Stockholm, Sweden, on June 2-3 to commemorate the 1972 United Nations Conference on the Human Environment and celebrate 50 years of failed global environmental action. It will be another attempt at establishing a Green World Order–subjugating all of humanity under the banner of “saving” us from global warming. It’s all a sham, of course. Stockholm+50, as it’s called, is the rise of the parasitic New Communism using the environmental movement as its host. Here’s something for the delegates at Stockholm+50 to consider and debate: How will the world react to half of its population, around 4 billion people, dying from starvation if fossil energy is outlawed?
OTHER U.S. REGIONS: SpaceX scrubs plan to build mini LNG plant; Hackberry Carbon Sequestration project launched at Cameron LNG in Louisiana; NATIONAL: U.S. retail diesel prices increase to over $6 per gallon in the Northeast; Lefties look to make grilling a little greener; INTERNATIONAL: Oil inventories down to dangerously low point; Extinction Rebellion starts fossil industry protests in Rotterdam; Ruble hits 5-year high as gas buyers bend to Putin demand.