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EOG Wins Contract to Frack Under OH’s Keen Wildlife Area for $212K
The Ohio Oil and Gas Land Management Commission (OGLMC) continues to do its job. Yesterday, the group held a meeting and awarded five contracts for drilling and fracking UNDER (not on) several state-owned lands, including a contract with EOG Resources to drill under 85 acres in Keen Wildlife Area in Washington Township, Harrison County, for $211,650 ($2,500/acre). Also of interest at yesterday’s meeting was that 40 parcels of land in Salt Fork State Park and Salt Fork Wildlife Area were removed from the committee’s agenda. Apparently, the nominating company withdrew its application for those tracts.
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Sometimes, we are at a loss to explain the actions of “our side” (the fossil fuel industry). This is one of those times. Penn State University, in recent years, has become hostile to fossil energy and the shale fracking that pervades (and blesses) the state. Yet petrochemical giant Shell, with its $15 billion ethane cracker in Beaver County, PA, is donating $1 million to Penn State to fund (and we quote): “initiatives focused on energy transition, decarbonization, polymer recycling and biodiversity, and the creation of an inclusive and innovative energy workforce.” Translating the gobbledygook: It’s $1 million to fund a way to put Shell and other fossil energy companies out of business. We have to ask, Why would Shell do this?
Yesterday, the “front month” NYMEX natural gas contract for Sept. delivery gained 4.60 cents per million British thermal units (MMBtu), rising 2.15% to $2.1890/MMBtu. Hey! Above $2 for five consecutive trading sessions! How long will the price stay above $2? Zacks.com took a stab at answering that question.
One of the pleasures we’ve had over the years in writing MDN and attending various industry events is meeting the great people who either work in or support the oil and gas industry. One of those people is Alex Epstein, author of the book, “
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