The rumor mill is buzzing that Range Resources is a prime candidate for a takeover. With 1.2 million acres of Marcellus leases, whoever buys it will need deep pockets. Both BP and Exxon Mobil have been mentioned as potential suitors.
Read More “Rumor Mill Buzzing: Is Range Resources Takeover Target?”
A group of 18 Tioga County, NY landowners have sued Inflection Energy to overturn Inflection’s “force majeure” claim to extend the lease on their collective 1,200 acres. A force majeure clause is written into most gas lease contracts. It means a driller can automatically extend the length of the lease if there are unforeseen events that hinder the terms of the contract—in this case commencement of drilling—from happening.
Read More “NY Landowners Sue Inflection Energy over Force Majeure”
The Pennsylvania Department of Environmental Protection released new gas well production data on Friday for the second half of 2011. Gas production was up an aggressive 40 percent in the second half of the year. PA now produces more gas than they consume, making the state a net exporter of natural gas.
Read More “Where was PA’s Top Producing Marcellus Well in 2011? Dimock”
The Pennsylvania Department of Environmental Protection reports it is investigating a spill of condensate at a gas well in Washington County, in the southwestern part of the state.
Read More “Drilling Liquids Spill at Chevron Gas Well in SW PA”
Magnum Hunter’s subsidiary company, Triad Hunter, has just closed on a lease deal to take possession of 15,558 gross (12,186 net) acres in Ohio’s Utica Shale. The deal is for $2,037 per acre, or $24.8 million total. The seller has not been identified and according to the press release the seller may have more acreage to sell to Triad Hunter if they can clear up problems with title to some of the additional property.
Read More “Triad Hunter Buys Leases for 15.5K Acres in OH Utica Shale”
Talisman Energy is the latest major driller to announce they are cutting back on drilling in the dry gas Marcellus to instead concentrate on drilling in wet gas areas.
Read More “Talisman Cutting Back in Marcellus from 10 Rigs to 3”
Under pressure from low commodity prices for natural gas causing a cash deficit for drilling, Chesapeake Energy is looking to sell off some of its oil and gas fields in Texas, Mexico and Oklahoma so it can continue to concentrate on drilling in eastern Ohio’s Utica Shale and other “wet gas” areas of the country.
Read More “Chesapeake Selling Assets to Concentrate on OH/Wet Gas”
One of the possible locations for a new ethane cracker plant in West Virginia is a 1400-acre parcel of land owned by Bayer Corp. located on the border of Marshall and Wetzel counties. Ahead of an announcement on a cracker plant, Bayer has decided to move forward with leasing the New Martinsville plant for shale gas drilling to Gastar Exploration in a deal expected to net Bayer $30 million over 30 years.
Read More “Potential Cracker Plant Site in WV Leased for Drilling”
It seems that Pennsylvania has finally woken up to the fact that Shell is about to decide where they will invest some $2 billion and generate thousands of new jobs by building an ethane cracker plant. One of three bills signed into law by PA Gov. Tom Corbett on Monday was a bill that,
In December, MDN reported that Houston-based Crestwood Midstream will construct a new 16” inch Marcellus gathering pipeline that will run 42 miles through Preston, Taylor and Barbour counties in northeast West Virginia, connecting to Columbia Gas Transmission’s WB Pipeline in Randolph County, WV, delivering Marcellus gas to the Washington, DC and Baltimore markets (see this MDN story).
Read More “Mum’s the Word on New Tygart Valley Pipeline in WV”
The Utica Landowner Group of eastern Ohio has just cut a deal with Antero Resources for what is believed to be the highest amount paid yet for a lease deal: $5,900 per acre for a signing bonus, and 21 percent royalties. The deal covers land in Belmont, Monroe and Noble counties in Ohio.
Read More “Antero Pays Record Rates in Eastern Ohio Utica Lease Deal”
Chesapeake Energy, the nation’s second-largest natural gas producer, has pioneered a new technology that allows them to recycle up to 100 percent of fracking wastewater to be reused on new wells being fracked. The technology, called Aqua Renew (video embedded below) means less wastewater going either to municipal treatment facilities or injection wells for disposal.
Read More “Chesapeake’s Fracking Wastewater Treatment Technology”
The Pennsylvania Department of Environmental Protection (DEP) yesterday fined Chesapeake Energy a total of $565,000 for major violations at three Marcellus Shale wells in Potter and Bradford counties in 2010 and 2011.
From the DEP press release:
Read More “PA DEP Fines Chesapeake Energy $565K for Three Violations”
An article on the SNL Financial website about the “massive shift” from drilling in dry gas (methane only) shale gas areas to the natural gas liquids (NGLs) areas begins this way:
Read More “The Massive Shift Underway from Dry to Wet Gas Drilling”
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.
Read More “Anadarko Offers $3K/Acre + 17.5% Royalties for Utica Lease”
According to press reports, XTO Energy—a subsidiary of Exxon Mobil—will drill its first Ohio Utica Shale well in Belmont County.
Read More “Exxon to Drill First Ohio Utica Shale Well in Belmont County”