Energy Companies 431 - Marcellus Drilling News

Update on Well Explosion in Western PA

February 25, 2011February 25, 2011

Chesapeake Energy was flaring three gas wells in Avella, located in Washington County, PA on Feb. 23 when tanks holding some 105,000 gallons of natural gas liquids exploded. Contrary to some reports, the explosion had nothing to do with hydraulic fracturing fluids. The cause of the explosion is still under investigation and not known at this time.

As for the three workers injured, at least one of them is still in critical condition:

Explosion at Chesapeake Drilling Site in Western PA Injures Three Workers

February 24, 2011February 25, 2011

An explosion last night at a well site along the Pennsylvania/West Virginia border injured three workers and resulted in a fire that burned for about three hours.
Read More “Explosion at Chesapeake Drilling Site in Western PA Injures Three Workers”

Cabot Oil & Gas Calls Marcellus Operations “Prolific”; Penn Virginia Will Drill 14 New Wells in Marcellus in 2011

February 24, 2011

More gleanings from year-end financial statements from drilling companies, this time from Cabot Oil & Gas and Penn Virginia Corporation. Of note, Cabot talks about the “prolific nature” of their 44 Marcellus gas wells, and Penn Virginia will drill their second Marcellus gas well in 2011 as they continue to shift their resources to the Marcellus with plans to drill 14 wells this year.

Energy Companies | Reliance Industries

Reliance Industries Gets Major Investment from BP, What Does it Mean for Marcellus Shale?

February 22, 2011February 23, 2011

India’s largest private sector company, Reliance Industries Limited (RIL), has appeared prominently in the news for the past couple of days. And there’s a tie-in with the Marcellus Shale. Here’s the highlights:

Energy Companies | Energy Services | Williams | Williams Production

Williams Announces it Will Split, Exploration & Production Will Become Separate Company

February 22, 2011February 22, 2011

Williams is one of the largest energy producers in the U.S. Their operations include exploration & production (E&P), as well as “midstream” – or processing, storage and transportation of gas, including an extensive network of pipelines. In fact, Williams owns three interstate natural gas pipelines totaling some 15,000 miles in length. We now get word that Williams is going to split the company.

Blue Ridge Mtn Res/Magnum Hunter | Energy Companies | Talisman Energy | Ultra Petroleum | Williams Production

What We Learn from Financial Statements About Future Plans for Drilling in the Marcellus Shale

February 21, 2011February 21, 2011

Reading financial statements by corporations is about as fun as watching paint dry—but hey, someone has to do it. We do learn important tidbits of news from drilling companies about their recent activities, and more importantly, what they are planning for the coming year. Henceforth, a few gleanings from some recent financial statements.

Broome County, NY Landowners Sue Energy Companies that Try to Extend Expired Leases with “Force Majeure” Clause

February 17, 2011February 18, 2011

Many landowners in the Broome County, NY area who signed gas leases years ago are now receiving letters from the energy companies holding those leases that the landowner is “locked in” to the terms of the lease even though the original term has now expired. Why? The legal term is “force majeure,” which roughly means “due to circumstances beyond our control—the fact that New York State continues to prevent drilling—you have to stick with us for a while longer.” Because this involves contracts and interpretation of the terms of those contracts, it’s now in the hands of lawyers, or heading in that direction.

Atlas Energy | Chevron | Energy Companies | Reliance Industries

India’s RIL Loses Bidding War for Atlas Energy – $4.3 Billion Deal with Chevron Goes Forward

February 17, 2011February 17, 2011

India’s largest private sector company, and one of the world’s largest energy companies, Reliance Industries Limited (RIL), lost its bidding war with Chevron to buy Atlas Energy.

Energy Companies | Westmont Resources

Westmont Resources Sells Gold Mines to Pursue Bigger Pot of Gold in the Marcellus Shale

February 17, 2011February 17, 2011

Westmont Resources, an independent oil and gas production company with headquarters in Bellevue, WA, just sold off their Canadian gold mining properties so they can concentrate on oil and gas drilling in the U.S., particularly in the Marcellus and Chattanooga Shale plays.

CONSOL Energy | Energy Companies

CONSOL Energy Triples Marcellus Shale Gas Production in 2010

February 14, 2011February 14, 2011

CONSOL Energy had a banner year in 2010 for natural gas discovery and production. CONSOL’s daily production of shale gas nearly tripled in 2010 from 2009, in large part due to their acquisition of Dominion Resources. From a recent press release we get these numbers:

CONSOL Energy | Energy Companies | Pennsylvania | Statewide PA

Pro-Drilling PA Senator Joe Scarnati Accepts Free Super Bowl Trip from CONSOL Energy

February 14, 2011February 14, 2011

A bone-headed move by Pennsylvania’s top Senate Republican:

The state Senate president, a key player in the debate over natural-gas drilling in Pennsylvania, accepted a free trip from one of the state’s largest energy companies to see the Pittsburgh Steelers play in the Super Bowl.

Senate President Pro Tem Joe Scarnati, R-Brockway, had his ticket, plane ride, and hotel bill paid for by Consol Energy Inc., a major coal producer and one of the companies drilling for natural gas in the Marcellus Shale, according to Mr. Scarnati’s top aide.*

80,000 Fracked Wells in Ohio – Zero Groundwater Contamination

February 10, 2011February 10, 2011

Looks like there’s about to be interest in drilling Marcellus shale gas wells in the Yellow Springs (Greene County), Ohio area from West Bay Exploration:

Energy Companies | Garrett County | Maryland | Samson Investment Co | Statewide MD

Maryland Legislature Will Consider Whether or Not to Approve Hydraulic Fracturing

February 10, 2011February 10, 2011

Looks like we have dueling pieces of legislation before the Maryland legislature, one bill that would force the state’s Department of the Environment to either officially approve or deny permits by Samson Energy to drill in Western Maryland. The other bill would put a hold on drilling until “further studies” can determine whether or not it’s safe.

Triana Energy and Marathon Oil Join Forces in Deal to Drill 350 Wells in the Marcellus Shale in PA and WV

February 3, 2011February 3, 2011

Triana Energy is stepping up its commitment to drilling in the Marcellus Shale by entering into a partnership with Marathon Oil. From the official press release:

Energy Companies | EQT Corp

EQT Plans to Drill 86 Wells in the Marcellus in 2011, Adding More Midstream Infrastructure Too

February 2, 2011February 2, 2011

EQT Corporation is reducing it’s commitments to other gas exploration and concentrating on the Marcellus Shale over the next few years:
Read More “EQT Plans to Drill 86 Wells in the Marcellus in 2011, Adding More Midstream Infrastructure Too”

Atlas Energy | Chevron | Energy Companies | Reliance Industries

Reliance Industries of India in Bidding War with Chevron to Buy Atlas Energy

February 1, 2011February 1, 2011

India’s largest private sector company, and one of the world’s largest energy companies, Reliance Industries Limited (RIL), is in a bidding war with Chevron to buy Atlas Energy. A primary motivator for both companies is the large number of net acres Atlas controls in the Marcellus Shale region. Just last year RIL and Atlas formed a joint venture, a deal that would have been worth $3.5 billion over ten years. Now that Atlas is on the block, RIL wants to tie the knot permanently. But another suitor has arrived and is vying for Atlas’ affections by offering $4.3 billion:
Read More “Reliance Industries of India in Bidding War with Chevron to Buy Atlas Energy”