Antero Sells WV Midstream Operation to Crestwood for $375M
Antero Resources announced yesterday that they have sold their Marcellus Shale midstream gathering system in Harrison and Doddridge counties, WV to Crestwood Holdings for $375 million with a sweetener of an extra $40 million if certain production targets are met in 2012 and 2013.
From the Crestwood/Antero press release:
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A second court case decision in New York, this one in Middlefield (near Cooperstown) has ruled that local municipalities have the right to ban shale gas drilling within their borders. On Friday, Feb. 24 Acting Supreme Court Justice Donald F. Cerio, Jr. ruled that a previously passed drilling ban in the Town of Middlefield in Otsego County, NY is legal. A copy of the judge’s decision is embedded below. (Note: Thank you to an MDN reader for providing this exclusive copy of the decision that comes direct from the judge’s chambers.)
Yesterday, Tompkins County (NY) Supreme Court Judge Phillip Rumsey handed anti-drillers a first, and likely short-lived, victory. He ruled that the Town of Dryden, located near Ithaca, has the right to ban shale gas drilling. As with many legal issues, this one is complicated, so let’s take a look at the case, Judge Rumsey’s decision, and what happens next.
The Town of Caroline in Tompkins County, New York is about to pass a one-year ban on hydraulic fracturing. The question is, is it legal to do so? Attorneys who understand New York State’s oil and gas law say no.