First Shoe Drops: WPX Sells 1/2 Marcellus Assets to Southwestern
As we’ve been saying for some time, WPX Energy, the spun off but totally independent exploration & production company that was once part of midstream giant Williams, has been looking to exit the Marcellus stage left (see Flip Flop: All of WPX’s Marcellus Wells on the Auction Block). The first shoe has now dropped: WPX announced yesterday they’ve sold all of their Susquehanna County, PA leases and wells to Southwestern Energy for $300 million. We have all of the facts of the deal–how many acres, how many wells–along with answers to questions that landowners still signed with WPX in other PA geographies want to know–primarily, “Are we next?” We also have Southwestern’s take on the deal and (interestingly) what they seem to most value about the deal. It may surprise you…
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Just when you thought it was the season of peace on earth and goodwill toward men (and women), the season of cheer and good tidings, eggnog and presents–along come wacky anti-drillers to screw up Christmas. Members of the radical Clean Air Council in Philadelphia are rewriting Christmas carols to include messages about nutty man-made global warming. Here’s some real creativity: “You better watch out, you better not cry, you better not pout, I’m telling you why. Climate Change is coming to town.” Wow. How much did these kids’ parents 
Flaring a well–which involves burning the initial volume of natural gas (typically waste gas) or because a pipeline is not yet available to hook up to the well–is increasingly a rare event. Most companies attempt to capture even the initial amounts of gas. However, Range Resources is set to begin flaring their very first Utica Shale well, drilled about 10 miles from Washington, PA on the property of the Claysville Sportsmen’s Club in Donegal Township, east of Dutch Fork Lake. The flaring will begin on Dec. 7 and according to Range it will be really big, and really noisy…