US Sen. Joe Manchin (D) Supports Drilling, Criticizes Obama
It seems lately that it’s a rare Democrat who goes on the record to support shale gas drilling, so when it happens, MDN is happy to mention it. U.S. Senator Joe Manchin from West Virginia, former governor of that state who won a special election to fill the seat of Robert Byrd, said the following at a recent symposium on natural gas:
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Dr. Shikha Sharma, an assistant professor at West Virginia University and the lead researcher of a new WVU study looking at the source of methane found in water supplies (
Chevron is the latest large energy company to purchase leases in the Ohio Valley for shale gas drilling. Recently, Hess paid $1.34 billion to acquire acreage in eastern Ohio, and Exxon Mobil subsidiary XTO Energy is now signing up landowners in Belmont County, OH for Utica Shale drilling (
In March 2010, CONSOL Energy (Cecil, PA) paid Dominion Resources $3.5 billion for 500,000 acres of Marcellus Shale gas leases, instantly tripling their lease holdings. Since that time, CONSOL has continued to invest in Marcellus acreage and they now have 750,000 acres under lease. But CONSOL had a problem: Not enough money to develop their vast Marcellus acreage. So they did what is now a common practice—they found a partner to invest. Yesterday, CONSOL and Noble Energy (Houston, TX) announced that Noble will buy a 50 percent interest in 663,350 net undeveloped acres and fund drilling and completion costs in a deal worth $3.4 billion over an eight-year period.