Chevron Launches Appalachia Partnership Initiative with $20M
Kudos to Chevron. Yesterday the company announced $20 million in grants for education and workforce development in 27 counties across Pennsylvania, West Virginia and Ohio. Called the Appalachia Partnership Initiative, Chevron aims to fund education (for students) and training (for workers) in STEM–Science, Technology, Engineering and Math. A variety of programs and organizations will be the recipients of Chevron’s largess…
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The Chesapeake Energy fire sale continues–and this time it’s cut right into the bone and sinew of the company. The beneficiary of Chesapeake’s ongoing divestiture, this time, is Southwestern Energy. Southwestern has signed a deal to pick up 413,000 (!) Marcellus/Utica acres, most of it in West Virginia with some of it in Washington County, PA. Much of the land is in prime wet gas areas (see the map below). The deal includes 256 (!) operating and producing Marcellus and Utica Shale wells and another 179 (!) non-operated, non-producing wells–a total of 435 drilled wells. Southwestern is paying Chesapeake $5.375 BILLION for the deal–which will make Chesapeake’s real boss, corporate raider Carl Icahn, very happy…
With blue capes unfurled and their Spandex tights removed from deep in the back of the closet (and it’s not even Halloween for another three weeks), the