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Marcellus Drilling News
  • Energy Companies | Stone Energy

    Stone Energy 2016 Budget Released – Will They Drill in the NE?

    December 22, 2015December 22, 2015

    Stone Energy, an independent oil and natural gas exploration and production company (E&P) headquartered in Lafayette, Louisiana drills mainly in the Gulf of Mexico but also has a presence in the Marcellus/Utica Shale. Earlier this year they stopped drilling in the northeast and shut in most of their Marcellus/Utica production (see Stone Energy 3Q15: Shut Down 110 Mmcfe/d of Marcellus Production). Stone has just released their 2016 capital expenditure budget. Are they planning to drill in the northeast in 2016?…
    Read More “Stone Energy 2016 Budget Released – Will They Drill in the NE?”

  • Energy Companies | EXCO Resources

    EXCO Resources Director Buys Another 630K Shares of Stock

    December 22, 2015December 22, 2015

    As we have previously reported, EXCO Resources board of directors member John Wilder is contractually obligated to buy $40 million worth of EXCO stock within a year of closing a deal between Wilder’s company (Bluescape Resources) and EXCO. Bluescape essentially runs EXCO. Wilder has been a busy beaver (see EXCO Resources Director Continues Stock Buying Spree). He’s just done it again. Last week Wilder purchased another 629,581 shares of EXCO Resources stock worth $579,214.52. He (and his company Bluescape) now own 14,745,961 shares of EXCO stock…
    Read More “EXCO Resources Director Buys Another 630K Shares of Stock”

  • Best of the Rest

    Marcellus & Utica Shale Story Links: Tue, Dec 22, 2015

    December 22, 2015December 22, 2015

    The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading. In today’s lineup: Terra Nova dumps EQT Midstream stock; PA landowners happy about AG’s Chessy royalty lawsuit; fracking didn’t contaminate Pavillion, WY water well; EJF Capital dumps Carrizo stock; still plenty of cash for drillers; natural gas woes; natgas exports; weather forecast & natgas price; crude oil ban lifted; UK goes on shale lease spree; and more!
    Read More “Marcellus & Utica Shale Story Links: Tue, Dec 22, 2015”

  • Industrywide Issues | Pennsylvania | Regulation | Statewide PA | Taxation

    $30M in PA Act 13 Money Missing – Theft or Bureaucratic Cock-up?

    December 21, 2015December 21, 2015

    poofNearly $30 million of Act 13 shale tax money that comes from an impact fee (i.e. tax) on Marcellus drilling in Pennsylvania is “unaccounted for.” The media is playing this up as “the money has gone missing” with the implication something nefarious is going on. The truth is a little more mundane. Some local municipalities receiving the money are confused as to which forms they have to file, and which agencies they need to file the forms with. It appears to be a bureaucratic cock-up–not theft, as implied by some in the media…
    Read More “$30M in PA Act 13 Money Missing – Theft or Bureaucratic Cock-up?”

  • Energy Companies | Gastar Exploration | Lease & Royalty Payments | Marshall County | Statewide WV | West Virginia | Wetzel County

    Gastar Deal to Lease Under the Ohio River in WV Falls Apart

    December 21, 2015December 21, 2015

    Remember the brouhaha over energy companies bidding to drill on land underneath the Ohio River in West Virginia? We told you about one such lease–Gastar won a bid on a 232-acre tract underlying the river at the border of Marshall and Wetzel counties. They paid $3,500 per acre as a signing bonus and 20% royalties in their winning bid (see Gastar Wins Lease to Drill Under Ohio River in WV). There were just a few minor details to settle before the deal closed. Guess what? Gastar never closed the deal. Since October 2014 the price of natural gas has crashed, making it uneconomical to drill in many (most?) locations, and Gastar didn’t want to part with its precious capital–so no deal was never finalized. And now the West Virginia Division of Natural Resources is about to call the deal dead and shop it again. Problem is, it’s now a buyer’s market for leases, not a seller’s market as it was in October 2014. WV won’t get anywhere near the same terms this time around, of that we’re sure…
    Read More “Gastar Deal to Lease Under the Ohio River in WV Falls Apart”

  • Anti-Drilling/Fossil Fuel | Crime | Electrical Generation | Industrywide Issues | New York | Orange County

    Actor James Cromwell Arrested Protesting NY Power Plant Site

    December 21, 2015December 21, 2015
    James Cromwell as Zefram Cochrane
    James Cromwell as Zefram Cochrane

    Hollywood actor James Cromwell was born in Manhattan (NYC) and maintains a summer home in upstate–in Orange County, NY. Cromwell played Zefram Cochrane (mythical creator of the warp engine) in the 1996 movie Star Trek: First Contact (one of our favs). It was distressing to learn that Cromwell is the latest Hollywood know-nothing to oppose natural gas. Cromwell opposes a clean-burning natural gas-fired electric plant being built near his summer home in Orange County, because, well, because it’s being built near his summer home (see Star Trek Actor with Upstate NY Home Speaks Against Power Plant). In September Cromwell and other area anti-fossil fuelers sued to stop the Competitive Power Ventures $900 million project–perhaps they prefer dilithium crystals to natgas? The frivolous lawsuit was tossed out (see Orange County, NY Marcellus-Fired Electric Plant OK’d by Judge). Well, what’s a spoiled rich kid from Manhattan who wants to keep upstate pristine as his own private playground going to do? Get a bunch of easily-impressed neighbors to stage a sit-in and illegally block construction at the site. That’s what Cromwell and some of his homies did last Friday–they got arrested and carted away to the klink…
    Read More “Actor James Cromwell Arrested Protesting NY Power Plant Site”

  • Ethane | Industrywide Issues | Pipelines | Processing Plants | Statewide WV | West Virginia

    IOGAWV Rep Says Marcellus/Utica Can Support “8 or 9 Crackers”

    December 21, 2015December 21, 2015

    The president and CEO of Eagle Manufacturing in Wellsburg, WV is Joe Eddy. During a recent meeting in Oglebay Park, Eddy represnted the WV Indpendent Oil and Gas Association. He had some interesting things to say. Among them: the Marcellus/Utica region could right now support “eight or nine crackers.” He also spoke out against three ethane pipelines that transport northeast ethane to other regions…
    Read More “IOGAWV Rep Says Marcellus/Utica Can Support “8 or 9 Crackers””

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Research | Statewide PA

    Dela. Riverkeeper Attempts to Discredit PA DEP Shale Radiation Report

    December 21, 2015December 21, 2015

    Stay tuned for five feet of snow. No, it’s not a weather report, it’s the snow job THE Delaware Riverkeeper (i.e. Maya van Rossum) is attempting with respect to a research report issued by the Pennsylvania Dept. of Environmental Protection (DEP). In January 2015, the DEP filed a report following two years of intense study to determine whether/if/how much radiation exposure is an issue in shale drilling. While the DEP found there is sometimes some low levels of radiation, the report concluded there is “little harm” from radiation in shale drilling (for the study results, see PA DEP Completes Fracking Radiation Study, Concludes “Little Harm”). When real science is published that contradicts the political science of global warming advocates like Maya van Rossum, the real science must go. And so van Rossum hired a discredited scientist to produce a review of the January 2015 report by the DEP, calling it “inaccurate and incomplete.” Van Rossum dragged out Dr. Marvin Resnikoff, who was humiliatingly slapped down by none other than the U.S. Geological Survey in 2012 (see Radon Debate: USGS Responds to Marvin Resnikoff Accusation). Resnikoff is the scientist-for-hire van Rossum used in concocting the latest snow job coming from her outfit…
    Read More “Dela. Riverkeeper Attempts to Discredit PA DEP Shale Radiation Report”

  • Energy Services | Industrywide Issues | NEXUS Pipeline | Pipelines | Regulation | Spectra Energy

    Canada Approves Marc/Utica NEXUS Pipeline to Dawn Hub in Ontario

    December 21, 2015December 21, 2015

    Everybody always talks about the Henry Hub, which is the natural gas delivery point where more physical natural gas is bought and sold than any other single location in North America. However, do you know what the second largest physically traded gas hub in North America is? We just learned this interesting factoid ourselves. The #2 location for trading natural gas, after the Henry Hub, is the Dawn Hub in southwestern Ontario (Canada)–not far from the border of Michigan. The Dawn Hub is in the news because of the NEXUS Gas Transmission pipeline project. Last week the Ontario Energy Board approved applications from Union Gas Limited and Enbridge Gas Distribution to move gas along the NEXUS, once its built, to the Dawn Hub. In other words, Canada has just approved the Canadian portion of the NEXUS project. We’re glad Canada isn’t holding grudges against the U.S after the Obama Administration obtusely rejected the Keystone XL pipeline project, a Canadian pipeline coming through the U.S. Here’s the good news from Spectra Energy on Canada’s approval of NEXUS…
    Read More “Canada Approves Marc/Utica NEXUS Pipeline to Dawn Hub in Ontario”

  • Electrical Generation | Industrywide Issues | Luzerne County | Pennsylvania

    Moxie Marcellus-Powered Electric Plant Breaks Ground in NEPA

    December 21, 2015December 21, 2015

    Groundbreaking! Really great news from Salem Township in Luzerne County, PA. The Moxie Freedom Marcellus gas-powered electric plant broke ground last week. The $800 million, 1050-watt facility was approved by the PA Dept. of Environmental Protection in September (see Moxie’s NEPA Marcellus-Powered Electric Plant Gets DEP Approval). Just last month Gemma Power announced they were selected to build the plant for Moxie (see Gemma Power Gets Contract to Build Moxie Freedom Electric Plant). Here’s the good news that the first shovel hit the dirt last week…
    Read More “Moxie Marcellus-Powered Electric Plant Breaks Ground in NEPA”

  • Energy Services | Industrywide Issues | Litigation | Pennsylvania | Pipelines | Sunoco Logistics | Washington County

    Judge Rules Yes, Mariner East Pipe IS a Public Utility After All

    December 21, 2015December 21, 2015

    In June we told you that Sunoco Logistics Partners had sued two different families/landowners in Washington County, PA using eminent domain to complete a pipeline part of the Mariner East project (see Mariner East Invokes Eminent Domain Against 2 SWPA Landowners). As we said at the time, nobody wins when it comes to using eminent domain for pipelines. In the case of the Mariner East pipeline, the ongoing legal question/issue has been whether or not the pipeline qualifies as a public utility with the right to invoke eminent domain. Last week a Washington County judge ruled that yes, Mariner East is a public utility and that the state of Pennsylvania controls permitting for the pipeline, not the Federal Energy Regulatory Commission (FERC). The Washington County landowners who sued have lost their appeal of the eminent domain case against Sunoco, and the pipeline will now cut through their property…
    Read More “Judge Rules Yes, Mariner East Pipe IS a Public Utility After All”

  • Energy Services | Industrywide Issues | Ohio | Statewide OH | Supply Chain | Wood Group

    Scottish Company Buys OH Construction Co for Utica/Marcellus Work

    December 21, 2015December 21, 2015

    Wood Group, a $7 billion energy services company headquartered in Aberdeen, Scotland, announced this morning they are purchasing Kelchner Inc., a privately-owned construction firm. Kelchner is located in Ohio and concentrates on providing civil engineering and construction services for midstream and upstream companies in the Marcellus/Utica. Terms of the deal were not disclosed, but Kelchner generated sales of $93 million last year and Wood just got done buying a similar company along the Texas Gulf Coast by the name of Infinity Group for $150 million. So it wouldn’t surprise us if they paid a similar amount for Kelchner…
    Read More “Scottish Company Buys OH Construction Co for Utica/Marcellus Work”

  • Economic Impact | Industrywide Issues

    Moody’s: Fed Interest Rate Hike Hurts the Oil & Gas Industry

    December 21, 2015December 21, 2015

    Moody’s Investors Service, one of the biggest and most respected ratings services on the planet, issued a statement last week after the Federal Reserve voted to raise interest rates from zero to a quarter point (0.25%). Moody’s offered their opinion of how the interest rate increase will affect U.S. companies. Their conclusion? Companies with good credit quality will be able to absorb the higher interest rate no problem. But companies that are, shall we say, “credit challenged” will have a tougher time. Among those most credit challenged? Yep, the oil and gas sector…
    Read More “Moody’s: Fed Interest Rate Hike Hurts the Oil & Gas Industry”

  • About MDN | Calendar

    Calendar of Events for Dec 21 – Mar 20 (90 Days)

    December 21, 2015December 21, 2015

    Below are upcoming events for the next three months (90 days). To see the full list of future events, visit this page: //marcellusdrilling.com/calendar/.

    NOTE: To have an item included, please email it to: calendar@marcellusdrilling.com.
    Read More “Calendar of Events for Dec 21 – Mar 20 (90 Days)”

  • Best of the Rest

    Marcellus & Utica Shale Story Links: Mon, Dec 21, 2015

    December 21, 2015December 21, 2015

    The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading. In today’s lineup: Another bankruptcy in the oil patch; Cove Point Hail Mary; NY frack ban sentencing upstate to poverty; NY landowners demand Cuomo approve Constitution Pipeline; natgas pipeline in southern NJ makes progress; $30 crude leads to $6 natgas; is ETE in financial trouble?; shale gas drilling in UK close to reality; and more!
    Read More “Marcellus & Utica Shale Story Links: Mon, Dec 21, 2015”

  • Greene County (PA) | Industrywide Issues | Pennsylvania | Regulation | Research

    PA DEP Admits No Radiation in Ten Mile Creek, Closes Investigation

    December 18, 2015December 18, 2015

    rest of the storyHere’s a story most of the Democrat anti-drilling media won’t tell you–but we will. In 2014 Pennsylvania anti-drillers from a local chapter of the Izaak Walton League, a so-called conservation organization, attempted a smear job on the Marcellus Shale industry. They alleged that shale drillers were illegally dumping frack wastewater in an abandoned coal mine, the Clyde Mine, which sits near the Ten Mile Creek where the creek joins the Monongahela River. According to the smearmeisters, the illegally dumped wastewater was leaking out of the mine and into Ten Mile Creek (see Is Shale Wastewater Causing Radiation Spike in Ten Mile Creek?). They claimed testing they had done showed high levels of radioactivity that could not come from just acid mine drainage, that it is radioactivity typically seen in shale wastewater. Of course the allegations got a lot of media attention. The Pennsylvania Dept. of Environmental Protection (DEP) investigated and echoed their concerns with initial tests also showing high radioactivity. Except the testing done by the DEP, and the testing done by the Izaak Walton League, WAS THE WRONG TYPE OF TEST. They blew it. Researchers from West Virginia University came in and tested using the appropriate type of test and found no elevated radioactivity (see PA DEP Screws Up Water Test at Ten Mile Creek – Egg on Face). The DEP has just concluded six months of their own tests–the right type of tests–and guess what? They’ve also found there IS NO elevated radioactivity in Ten Mile Creek nor anywhere else in the area…
    Read More “PA DEP Admits No Radiation in Ten Mile Creek, Closes Investigation”

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