Marcellus & Utica Shale Story Links: Fri, Oct 3, 2014
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Sleazy: PA Dem Senators Use Unpublished “Study” to Smear Shale Drilling
A group of PA Democrat Senators are, once again, denigrating the miracle of Marcellus Shale drilling in their state. Only this time it’s even sleazier and lower than usual. This time they’re hinting that results from a so-called “study” not released to the public supposedly show that in two Marcellus Shale counties the average number of hospitalizations among the population has gone up versus a single, cherry-picked county with no Marcellus drilling. What is outrageous is that the senators leaked that tiny little bit of information at a hearing, but have not provided any of the details–nor have they provided the study itself. So our hall of shame goes to state Sen. John Yudichak, D-Plymouth Township, state Sen. Lisa Boscola, D-Bethlehem Township, and state Sen. John Wozniak, D-Johnstown who ran a Dem hearing yesterday to attack shale drilling. Also in the hall of shame is Trevor M. Penning, professor of pharmacology and director of University of Pennsylvania’s Center of Excellence in Environmental Toxicology for testifying (colluding) at that hearing providing only partial information. Penning was the Dem senators’ stooge in an attempt to bad mouth shale drilling. Also making a cameo appearance was PA’s anti-drilling Auditor General, Eugene DePasquale…
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Energy Companies | Industrywide Issues | Marshall County | Regulation | Statewide WV | Trans Energy | West Virginia
Court Adds Another $600K to $3M Fine for Trans Energy in WV Case
A month ago MDN told you about a steep fine Trans Energy, a West Virginia Marcellus driller, agreed to pay for screwing up 15 creeks and swamps with dirt they pushed around for drilling purposes (see Trans Energy Fined $3M for Polluting WV Creeks & Swaps with Dirt). The money will be split 50/50 between the federal EPA and the WV Dept. of Environmental Protection. Trans Energy was in U.S. District Court yesterday to plead guilty to three misdemeanor charges of negligently violating the Clean Water Act. That will tack on another $600,000 in criminal fines to the $3M already agreed too ($200K for each violation). Ouch. The number that really hurts, however, is that Trans Energy will spend more than $13 million to complete the restoration and mitigation work required by the consent decree they signed yesterday…
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Exxon “Shale is Worth the Risks” Report for Shareholders
For years now environmental activists/wackos have been “demanding” that companies like ExxonMobil and Chevron disclose the “risks” involved with shale drilling (see this 2011 MDN article: Exxon Mobil, Chevron Face Shareholder Questions about Environmental Impact of Hydraulic Fracturing at Annual Meetings). A number of left-leaning pressure groups continuously attempt to get big investors to dump their shares in fossil fuel companies, sometimes succeeding (see United Church of Christ Votes to Divest from Fossil Fuel Companies). The pressure has become intense. Earlier this year, the mafia-like New York State Comptroller, Thomas DiNapoli, who happens to be the sole person in charge of the enormous New York State Common Retirement Fund, brought his considerable pressure to bear. DiNapoli threatened to dump the fund’s $1.02 BILLION worth of Exxon Mobil stock unless the company writes up a report on the potential hazards of unconventional drilling (see Exxon Mobil Shaken Down by NYS Comptroller Thomas DiNapoli). Exxon complied and has just released their report (full copy below)…
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Energy Companies | Energy Services | Industrywide Issues | Litigation | MarkWest Energy | Pennsylvania | Pipelines | Range Resources Corp | Washington County
MarkWest Wins Court Case to Build Compressor Station in Cecil, PA
Cecil Township in Washington County, PA is one of the original seven selfish townships that sued and eventually had portions of the state’s Act 13 Marcellus drilling law overturned. The portion overturned restored to local municipalities the right to establish their own zoning regulations when it comes to oil and gas related activities. Apparently Cecil thought they had a blank check to deny anything they wanted, but a recent court decision has brought them back to reality. A Commonwealth Court judge has ruled Cecil must and will allow MarkWest to build a compressor station in an area clearly zoned for it under Cecil’s own rules–a station they’ve been trying to build since 2010…
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CONE Midstream’s IPO Takes in $423M, Market Cap Already $1.71B!
A little over a month ago CONSOL Energy and Noble Energy, two otherwise competitors that often cooperate on drilling programs in the northeast, together formed a new pipeline company called CONE Midstream (see CONSOL & Noble Energy Form New Marcellus Midstream Company). A couple of weeks ago CONSOL & Noble announced they would float an initial public offering (IPO) to sell stock in the new venture, hoping to raise $423 million (see CONSOL/Noble IPO for CONE Midstream Hopes to Raise $423M). Good news: Mission accomplished. Yesterday CONE issued a press release saying the IPO of 20.1 million shares for $22 per share has successfully closed…
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Baker Hughes Begins Full Disclosure of All Frack Fluids
In a welcome move, yesterday Baker Hughes announced they will now disclose all (100%) of the chemicals they use in their fracking fluids. Baker Hughes’ chief competitor in providing fracking services for drillers is Halliburton–so this move will pressure Halliburton to follow suit. Starting yesterday, October 1, Baker Hughes will not only publish a list of every chemical used on a given well to frack it (on the FracFocus.org website), they will also disclose the maximum concentration used for each chemical. It is total transparency into what they are using and where they are using it–removing any remaining claims by anti-drillers that the industry is trying to “hide” something…
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CNG/LNG | Dominion Energy | Energy Services | Exporting | Industrywide Issues | Maryland | Regulation | Statewide MD
Dominion Accepts FERC 79 Conditions for Cove Point < 24 Hrs
That didn’t take long. On Sept. 29 the Federal Energy Regulatory Commission (FERC) granted Dominion final approval to build an LNG export facility in Cove Point, MD (see Dominion Gets Final Fed Approval to Build Cove Point LNG Plant). Part of the approval includes a list of 79 “conditions” that must be met by Dominion in accepting FERC’s approval. Dominion said, on the 29th, that they would need to review FERC’s final order with the 79 conditions. It only took 24 hours. On Sept. 30 Dominion accepted all 79 conditions. As part of the press release announcing their acceptance, we also learn who will build the facility for Dominion…
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GWPC Report on State Efforts to Protect Ground Water from Drilling
An updated study from the Ground Water Protection Council (GWPC) shows that the 27 states with active oil and gas drilling, which represents 98% of all oil and gas drilling in this country, are doing a very good job and getting better year after year with protecting ground water supplies. Which is a direct slap in the face of big government and federal regulators who want to do more micromanaging of the states when it comes to oil and gas drilling. The GWPC believes oil and gas regulation happens best at the state level and the study finds, “State regulators place great emphasis on protecting water resources from adverse impacts that can occur during oil and natural gas exploration and production (E&P) activities.” Below is the press announcement releasing the new study, along with a copy of the 122-page study, titled “State Oil & Gas Regulations Designed to Protect Water Resources”…
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Magnum Hunter Sells More Non-Northeast Property for $23M
Magnum Hunter Resources, driller of the most-productive Utica Shale well ever (so far anyway), continues to divest in non-Utica/Marcellus plays so it can concentrate on northeast drilling. Yesterday the company deposited another $23 million from the sale of property they weren’t drilling on in North Dakota. That makes for $125 million in revenue from selling “non-core” assets this year, to date…
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Marcellus & Utica Shale Story Links: Thu, Oct 2, 2014
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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NY Law Back Door Way to Stop Widespread Shale Drilling?
Some days it’s just plain hard to live in New York State. We have so many stoners in our Assembly and Senate, so-called representatives (like Assemblywoman Donna Lupardo of Endicott) that force their will on the people rather than do the people’s bidding, it feels like New York is an outpost in North Korea or Putin’s Stalinist Russia instead of one of 50 free states in North America. Our latest reason for depression is a quick-get-it-passed-before-anyone-notices bill that all but ensures even if Andrew Cuomo approves shale drilling/fracking today, it will now be unlikely to produce any serious drilling programs. The misnamed and innocent-sounding “Community Risk and Resiliency Act” was signed into law by Cuomo last week. What’s that? Never heard of it? Neither had we. Here’s the gory details…
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Accidents | Antero Resources | Doddridge County | Energy Companies | Industrywide Issues | West Virginia
Antero Hits Producing Well Drilling New Well, Methane in Local Water
Antero Resources has been cited with a Notice of Violation (NOV) from the WV Dept. of Environmental Protection for breaching one of their own existing and producing shale wells when drilling another well on the same pad. The incident occurred at Antero’s five-well Primm Pad in Doddridge County, WV near West Union. While drilling a new well they poked a hole in an existing well and potentially in an abandoned well–meaning methane is now flowing to places it shouldn’t be flowing. The WVDEP has given Antero until today to get the situation under control. Unfortunately it looks like it may have affected (gulp) up to a dozen of the neighbors’ water wells with migrating methane…
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IHS Shale Supply Chain Study: 56 Sectors, 524K Jobs, Major Impact
Last week an important new shale supply chain study was released by top flight research firm IHS, or Information Handling Service, the publisher of choice for the American Petroleum Institute (API). The IHS study is titled “Supplying the Unconventional Revolution: Sizing the Unconventional Oil and Gas Supply Chain” (main report below). The supply chain is composed of all of those companies supplying goods and services to the shale industry that are not oil and gas producers. The report finds employment related to unconventional oil and gas production in shale supply chain companies totaled 524,000 jobs in 2012 and is expected to grow 45 percent to 757,000 jobs in 2025, equal to 41% of total direct and indirect employment in the shale industry. Conversely, the total number of jobs across the country directly attributable to the shale industry is 1.3 million. It’s not an overstatement that the shale revolution is the only thing that has kept the American economy out of the crapper over the past six years. Let’s dig in to this terrific report from IHS…
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Beck Energy | Belmont County | Energy Companies | Industrywide Issues | Lease & Royalty Payments | Litigation | Monroe County | Ohio | XTO
Major OH Court Victory for Beck Energy & XTO in Lease Case
A court case with big implications for all Ohio landowners–and drillers–was decided in March 2013. In Hupp v. Beck Energy Corp, three landowners filed suit claiming that their leases with Beck Energy Corp. were void and should be terminated because Beck never drilled wells on their property and that a provision allowing Beck to pay a nominal delay fee was against public policy. The court agreed and granted summary judgment (see OH Lawsuit Victory: 600-700 Landowners Can Terminate Beck, XTO Leases). Beck had sold the leases–in Monroe and Belmont counties–to XTO Energy, so XTO got involved in the lawsuit too. The court then granted class certification to the lawsuit brought by the three landowners–meaning between 600-700 landowners would also be able to invalidate their leases. A few weeks later both Beck and XTO filed an appeal (see XTO, Beck Energy Appeal OH Case Allowing Lease Termination). On appeal, this week the Seventh District Court of Appeals in Ohio overturned the lower court ruling and ruled in favor of Beck and XTO–a major victory for Ohio’s drillers and a major defeat for the landowners who say their land never got drilled and they wanted to re-sign with different company…
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PA Democrats Introduce 5% Severance Tax to Kill Shale Drilling
Voters in Pennsylvania stand on a precipice. If they elect a Democrat governor and restore Democrat control to the PA House and Senate, there is no doubt a severance tax will be enacted on shale drilling, *in addition to* the existing impact fee that has now collected over $630 million in three years. Such a tax would be an unmitigated disaster. It would almost completely stop shale drilling in Pennsylvania–and no, it’s not an empty threat or hyperbole to say so. It is reality. Need evidence? Last week PA’s Democrats introduced yet another bill that would implement a severance tax–HB 2508 (see it below). Fortunately the existing Act 13 has a provision that if a severance tax is ever enacted, the impact fee disappears. However, you can count on the Dems to repeal that part of the Act 13 law and double-dip on the drilling industry, thereby killing shale drilling in PA…
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A group of PA Democrat Senators are, once again, denigrating the miracle of Marcellus Shale drilling in their state. Only this time it’s even sleazier and lower than usual. This time they’re hinting that results from a so-called “study” not released to the public supposedly show that in two Marcellus Shale counties the average number of hospitalizations among the population has gone up versus a single, cherry-picked county with no Marcellus drilling. What is outrageous is that the senators leaked that tiny little bit of information at a hearing, but have not provided any of the details–nor have they provided the study itself. So our hall of shame goes to state Sen. John Yudichak, D-Plymouth Township, state Sen. Lisa Boscola, D-Bethlehem Township, and state Sen. John Wozniak, D-Johnstown who ran a Dem hearing yesterday to attack shale drilling. Also in the hall of shame is Trevor M. Penning, professor of pharmacology and director of University of Pennsylvania’s Center of Excellence in Environmental Toxicology for testifying (colluding) at that hearing providing only partial information. Penning was the Dem senators’ stooge in an attempt to bad mouth shale drilling. Also making a cameo appearance was PA’s anti-drilling Auditor General, Eugene DePasquale…
Some days it’s just plain hard to live in New York State. We have so many stoners in our Assembly and Senate, so-called representatives (like Assemblywoman Donna Lupardo of Endicott) that force their will on the people rather than do the people’s bidding, it feels like New York is an outpost in North Korea or Putin’s Stalinist Russia instead of one of 50 free states in North America. Our latest reason for depression is a quick-get-it-passed-before-anyone-notices bill that all but ensures even if Andrew Cuomo approves shale drilling/fracking today, it will now be unlikely to produce any serious drilling programs. The misnamed and innocent-sounding “Community Risk and Resiliency Act” was signed into law by Cuomo last week. What’s that? Never heard of it? Neither had we. Here’s the gory details…