Marcellus & Utica Shale Story Links: Fri, Nov 23, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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NY Gov. Cuomo Says Forget Fracking – At Least by Nov 29
New York Gov. Andrew Cuomo—someone who apparently has trouble deciding what to have for breakfast, let alone decide a major issue like whether or not to allow fracking—went on the record yesterday saying that the Nov. 29 deadline to release new drilling rules will not be met. Cuomo said the deadline for a new health review, yet another delay thought up by DEC Commissioner Joe Martens and being carried out by State Health Commissioner Nirav Shah, is “open-ended.” The so-called “impartial experts” Nirav Shah has hired to conduct an outside review are anything but impartial, and they’ve been given no firm deadline to turn in a report.Cuomo’s comments to reporters yesterday:
Read More “NY Gov. Cuomo Says Forget Fracking – At Least by Nov 29”
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JLCNY Sends Strongly-Worded Letter to Cuomo on Nov 29 Date
Many have marveled at the restraint shown by the Joint Landowners Coalition of New York (JLCNY) on the issue of repeated delays and setbacks when it comes to allowing high volume hydraulic fracturing (HVHF) in New York State. Some have criticized the JLCNY for not being more vocal and more pushy with the governor and the Dept. of Environmental Conservation. Dan Fitzsimmons, president of the JLCNY, regularly takes arrows from both sides of the drilling issue and he walks a fine line—we wouldn’t want to be in his shoes!
Dan sent a letter yesterday, on behalf of the the 77,000 members of the JLCNY, to Gov. Andrew Cuomo and DEC Commissioner Joe Martens expressing, in strong but respectful language, the JLCNY’s disappointment that the Nov. 29 date to release new drilling rules will be missed (a full copy of the letter is embedded below).
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Chesapeake Energy | Economic Impact | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Ohio | Research | Statewide OH | Utica Shale
EIA Report: Rig Count in Utica Shale Doubles in One Year
Yesterday the U.S. Energy Information Administration (EIA) provided a detailed update on shale drilling activity in the Utica Shale. They found that the number of drilling rigs in the Utica has doubled from October of last year to October of this year. Also of keen interest: 86% of the active rigs in the Utica (now) are targeting shale oil. Last October the number of 15% of active rigs—which shows a remarkable shift in the Utica. Although the report says “shale oil,” MDN takes that to mean “wet gas,” or shale oil and natural gas liquids. The report finds that Chesapeake Energy continues to be the Big Kahuna in the Utica Shale with 39% of all new well starts in Ohio year-to-date.
Here’s the full EIA Utica Shale update posted yesterday (along with some great charts):
Read More “EIA Report: Rig Count in Utica Shale Doubles in One Year”
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Carroll County | Chesapeake Energy | Columbiana County | Economic Impact | Energy Companies | Harrison County | Industrywide Issues | Lease & Royalty Payments | Ohio | Statewide OH | Utica Shale
Chesapeake Says 3 OH Counties are “Core of the Core” in Utica
On the third quarter earnings call with analysts earlier this month, Chesapeake Energy officials were asked about the Utica Shale and their thoughts, now more than a year in, of how the Utica stacks up against the Eagle Ford, and how Chesapeake’s “core of the core” strategy is working in the Utica. Chesapeake CEO Aubrey McClendon answered the question this way, identifying the three counties in Ohio that are “the core of the core” for the company:
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Carl Ichan Ups Stake in Chesapeake Energy
Corporate raider Carl Icahn (euphemistically renamed an “activist investor” by mainstream media who now like his targets) has increased his holdings in Chesapeake Energy. He remains the number two shareholder in the company.
As reported by the Pittsburgh Business Times (quoting CNBC):
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Stallion Oilfield Holdings Seeks Half Billion Dollar Loan
Psst, hey buddy, you got an extra half billion dollars you can spare? Stallion Oilfield Holdings, Inc., a privately-held oilfield services company that works in most of the major shale plays in the U.S., including the Marcellus and Utica Shale, issued a press release yesterday looking for one or more investors that will loan the company (yes) a half a billion dollars so they can a) retire older debts, and b) fund dividend payments to stockholders.
Here’s the release:
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Cambria County | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Seneca Resources
Seneca Resources Gives Johnstown TV Station an Eye & Earful
Recently Seneca Resources, a company that will turn 100 years old in March, gave Johnstown, PA WJAC-TV News a tour of what happens at a drill site. During the tour, WJAC got the real story of what goes on “behind the scenes” at a drilling company. They also got the real story about fracking. Refreshingly, WJAC reported it accurately!
Here’s what Seneca told WJAC:
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Anti-Drilling/Fossil Fuel | Hydraulic Fracturing | Industrywide Issues | Rockingham County | Virginia
Bergton, VA to Carrizo: We Still Don’t Want You Drilling Here
Anti-drillers in Bergton, Virginia are like the anti-drillers everywhere else. Every now and again they need to shout out “the sky is falling!” like Chicken Little. Such was the case last night in Bergton (Rockingham County), where anti-drillers gathered to scare the local folks about “big, bad drilling” that “may come” someday to their area.
Carrizo Oil & Gas had wanted to drill in Bergton but was told to take a hike (see this MDN story). Last night, about 25 anti-drillers gathered at the Bergton Community Center to hear the results of a water testing program meant to provide baseline data “just in case” the evil, nasty drillers eventually do come calling. The testing program is being run by two local college professors and four of their students. Also on the evening’s program was plenty of misinformation about fracking.
Read More “Bergton, VA to Carrizo: We Still Don’t Want You Drilling Here”
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Marcellus & Utica Shale Story Links: Wed, Nov 21, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Univ at Buffalo President Shuts Down (Censors) Shale Institute
The ignorant mob have won. A group of 83 anti-drilling, enviro-left faculty and staff at the University at Buffalo (UB), with the help of left-leaning mainstream media, have brought enough pressure to bear that UB’s president announced yesterday he is immediately shutting down the seven-month old UB Shale Resources and Society Institute. It’s a sad day for academic freedom and free speech. The inmates now run the asylum at UB.UB President Satish Tripathi has proven that after a year and a half at the helm, he is not equal to the task of running a large university. Here is his “I’ve caved” announcement from yesterday, sprinkled with MDN’s snarky comments and observations:
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IOGA of NY to Gov. Cuomo: Enough is Enough
Brad Gill, Executive Director of the Independent Oil & Gas Association of New York (IOGA of NY) sent a scalding letter yesterday to NY Gov. Andrew Cuomo (see a full copy below) expressing deep disappointment that it now appears new drilling rules will not be released by Nov. 29. He points out, as of yesterday, it’s been 4 years, 3 months and 27 days since the moratorium went into effect. In essence, “Enough is enough.” He told Andy, “our trust in our state government [is] now exhausted.” Gill concludes by urging the governor to release the new rules—now—so the industry can attempt to recover from the staggering losses already endured because of the moratorium.
MDN’s view: Don’t count on it Brad—Andy is just another garden-variety, prevaricating politician who is decision-challenged. If the new rules are not released by Nov. 29, the rulemaking process begins all over again and more public hearings (i.e., freak shows) will need to be held—delaying the new rules by months, perhaps years. Which of course has been the game plan by DEC Commissioner Joe Martens all along.
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Broome County | Chesapeake Energy | Energy Companies | Industrywide Issues | Inflection Energy | Litigation | New York | Statewide NY | Tioga County (NY)
More on the NY Force Majeure Ruling Against Chesapeake
MDN headlined a story yesterday about last week’s decision by a federal judge that went in favor of landowners and against Chesapeake Energy and Inflection Energy. The case found that Chesapeake and Inflection could not use the legal clause in their signed leases called “force majeure” to extend previously signed leases beyond the original 10-year term (see this MDN story for background).
One of the lead attorneys who brought the case on behalf of New York landowners is Scott Kurkoski, from the Vestal, NY law firm Levene, Gouldin & Thompson, LLP. Scott sent along a statement (below) along with a copy of the judge’s decision (also below).
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WV Considers ‘Future Fund’ to Stash Away Oil & Gas Revenue
A USA Today article from yesterday takes a new swipe at the theme “Alaska and other states tax oil and gas and create a rainy day fund, so West Virginia, Pennsylvania and other states should do it too.” Should they? Pro-drillers will have differing opinions. What is interesting to MDN about the story, aside from the list of states that currently tax oil and gas (and what they do with it), is what West Virginia is considering, and the “let’s face reality, fracking is here to stay” comments attributed to a liberal group in the state.
The bits from the article relevant to the Marcellus and Utica Shale:
Read More “WV Considers ‘Future Fund’ to Stash Away Oil & Gas Revenue”
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Anti-Drillers in Ohio Learn to Break the Law at Special Camp
Some 40 anti-fracking “activists” learned how to break the law at a recent “action camp” held in Athens County, Ohio. In addition to sessions on how to spin a good tale for the media, attendees learned about “civil disobedience” and “direct action, blockading injection wells” and the like. That is, they learned how to illegally shut down legitimate, legal business activity.
And attendees didn’t waste any time either. Less than 24 hours later they protested at a nearby injection well. According to their own leaders, protesting injection wells is just the beginning. Their real aim? To illegally shut down fracking.
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Maryland Wants Pollution Insurance – Even with No Drilling
Even though the State of Maryland does not have enough money—and no prospects of finding it—to fund a $2 million mandated study of hydraulic fracturing (see this MDN story), and even though fracking won’t be allowed in Maryland until 2014 at the earliest, it doesn’t stop Maryland lawmakers from proposing onerous laws on the drilling industry “just in case” one day there is fracking in the state.
The latest shining example of how Maryland is the single most dysfunctional state when it comes to shale gas drilling: A proposed new law would take effect July 1, 2013 (even though fracking won’t be allowed until 2014) that will slap a requirement on drillers to have $5 million of “pollution insurance” per loss. The proposed law also requires drillers to post a $50,000 bond for each well they drill:
Read More “Maryland Wants Pollution Insurance – Even with No Drilling”
New York Gov. Andrew Cuomo—someone who apparently has trouble deciding what to have for breakfast, let alone decide a major issue like whether or not to allow fracking—went on the record yesterday saying that the Nov. 29 deadline to release new drilling rules will not be met. Cuomo said the deadline for a new health review, yet another delay thought up by DEC Commissioner Joe Martens and being carried out by State Health Commissioner Nirav Shah, is “open-ended.” The so-called “impartial experts” Nirav Shah has hired to conduct an outside review are anything but impartial, and they’ve been given no firm deadline to turn in a report.
The ignorant mob have won. A group of 83 anti-drilling, enviro-left faculty and staff at the University at Buffalo (UB), with the help of left-leaning mainstream media, have brought enough pressure to bear that UB’s president announced yesterday he is immediately shutting down the seven-month old UB Shale Resources and Society Institute. It’s a sad day for academic freedom and free speech. The inmates now run the asylum at UB.