Marcellus & Utica Shale Story Links: Wed, Feb 27, 2013
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Cabot’s Drilling in Susquehanna County Moves Needle on U.S. Supplies
Another post from energy analyst Richard Zeits on the Seeking Alpha website—this time about the tremendous amount of natural gas Cabot Oil & Gas is mining in Susquehanna County, PA. Zeits says the gas Cabot is finding and selling “may be material to the U.S. supply.” You read that right. One “little” oil and gas driller’s efforts in rural Susquehanna County, PA may well end up influencing the entire U.S. energy picture.Full of charts and maps and oodles of great information, here’s a small portion of Zeits’ analysis, a prediction for how long Cabot will be drilling in Susquehanna County, and how many wells they’ll end up drilling there:
Read More “Cabot’s Drilling in Susquehanna County Moves Needle on U.S. Supplies”
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Energy Companies | Gastar Exploration | Industrywide Issues | Marshall County | NGLs | Pipelines | West Virginia
Gastar’s 2013 Marshall County Plan: Drill More, Wait on Pipelines
Gastar loves Marshall County, WV. Why? They not only find just natural gas when they drill in Marshall, they also find “wet gas” or natural gas liquids too. Gastar plans to drill another 19 new wells in Marshall this year.
However, there is a cloud with Gastar’s silver lining: Lack of pipelines will mean Gastar needs to slow their drilling later this year. Here’s a quick update on Gastar’s Marshall County plans for 2013:
Read More “Gastar’s 2013 Marshall County Plan: Drill More, Wait on Pipelines”
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Big News: AP Writes Story About How NY’s Delays Hurt Landowners
Wonders never cease. The Associated Press has actually written an article about the true costs of what “just a few more weeks of delay” in New York State really means to the state’s landowners—how it’s crushing them. The article looks at three struggling landowners—people who need New York to get off the dime and allow drilling to move forward. It begins this way:
Read More “Big News: AP Writes Story About How NY’s Delays Hurt Landowners”
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Maryland Push Poll Gets the Result it Was Designed to Get
A push poll (with loaded questions) commissioned by anti-fracking group Chesapeake Climate Action Network found (surprise!) 78% of Marylanders want to study fracking to death before they allow it in the state.
Does anyone really think this was a legitimate poll? Not when you see the question they asked…
Read More “Maryland Push Poll Gets the Result it Was Designed to Get”
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Chesapeake Earnings Call Highlights Utica Results in 2 OH Counties
In last week’s fourth quarter earnings call, Chesapeake Energy senior management once again singled out Columbiana and Carroll counties for special recognition and to express their ongoing commitment to the Ohio Utica Shale.
A few interesting highlights from that call:
Read More “Chesapeake Earnings Call Highlights Utica Results in 2 OH Counties”
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Aqua America | Energy Companies | Energy Services | Hydraulic Fracturing | Industrywide Issues | Penn Virginia Corporation | Pennsylvania | Statewide PA
PVR Water Services – Now Pumping 3M Gal of Water/Day for Drilling
Aqua America is one of the largest U.S.-based, publicly-traded water utilities with almost 3 million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana, Virginia, Florida and Georgia. They also have a joint venture with Penn Virginia Resource Partners called PVR Water Services which provides water to Marcellus drillers in Pennsylvania. So far business is good.
A short section of Aqua America’s annual financial and operations report updates us on PVR Water Services:
Read More “PVR Water Services – Now Pumping 3M Gal of Water/Day for Drilling”
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Stone Energy 2012: Profits Down but Revenue & Production Up
Stone Energy released fourth quarter and full year 2012 financials and an operations update yesterday. The company reported net income for 2012 totaled $149.4 million, or $3.03 per share, on revenue of $951.5 million compared with 2011 net income of $194.3 million, or $3.97 per share, on revenue of $869.9 million. CEO David Welch noted the company increased production and reserves for the third consecutive year. Welch said production and reserves are up mostly because of the Marcellus Shale.
Select portions of the Stone press release/update dealing with the Marcellus:
Read More “Stone Energy 2012: Profits Down but Revenue & Production Up”
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Eclipses Resources Lands Important New Team Member
MDN does not usually report on people moves (perhaps we should do it more often). However, we thought this one was noteworthy, so we’re bringing it to you. Oleg Tolmachev has just become Vice President of Drilling and Completions for Eclipse Resources. Eclipse is a driller in the Marcellus and Utica Shale. What makes this announcement noteworthy is that previously Mr. Tolmachev held a senior position with Chesapeake Energy in the Utica Shale, and before that with EnCana in the Barnett and Haynesville Shales. Eclipse has landed an important new team member as they continue to expand in the Marcellus and Utica.
Here’s the announcement from Eclipse:
Read More “Eclipses Resources Lands Important New Team Member”
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Marcellus & Utica Shale Story Links: Tue, Feb 26, 2013
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
Read More “Marcellus & Utica Shale Story Links: Tue, Feb 26, 2013”
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OH Budget Bill Hits Utica Drilling with $25K/Well Impact Fee
If you ever (logically) thought a piece of legislation that’s meant to be a budget would only deal with money issues, you would be wrong. Budget laws for decades have been used to slip in all sorts of non-money-related measures. This year’s Ohio budget is no different. Tucked away in the proposed budget law from Gov. John Kasich are a number of non-budget items that directly affect Utica Shale drilling in Ohio. The measures include a ban on using brine as a de-icer on public roads, moving from yearly to quarterly production reports, lease transfer 30-day notifications, a $25,000 impact fee on each well drilled (surprise!), and testing of shale cuttings for radioactivity. And you thought budgets were just boring numbers.Here’s the low-down on the non-budget items in the budget bill that will impact Utica drilling in a big way:
Read More “OH Budget Bill Hits Utica Drilling with $25K/Well Impact Fee”
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Anti-Drilling/Fossil Fuel | Energy Services | Industrywide Issues | Pennsylvania | Pike County | Pipelines | Tennessee Gas Pipeline
Praying for Dead Trees – The Nutty Gas Protesters of Pike County
Columnist Beth Brelje has penned a must-read editorial on the nutters in Pike County, PA protesting construction of the Tennessee Gas Pipeline’s 323 Line. Brelje says the protesters have scheduled a—get this—prayer vigil, to pray for the “fallen trees.” Yeah, Twilight Zone stuff.
Instead of praying over dead wood, Brelje says protesters might actually want to do something constructive with their time, like:
Read More “Praying for Dead Trees – The Nutty Gas Protesters of Pike County”
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Law Firm Publishes Handy Utica Highlights Report for 4Q12
Law firm Benesch Friedlander Coplan & Aronoff LLP (offices in Columbus and Cleveland) has just published a quarterly summary close-up on the Ohio Utica Shale for fourth quarter 2012. It’s full of interesting highlights and bits and bobs you’ve already read on MDN. However, the report pulls a lot of overview material together in an easy to scan format—and it’s just 12 pages (full report embedded below).
The report opens with what it considers the top issues and useful information. It then highlights some of the major industry moves, looks at the midstream and infrastructure projects, government regulation, and closes with training programs available to help those who want jobs in the gas and oil fields. A nice report—worth your time to review it.
Read More “Law Firm Publishes Handy Utica Highlights Report for 4Q12”
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Closer Look at Shale Bills Before WV Legislature
The West Virginia legislature only meets for 60 calendar days each year, so when they convene, a flurry of new bills are introduced. MDN recently told you this year legislators have already introduced some 60 bills dealing with energy issues in the state—22 of those bills were introduced by Delegate Mike Manypenny, D-Taylor (see New Rules/Laws for Shale Drilling Will Come to WV in 2013).
Not all of the bills will become law, but some will. Here’s a look at a few of the more serious contenders that stand a chance of getting enacted, and one (forced pooling) that hasn’t even been introduced—yet:
Read More “Closer Look at Shale Bills Before WV Legislature”
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Anti-Drilling/Fossil Fuel | Hydraulic Fracturing | Industrywide Issues | Mahoning County | Ohio | Regulation | Utica Shale
Youngstown, OH to Commit Utica Suicide with Vote to Ban Drilling
Is it right for a simple majority to strip away the hard-earned property of their neighbors with an up or down vote? The Founding Fathers called it mob rule, which is why the United States was founded as a democratic republic—not a straight democracy. They recognized that up or down votes that allow citizens to take away property (money, use of land, possessions) from fellow citizens is abhorrent and immoral, which is why they cooked up the ingenious document called the Constitution—full of checks and balances to prevent it from happening.
But alas, the Constitution has become nothing more than toilet paper in some places, like Youngstown, Ohio…
Read More “Youngstown, OH to Commit Utica Suicide with Vote to Ban Drilling”
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Atlas Resource Partners to Focus on Utica, Marcellus in 2013
Atlas Resource Partners plans to focus on just four shale plays in 2013. Two of them are the Utica and Marcellus.
Matthew Jones, COO of parent company Atlas Energy LP, said the following about the Utica and Marcellus during the company’s 4Q conference call on Feb. 22:
Read More “Atlas Resource Partners to Focus on Utica, Marcellus in 2013”
Another post from energy analyst Richard Zeits on the Seeking Alpha website—this time about the tremendous amount of natural gas Cabot Oil & Gas is mining in Susquehanna County, PA. Zeits says the gas Cabot is finding and selling “may be material to the U.S. supply.” You read that right. One “little” oil and gas driller’s efforts in rural Susquehanna County, PA may well end up influencing the entire U.S. energy picture.
If you ever (logically) thought a piece of legislation that’s meant to be a budget would only deal with money issues, you would be wrong. Budget laws for decades have been used to slip in all sorts of non-money-related measures. This year’s Ohio budget is no different. Tucked away in the proposed budget law from Gov. John Kasich are a number of non-budget items that directly affect Utica Shale drilling in Ohio. The measures include a ban on using brine as a de-icer on public roads, moving from yearly to quarterly production reports, lease transfer 30-day notifications, a $25,000 impact fee on each well drilled (surprise!), and testing of shale cuttings for radioactivity. And you thought budgets were just boring numbers.