Marcellus & Utica Shale Story Links: Fri, Nov 9, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Chesapeake Energy Gets New, Unsecured $2 Billion (!) Loan
Holy smokes. Yesterday Chesapeake Energy, one of largest drillers in both the Marcellus and Utica Shale region, took out an unsecured (unsecured!) 5-year loan from Bank of America, Goldman Sachs and Jefferies Finance. How much? Try $2 billion (with a “b”). The loan will be syndicated or sold off to a large group of investors. Chesapeake is using the loan to pay off other previous loans. The company continues to sell off parts of the company to pay off all the loans, including this new one.Here’s a quick statement issued by Chesapeake about the new loan:
Read More “Chesapeake Energy Gets New, Unsecured $2 Billion (!) Loan”
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Carroll County | Harrison County | Holmes County | Monroe County | Noble County | Ohio | Trumbull County
10 New Utica Shale Permits Issued Last Week in Ohio
Ten new Utica Shale wells were approved by the Ohio Dept. of Natural Resources (ODNR) for the week covering Oct. 28 through Nov. 3. Here’s a breakdown on where the permits were issued:
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Netherlands Research Co. Predicts Marcellus will Reach 7.7 Tcfe by 2020
Netherlands-based ASDReports.com has just released a new research study focusing on the Marcellus Shale titled, Marcellus Shale in the US, 2012 – Gas Shale Market Analysis and Forecasts to 2020. The company issued a press release (below) which hits some of the highlights from the study. Among the astonishing predictions: The Marcellus Shale will produce a “massive” (their words) 7,685 billion cubic feet equivalent of gas by 2020—or said another way, 7.7 trillion cubic feet equivalent. They predict the Marcellus will be producing 4,861 bcfe (4.9 tcfe) by 2015.
Here’s the press release announcing the study with a few juicy tidbits thrown in:
Read More “Netherlands Research Co. Predicts Marcellus will Reach 7.7 Tcfe by 2020”
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Access Midstream 3Q12: 65 New Marcellus Wells Connected
Access Midstream Partners, a pipeline, compressor station and processing plant (infrastructure) company with operations in the Marcellus Shale released their third quarter financial and operational update on Monday. They report a 26.9% increase in the amount of natural gas moving through their pipelines for 3Q12 compared with 3Q11 mostly from their Marcellus operations which they acquired in December 2011. Access hooked up 186 new wells to their gathering system pipelines during 3Q12 across all of the plays they service (65 in the Marcellus alone), an increase of 27.4% over the same period in 2011. In addition, 3Q12 income was plus $2 million. What’s not to like about a good midstream company?!
Here are relevant sections from the Access Midstream 3Q12 update:
Read More “Access Midstream 3Q12: 65 New Marcellus Wells Connected”
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Mansfield, OH Voters Approve “Environmental Bill of Rights”
The voters of Mansfield, Ohio voted to approve an “environmental bill of rights” in yesterday’s election. The new measure will now be part of the city’s charter, enabling the city to control the location and regulation of wastewater injection wells.
A year ago Preferred Fluids Management announced they would build two 5,000 foot deep injection wells in the Mansfield industrial park. Some area residents are opposed and the new measure passed yesterday will allow them to prevent the wells from being built. It’s a dead issue anyway because the permits to build the wells have expired. The question now is: Does the new “bill of rights” extend to other types of wells, and even other business activities, besides injection wells?
Read More “Mansfield, OH Voters Approve “Environmental Bill of Rights””
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Will New PA AG Go After the Marcellus Drilling Industry?
Will Kathleen Kane, newly elected Pennsylvania Attorney General, take aim at the Marcellus Shale drilling industry once she takes office in January? Depends on whom you ask…
Read More “Will New PA AG Go After the Marcellus Drilling Industry?”
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Shale Gas Innovation Contest is Back-This Yr (3) $25K Prizes
In October 2011, the Ben Franklin Shale Gas Innovation & Commercialization Center (SGICC) announced the first Shale Gas Innovation Competition. In May of this year they awarded two organizations from State College, PA as the winners, each receiving a $25,000 prize (see this MDN story).
The SGICC is back for round two and this time they are offering three $25,000 prizes. Here’s the low down:
Read More “Shale Gas Innovation Contest is Back-This Yr (3) $25K Prizes”
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3 Top Officials Rumored to be Leaving Obama Administration
Now that Obama will be sticking around for another four years, immediate speculation has begun on who will go and who will stay in his administration. Rumor has it that three top energy/environment officials may step down in the coming months. All three are in cabinet level positions:
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Reuters Predicts “Harsher Energy Regs” from Obama II
MDN took some abuse for our negative comments on the re-election of B.H. Obama (see this MDN article)—comments for which we make no apology. However, you may be interested to know one day after his re-election, none other than Reuters is predicting a rough road ahead for the domestic energy industry under Obama II. The article says, in so many words, the coal industry is screwed. And of course Obama will continue to flirt with so-called renewable energy. Elections have consequences folks.
Here’s what the article says about Obama’s “nuanced” approach on domestic oil and gas drilling:
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Marcellus & Utica Shale Story Links: Thu, Nov 8, 2012
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: Thu, Nov 8, 2012”
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Obama Wins – Americans Lose
We pause on this day after the re-election of Barack H. Obama to grieve the national suicide of the United States of America, because that’s what happened yesterday. MDN believes it’s hard to overstate how profoundly another four years of an Obama administration—and an out-of-control EPA—will negatively impact the U.S. energy industry. Look for more irrational hatred of fossil fuels, and the emboldening of radical leftists to try and end all drilling for natural gas and oil in this country. Look for more Solyndras and other failed so-called green tech companies (nothing more than political graft). Look for the miracle of hydraulic fracturing to be in the crosshairs of the Obama EPA. Look for the oil and gas industry to be compared to, denigrated and targeted like the tobacco industry. Frankly, it’s a nightmare we won’t wake up from.So “thank you” to the 50.5% of my fellow citizens who have created this national nightmare. You’ll so richly get what you deserve—the rapid erosion of your freedom, higher taxes, higher fuel prices, fewer choices, and despair. MDN will be here every step of the way to remind you of what you have done—that is, until the Obama censors finally rip up the First Amendment and shut us down.
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Hydraulic Fracturing | Industrywide Issues | Litigation | Pennsylvania | Statewide PA | Washington County
PA DEP Sec. Krancer Calls Rep. White a Liar re Water Testing
Last week MDN brought you the news that western PA House Rep. Jesse White and an attorney in a lawsuit against Range Resources accused the PA Dept. of Environmental Protection (DEP) of intentionally withholding well water test results that would show a link between shale gas drilling and contamination of well water (see this MDN story). The allegation was made after two DEP officials were deposed in the lawsuit. Their comments seemed to confirm that the DEP does not, in some cases, test or report certain results available to them. Such a request to “suppress” or not test uses a special code (SAC 942).
Yesterday, DEP Sec. Michael Krancer minced no words in responding to Rep. White (see his letter below). Sec. Krancer essentially said White is ignorant of the facts and a liar. Krancer couched his words it in politically correct language—but the sentiment is definitely there.
Read More “PA DEP Sec. Krancer Calls Rep. White a Liar re Water Testing”
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Antero Resources | Energy Companies | Energy Services | Harrison County | Industrywide Issues | MarkWest Energy | Noble County | Ohio | Pipelines | Processing Plants | Statewide OH
Antero Resources Inks Deal with MarkWest for Ohio Utica Shale
On Monday MDN told you about Antero Resources’ sale of their Piceance Basin assets so they can laser focus on the Marcellus and Utica Shale region (see this MDN story). A day later—yesterday—Antero followed up that big announcement with another big announcement: They’ve signed a deal with MarkWest for pipelines and processing in Noble and Harrison counties (Ohio) to give Antero’s operations in the Ohio Utica Shale a boost. Interestingly, the Harrison County project will yield ethane that MarkWest/Antero will send to the new ATEX ethane pipeline that runs all the way to the Gulf.
Terms of the deal between Antero and MarkWest were not disclosed. Here’s the joint press release announcing the particulars of the deal:
Read More “Antero Resources Inks Deal with MarkWest for Ohio Utica Shale”
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Energy Services | Industrywide Issues | MarkWest Energy | Processing Plants | West Virginia | Wetzel County
MarkWest Announces Third Mobley Processing Facility in WV
MarkWest Energy announced today they are expanding and building a new addition to their Mobley complex in Wetzel County, WV. The new Mobley III processing facility will add another 200 million cubic feet of wet gas processing. EQT is mentioned by name as one of the customers for this added new capacity. Both EQT and Magnum Hunter Resources are customers for the first Mobley facility which is due to come online this month. A second Mobley processing facility will be done and online in 1Q13, and the Mobley III announced today will be built and online sometime in 4Q13, about a year from now.
The MarkWest press release about the Mobley complex in WV:
Read More “MarkWest Announces Third Mobley Processing Facility in WV”
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Does Steuben County, NY Landfill Accept Drilling Wastewater?
The Steuben County landfill in Bath, NY was approved and ready to accept shale cuttings (leftover soil and rock from drilling) at the landfill in early August of this year (see this MDN story). They now are accepting some shale cuttings. Earlier this week a local environmental lawyer raised concerns at a meeting of the county Legislature’s Public Works Committee that the landfill may also be receiving flowback water—water that comes back up out of the bore hole after drilling—in the landfill along with shale cuttings. Flowback has high concentrations of minerals making it salty or “briny.”
County Public Works Commissioner Vince Spagnoletti said the landfill does not accept flowback direct from drillers. However, the landfill does accept some treated wastewater from another landfill. Here’s the details:
Read More “Does Steuben County, NY Landfill Accept Drilling Wastewater?”
Holy smokes. Yesterday Chesapeake Energy, one of largest drillers in both the Marcellus and Utica Shale region, took out an unsecured (unsecured!) 5-year loan from Bank of America, Goldman Sachs and Jefferies Finance. How much? Try $2 billion (with a “b”). The loan will be syndicated or sold off to a large group of investors. Chesapeake is using the loan to pay off other previous loans. The company continues to sell off parts of the company to pay off all the loans, including this new one.
We pause on this day after the re-election of Barack H. Obama to grieve the national suicide of the United States of America, because that’s what happened yesterday. MDN believes it’s hard to overstate how profoundly another four years of an Obama administration—and an out-of-control EPA—will negatively impact the U.S. energy industry. Look for more irrational hatred of fossil fuels, and the emboldening of radical leftists to try and end all drilling for natural gas and oil in this country. Look for more Solyndras and other failed so-called green tech companies (nothing more than political graft). Look for the miracle of hydraulic fracturing to be in the crosshairs of the Obama EPA. Look for the oil and gas industry to be compared to, denigrated and targeted like the tobacco industry. Frankly, it’s a nightmare we won’t wake up from.