Magnum Hunter’s Explanation for Lack of Production
Everyone seems to be providing an update on what’s happening with their drilling operations in the Marcellus—all at once! And it’s not even time for quarterly updates. The latest announcement is from Magnum Hunter Resources—a statement as to why they aren’t producing more (must be investors are asking questions). Magnum Hunter reports that storms knocked a lot of their production offline in July, and currently, lack of processing capacity at a Dominion Transmission facility is holding them back.
Here’s Magnum Hunter’s explanation for lack of production:
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It’s fascinating to MDN how a single so-called researcher at a single anti-drilling organization (funded by Teresa Heinz Kerry) can write a 124-page “report” that’s critical of the shale drilling industry and the hard-working people who regulate it, and the mainstream media (MSM) swoons and heralds such shameful propaganda as an important new “study” presenting the gospel truth. Yet that’s exactly what’s happening (once again) with a just-released report from Earthworks titled, “Breaking All the Rules: The Crisis in Oil & Gas Regulatory Enforcement” (copy embedded below).
Big news for landowners living in the Delaware River Basin area, especially for those in Wayne County, PA who want to see drilling in the Marcellus go forward: A federal judge has thrown out the lawsuit by New York Attorney General Eric T. Schneiderman that sought to force the Delaware River Basin Commission (DRBC) to conduct a “fuller assessment” of the potential impacts of shale gas drilling on New York City’s water supply before allowing any shale gas drilling in the basin.