Marcellus & Utica Shale Story Links: Thu, Sep 13, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Utica Shale Permits/Drilling Update for Ohio – August 2012
The Ohio Dept. of Natural Resources (ODNR) releases updates on Utica Shale permits and drilling each week. The numbers for August permits, along with cumulative totals for all permits issued and wells fracked and drilled, is shown in the handy table below. What do the latest numbers say? Of the 21 counties where there either has been or is permitting and drilling, the hot spot is Carroll County. Last month Carroll County saw 25 new permits issued for Utica wells, all of them issued to Chesapeake Energy.Here’s a rundown on the latest numbers, telling you where, and how much, Utica Shale drilling is happening in Ohio:
Read More “Utica Shale Permits/Drilling Update for Ohio – August 2012”
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Chesapeake Energy | Chevron | Energy Companies | Energy Services | EnerVest | Global Infrastructure Partners | Shell | SWEPI
Chesapeake Sells Permian Basin, Midstream Assets for $6.9B
Although we’ve known for a while that the embattled Chesapeake Energy has been shopping some of it’s shale basin and other assets in order to pay down debt, they’ve made a huge announcement today. Chesapeake has sold most of its Permian Basin acreage along with “substantially all of its midstream” assets for $6.9 billion. The buyers for the Permian were Shell, Chevron and EnerVest. Most of Chesapeake’s remaining midstream assets were sold to Global Infrastructure Partners (GIP).
Chesapeake previously announced they would sell off assets in areas where they were not number one or two in an attempt to repay loans and concentrate their drilling in core areas. Two of the core areas where Chesapeake is sticking around are the Marcellus and Utica Shale.
From the Chesapeake Energy press release:
Read More “Chesapeake Sells Permian Basin, Midstream Assets for $6.9B”
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Antero Resources | Belmont County | Energy Companies | Lease & Royalty Payments | Ohio | Utica Shale
Barnesville, OH Signs Lease with Antero, Receives $6M
The Village of Barnesville, OH (Belmont County) just signed a lease with Antero Resources to allow shale drilling on 1,047 village-owned acres. The village now has an additional $6 million in revenue because of it.
Here’s the details about the deal, including the per-acre price and royalty percentage (some of the highest we’ve seen):
Read More “Barnesville, OH Signs Lease with Antero, Receives $6M”
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Waterless LPG Fracking Company GASFRAC Fires its CEO, COO
GASFRAC, a Canadian company with a patented fracking technology that uses liquefied petroleum gas (LPG) instead of water, announced a major shakeup yesterday. The company’s board of directors has tossed CEO Zeke Zeringue and COO Steve Batchelor overboard in a management shakeup.
From the GASFRAC press release:
Read More “Waterless LPG Fracking Company GASFRAC Fires its CEO, COO”
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Gale Force Petroleum Marcellus Update for 2 WV Counties
Gale Force Petroleum issued an operations update today about their Marcellus drilling activities in Wetzel and Marshall counties in West Virginia. Gale Force says the wells they’ve drilled, in wet gas areas, are producing in excess of 60 barrels of oil equivalent per day (BOEPD) of natural gas liquids in the Marcellus. They expect that number to grow.
Gale Force also says they’ve drilled 15 wells to date and have plans to drill another 50-100 wells on the 10,000 acres they’ve leased over the next three years. From the Gale Force press release:
Read More “Gale Force Petroleum Marcellus Update for 2 WV Counties”
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New Study to Measure Drilling Effects on Air Quality in WV
The Wheeling-Ohio County Health Department is working with West Virginia University researchers in a new study to measure possible effects of drilling on air pollution:
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EIA Short-Term Prediction for 2013: NatGas Avg $3.34 Mmbtu
Each month the U.S. Energy Information Administration (EIA) publishes a Short-Term Energy Outlook. EIA researchers crunch the numbers, analyze the trends, and haul out the EIA crystal ball to predict what will happen in the next 12 months.
Here’s the section where they talk about natural gas supply, demand and prices they expect over the next year:
Read More “EIA Short-Term Prediction for 2013: NatGas Avg $3.34 Mmbtu”
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Anti-Drilling Group Gets Binghamton Univ. to Sign Petition
An anti-drilling group in the Town of Vestal, NY (Broome County) continues to agitate and pressure the town board to enact a moratorium on non-existent fracking in the town. (New York still does not allow high-volume horizontal fracking, and by all accounts, won’t any time soon.)
The latest tactic by Vestal Residents for Safe Energy (VeRSE) is to dupe get 60 Binghamton University employees to sign a petition requesting a fracking moratorium. VeRSE plans to present the petition at tonight’s town board meeting.
Read More “Anti-Drilling Group Gets Binghamton Univ. to Sign Petition”
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Kanawha County’s First CNG Vehicle: $1.89/Gal. to Fill it Up
Earlier this week Kanawha County, WV got its first county vehicle converted to run on compressed natural gas (CNG)—a 2013 Chevrolet Tahoe. They filled it up for the gasoline equivalent of $1.89 a gallon (gasoline currently runs close to $4 per gallon).
It cost $12,000 to convert it to run on both CNG and gasoline, but the county figures by saving more than 50% on each fill-up, it won’t take long to make that money back.
Read More “Kanawha County’s First CNG Vehicle: $1.89/Gal. to Fill it Up”
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Sierra Club, Others Call for Moratorium on New Drilling in WV
Eleven so-called environmental groups, led by the nose by the Sierra Club, held a small anti-drilling protest rally yesterday at the West Virginia State Capitol where they demanded a moratorium on granting any new permits to drill in the Marcellus Shale. They handed Gov. Earl Ray Tomblin and legislators in town for meetings their list of demands.
The groups are anti-drilling and anti-fracking and want stricter rules for drilling than currently exist in WV, among them:
Read More “Sierra Club, Others Call for Moratorium on New Drilling in WV”
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Marcellus & Utica Shale Story Links: Tue, Sep 11, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Cuomo Says No Immediate Decision on Fracking in NY
Is fracking in New York now effectively dead for the foreseeable future? MDN is pro-drilling, you know that. And we live and work in New York, you know that too. And we have many landowner friends in New York. We love New York!But after comments made in a radio interview yesterday by Gov. Andrew Cuomo, MDN has to confess we’re concerned about the future of fracking in the state. Here’s how it went:
Read More “Cuomo Says No Immediate Decision on Fracking in NY”
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PA Impact Fee Raises More Revenue than Expected
The new Pennsylvania Act 13 drilling law is paying off. Yesterday the PA State Public Utility Commission (PUC), the agency charged will billing and receiving the “impact fee” provided for under the new law, reported how much money was billed, and how much was received. We have the detailed list by drilling company (embedded below).
The original estimate in the spring of this year when the law was passed, is that the first year would raise a total of $180 million in new revenue. The good news? More than $200 million was raised from the impact fee. The PUC billed drillers $205,890,000. So far they’ve paid $197,600,000. The difference is either cases where the driller disputes the PUC’s information about the status of a well, and a few cases of “the check is in the mail.”
Read More “PA Impact Fee Raises More Revenue than Expected”
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Carizzo’s Missing Impact Fee Payment – Scofflaw?
Yesterday the Pennsylvania State Public Utility Commission (PUC), the agency in charge of assessing and collecting the new Marcellus Shale Impact Fee, released the figures showing which drillers were assessed the fee, the number of both vertical and horizontal wells they drilled, and most importantly, how much they were assessed and how much they’ve paid (see this MDN story).
One particular company stands out among the list: Carizzo Oil & Gas. They stand out because the PUC says they’ve paid exactly $0 of the $3,060,000 they owe in impact fees. The The Harrisburg Patriot-News calls them a scofflaw and chronicles the back and forth they’ve had with both Carrizo and the PUC over the missing payment:
Read More “Carizzo’s Missing Impact Fee Payment – Scofflaw?”
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Southwestern Selects the Marcellus to Fuel Future Growth
More great analysis from Richard Zeits. Writing on the Seeking Alpha website, Zeits looks in-depth at Southwestern Energy and their plans for the Marcellus Shale. Southwestern’s CEO, Steven Mueller, spoke at length at an industry conference last week about his company’s plans for the rest of this year and next. Zeits took great notes and he re-creates much of that presentation.
Southwestern has a huge position in the Fayetteville Shale basin, so it may surprise some that the Marcellus, where Southwestern had zero production just a year and a half ago, is the horse they’ve selected to ride for future growth. Zeits’ analysis of Mueller’s presentation starts this way:
Read More “Southwestern Selects the Marcellus to Fuel Future Growth”
The Ohio Dept. of Natural Resources (ODNR) releases updates on Utica Shale permits and drilling each week. The numbers for August permits, along with cumulative totals for all permits issued and wells fracked and drilled, is shown in the handy table below. What do the latest numbers say? Of the 21 counties where there either has been or is permitting and drilling, the hot spot is Carroll County. Last month Carroll County saw 25 new permits issued for Utica wells, all of them issued to Chesapeake Energy.