U.S. Driller Sitting on Big Canadian Utica Shale Reserve
The Utica Shale underlies part of the Canadian province of Quebec. But development of the Utica is currently on hold while a government panel studies and reviews the miracle of hydraulic fracturing, just to be sure it’s safe.
In the meantime, drillers like Lone Pine Resources, with leased acreage in Quebec’s Utica Shale, wait. While they’re waiting, they’ve sized up the potential reserves they own in the Utica, and for Lone Pine, it’s big.
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Well well. Jon Campbell from the Gannett News Service wrote an article yesterday about New York Dept. of Environmental Conservation Commissioner Joe Martens. It has a surprising revelation in it.
The Obama Justice Department didn’t waste any time going after Chesapeake Energy after Reuters reported in late June that Chesapeake may have colluded with a competitor, Encana, to keep land lease prices low in Michigan. Just four days after the story broke, the Justice Department served Chesapeake with a subpoena for documents.