GASFRAC 1Q12 Revenues/Profits Down 25% from 4Q11
GASFRAC Energy Services, the Canadian company who pioneered and holds a patent on waterless LPG (liquefied petroleum gas) fracking technology, reports that revenues and profits for the first quarter of 2012 were disappointing. GASFRAC, you may recall, will be the vendor of choice when/if the Tioga County Landowners Group, in New York State, starts drilling on their collective 135,000 acres (see this MDN story).
Read More “GASFRAC 1Q12 Revenues/Profits Down 25% from 4Q11”

An update on what could be a very important case for many landowners in Pennsylvania: On Tuesday, April 3, the PA Supreme Court agreed to hear a Susquehanna County case called Butler v Powers estate. The case concerns whether or not natural gas rights are a part of “mineral rights” in old leases where it’s not specifically spelled out. PA law precedent since 1882 known as the “Dunham rule” is that natural gas is not part of mineral rights unless specifically stated as such. If the Supreme Court overturns that precedent, it would threaten hundreds of drilling leases now in place throughout PA.
eCORP International and the Tioga County (NY) Landowners Group, also known as Southern Tier Energy Partners (STEP), released details of their new deal to lease 135,000 acres in Tioga County, NY with an eye to using LPG waterless fracking (press release below). It is an interesting deal—not at all typical of the usual leases between drillers and landowners. Perhaps it’s the way of the future in a low commodity gas price environment?