Marcellus & Utica Shale Story Links: Wed, May 23, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Energy Services | Industrywide Issues | Lycoming County | Pennsylvania | Pipelines | Processing Plants | PVR Midstream | PVR Partners
PVR Announces $380 Million Investment in NE PA Marcellus
Penn Virginia Resource Partners (PVR) is kicking up its commitment to the Marcellus Shale in northeastern PA a notch. Yesterday they announced they would invest $380 million on Marcellus Shale pipeline projects including a new extension to its natural gas pipeline in Lycoming County, PA. The announcement also reveals that they have commitments from Shell, Southwestern, Range and Inflection for the extra capacity and services. Yesterday PVR completed a previously announced deal to acquire Chief Gathering.From the PVR press release:
Read More “PVR Announces $380 Million Investment in NE PA Marcellus”
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Why 4 Months to Approve WV Marcellus Permits?
West Virginia Department of Environmental Protection (WVDEP) Secretary Randy Huffman says it’s taking about four months on average to process a Marcellus Shale gas well permit in WV—which is about three months longer than it should be taking, according to Huffman. Why the delay? Four reasons:
Read More “Why 4 Months to Approve WV Marcellus Permits?”
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Union Support for Marcellus Drilling at PA Rally
The Marcellus Shale Coalition, a Pennsylvania-based industry group headed by Kathryn Klaber, held a rally at the Capitol in Harrisburg on Monday. Their aim was to dispel two popular myths about drilling in the Marcellus Shale: that the jobs are temporary, non-union jobs, and that the jobs all go to out-of-state workers from Texas and Oklahoma.
At the rally to support the Coalition were union members from the Laborers’ International Union of North America, who presented evidence that it’s local, union membership that often fills positions in the Marcellus workforce.
Read More “Union Support for Marcellus Drilling at PA Rally”
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NYC Comptroller Opposes 2 Chesapeake Board Members
New York City Comptroller John Liu wrote a letter to Chesapeake Energy shareholders encouraging them to vote “no” on the re-election of two members to the board of directors. Why does it matter what the New York City Comptroller thinks? Because New York City owns 1.9 million shares of Chesapeake stock—not an insignificant amount.
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G8 Ministers Give Fracking the Thumbs Up
Looks like the G8 members—countries that belong to “the group of eight” of the largest economies in the world (the United Kingdom, France, Russia, Germany, the United States, Japan, Italy and Canada)—think fracking is a good idea. So says the official communiqué issued by the ministers that met last weekend at Camp David.
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Chesapeake Energy | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Ohio | Stark County
Louisville, OH to Sell Chesapeake Water for Fracking
The Louisville City Council (Stark County, OH) passed an agreement yesterday to sell both potable and treated sewage water to Chesapeake Energy for their use in fracking Utica Shale wells. The water purchase agreement runs through 2017.
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Injecting Some Realism in the Shale Gas Debate
Writing in the Financial Post, Vaclav Smil, a fellow of the Royal Society of Canada and until 2011 a Distinguished Professor in the Faculty of Environment at the University of Manitoba gives some sage advice on the wild claims on both sides of the shale gas drilling isle:
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Marcellus & Utica Shale Story Links: Tue, May 22, 2012
The “best of the rest” – stories that caught MDN’s eye that you may be interested in reading:
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Chesapeake Sells More of its Utica Leases to Total
Last week Chesapeake transferred 90 percent ownership of their 9,000 Utica Shale leases in Columbiana County, Ohio to their French partner Total in return for $2.03 billion. Back in December Chesapeake did an initial deal with Total for a 25 percent ownership stake in Chesapeake’s Ohio Utica Shale leases for 10 Ohio counties. This latest deal does not grant Total 90 percent in all 10 counties, so the question is, why Columbiana in particular? In two words: headache relief.Read More “Chesapeake Sells More of its Utica Leases to Total”
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Chesapeake Reduces Board Compensation, Nips Private Jets
Chesapeake Energy is still battling a tidal wave of negative press in a bid to prop up the stock price and prevent a “significant liquidity event” (i.e., being forced to sell the company). Their latest move is to reduce reduce the pay of board members and take away their private airplane rights. Still, board members get $350K per year, even after the 20 percent reduction.
From the Chesapeake press release:
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NY Towns Pass Resolution They WON’T Ban Fracking
Tired of New York municipalities passing ill-advised bans on fracking, and hoping to increase the chances that landowners will be “first in line” for permits when they are finally issued, a group of landowners in New York have launched a campaign to get municipalities to pass a non-binding resolution that they will not enact a ban on fracking—and it’s working.
Read More “NY Towns Pass Resolution They WON’T Ban Fracking”
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Muskingum Watershed District Signs New Deal for Utica Drilling
The Muskingum Watershed Conservancy District has just signed a deal with Sierra Buckeye of Houston to allow Utica Shale drilling on 185 acres of District-controlled land—and it got some VERY favorable terms for the deal.
Read More “Muskingum Watershed District Signs New Deal for Utica Drilling”
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Dominion Energy | Energy Services | Industrywide Issues | Jobs | Marshall County | Processing Plants | West Virginia
High Paying Jobs Come to Marshall County, WV Processing Plant
Some high paying jobs are on the way to Marshall County, WV courtesy of a new natural gas processing plant being built by Dominion and opening in December. What’s good paying? How does $30 per hour sound?
Read More “High Paying Jobs Come to Marshall County, WV Processing Plant”
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PVR Deal to Buy Chief Gathering for $1B Closes
First announced back in early April, Penn Virginia Resource Partners (PVR) deal to buy Chief Gathering for $1 billion has officially closed on Friday. The deal creates a very large presence in the Marcellus Shale midstream space for PVR.
From the PVR press release:
Read More “PVR Deal to Buy Chief Gathering for $1B Closes”
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Marcellus & Utica Shale Story Links: Mon, May 21, 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: Mon, May 21, 2012”
Penn Virginia Resource Partners (PVR) is kicking up its commitment to the Marcellus Shale in northeastern PA a notch. Yesterday they announced they would invest $380 million on Marcellus Shale pipeline projects including a new extension to its natural gas pipeline in Lycoming County, PA. The announcement also reveals that they have commitments from Shell, Southwestern, Range and Inflection for the extra capacity and services. Yesterday PVR completed a previously announced deal to acquire Chief Gathering.
Last week Chesapeake transferred 90 percent ownership of their 9,000 Utica Shale leases in Columbiana County, Ohio to their French partner Total in return for $2.03 billion. Back in December Chesapeake did an initial deal with Total for a 25 percent ownership stake in Chesapeake’s Ohio Utica Shale leases for 10 Ohio counties. This latest deal does not grant Total 90 percent in all 10 counties, so the question is, why Columbiana in particular? In two words: headache relief.