Will Marcellus Shale Drilling Come to a “Grinding Halt” in West Virginia?
MDN is not sure how much sway the editorial pages of local newspapers hold when it comes to policy-making in state government (we suspect not much). But it is noteworthy that the Register-Herald (Beckley, West Virginia) is urging a moratorium on any new Marcellus Shale drilling in the state until the legislature can reconvene in special session and pass laws addressing concerns over Marcellus drilling in the state.
The WV legislature recently ended their regular session without passing new regulations for Marcellus drilling, which prompted acting Gov. Earl Ray Tomblin to instruct the state DEP to regulate drilling on their own (see here). The Register-Herald doesn’t like that idea and wants to see the legislature take another crack at passing new laws:
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Coming tomorrow: A new special report exclusively from MDN titled: Will There Be Marcellus Shale Drilling Near Me? Subtitled, Drilling Permits for Marcellus Shale Gas Wells from January 2010 to February 2011. This new report, created by MDN, shows how many permits have been applied for or issued by county and in most cases by local municipality for New York, Ohio, Pennsylvania and West Virginia. The report not only details the number of well permits, but also lists the numbers by drilling company. Leases are being signed in many locations—landmen are on the move. Although signing a lease can yield a good source of income now, the real money is when an energy company drills on or near your property. You need a permit in order to drill, so permits are a good barometer of the intentions of drilling companies. If you’re a landowner, you can use this special report to see who’s “serious” about drilling near you. If you’ve already signed a lease, use this report to see if drilling may be coming in your area in the near future. Many other interested parties will use this report as well, to see when and if drilling is happening in their communities (local business owners, government officials, residents concerned about traffic, etc.). Note: A slight delay in the release of this special report—apologies! But we think you’ll like the end result. Visit MDN on Monday to find out how to get your copy.
Happy reading,
Good question, and one that Brandon Otis, a CPA and valuations specialist with Alpern Rosenthal, an accounting advisory firm, addressed at a recent meeting in Pittsburgh. Otis has done research on 384 Marcellus wells in Susquehanna County, PA and has come up with a list of criteria for determining value. Among the criteria he uses: