MDN Weekly Update – Mar 13, 2011
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.
Below you’ll find the “top 5” lists.
Happy reading,
Jim Willis, Editor
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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:
Those in Pennsylvania who oppose drilling in the Marcellus Shale have gotten a bit desperate. They’re unhappy with new Gov. Tom Corbett, especially since the budget he introduced earlier this week contains budget cuts to education and calls for a layoff of state workers in order to plug a massive multi-billion dollar shortfall, without also including a severance tax on Marcellus Shale drilling in the state. Pennsylvania, like New York, California, Wisconsin, Ohio and a number of other states is essentially bankrupt from years of overspending and one-time gimmicks and budget patches. The chickens have finally come home to roost and now state governments have to make some hard decisions. It is in that context that anti-drilling protestors got nasty and thug-like yesterday: