Tuesday, December 2, 2008

Southwestern Energy activity


According to Southwestern Energy spokeswoman Elise Mitchell, the company has not flipped leases in the Marcellus Shale. She also said, "Southwestern Energy does utilize the services of various leasing companies to acquire leases, and we have been actively leasing in the Marcellus Shale region."

According to Mitchell, Southwestern Energy has 110,000 net acres in Pennsylvania for natural gas development.

She added, "The company has drilled its first four wells on its acreage in Bradford and Susquehanna Counties, of which two have been tested, one is waiting on completion and the other, the company’s first horizontal well, is expected to be completed in the fourth quarter 2008."

About the long-term potential of the Marcellus Shale, Mitchell said, the shale, "
has the potential to be a viable play across a significant geographical area generating economic benefits for all parties involved including the state and local governments, communities, landowners and the energy industry."




Hearings available online

Video coverage of a Nov. 18 Senate Majority Policy Committee public hearing on the opportunities and challenges of developing the Marcellus Shale are available at, www.senatorbaker.com.

Tuesday, November 18, 2008

Links to recent stories related to natural gas industry

http://www.scrantontimes.com/articles/2008/11/15/news/sc_times_trib.20081115.a.pg7.tt15wastewater_s1.2091720_loc.txt

http://www.scrantontimes.com/articles/2008/11/13/news/sc_times_trib.20081113.a.pg6.tt13susquehanna_s1.2086105_loc.txt

http://www.scrantontimes.com/articles/2008/11/10/news/sc_times_trib.20081110.a.pg1.tt10obama_s1.2077710_top2.txt

http://www.scrantontimes.com/articles/2008/11/08/editorial/sc_times_trib.20081108.a.pg12.tt08edit1_s1.2073546_edi.txt

http://www.scrantontimes.com/articles/2008/11/05/news/sc_times_trib.20081105.a.pg4.tt05state111_s1.2062381_loc.txt

http://www.scrantontimes.com/articles/2008/10/30/news/sc_times_trib.20081030.a.pg8.tt30gasrealestate_s1.2050255_loc.txt

http://www.citizensvoice.com/articles/2008/11/13/news/wb_voice.20081113.t.pg4.cv13cdcountybudget_s1.2086758_top3.txt

http://www.independentweekender.com/site/index.cfm?newsid=20183362&BRD=2279&PAG=461&dept_id=467076&rfi=8

http://www.thedailyreview.com/articles/2008/11/16/editorial/tw_review.20081116.a.pg4.tw16edit_s1.2093541_edi.txt

http://www.thedailyreview.com/articles/2008/11/14/news/tw_review.20081114.a.pg1.tw14pipeline_s1.2089961_loc.txt

http://www.thedailyreview.com/articles/2008/11/14/news/tw_review.20081114.a.pg1.tw14athens_s1.2090191_loc.txt

http://www.thedailyreview.com/articles/2008/11/13/news/doc491c6db11bc3f089894538.txt

http://www.thedailyreview.com/articles/2008/11/12/editorial/letters/tw_review.20081112.a.pg4.tw12letters_s1.2080081_let.txt

http://www.thedailyreview.com/articles/2008/11/07/news/doc4913c15f8a262861659241.txt

http://www.thedailyreview.com/articles/2008/11/05/news/tw_review.20081105.a.pg1.tw05yaw_s1.2065299_loc.txt

Lawsuit

According to Montrose attorney Michael Giangrieco, a ruling has not been made on lawsuit he filed on behalf of several landowners against Cabot Oil & Gas Corp.

The lawsuit is in the federal district court in Scranton. The landowners are attempting to have agreements they made with Cabot nullified.

The landowners are claiming the royalty clauses in the lease do not conform with state law.

Story link above in 'Link' box

Thursday, November 13, 2008

Chesapeake Energy venture


Chesapeake Energy is partnering with
StatoilHydro to develop the Marcellus Shale.
According to Chesapeake, StatoilHydro will acquire a 32.5% interest in Chesapeake's Marcellus Shale assets in Appalachia for $3.375 billion, leaving Chesapeake with a 67.5% working interest


About StatoilHydro :

StatoilHydro is a publicly traded company listed on the NYSE under the symbol, STO. The company has a 52-week trading range of, 15.51 - 43.31.

StatoilHydro has a market cap of 51.64B. In comparison, Chesapeake has a market cap of, 11.97 billion.


Formed in 1972, StatoilHydro is based in Stavanger, Norway.


StatoilHydro refines, markets, transports and develops petroleum and petroleum-derived products, including natural gas and oil. It has service stations in Scandinavia, Poland, the Baltic States of the former Soviet Union and Russia.

StatoilHydro homepage: http://www.statoilhydro.com/en/Pages/default.aspx




Friday, November 7, 2008

Natural gas workshop


Workshop information below:


THE GOVERNOR'S ADVISORY COUNCIL ON RURAL AFFAIRS
IMPORTANT MESSAGE
: PLEASE SHARE THIS INFORMATION WITH YOUR COLLEAGUES & FRIENDS


The Governor's Center for Local Government Services is pleased to announce that registrations are now open for a workshop on Natural Gas Drilling in the Marcellus Shale Region of PA. The workshop, which will focus on steps that local governments can take to prepare for the impacts of drilling in their region, will be held on November 18 in 11 sites throughout the state. Penn State University will provide a video downlink to a panel of experts on this topic. The brochure for this workshop is attached.

Please contact Kelly Lougee with any questions you have regarding the conference at klougee@psats.org or 717-763-0930.

Thursday, October 30, 2008

A committee, Cabot earnings



The Pennsylvania Oil and Gas Association and the Independent Oil and Gas Association of Pennsylvania have formed a joint Marcellus Shale Committee to represent the natural gas industry as it develops the Marcellus play.



Other Subject: Cabot Oil and Gas Corp. has reported its 3rd quarter earnings. A replay of a conference call that discussed the earning's report will be available through Saturday. The replay is accessible at, 800-642-1687 or, passcode 66519033.


At the end of the 3rd quarter, Cabot reported a net income of $67 million. Last year, the company reported a third-quarter net income of $35.5 million.

Cash flow from operations were at $148.3 million, compared with $86.8 million in last year's third quarter.
Discretionary cash flow totaled $161.0 million versus $121.7 million in last year's third quarter.


Below are excerpts from a press release issued by Cabot about its 2009 operations:


"We have always exercised significant discipline in our capital spending, regardless of general market conditions," said Dan O. Dinges, Chairman, President and Chief Executive Officer. "Over the last three years our investments have been around 120 percent of cash flow on average, working off an extremely low leverage ratio, and our 2008 organic effort will be consistent with our past discipline."


Marcellus Shale

Cabot's Marcellus play is focused in northeast Pennsylvania. During the second quarter call, the Company announced its first Marcellus production from a vertical well. Currently, Cabot has five producing wells (all vertical) with a combined average daily volume of 4-5 Mmcf per day. "Our goal was to be producing between 6-9 Mmcf per day by year-end. With the recent success of our wells, I now anticipate exceeding those early targets," commented Dinges.

The first horizontal well was completed with only three of six planned fracs. The well will be flowing to sales shortly. The Company plans to test the first three fracs and then proceed with the remaining three fracs in the next several weeks. "Right now we have two more horizontal wells cased and waiting for completion, along with five vertical wells in various stages of completion. We anticipate having all these wells flowing to sales by year- end," added Dinges.

The capital plan for 2009 is $600 million. "Much of this investment will be spent in East Texas and Pennsylvania," said Dinges. "Only nine percent of our planned expenditures is allocated to our other plays in the Company."

Dinges added, "We plan to allocate over 90 percent of our 2009 capital to the Marcellus and East Texas. In each area, we have received and continue to gather significant new data points. We have been delayed somewhat in our efforts with regulatory issues in Pennsylvania and limited quantities of frac material in East Texas. However, with that being said, we are very excited about the information we have gathered in each area and look forward to receiving test information from key wells that is imminent."



Tuesday, October 28, 2008

Citrus Energy

Profile of Citrus Energy from information gathered from company's Web site

Company Web site: http://www.citrusenergy.com


The company is private, not publicly traded. It has signed natural gas leases with the Wyoming County Landowners Group.

According to the company, operations in the Marcellus Shale will lead to an office opening in Pennsylvania. The company has offices in Castle Rock, Colo. and Plano, Tex.

Company owners are: Lance Peterson and David Oberbrockling. Oberbrockling is an engineer and Peterson, a geological engineer.

The company has operations in Oklahoma, Texas, Washington and Pennsylvania.


Oklahoma:
The company says it has drilled and completed several wells.

Texas: The company says it has a significant presence in the Barnett Shale, holding in excess of 20,000 acres.

Washington: The company says it has acquired or has options to acquire 70,000 acres in the Vader Coal Bed Methane Project. The company says it expects to begin development of the project late in 2008.

Pennsylvania: The company says it now has leasing operations and has formed a partnership with a drilling company to drill.


The company says its partners include: Oklaco Holding, a geologic/land company; Clearwater Enterprises, a gas marketing and consulting company; and, Boom Drilling.

Tuesday, October 21, 2008

Times-Shamrock natural gas drilling story links

http://www.scrantontimes.com/articles/2008/10/20/editorial/sc_times_trib.20081020.a.pg14.tt20edit2_s1.2023716_edi.txt

http://www.scrantontimes.com/articles/2008/10/15/news/sc_times_trib.20081015.a.pg4.tt15wastewater_s1.2016158_loc.txt

http://www.scrantontimes.com/articles/2008/10/14/news/sc_times_trib.20081014.a.pg7.tt14chesapeake_s1.2013270_loc.txt

http://www.scrantontimes.com/articles/2008/10/12/news/sc_times_trib.20081012.a.pg5.tt12engineer_s1.2009433_loc.txt

http://www.scrantontimes.com/articles/2008/10/06/editorial/sc_times_trib.20081006.a.pg12.tt06edit1_s1.1991917_edi.txt

http://www.scrantontimes.com/articles/2008/10/03/news/sc_times_trib.20081003.a.pg4.tt03gastips_s1.1988611_loc.txt

http://www.scrantontimes.com/articles/2008/10/01/news/sc_times_trib.20081001.a.pg7.tt01cheseapeake_s1.1982900_loc.txt

http://www.citizensvoice.com/articles/2008/10/20/news/wb_voice.20081020.t.pg2.cv20cd117th_s1.2026945_top3.txt

http://www.thedailyreview.com/articles/2008/10/09/news/doc48ed80e70227d179200827.txt

http://www.thedailyreview.com/articles/2008/10/08/news/doc48ec471adef17092958657.txt

http://www.thedailyreview.com/articles/2008/10/07/news/tw_review.20081007.a.pg5.tw07tow-council_s1.1996472_loc.txt

http://www.thedailyreview.com/articles/2008/10/07/news/doc48eae2b659d64283767703.txt

http://www.thedailyreview.com/articles/2008/10/05/news/tw_review.20081005.a.pg3.tw04video_s1.1992490_loc.txt

http://www.citizensvoice.com/articles/2008/10/15/news/wb_voice.20081015.t.pg14.cv15cdmoonlake_s1.2015756_loc.txt

http://www.citizensvoice.com/articles/2008/10/05/news/wb_voice.20081005.a.pg4.cv05cdcolumn_s1.1992129_top8.txt

http://www.thedailyreview.com/articles/2008/10/17/news/doc48f8083473b49260241186.txt

http://www.thedailyreview.com/articles/2008/10/16/news/doc48f6c285dd79f493132980.txt

http://www.thedailyreview.com/articles/2008/10/16/news/doc48f6c1718689e591461377.txt

http://www.thedailyreview.com/articles/2008/10/10/news/tw_review.20081010.a.pg1.tw10video_s1.2005601_loc.txt

http://www.thedailyreview.com/articles/2008/10/10/news/tw_review.20081010.a.pg1.tw10gas-lease_s1.2003685_loc.txt

http://www.thedailyreview.com/articles/2008/10/03/news/tw_review.20081003.a.pg1.tw03commish_s1.1989186_loc.txt

http://www.thedailyreview.com/articles/2008/10/03/news/doc48e5a2917ec52560033151.txt

http://www.independentweekender.com/site/index.cfm?newsid=20164919&BRD=2279&PAG=461&dept_id=467076&rfi=8

http://www.independentweekender.com/site/index.cfm?newsid=20164910&BRD=2279&PAG=461&dept_id=467076&rfi=8

http://www.independentweekender.com/site/index.cfm?newsid=20155386&BRD=2279&PAG=461&dept_id=467076&rfi=8

http://newage-examiner.com/sections/news/archive/2008/10/16/eaton-monroe-amend-zoning-regs.aspx

Friday, October 17, 2008

Susquehanna River Basin Commission upcoming meeting

SUSQUEHANNA RIVER BASIN COMMISSION


SRBC TO HOLD HEARINGS OCTOBER 21 AND 22 ON PROPOSED CHANGES
TO STREAMLINE REVIEW OF NATURAL GAS WELL DEVELOPMENT APPLICATIONS

WHAT: The Susquehanna River Basin Commission (SRBC) is holding two public hearings to receive comment on proposed regulatory revisions that will further protect the basin’s water resources and streamline the review of consumptive water uses by the natural gas industry. The proposed regulatory changes are available on SRBC’s web site www.srbc.net/programs/projreviewmarcellus.htm.

Hearing I:
Tuesday, October 21, 2008 7:00 p.m.

Where:
Lycoming College
Academic Center
Lecture Hall Room D001
Mulberry Street
Williamsport, PA

Hearing Chaired By:
Cathleen Curran Myers
SRBC Alt. PA Commissioner


Hearing II
Wednesday, October 22, 2008 7:00 p.m.

Binghamton University SUNY
Lecture Hall Complex
Lecture Hall 1
Route 434 (Vestal Parkway East)
Binghamton, N.Y.

Hearing Chaired By:
Kenneth Lynch
SRBC Alt. NY Commissioner

DIRECTIONS:
Lycoming College
http://www.lycoming.edu/admissions/OurCampus/CampusMap.html

Binghamton University SUNY
http://www2.binghamton.edu/about/visiting-campus/maps-and-directions.html