Tuesday, December 14, 2010

Marcellus News for Pennsylvania, Dec. 14

Philadelphia Inquirer
"The Delaware River Basin Commission on Thursday proposed natural gas drilling rules in its four-state watershed that are tougher than those in the rest of Pennsylvania but that promise to do little to stem the intense wrangling over how to regulate the growing industry."

The Wellsboro Gazette
"Former Gov. Tom Ridge talked about how he is working to guide development of the Marcellus shale play in Pennsylvania.
Ridge spoke to 173 people gathered Monday morning, Dec. 6, for the annual meeting of the Wellsboro Area Chamber of Commerce and Growth Resources of Wellsboro. Ridge, 65, is founder and CEO of Ridge Global, a Washington, D.C., advisory firm contracted to assist the Marcellus Shale Coalition." Note: the Marcellus Shale Coalition is a pro-drilling group.

Houston Business Journal
"Net proceeds (of share offerings) are expected to be $52.5 million, used toward the company’s $28.8 million purchase of Marcellus Shale assets in Pennsylvania as well as $18 million in litigation settlements." Litigation settlements...guess legal actions are part of business deals.

Fort Worth Star-Telegram
"Range Resources wants to ensure that it has a steady stream of cash to pay for its 2011 developmental drilling program....Accordingly, Range already has "hedged" more than 80 percent of its 2011 gas production,"

The Tribune Democrat (Johnstown, PA)
"Will gas deposits bring an economic ‘godsend’ or environmental crisis?" Leans toward godsend, with reservations.
Canton (OH) Repository
"Nearly 3,000 working oil and natural gas wells dot Stark County.Energy companies want to see more. Company representatives are asking property owners to sell their mineral rights.... The requests have raised concerns." The comments are goldem lots of poo-poohing concerns by good Calvinish pro-business types. Makes em' look tough!
The Ithaca (NY) Journal
"It's only speculation, but properties located close to the border with Pennsylvania that include mineral rights may be selling for more at auction, said Kevin Keough, Broome County's Director of Real Property."
Bloomberg News
"Pennsylvania's highway department is slapping weight limits on more roads to ensure gas-drilling companies fix the damage caused by their trucks, but says it will exempt local companies that do not use the roads heavily." Wanna bet the drilling companies will finagel themselves the local exemptions?

Danville News
"Leaders of Pennsylvania housing groups Tuesday implored Congress to quickly back the National Housing Trust Fund so that relief may come fast to the housing crisis in Marcellus Shale-drilling regions, some of which are seeing 350 percent increases in apartment or house rental fees." Hmm, housing was tight and rents high when I worked in Boston, no grants to build more for us there.

Huffington Post
"...New Yorkers and Pennsylvanians came out in force (and in evening dress) to protest the gathering, at which the Energy Association and the Marcellus Shale Coalition hosted after-parties. Governor-elect Corbett favors hydraulic fracturing, a new evolution of an old drilling process which uses high volume toxic chemicals."
 Really? Considering it looks like we're repeating last year's pattern (and its warm in the west and warmer than normal in the Arctic BTW).

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