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2012

Ohio Bill Offers Local Benefits for Selling Water to Operators

A bill under consideration by the Ohio House of Representatives would allow local governments to transfer into their coffers revenue generated from water sales to unconventional drilling operators.

May 17, 2013

Crosstex Invests Another $25M in Utica Partnership

Crosstex Energy Inc. will invest about $25 million in a third natural gas compression and condensate stabilization facility in the Ohio River Valley through E2, a company Crosstex formed in March with former management of Enerven Compression Services to serve Utica Shale producers.

May 16, 2013

Revised Frack Rule Said to Weaken Public Land Requirements

Citing “intense pressure” from industry and its allies in Congress, a New Jersey congressman said Wednesday that the Interior Department appears to be making its proposed rules governing hydraulic fracturing (fracking) of oil and gas wells on public lands weaker, not stronger.

May 9, 2013

Chesapeake Jettisons More Pennsylvania Acreage to EQT

Chesapeake Energy Corp. on Friday agreed to sell an estimated 99,000 net acres in southwestern Pennsylvania, including 10 wells, to EQT Corp. for $113 million, which puts the sale price at roughly $876/acre.

May 6, 2013

Industry Brief

Double Eagle Energy Holdings and private equity firm Apollo Global Management have formed a partnership to invest in oil and natural gas properties in Oklahoma, focusing primarily on the Anadarko and Ardmore basins. Fort Worth, TX-based Double Eagle already has more than 500,000 acres across Texas and the Midcontinent, according to Co-CEO Cody Campbell. The partnership with Apollo “will provide a great opportunity to expand and continue our land-centered approach to oil and gas asset acquisition, which has proven successful over the last several years,” he said. Last year, Apollo led a consortium of private equity investors in a $7.15 billion leveraged buyout of El Paso Corp.’s exploration and production business, which included an array of liquids-rich U.S. unconventional property extending across Texas, Louisiana, the Raton Basin and the Rocky Mountains (see Shale Daily, Feb. 28, 2012).

April 30, 2013

House Renews Push to Drill Offshore Virginia

The House has introduced legislation that would open federal waters off the coast of Virginia to oil and natural gas development, and the Senate is expected to offer a companion bill in the coming weeks.

April 30, 2013

E&Y: Gulf Coast LNG Exports Work with $5-6 U.S. Gas

Global demand for natural gas is projected to grow at about 2% per year, about twice the rate for oil demand. And liquefied natural gas (LNG) capacity, which about doubled from 2000 to 2012 could double again by 2025, according to Ernst & Young (E&Y). But it’s still early days in the U.S. LNG export game, and opinions vary widely on what will happen.

April 29, 2013

FracFocus Groups Fire Back at Harvard

One day after a report by Harvard Law School researchers leveled withering criticism against FracFocus, the two organizations that jointly manage the oil and natural gas disclosure registry fired back for what they claim were misrepresentations of the site.

April 25, 2013

Harvard Study Says FracFocus Is Inadequate Regulatory Tool

FracFocus has several design flaws that make it inadequate as a regulatory compliance tool, according to a study conducted by the Environmental Law Program at Harvard Law School.

April 24, 2013

Interior Chief Doesn’t See ‘One-Size-Fits-All’ Fracking Rule

Interior Secretary Sally Jewell, who is in her second week on the job, signaled Monday that new rules governing federal regulation of hydraulic fracturing (fracking) are imminent.

April 24, 2013