The Rocky Mountain area provided years of solid natural gas growth until an upstart called shale oil came along. Now the massive region is providing both, with operators showing that from a lot, they can produce a lot. Here’s a review of area developments surfacing over the past week in 2Q earnings reports from several operators.
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Heinz Endowments Fires Environmental Director
The Heinz Endowments — a Pittsburgh-based philanthropic organization that has given millions to both supporters and opponents of hydraulic fracturing (fracking) — has caused a stir with its abrupt dismissal of its environmental program director, and indications it will be going in new directions.
Forays From the Established Eagle Ford into the Tuscaloosa
Producers reporting their operations results in 2Q2013 over the past week indicate no let-up in the work to be done, with liquids/oil growth from the Eagle Ford funding forays into the Tuscaloosa Marine Shale (TMS).
Debate Lingers Over Pennsylvania Drilling Law
Thirteen days after Pennsylvania Gov. Tom Corbett signed a controversial drilling bill into law, the debate over how it will affect Marcellus Shale development has taken a new turn after EQT Corp. filed a lawsuit against 69 landowners and a golf course in Allegheny County, PA.
Texas Tea, Midcon Sugar Sweetening U.S. Reserves
Smack dab in the middle of the country to the Texas coast, unconventional producers have reported strengthening oil and natural gas output between April and June, with strong contributions from the Permian Basin along with the Fayetteville and Woodford and liquids growth in the Barnett shales.
Pennsylvania PUC, DEP Petition State Supreme Court
Just days after a seventh justice was sworn in to the Pennsylvania Supreme Court, the Public Utility Commission (PUC) submitted a request that the high court reconsider its decision to quash an appeal by the commission regarding enforcement of Act 13, the state’s omnibus Marcellus Shale law.
Oil, NatGas Industry Employment Grew 40% Over Six Years
In the six years spanning 2007 through 2012, total U.S. private sector employment increased by more than one million jobs, or about 1%. However, over the same period, the oil and gas industry — segmented into drilling, extraction and support segments — increased by more than 162,000 jobs, which equates to a 40% increase,” according to a new study from the U.S. Labor Department’s Bureau of Labor Statistics (BLS).
Chesapeake Gives Up Fight to Drill in New York
Chesapeake Energy Corp. no longer wants to fight the state of New York’s moratorium on unconventional drilling and is allowing leases it holds in the Southern Tier to expire.
Unconventional Technology Still in Early Days, Says COGA Panel
Technological innovations in the oil and gas industry have led to some remarkable discoveries over its 150-year history, but even with the plethora of inventions that have boosted U.S. reserves, there’s still plenty to learn, energy stalwarts said last week at the Colorado Oil & Gas Association’s 25th Annual Rocky Mountain Energy Summit.
Natural Gas Guiding Sempra’s Growth
With continued confidence that their proposed Gulf Coast-based liquefied natural gas (LNG) export project will begin construction next year, Sempra Energy senior executives last week said they are looking for other market growth opportunities from the shale-driven U.S. gas supply boom.