A northeast Ohio company has plans to open one of the state’s first third-party water treatment facilities to process flowback, brine and other wastewater that collects during the drilling process. Ohio favors injection wells to dispose of its oilfield waste, with nearly 98% of all brine water being disposed of in Class II injection wells. Iron Eagle Enterprises LLC, of Liberty Township is the first to receive a third-party permit. Plans call for constructing a 14,000 b/d, or 588,000 gallon, facility in Carroll County, where drilling activities have been robust. The plant is expected to employ as many as 50 people once it’s operational. No completion date has been announced.
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Silverback Exploration LLC, a newly formed oil and gas exploration company, has received a $350 million equity commitment fromEnCap Investments. San Antonio-based Silverback will use the capital to pursue and develop unconventional resource play opportunities in the United States. Silverback is led by CEO George M. Young Jr., who most recently served as president of Collins and Young LLC.
Physical natural gas for Sunday and Monday delivery tumbled nearly 20 cents in Wednesday’s trading, yet if Boston, New York and Philadelphia are excluded from the analysis, the decline comes in at a more moderate 11 cents.
Spot gas for Wednesday delivery on average fell a penny in Tuesday’s trading. However, if one is willing to assume that market dynamics in the transportation-challenged Iroquois-Algonquin corridor distort the broader national market, removing those prices shows a 6-cent decline overall.
U.S. Sen. Edward Markey (D-MA) has introduced a pair of bills to speed up the repair and replacement of the nation’s natural gas pipelines, and to set up a funding mechanism designed to motivate utilities and states to complete the projects, with the federal government shouldering some of the costs.
Texas Gas Transmission is holding a binding open season through Jan. 13 for primary firm natural gas backhaul transportation service from Ohio’s Marcellus and Utica shales into Lebanon, OH, pipeline interconnects, with an ultimate destination to serve utilities in the Midwest and South.
Operators have turned to shales because that’s where the oil is. So it’s not surprising to find that shale towns are also where the money is, according to personal income data from the U.S. Bureau of Economic Analysis (BEA).
CME Group reported last week that due to a “technical issue” fractional changes have been made to the contract expiration prices of 10 Nymex energy products and related instruments settled between May and October 2013. This is the second time in less than a month that CME has had to issue an energy contract-related settlement revision.
Pro-hydraulic fracturing (fracking) interests are growing in stature among political campaign contributors, according to a public interest advocacy group, which attributes their increased spending to increased discussion of the well stimulation practice.