Newark

Industry Brief

Pennsylvania State Universityresearchers who have been charged with monitoring 21 seismograph stations across the state are also reportedly studying the geological structure of the South Newark Basin. The $269,000 study is part of a federal program to research earthquakes nationwide, and was contracted to the university by theDepartment of Conservation and Natural Resources(DCNR) this summer, according to Philadelphia’sIntelligencernewspaper, which gathered the information through a series of right-to-know requests. In 2012 theU.S. Geological Survey(USGS) said the South Newark was one of three Mesozoic shale basins along the East Coast with the “most resource potential” for oil and gas producers (seeShale Daily,June 21, 2012). There is a 95% chance that at least 363 Bcf of undiscovered natural gas is locked in the formation, along with 1 million bbl of undiscovered natural gas liquids, USGS said. Following the USGS report, the General Assembly days later adopted a drilling moratorium for the South Newark Basin, which is located across upscale, ex-urban Philadelphia counties (seeShale Daily,July 3, 2012). The legislation forbid the state’sDepartment of Environmental Protectionfrom issuing well permits in the basin until DCNR completed a study of “the practical resource recovery implications” of the USGS report and the fiscal impact of oil and gas operations in the basin. Oil and gas operations in the South Newark Basin are already restricted by theDelaware River Basin Commission’s de facto moratorium on exploration and development (see Shale Daily,June 16, 2010).

October 3, 2013

PSEG Shakes Up Staff While Shaking Off Failed Exelon Bid

Newark-based Public Service Enterprise Group (PSEG) has made a series of management and organizational changes, including the naming of new presidents for four businesses: PSEG Energy Holdings, PSEG Global, PSEG Energy Resources & Trade and PSEG Services. The company also is restaffing positions that went unfilled in anticipation of its merger with Exelon, now aborted.

December 11, 2006

PSEG Shakes Up Staff While Shaking Off Failed Exelon Bid

Newark-based Public Service Enterprise Group (PSEG) has made a series of management and organizational changes, including the naming of new presidents for four businesses: PSEG Energy Holdings, PSEG Global, PSEG Energy Resources & Trade and PSEG Services. The company also is restaffing positions that went unfilled in anticipation of its merger with Exelon, now aborted.

December 8, 2006

Mitchell Energy Doubles Production in N. Texas

Mitchell Energy & Development’s gas production in NorthTexas is soaring. The company announced that its developmentprogram in the Newark East Barnett shale field is exceedingexpectations. In a little more than a year’s time, the company’sgross natural gas production in the Barnett field has doubled to172 MMcf/d. At this rate, Mitchell Energy will meet, and exceed itstarget growth of 15% this year.

July 17, 2000

Mitchell Energy Doubles Production in N. Texas

Mitchell Energy & Development’s gas production in NorthTexas is soaring. The company announced that its developmentprogram in the Newark East Barnett shale field is exceedingexpectations. In a little more than a year’s time, the company’sgross natural gas production in the Barnett field has doubled to172 MMcf/d. At this rate, Mitchell Energy will meet, and exceed itstarget growth of 15% this year.

July 14, 2000