Opinion

A Pennsylvania appeals court has finally weighed in on the remaining aspects of a lawsuit filed by the Marcellus Shale Coalition (MSC) nearly three years ago that challenged the state’s regulatory overhaul for unconventional natural gas producers, issuing a mixed opinion that still leaves the industry in search of answers.

In a blow to opponents of the controversial Clean Water Rule (CWR), a federal appeals court panel in Atlanta said it would be a “colossal waste of judicial resources” for it to get involved in the ongoing legal challenge to the rule, deferring the case to an appeals court in Cincinnati.

BP plc has requested a rehearing of a FERC decision last month that affirmed the findings of an administrative law judge (ALJ) and levied a $20.16 million fine against the London-based supermajor in a 2008 market manipulation case, saying it “is not the product of reasoned decisionmaking and is not supported by substantial evidence.”

ExxonMobil Corp., Chevron Corp., BP plc and super independent ConocoPhillips are expected to lead all other exploration and production (E&P) spenders in the United States this year, with capital expenditures (capex) on average about 5% higher than in 2012, according to a survey by Barclays Capital. Last year’s No. 2 spender, Chesapeake Energy Corp., dropped to No. 5 after cutting its exploration plans.

A Quinnipiac University poll released Tuesday showed that for the first time, Republican voters in New York State have an unfavorable opinion of Gov. Andrew Cuomo, a Democrat who took office two years ago and who is at the forefront of the debate over hydraulic fracturing (fracking).

In a case that carries tens if not hundreds of millions of dollars of impact, a North Dakota District Court judge rendered the first opinion in a dispute over who is entitled to subsurface mineral rights in the “shore zone” along two major navigable waterways in the state. Ultimately, the issue will need to be resolved by the state Supreme Court, state officials said.

Analysts are keeping an eye on costs and production results from the still-emerging Tuscaloosa Marine Shale (TMS), but Amelia Resources LLC is going “100 mph” to market 47,300 net acres in the play, which management believes may hold a resource potential of more than 1 billion bbl.

Chesapeake Energy Corp. CEO Aubrey McClendon, who Thursday spoke to analysts publicly for the first time in months beyond the Oklahoma City boardroom, said the company remains on track to sell up to $14 billion of assets by the end of the year, including a package of properties in the Permian Basin. He’s also confident that even as the company continues to turn toward more oily production, natural gas prices will strengthen in the coming months.

Two separate polls conducted in New York State have found that public opinion of hydraulic fracturing (fracking) hasn’t changed much over the past year.