Chesapeake Shares ‘Have Hit a Floor,’ Says Analyst

Chesapeake Energy Corp.’s stock price may have reached its bottom, an energy analyst said Friday. However, things may heat up in the coming days after activist shareholder Carl Icahn revealed late Friday that his firm now owns a 7.6% stake in the company — and he wants four board members replaced.

May 29, 2012

Pennsylvania DEP Finds Methane in Three Wells, Two Streams

Inspectors with the Pennsylvania Department of Environmental Protection (DEP) found methane gas in three residential water wells and two streams in Bradford County. DEP has launched an investigation to determine the source.

May 29, 2012

Forecasters Agree: Hurricane Numbers Look Lower Than 2011

A flurry of long range forecasts last week all reached the same conclusion: the 2012 hurricane season is expected to produce fewer tropical storms than the last few years.

May 28, 2012

Chesapeake, Ohio Company File Counterclaim in Leasing Dispute

Several Chesapeake Energy Corp. subsidiaries, along with a privately owned oil and gas exploration company based in Ohio, have filed a counterclaim in federal district court as they look to fight a lawsuit by 17 landowners in western Pennsylvania over a leasing dispute.

May 14, 2012

CEO: BP Running Five Rigs in GOM, Adding Three by Year’s End

BP plc executives are hopeful that they can complete “in a few days” the $7.8 billion settlement tentatively reached last month with thousands of individuals and businesses that were impacted by the April 2010 Macondo well blowout in the deepwater Gulf of Mexico (GOM), Chairman Carl-Henric Svanberg said Thursday at the company’s annual meeting.

April 13, 2012

Cecil Township Investigating Legal Challenge to Act 13

Elected officials in Cecil Township, PA, voted Monday to have the township solicitor look into mounting a legal challenge to Pennsylvania’s new Marcellus Shale law on the grounds that it usurps local zoning authority.

March 7, 2012

Utility: Shale Gas Makes Indiana’s Coal-to-SNG Plans Unwise

A Vectren Corp. official told a panel of Indiana lawmakers on Tuesday that the state’s 30-year contract to purchase coal-to-substitute natural gas (SNG) from a New York company should be modified so smaller gas customers aren’t stuck with the bill should the deal prove to be a bad investment.

February 16, 2012

BP Begins to Invest for Long Haul, Says CEO

London-based BP plc reached a operational “turning point” in October and has begun to invest for the long term, CEO Bob Dudley told investors last week.

February 13, 2012

BP Reaches Operational ‘Turning Point,’ Says CEO

BP plc reached a “turning point” in its operations in October and has begun to invest for the long term, CEO Bob Dudley told investors on Tuesday.

February 8, 2012

Pennsylvania Close to Agreement on Gas Impact Fee

Pennsylvania lawmakers have apparently reached a deal on an impact fee to impose on unconventional natural gas wells that would split the revenue 60% to local governments and 40% to the state, and toughen drilling restrictions, but leave control of those rules primarily in state hands.

February 7, 2012