Rents and royalties reported on Pennsylvania income tax returns from 2006 to 2010 have increased 61% statewide, and 119% in counties with Marcellus Shale activity, according to a report by the Allegheny Institute for Public Policy (AIPP). Rent and royalty income for landowners and mineral rights owners in the state rose 34% in counties with no Marcellus activity.
Articles from Reflecting
Debt- and dry gas-laden Quicksilver Resources Inc. posted a hefty loss for the second quarter, largely due to a nearly $1 billion asset impairment reflecting low commodity prices. Last week management talked up plans to right the balance sheet and weather the low-price period with spending cuts and other measures.
Debt- and dry gas-laden Quicksilver Resources Inc. posted a hefty loss for the second quarter, largely due to a nearly $1B asset impairment reflecting low commodity prices. On Tuesday management talked up plans to right the balance sheet and weather the low-price period with spending cuts and other measures.
For the second time this year, Newfield Exploration Co. raised its full-year production forecast based on rising output from key U.S. onshore oil and natural gas liquids (NGL) plays.
Royal Dutch Shell plc is joining its brethren in staking out liquids-rich shale development in North America while at the same time it works to leverage value from its extensive natural gas portfolio, executives said last week.
ExxonMobil Corp., the largest natural gas producer in North America, is well aware of the economics in drilling U.S. and Canadian dry natural gas wells today. But it has no plans now to shut in any gas wells, the investor relations chief said last week.
Reflecting the downward trends in the latest national statistics, Xcel Energy Inc. on Friday said it will decrease its retail natural gas and power rates in Colorado Oct. 1, assuming state regulators approve the move. A day earlier the U.S. Energy Information Administration (EIA) reported year-over-year declining gas and electricity bills for consumers.
March natural gas futures managed a modest gain Monday as traders cited market moves reflecting largely bookkeeping and rolling of positions from one month to the next. There was little in the way of new fundamental information, and traders suggested that short-term support areas were safe for the moment. At the close March natural gas was up 1.5 cents to $3.925 and April added 1.4 cents to $3.991. March crude oil continued its losing ways, posting a decline of 77 cents to $84.81/bbl.
Reflecting new federal mandates following the San Bruno natural gas pipeline explosion in September, new California Gov. Jerry Brown’s stripped-down state budget proposal released Monday included more money for gas pipeline safety efforts. Although the amounts are small, they come in a budget that carries $12.5 billion in spending cuts and a proposed 8-10% pay cut for state employees.
Chiefly reflecting the previous Friday’s 11.5-cent rebound by October futures and the return of industrial load from its usual weekend hiatus, prices rose at a large majority of points Monday.