Researchers at Columbia University said earthquakes that occur on the other side of the world could create smaller temblors near wastewater injection sites in the United States.
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Study Says Quakes Abroad Could Hit U.S. Injection Wells
Researchers at Columbia University said earthquakes that occur on the other side of the world could create smaller temblors near wastewater injection sites in the United States.
North Dakota Official Says USGS Williston Assessment ‘Conservative’
The U.S. Geologic Survey’s (USGS) assessment of the Williston Basin’s Bakken Shale and Three Forks formation in North Dakota, Montana and South Dakota, which combined was estimated at 7.4 billion bbl of technically recoverable oil, is “very conservative,” according to North Dakota’s chief oil and gas regulator.
Quarterly Briefs
Quicksilver Resources Inc. is continuing to “hammer on the cost side” of its business, deferring elective spending in the energy patch and cutting back on staff. A recently announced joint venture (JV) in the Barnett Shale with Tokyo Gas Co. Ltd. was welcome news (see NGI, April 8), but there is more work ahead. “We are focused on the most important projects and we’re bringing in partners to both reduce debt and assist in the development of our assets,” said CEO Glenn Darden. “The company is very serious about reducing costs and living within cash flows.” Over the last year, the employee count has come down by about 20%. The Fort Worth, TX-based operator reported an adjusted net loss of $6 million (minus 4 cents/share) compared with a loss in 1Q2012 of $15 million (minus 9 cents). Since it was able to complete a long-sought Barnett Shale deal and in light of “challenging” natural gas liquids pricing, the company has shelved plans to create a Barnett master limited partnership (see NGI, Nov. 12, 2012).
Not Everyone is Ready to Sign Appalachian Fracking ‘Peace Treaty’
It was billed as a bilateral effort to ensure safe and environmentally responsible development of the Appalachian Basin’s shale gas resources, but not everyone on the environmental side of the aisle is ready to embrace the Center for Sustainable Shale Development (CSSD).
Mercer County, PA, Seeing Large Increase in Leasing
Located three counties due north of the wet gas window of the Marcellus Shale, and over a state line from expanding development in the Utica Shale, Mercer County, PA, nevertheless appears poised to benefit from development of both plays in the near future.
Pennsylvania Township Wants Range to Reapply for Denied Permits
Officials in Robinson Township, PA, told leaseholders that they were welcome to contact Range Resources Corp. and try to convince the company to reapply for two Marcellus Shale drilling permits the township denied in February.
Apache Feeling the Love in Permian, Midcontinent
Apache Corp. is taking no prisoners in the Permian Basin nor in the Midcontinent after building output from the combined regions by almost 24% in 2012 from 2011. The Permian and Central operations in 4Q2012 by themselves represented 25% of Apache’s total global production at 197,000 boe/d.
Stepped-Up Monitoring Ordered at Louisiana Sinkhole
Louisiana’s commissioner of conservation has ordered Texas Brine LLC to abate the safety and environmental threats from its failed brine cavern on the west side of the Napoleonville Salt Dome in Assumption Parish where a sinkhole has been threatening residents and infrastructure since August.
Fifth Circuit Rules Against Chesapeake in Canceled Texas Lease Deal
The U.S. Court of Appeals for the Fifth Circuit in New Orleans has ruled against Chesapeake Energy Corp. in its bid to reverse a $19.7 million judgment over a canceled oil and gas lease offer in Texas, a decision that may hold implications on canceled lease claims by mineral rights owners in several other states.