As energy companies begin collecting production data from the few wells drilled so far in Ohio’s portion of the Utica Shale, a picture is starting to emerge that company executives and industry experts agree will determine how, where and when the play will ultimately be developed.
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BHP Takes US$2.8B Charge on Fayetteville Fail
Australia’s BHP Billiton Ltd. is taking a US$2.84 billion pre-tax charge against the value of dry gas assets in the Fayetteville Shale that it acquired just last year due to weak natural gas prices and oversupply.
Marcellus Shale Coalition Unveils Supply Chain Recommended Practices
Laying out a blueprint for how small- and medium-sized businesses can take advantage of the opportunities provided within the current U.S. natural gas development boom, the Marcellus Shale Coalition (MSC) has released the second in a series of recommended practices aimed at bolstering the Marcellus Shale region’s supply chain.
Braskem to Take Over Petrochemical Operations at Marcus Hook
Braskem America on Wednesday agreed to take over some of the petrochemical operations at the old Sunoco Marcus Hook Industrial Complex south of Philadelphia with a $56 million infusion and another $15 million in state support that preserves more than 100 jobs and creates at least 28 more.
EIA Foresees a Small Production Drop in Coming Months
U.S. shale gas plays continued to make a substantial contribution to the country’s natural gas production, the Energy Information Administration (EIA) said Tuesday in a report that cited supply gains last month. However, a declining rig count signals that production declines are on the way, the agency said.
Pennsylvania, Chief Investigate Acid Spill in Bradford County
An estimated 4,700 gallons of hydrochloric acid (HCL) that were spilled on Wednesday at a Chief Oil & Gas LLC drilling operation in Leroy Township in Bradford County, PA, had been remediated almost entirely by Thursday, officials said.
Third Point Takes Big Chesapeake Position, Say Market Insiders
Private hedge fund operator Third Point LLC, which is run by activist investor Daniel Loeb, listed Chesapeake Energy Corp. as one of the fund’s largest new holdings in a June exposure report to investors, according to several market followers.
Pennsylvania Legislators Finishing ‘Unlimited’ Cracker Tax Break Deal
Legislators in the Pennsylvania General Assembly are scrambling to put the finishing touches on a tax code bill that could potentially offer billions in a tax break to companies in exchange for investing billions in an ethane cracker and associated manufacturing facilities.
Pennsylvania Regulators, Industry Continue Push for NGVs
Pennsylvania regulators and industry stakeholders are pushing ahead with plans to greatly increase the use of natural gas for transportation across the state, but it will take some time before any visible signs of progress emerge, a Marcellus Shale Coalition (MSC) spokesman told NGI Tuesday.
EIA Sees Shale Boosting U.S. Gas Production Through 2035
United States natural gas production is expected to increase every year through 2035 thanks to increased shale development, according to the U.S. Energy Information Administration’s (EIA) complete version of the Annual Energy Outlook 2012 (AEO2012). Just as the preliminary report released in January found (see Shale Daily, Jan. 24), the EIA also believes the United States will transition from being a net importer to a net exporter of natural gas in approximately nine years.