“We have thousands and thousands of well locations,” he said at the UBS Global Oil and Gas Conference. “We’ll be drilling at this pace for many years to come, assuming the [Nymex] strip pricing that we have today. We do plan to drill close to 400 wells this year and that certainly, of all of our operations, can flex more than any others as we need to respond to gas prices, one way or the other [see Shale Daily, May 24].”
Articles from Years
XTO Energy Inc.’s natural gas liquids (NGL) recovery facility in Butler County, PA, has entered service processing wet gas from Marcellus and Utica shale drilling in southwestern Pennsylvania.
Chesapeake Energy Corp. shareholders reelected the company’s board of directors, but rejected separate proposals to implement proxy access, reincorporate in Delaware and declassify the board, the last of which would have made it easier to replace the entire board in one fell swoop.
The Pennsylvania Public Utility Commission (PUC) said Thursday that localities affected by oil and gas drilling in 2012 will collectively receive $102.7 million from impact fee revenue generated by Act 13, the state’s omnibus Marcellus Shale law.
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.
As part of its multi-sourced, multi-year integrated resource plan (IRP) approved by state regulators three years ago, (PGE) said Monday it has signed deals to develop a 440 MW natural gas-fired electric generation plant in Oregon, along with new wind power and electric transmission.
Warren Resources Inc. plans to drill 25 new coalbed methane (CBM) wells in the Spyglass Hill Unit in Wyoming’s Washakie Basin, a sub-basin of the Greater Green River Basin, the New York City-based exploration and production company said.
A Canadian-based exploration/production (E&P) company founded five years ago put a chill on its bullish joint venture aimed at drilling on some of its extensive Monterey Shale acreage in California just as federal leasing policy in the state has been called into question for slowing development.
Operators developing plans to work in Alaska’s offshore, notably Royal Dutch Shell plc, have faced stiff and costly opposition for years, but Gulf of Mexico (GOM) operators should be aware that a growing threat of more lawsuits could derail some projects as well, industry executives said Tuesday at the Offshore Technology Conference (OTC) in Houston.
Data just coming in from 2011 shows that investment in U.S. shale oil and gas drilling nearly doubled over 2010 levels, which vaulted shale plays to account for nearly one-quarter of all wells drilled in the United States, according to the American Petroleum Institute (API).