By Andrea: http://oilshalegas.com
Williams Partners L.P. (WPZ) announced that it has completed the acquisition of Cabot Oil & Gas Corporation's (COG) midstream assets in the Marcellus Shale located Susquehanna County, Pa., for $150 million.
The assets include approximately 75 miles of gathering pipelines and two compressor stations that are currently gathering approximately 230-240 million cubic feet per day (MMcf/d) of Cabot's natural gas production.
The partnership has also agreed to a new long-term dedicated gathering agreement with Cabot for its production in the northeast Pennsylvania area of the Marcellus Shale. The 25-year agreement covers an area of mutual interest that currently includes approximately 138,000 net acres.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Showing posts with label pennsylvania. Show all posts
Showing posts with label pennsylvania. Show all posts
Thursday, December 23, 2010
Wednesday, December 1, 2010
Cameron County, PA - Marcellus Shale
By Tim - http://oilshalegas.com
UK Based Endeavour International Corporation (NYSE Amex: END) recently announced that they will be drilling two horizontal wells in Cameron County, PA in the Marcellus Shale.
In the Pennsylvania Marcellus shale play, the company will participate in two horizontal wells to be drilled in the fourth quarter to further evaluate the Daniel Field in Cameron County where an integrated development plan is being formalized.
http://phx.corporate-ir.net/phoenix.zhtml?c=131980&p=irol-newsArticle&ID=1490842&highlight=
For more shale news updates, visit http://blackberrystocks.blogspot.com
UK Based Endeavour International Corporation (NYSE Amex: END) recently announced that they will be drilling two horizontal wells in Cameron County, PA in the Marcellus Shale.
In the Pennsylvania Marcellus shale play, the company will participate in two horizontal wells to be drilled in the fourth quarter to further evaluate the Daniel Field in Cameron County where an integrated development plan is being formalized.
http://phx.corporate-ir.net/phoenix.zhtml?c=131980&p=irol-newsArticle&ID=1490842&highlight=
For more shale news updates, visit http://blackberrystocks.blogspot.com
Sunday, October 24, 2010
Butler County, PA: Marcellus Shale Update
By Andrea: http://oilshalegas.com
Rexx Energy Corp. (REXX) recently released an operational update on the Marcellus Shale, located in Butler County, PA:
In Butler County, Pennsylvania, Rex Energy is currently completing the second and third Marcellus Shale horizontal wells of the six which had been drilled and awaiting completion. The company expects to have all six wells completed by early November 2010 at which time their jointly owned cryogenic gas processing facility is expected to be operational.
Rex Energy is continuing to inject chemicals in its alkali-surfactant-polymer unit in the Lawrence Field, Illinois. The company has reached injection of approximately 8% of the pore volume. This amount remains on schedule with previously provided timelines.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Rexx Energy Corp. (REXX) recently released an operational update on the Marcellus Shale, located in Butler County, PA:
In Butler County, Pennsylvania, Rex Energy is currently completing the second and third Marcellus Shale horizontal wells of the six which had been drilled and awaiting completion. The company expects to have all six wells completed by early November 2010 at which time their jointly owned cryogenic gas processing facility is expected to be operational.
Rex Energy is continuing to inject chemicals in its alkali-surfactant-polymer unit in the Lawrence Field, Illinois. The company has reached injection of approximately 8% of the pore volume. This amount remains on schedule with previously provided timelines.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, October 20, 2010
Greene County, PA - Marcellus Shale Update
By Andrea: http://oilshalegas.com
Consol Energy Inc. (CNX) recently release an update on the Marcellus Shale in Greene County, Pennsylvania:
Consol Energy Inc. (CNX), the leading diversified fuel producer in the Appalachian Basin, reported total coal production of 14.7 million tons for the quarter ended September 30, 2010. Included in the total was 1.3 million tons of low-vol coal produced by the company's Buchanan Mine.
CONSOL's Gas Division achieved record quarterly production of 35.8 Bcf for the quarter ended September 30, 2010. This was 44% higher than the 24.8 Bcf produced in last year's September quarter, and 12% higher than the 31.9 Bcf produced in the quarter ended June 30, 2010.
The Gas Division began the quarter with one horizontal rig running in Greene County, Pennsylvania and ended the quarter with three horizontal rigs operating. The original horizontal rig left its base in Greene County, in order to drill in nearby Belmont County, Ohio. Beginning at a depth of 8,450 feet, the rig encountered 200 feet of Utica Shale. The vertical well, un-stimulated, flowed 1.5 MMCF of gas in a 24-hour period.
CONSOL Energy has over 70,000 acres in and around the discovery well in Belmont County. "While most of our delineation efforts are focused on the Marcellus Shale," commented J. Brett Harvey, Chairman and CEO, "our vast acreage holdings include other zones that warrant testing, including the Utica Shale. As a result of this discovery, we will shift some of our exploration capital to this shale in 2011."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Consol Energy Inc. (CNX) recently release an update on the Marcellus Shale in Greene County, Pennsylvania:
Consol Energy Inc. (CNX), the leading diversified fuel producer in the Appalachian Basin, reported total coal production of 14.7 million tons for the quarter ended September 30, 2010. Included in the total was 1.3 million tons of low-vol coal produced by the company's Buchanan Mine.
CONSOL's Gas Division achieved record quarterly production of 35.8 Bcf for the quarter ended September 30, 2010. This was 44% higher than the 24.8 Bcf produced in last year's September quarter, and 12% higher than the 31.9 Bcf produced in the quarter ended June 30, 2010.
The Gas Division began the quarter with one horizontal rig running in Greene County, Pennsylvania and ended the quarter with three horizontal rigs operating. The original horizontal rig left its base in Greene County, in order to drill in nearby Belmont County, Ohio. Beginning at a depth of 8,450 feet, the rig encountered 200 feet of Utica Shale. The vertical well, un-stimulated, flowed 1.5 MMCF of gas in a 24-hour period.
CONSOL Energy has over 70,000 acres in and around the discovery well in Belmont County. "While most of our delineation efforts are focused on the Marcellus Shale," commented J. Brett Harvey, Chairman and CEO, "our vast acreage holdings include other zones that warrant testing, including the Utica Shale. As a result of this discovery, we will shift some of our exploration capital to this shale in 2011."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Friday, September 3, 2010
Westmoreland County, PA : Marcellus Shale update
By Andrea: http://oilshalegas.com
Westmont Resources Inc. (WMNS.ob) recently announced that they have completed an agreement that will extend Westmont's reach and resources with the acquisition of 1,800 acres and 60 existing wells in the Marcellus Shale region in the southwest tier of Pennsylvania. These 1,800 lease acres are located in Westmoreland County of Western Pennsylvania. The company estimates that the value of the leases could be roughly $36 million. Westmont feels that an additional 30 wells could be drilled on the leased acreage which would increase the potential reserves for the project by an estimated $18 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Westmont Resources Inc. (WMNS.ob) recently announced that they have completed an agreement that will extend Westmont's reach and resources with the acquisition of 1,800 acres and 60 existing wells in the Marcellus Shale region in the southwest tier of Pennsylvania. These 1,800 lease acres are located in Westmoreland County of Western Pennsylvania. The company estimates that the value of the leases could be roughly $36 million. Westmont feels that an additional 30 wells could be drilled on the leased acreage which would increase the potential reserves for the project by an estimated $18 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, September 1, 2010
Butler County, PA - Marcellus Shale Update
By Andrea: http://oilshalegas.com
Rex Energy Corp. (REX) announced recently that it will be entering into a joint venture inolving approximately 12.9 net acres of their Marcellus shale assets in Butler County, Pennsylvania:
In Butler County, Pennsylvania, Rex Energy will sell a 15% non-operated interest in 42,200 gross (41,100 net) acres to Sumitomo for approximately $61.6 million, or $10,000 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent of the purchase price to be paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs in the area. In connection with the transaction, the parties agreed to form an area of mutual interest (an "AMI") in Butler County. After the sale is completed, Rex Energy will own approximately 34,900 net acres within the Butler County AMI.
Rex Energy will act as the leasing agent in the Butler County AMI. Pursuant to the agreement, Sumitomo has agreed to pay all of the costs to lease approximately 9,000 net acres in the Butler County AMI (the "Phase I Leasing"), and will pay Rex Energy a leasing management fee of $1,000 per net acre during the Phase I Leasing. Upon the conclusion of the Phase I Leasing, Rex Energy and Sumitomo will cross assign interests in the leases to provide a uniformity of interest in each lease in the Butler County AMI. Assuming the full 9,000 net acres are leased, the final ownership percentages in the Butler County AMI would be approximately 70% Rex Energy and 30% Sumitomo, and Rex Energy's net acreage would remain at approximately 34,900 net acres in the AMI.
Rex Energy has also agreed to sell 30% of its interests in twenty Marcellus Shale wells within the Butler County area, including eleven wells in progress, for approximately $19.1 million. In addition, Rex Energy will sell 30% of its interest in Keystone Midstream Services, LLC, a mid-stream joint venture with Stonehenge Energy Resources, L.P., and its existing refrigeration plant for approximately $3.9 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Rex Energy Corp. (REX) announced recently that it will be entering into a joint venture inolving approximately 12.9 net acres of their Marcellus shale assets in Butler County, Pennsylvania:
In Butler County, Pennsylvania, Rex Energy will sell a 15% non-operated interest in 42,200 gross (41,100 net) acres to Sumitomo for approximately $61.6 million, or $10,000 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent of the purchase price to be paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs in the area. In connection with the transaction, the parties agreed to form an area of mutual interest (an "AMI") in Butler County. After the sale is completed, Rex Energy will own approximately 34,900 net acres within the Butler County AMI.
Rex Energy will act as the leasing agent in the Butler County AMI. Pursuant to the agreement, Sumitomo has agreed to pay all of the costs to lease approximately 9,000 net acres in the Butler County AMI (the "Phase I Leasing"), and will pay Rex Energy a leasing management fee of $1,000 per net acre during the Phase I Leasing. Upon the conclusion of the Phase I Leasing, Rex Energy and Sumitomo will cross assign interests in the leases to provide a uniformity of interest in each lease in the Butler County AMI. Assuming the full 9,000 net acres are leased, the final ownership percentages in the Butler County AMI would be approximately 70% Rex Energy and 30% Sumitomo, and Rex Energy's net acreage would remain at approximately 34,900 net acres in the AMI.
Rex Energy has also agreed to sell 30% of its interests in twenty Marcellus Shale wells within the Butler County area, including eleven wells in progress, for approximately $19.1 million. In addition, Rex Energy will sell 30% of its interest in Keystone Midstream Services, LLC, a mid-stream joint venture with Stonehenge Energy Resources, L.P., and its existing refrigeration plant for approximately $3.9 million.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, August 31, 2010
Westmoreland County, PA - Marcellus Shale Update
By Andrea: http://oilshalegas.com
Rex Energy Corp. (REXX) announced today that it will sell roughly 22,100 net acres in it's Marcellus shale assets, half of those acres residing in Westmoreland County, PA:
In Rex Energy's Marcellus Shale joint venture project areas operated by Williams Production Appalachia, LLC, Rex Energy will sell 20% of its interests in approximately 44,200 gross (22,100 net) acres for $35.9 million, or $8,115 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent of the purchase price being paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs in the areas. After the sale, Rex Energy will own approximately 6,700 net acres within the Westmoreland County AMI, and 11,000 net acres within the Central Pennsylvania AMI.
Additionally, Rex Energy will sell 20% of its interests in nineteen Marcellus Shale wells located in the Williams joint venture areas, including five wells in progress, for $5.7 million, and 20% of its interests in the Williams joint venture midstream assets for approximately $822,000.
Under the agreement, Rex Energy will sell 50% of its interests in approximately 4,600 net acres in Fayette and Centre Counties for $18.5 million, or $8,115 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent to be paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs. Pursuant to the agreement, the drilling carry for these areas may be applied, at Rex Energy's discretion, to drilling and completion costs attributable to either the Butler County or Williams joint venture areas. After the sale, Rex Energy will own approximately 2,300 net acres in these areas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Rex Energy Corp. (REXX) announced today that it will sell roughly 22,100 net acres in it's Marcellus shale assets, half of those acres residing in Westmoreland County, PA:
In Rex Energy's Marcellus Shale joint venture project areas operated by Williams Production Appalachia, LLC, Rex Energy will sell 20% of its interests in approximately 44,200 gross (22,100 net) acres for $35.9 million, or $8,115 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent of the purchase price being paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs in the areas. After the sale, Rex Energy will own approximately 6,700 net acres within the Westmoreland County AMI, and 11,000 net acres within the Central Pennsylvania AMI.
Additionally, Rex Energy will sell 20% of its interests in nineteen Marcellus Shale wells located in the Williams joint venture areas, including five wells in progress, for $5.7 million, and 20% of its interests in the Williams joint venture midstream assets for approximately $822,000.
Under the agreement, Rex Energy will sell 50% of its interests in approximately 4,600 net acres in Fayette and Centre Counties for $18.5 million, or $8,115 per net acre. One-half of the purchase price will be paid in cash at the time of closing, with the remaining fifty percent to be paid in the form of a drilling carry of 80% of Rex Energy's drilling and completion costs. Pursuant to the agreement, the drilling carry for these areas may be applied, at Rex Energy's discretion, to drilling and completion costs attributable to either the Butler County or Williams joint venture areas. After the sale, Rex Energy will own approximately 2,300 net acres in these areas.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Saturday, August 28, 2010
Tioga County, PA - Marcellus Shale Tax Update
By Andrea: http://oilshalegas.com
Gov. Rendell visited Tioga County, PA in the heart of the Marcellus shale on Friday, August 27 to "repeat his call for the state Legislature to enact a gas severance tax by Oct. 1." Mr. Rendell's plan is to implement a 5% levy on the value of natural gas plus an additional 4.7 cents for each 1,000 cubic feet of gas produced, very similar to the current tax in West Virginia. Marcellus gas producers in the area are not happy with the tax plan, claiming that it is too high, but Mr. Rendell states, "Pennsylvania is the 15th largest production state for natural gas, but is the only major fossil fuel producer that does not levy a tax on natural gas extraction. That's just not fair."
Mr. Rendell estimates $70 million could be generated for the state by the Marcellus Shale tax this fiscal year to help erase a $282 million deficit in the budget.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Gov. Rendell visited Tioga County, PA in the heart of the Marcellus shale on Friday, August 27 to "repeat his call for the state Legislature to enact a gas severance tax by Oct. 1." Mr. Rendell's plan is to implement a 5% levy on the value of natural gas plus an additional 4.7 cents for each 1,000 cubic feet of gas produced, very similar to the current tax in West Virginia. Marcellus gas producers in the area are not happy with the tax plan, claiming that it is too high, but Mr. Rendell states, "Pennsylvania is the 15th largest production state for natural gas, but is the only major fossil fuel producer that does not levy a tax on natural gas extraction. That's just not fair."
Mr. Rendell estimates $70 million could be generated for the state by the Marcellus Shale tax this fiscal year to help erase a $282 million deficit in the budget.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Tuesday, August 24, 2010
Potter County, PA: Marcellus shale update
By Andrea: http://oilshalegas.com
SM Energy Company (SM) announced yesterday that they will engage in either a sale or joint venture of their 43,000 acres of land in the Marcellus shale in Potter County, PA and in McKean County, PA:
SM Energy Company (NYSE: SM) announces today that it is planning to raise at least $300 to $500 million through divestitures of non-strategic assets and/or joint venture agreements over the next 12 months, including the following potential transactions.
Part of the planned activities include the potential sale or joint venture of the Company's roughly 43,000 net acre Marcellus shale position in McKean and Potter counties, Pennsylvania. Bank of America Merrill Lynch has been engaged to market these assets. SM Energy also announces today that its second Marcellus well in McKean County, the Potato Creek 3H, began producing to sales in early August at a facility constrained initial gas production rate of over 7 MMCFE/D.
The Company has also engaged Albrecht & Associates to market a package of non-core, primarily proved developed properties, with a goal of completing a transaction by the end of 2010. Current production associated with this package as it is currently configured is 13 MMCFE/D.
Tony Best, President and CEO, commented, "Our goal is to continue to refine our portfolio in a manner that optimizes value for our stockholders. A key element in support of that goal will be divesting non-strategic assets and/or entering into joint ventures to fund the development of our core resource play opportunities."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
SM Energy Company (SM) announced yesterday that they will engage in either a sale or joint venture of their 43,000 acres of land in the Marcellus shale in Potter County, PA and in McKean County, PA:
SM Energy Company (NYSE: SM) announces today that it is planning to raise at least $300 to $500 million through divestitures of non-strategic assets and/or joint venture agreements over the next 12 months, including the following potential transactions.
Part of the planned activities include the potential sale or joint venture of the Company's roughly 43,000 net acre Marcellus shale position in McKean and Potter counties, Pennsylvania. Bank of America Merrill Lynch has been engaged to market these assets. SM Energy also announces today that its second Marcellus well in McKean County, the Potato Creek 3H, began producing to sales in early August at a facility constrained initial gas production rate of over 7 MMCFE/D.
The Company has also engaged Albrecht & Associates to market a package of non-core, primarily proved developed properties, with a goal of completing a transaction by the end of 2010. Current production associated with this package as it is currently configured is 13 MMCFE/D.
Tony Best, President and CEO, commented, "Our goal is to continue to refine our portfolio in a manner that optimizes value for our stockholders. A key element in support of that goal will be divesting non-strategic assets and/or entering into joint ventures to fund the development of our core resource play opportunities."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, August 23, 2010
McKean County, PA: Marcellus shale update
By Andrea: http://oilshalegas.com
SM Energy Company (SM) announced today that they plan to raise $300-$500 Million through either the sale of or a joint venture of their 43,000 acres in the Marcellus shale located in McKean County and Potter County, Pennsylvania. SM Energy also announced today that its second Marcellus well in McKean County, the Potato Creek 3H, began producing to sales in early August at a facility constrained initial gas production rate of over 7 MMCFE/D. They plan to execute the sale and/or joint venture over the next 12 months.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
SM Energy Company (SM) announced today that they plan to raise $300-$500 Million through either the sale of or a joint venture of their 43,000 acres in the Marcellus shale located in McKean County and Potter County, Pennsylvania. SM Energy also announced today that its second Marcellus well in McKean County, the Potato Creek 3H, began producing to sales in early August at a facility constrained initial gas production rate of over 7 MMCFE/D. They plan to execute the sale and/or joint venture over the next 12 months.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Wednesday, August 18, 2010
Marcellus Shale Research Center: Penn State University
By Andrea: http://oilshalegas.com
Penn State University announced today that it will launch a new education and research program dedicated to the Marcellus Shale. The program will be dedicated to working with state agencies, elected officials, communities, landowners, industry and environmental groups to provide safe and effective ways to develop Pennsylvania's natural gas deposits.
“With the Marcellus Center for Outreach and Research we are bringing together the University’s considerable expertise in a number of areas to provide fact-based information on the Marcellus Shale, one of the largest gas fields in the world,” said Penn State President Graham Spanier. "It has become apparent that much more research and education is needed on the Marcellus."
Reports on the development of the natural gas deposits of the Marcellus Shale predict a boost to both Pennsylvania's economy and the energy reserves of the state and nation. At the same time, there are potential environmental and social impacts that must be researched and considered, Spanier said.
"Penn State has the capabilities and resources to examine all sides of this complex issue—and to do that well,” he said.
Leadership of Penn State’s Marcellus Center for Outreach and Research (MCOR) reflects the need for energy research and public outreach with Michael A. Arthur, professor of geosciences in the College of Earth and Mineral Sciences, and Thomas B. Murphy, extension educator, Penn State Cooperative Extension, serving as co-directors.
Read full story here: http://live.psu.edu/story/47867
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Penn State University announced today that it will launch a new education and research program dedicated to the Marcellus Shale. The program will be dedicated to working with state agencies, elected officials, communities, landowners, industry and environmental groups to provide safe and effective ways to develop Pennsylvania's natural gas deposits.
“With the Marcellus Center for Outreach and Research we are bringing together the University’s considerable expertise in a number of areas to provide fact-based information on the Marcellus Shale, one of the largest gas fields in the world,” said Penn State President Graham Spanier. "It has become apparent that much more research and education is needed on the Marcellus."
Reports on the development of the natural gas deposits of the Marcellus Shale predict a boost to both Pennsylvania's economy and the energy reserves of the state and nation. At the same time, there are potential environmental and social impacts that must be researched and considered, Spanier said.
"Penn State has the capabilities and resources to examine all sides of this complex issue—and to do that well,” he said.
Leadership of Penn State’s Marcellus Center for Outreach and Research (MCOR) reflects the need for energy research and public outreach with Michael A. Arthur, professor of geosciences in the College of Earth and Mineral Sciences, and Thomas B. Murphy, extension educator, Penn State Cooperative Extension, serving as co-directors.
Read full story here: http://live.psu.edu/story/47867
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Bradford County, PA - Marcellus Shale Update
By Andrea: http://oilshalegas.com
Range Resources Corp. (RRC) announced that they are combining 14,000 net acres in the Marcellus shale in Bradford County, PA with Talisman Energy Inc. (TLM) current acreage. The two companies will combine technical teams and drilling rigs in the joint acreage. Range Resources estimates that the joint venture will add $25 million to their 2010 capital spending. Talisman Energy is currently producing more than 190 million cubic feet a day from the Marcellus shale.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Range Resources Corp. (RRC) announced that they are combining 14,000 net acres in the Marcellus shale in Bradford County, PA with Talisman Energy Inc. (TLM) current acreage. The two companies will combine technical teams and drilling rigs in the joint acreage. Range Resources estimates that the joint venture will add $25 million to their 2010 capital spending. Talisman Energy is currently producing more than 190 million cubic feet a day from the Marcellus shale.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, August 16, 2010
Wayne County, PA: Marcellus Shale Update
By Andrea: http://oilshalegas.com
August 16, 2010: Despite the natural gas drilling ban imposed on Wayne County, PA, Hess Corporation (HES) has already acquired permits for roughly 6 hydraulically fractured Marcellus Shale wells in Wayne County. Hess entered a joint-development partnership with Newfield Exploration Co. (NFX) and together, they own approximately 100,000 acres in northern Wayne County, PA. They received approval in late June and July from the Susquehanna River Basin Commission and DEP to drill 3 Marcellus Shale wells in the Susquehanna watershed. The permits include Scott and Preston townships, as well as Starucca Borough. The company plans to drill horizontal natural gas wells according to the permit applications.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
August 16, 2010: Despite the natural gas drilling ban imposed on Wayne County, PA, Hess Corporation (HES) has already acquired permits for roughly 6 hydraulically fractured Marcellus Shale wells in Wayne County. Hess entered a joint-development partnership with Newfield Exploration Co. (NFX) and together, they own approximately 100,000 acres in northern Wayne County, PA. They received approval in late June and July from the Susquehanna River Basin Commission and DEP to drill 3 Marcellus Shale wells in the Susquehanna watershed. The permits include Scott and Preston townships, as well as Starucca Borough. The company plans to drill horizontal natural gas wells according to the permit applications.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, August 12, 2010
Westmoreland County, PA : Marcellus Shale update
By Andrea: http://oilshalegas.com
Rexx Energy Corp. (REXX) released an update on the Marcellus shale in Westmoreland County, Pennsylvania. In their 2Q 2010 earnings call, they announced that their most recent horizontal well in the Marcellus shale tested at an initial production rate
of 4.9 million cubic feet per day over a 24-hour period; and its two most recent wells in Butler County, Pennsylvania tested at a combined rate of 6.7 million cubic feet of gas equivalent over a 24-hour period.
Marcellus shale is proving to be a strong asset to the company: Benjamin W. Hulburt, Rex Energy's President and CEO, commented, "Our 2010 second quarter production increased 21% compared to the second quarter or 2009. Driving this growth was a 113% increase in natural gas production from the Marcellus Shale and the addition of natural gas liquids into our production mix."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Rexx Energy Corp. (REXX) released an update on the Marcellus shale in Westmoreland County, Pennsylvania. In their 2Q 2010 earnings call, they announced that their most recent horizontal well in the Marcellus shale tested at an initial production rate
of 4.9 million cubic feet per day over a 24-hour period; and its two most recent wells in Butler County, Pennsylvania tested at a combined rate of 6.7 million cubic feet of gas equivalent over a 24-hour period.
Marcellus shale is proving to be a strong asset to the company: Benjamin W. Hulburt, Rex Energy's President and CEO, commented, "Our 2010 second quarter production increased 21% compared to the second quarter or 2009. Driving this growth was a 113% increase in natural gas production from the Marcellus Shale and the addition of natural gas liquids into our production mix."
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Butler County, PA: Marcellus Shale Update
By Andrea: http://oilshalegas.com
Rex Energy Corporation (REXX) recently released an update on the Marcellus Shale in Butler County, PA:
They noted that this area of the Marcellus Shale fairway is liquid rich, resulting in a higher profit margin than the dry gas areas of the play. Additionally, due to the shallower depth and relatively consistent geology in the area, they believe this will ultimately be one of the lower cost areas to drill wells.
For the year-to-date (July 2010), they have completed four new horizontal Marcellus Shale wells in Butler County. In addition, there are five wells drilled and awaiting completion in two wells currently being drilled.
Due to significant improvement in the drilling efficiencies, Rexx Energy Corp. expects to have all of the ten wells of their previously announced plan of drilling to be completed by the time the cryogenic plant commences operations early in the fourth quarter.
For more shale updates, visit: http://blackberrystockblog.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Rex Energy Corporation (REXX) recently released an update on the Marcellus Shale in Butler County, PA:
They noted that this area of the Marcellus Shale fairway is liquid rich, resulting in a higher profit margin than the dry gas areas of the play. Additionally, due to the shallower depth and relatively consistent geology in the area, they believe this will ultimately be one of the lower cost areas to drill wells.
For the year-to-date (July 2010), they have completed four new horizontal Marcellus Shale wells in Butler County. In addition, there are five wells drilled and awaiting completion in two wells currently being drilled.
Due to significant improvement in the drilling efficiencies, Rexx Energy Corp. expects to have all of the ten wells of their previously announced plan of drilling to be completed by the time the cryogenic plant commences operations early in the fourth quarter.
For more shale updates, visit: http://blackberrystockblog.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Monday, August 9, 2010
Altoona, PA: Marcellus Shale: Blair, County, Pennsylvania
By Andrea: http://oilshalegas.com
There does not appear to be any Marcellus Shale drilling currently residing in Blair County, Pennsylvania, however; there will be a local Chamber of Commerce meeting on August 12 where executive Jason Fink, Executive Vice President of the Williamsport/Lycoming Chamber of commerce will conduct a presentation dedicated to Marcellus Shale and the impact it may have on the community in the future.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
There does not appear to be any Marcellus Shale drilling currently residing in Blair County, Pennsylvania, however; there will be a local Chamber of Commerce meeting on August 12 where executive Jason Fink, Executive Vice President of the Williamsport/Lycoming Chamber of commerce will conduct a presentation dedicated to Marcellus Shale and the impact it may have on the community in the future.
For more shale updates, visit: http://blackberrystocks.blogspot.com
For more stock updates, visit: http://daytradingstockblog.blogspot.com
Thursday, July 29, 2010
EOG Resources, Inc. (EOG) Marcellus Shale Joint Venture?
By Andrea - http://oilshalegas.com
Based on their 2010 Earnings call, EOG Resources, Inc. (EOG) is strongly considering a JV opportunity in the Marcellus Shale. While the venture is not yet a definite, CEO Marc Papa claims to have an answer by the end of the year:
"The one that's on a bit faster track is the Marcellus, and we will be looking at an organized approach to screen interested parties to look and see if we can bring someone in there. And so I would say, the Marcellus, by year end, we should have an answer as to: Are we going to do one? And if so, what are the terms?"
EOG Resources, Inc. (EOG) currently has about 230,000 net acres primarily in Pennsylvania in the Marcellus Shale, and primarily in North Western Pennsylvania in the Marcellus Shale.
For more Shale updates, visit http://blackberrystocks.blogspot.com
For more stock market news, visit http://daytradingstockblog.blogspot.com
Based on their 2010 Earnings call, EOG Resources, Inc. (EOG) is strongly considering a JV opportunity in the Marcellus Shale. While the venture is not yet a definite, CEO Marc Papa claims to have an answer by the end of the year:
"The one that's on a bit faster track is the Marcellus, and we will be looking at an organized approach to screen interested parties to look and see if we can bring someone in there. And so I would say, the Marcellus, by year end, we should have an answer as to: Are we going to do one? And if so, what are the terms?"
EOG Resources, Inc. (EOG) currently has about 230,000 net acres primarily in Pennsylvania in the Marcellus Shale, and primarily in North Western Pennsylvania in the Marcellus Shale.
For more Shale updates, visit http://blackberrystocks.blogspot.com
For more stock market news, visit http://daytradingstockblog.blogspot.com
Bradford County, PA - Marcellus Shale
By Andrea - http://oilshalegas.com
Recently, Chesapeake Energy Corporation (CHK) gave an update on the Marcellus Shale in Bradford County, PA.
Below is a list of drilling activities in Bradford County, PA
Marcellus Shale (West Virginia, Pennsylvania and New York):With approximately 1.5 million net acres, Chesapeake is the largest leasehold owner in the Marcellus Shale play that spans from northern West Virginia across much of Pennsylvania into southern New York. On its Marcellus leasehold, Chesapeake estimates it has approximately 26 tcfe of risked unproved resources and 66 tcfe of unrisked unproved resources.
During the 2010 first quarter, Chesapeake's average daily net production of 65 mmcfe in the Marcellus increased approximately 40% over the 2009 fourth quarter and approximately 815% over the 2009 first quarter. Chesapeake is currently producing approximately 100 mmcfe net per day from the Marcellus. Chesapeake is currently drilling with 24 operated rigs in the Marcellus and anticipates operating an average of approximately 31 rigs in 2010 to drill approximately 170 net wells. During the 2010 first quarter, approximately $90 million of Chesapeake's drilling costs in the Marcellus were paid for by its joint venture partner Statoil (NYSE:STO, OSE:STL). From April 2010 through 2012, 75% of Chesapeake's drilling costs in the Marcellus, or approximately $1.9 billion, will be paid for by STO.
Three notable recent wells completed by Chesapeake in the Marcellus are as follows:
- The James Barrett 2H in Bradford County, PA achieved a peak 24-hour rate of 12.7 million cubic feet of natural gas (mmcf) per day;
- The James Barrett 1H in Bradford County, PA achieved a peak 24-hour rate of 11.8 mmcf per day;
- The Strom 1H in Bradford County, PA achieved a peak 24-hour rate of 8.2 mmcf per day.
For more shale news, visit http://blackberrystocks.blogspot.com
For more stock market news, visit http://daytradingstockblog.blogspot.com
Recently, Chesapeake Energy Corporation (CHK) gave an update on the Marcellus Shale in Bradford County, PA.
Below is a list of drilling activities in Bradford County, PA
Marcellus Shale (West Virginia, Pennsylvania and New York):With approximately 1.5 million net acres, Chesapeake is the largest leasehold owner in the Marcellus Shale play that spans from northern West Virginia across much of Pennsylvania into southern New York. On its Marcellus leasehold, Chesapeake estimates it has approximately 26 tcfe of risked unproved resources and 66 tcfe of unrisked unproved resources.
During the 2010 first quarter, Chesapeake's average daily net production of 65 mmcfe in the Marcellus increased approximately 40% over the 2009 fourth quarter and approximately 815% over the 2009 first quarter. Chesapeake is currently producing approximately 100 mmcfe net per day from the Marcellus. Chesapeake is currently drilling with 24 operated rigs in the Marcellus and anticipates operating an average of approximately 31 rigs in 2010 to drill approximately 170 net wells. During the 2010 first quarter, approximately $90 million of Chesapeake's drilling costs in the Marcellus were paid for by its joint venture partner Statoil (NYSE:STO, OSE:STL). From April 2010 through 2012, 75% of Chesapeake's drilling costs in the Marcellus, or approximately $1.9 billion, will be paid for by STO.
Three notable recent wells completed by Chesapeake in the Marcellus are as follows:
- The James Barrett 2H in Bradford County, PA achieved a peak 24-hour rate of 12.7 million cubic feet of natural gas (mmcf) per day;
- The James Barrett 1H in Bradford County, PA achieved a peak 24-hour rate of 11.8 mmcf per day;
- The Strom 1H in Bradford County, PA achieved a peak 24-hour rate of 8.2 mmcf per day.
For more shale news, visit http://blackberrystocks.blogspot.com
For more stock market news, visit http://daytradingstockblog.blogspot.com
Friday, December 25, 2009
Marcellus Shale - Bradford, Tioga, Lycoming, Potter, Clinton PA
The Marcellus Shale is growing fast as we enter 2010. Natural Gas driller Ultra Petroleum Corp. (UPL) announced earlier this week that the company will be expanding in Northern Pennsylvania soon.
Ultra Petroleum Corp. (NYSE: UPL) today announced that it has signed a purchase and sale agreement to acquire approximately 80,000 (net) acres in the Pennsylvania Marcellus Shale, from a private company. Following the acquisition, Ultra Petroleum will hold approximately 250,000 net acres in this region, with the potential for 1,800 net drilling locations. Ultra Petroleum expects to pay roughly $400.0 million for the assets which will be financed using debt.
The company started 2009 with 288,000 gross (152,000 net) acres in the Marcellus. Through a combination of land acquisitions and swaps, including today’s announcement, Ultra Petroleum has added over 192,000 gross acres, nearly doubling its position to approximately 480,000 gross (250,000 net) acres. The company’s expanding core position is concentrated around Tioga, Bradford, Lycoming, Potter, Clinton and Centre counties in north central Pennsylvania.
Link - http://www.ultrapetroleum.com/pressreleases/12212009.pdf
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Ultra Petroleum Corp. (NYSE: UPL) today announced that it has signed a purchase and sale agreement to acquire approximately 80,000 (net) acres in the Pennsylvania Marcellus Shale, from a private company. Following the acquisition, Ultra Petroleum will hold approximately 250,000 net acres in this region, with the potential for 1,800 net drilling locations. Ultra Petroleum expects to pay roughly $400.0 million for the assets which will be financed using debt.
The company started 2009 with 288,000 gross (152,000 net) acres in the Marcellus. Through a combination of land acquisitions and swaps, including today’s announcement, Ultra Petroleum has added over 192,000 gross acres, nearly doubling its position to approximately 480,000 gross (250,000 net) acres. The company’s expanding core position is concentrated around Tioga, Bradford, Lycoming, Potter, Clinton and Centre counties in north central Pennsylvania.
Link - http://www.ultrapetroleum.com/pressreleases/12212009.pdf
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Friday, February 27, 2009
Marcellus Shale: Lycoming, PA 2009 SWN
Today, 2/27/09, Southwestern Energy ( SWN ) has announced that they have acquired acreage through mineral rights leasing in Pennsylvania regarding the Marcellus Shale.
In the first quarter of 2009, the company purchased approximately 21,715 net acres in Lycoming County, Pennsylvania, for approximately $8.2 million. As a result, Southwestern currently has approximately 137,000 net undeveloped acres in Pennsylvania under which it believes the Marcellus Shale is prospective.
http://www.swn.com/operations/new.ventures.asp
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
In the first quarter of 2009, the company purchased approximately 21,715 net acres in Lycoming County, Pennsylvania, for approximately $8.2 million. As a result, Southwestern currently has approximately 137,000 net undeveloped acres in Pennsylvania under which it believes the Marcellus Shale is prospective.
http://www.swn.com/operations/new.ventures.asp
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
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