Drilling activity in the Marcellus Shale has died down but is still out there. The recent drop in natural gas prices have put pressure on profit margins. Below is a Marcellus Shale update for 5/18/09
ENTRY INTO MARCELLUS AND DEEP TEST WELL COMPLETED IN NEW YORK
UNBRIDLED ENERGY CORP ( UNEFF ) announces it has successfully drilled the stratigraphic test well on its Chautauqua Lake acreage in western New York. The well was drilled, cored and logged to a total depth of 7,300’ as planned.
This well, drilled in conjunction with New York State Energy Research and Development Authority (NYSERDA) was an effort to test the potential of several deep horizons in the area. The exact well location was determined using 2-D seismic. The data from the logs and core is currently being evaluated.
http://www.unbridledenergy.com/news/article.aspx?id=92
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Showing posts with label marcellus shale news. Show all posts
Showing posts with label marcellus shale news. Show all posts
Saturday, May 16, 2009
Friday, January 30, 2009
Recycling Frac Water - Marcellus Shale PA
As you know, Pennsylvania has really cracked down on companies who are drilling in the Marcellus Shale as they do not want to contaminate the environment from the result of bad drilling practices.
One company, Equitable Resources ( EQT ), is starting a project to recycle frac water located in the Marcellus Shale. Equitable hopes to have this project done by the third quarter of 2009.
What is frac water? There are many different way to drill a natural gas shale well. The most common way it to blast a fresh water/sand combination at the shale it self in order to fracture it. Once this process is completed, the water becomes contaminated. It must be pumped back out and stored. To prevent a potential water shortage, Equitable is trying to recycle the water so it can be used over again.
( From Seeking Alpha ) - And then the last question is with the change in the administration and Congress, we are hearing some noise about on the environmental issues, water, and even possible making some noise about regulating fracture stimulation. Any thoughts on that?
Unidentified Company Representative
Well, yes, I’ll save the obvious ones, but what we are going to do, and I mentioned this a few times on the road recently, is we are in the process of building a recycling plant for Marcellus, water handling, we hope it will be up in the third quarter, or maybe a little earlier during this year. We are going to try to recycle that water.
Now that doesn’t address, which is the one concern that some people have that we are hurting the aquifer with salt water from the cracks. I hope adults will finally come to the conclusion that we've been doing that for 70 years now, and haven't damaged any aquifer, but forget about all that, we are trying to recycle as much of that frac water as we possibly can.
And, you know, drill more wells from the same pad so that you can reuse the water. We are going to do pan drilling, it is going to help in the Marcellus, recycling is going to help in the Marcellus, but we are focusing more of our attention on the disposal of the water, rather than the acquisition of the water.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
One company, Equitable Resources ( EQT ), is starting a project to recycle frac water located in the Marcellus Shale. Equitable hopes to have this project done by the third quarter of 2009.
What is frac water? There are many different way to drill a natural gas shale well. The most common way it to blast a fresh water/sand combination at the shale it self in order to fracture it. Once this process is completed, the water becomes contaminated. It must be pumped back out and stored. To prevent a potential water shortage, Equitable is trying to recycle the water so it can be used over again.
( From Seeking Alpha ) - And then the last question is with the change in the administration and Congress, we are hearing some noise about on the environmental issues, water, and even possible making some noise about regulating fracture stimulation. Any thoughts on that?
Unidentified Company Representative
Well, yes, I’ll save the obvious ones, but what we are going to do, and I mentioned this a few times on the road recently, is we are in the process of building a recycling plant for Marcellus, water handling, we hope it will be up in the third quarter, or maybe a little earlier during this year. We are going to try to recycle that water.
Now that doesn’t address, which is the one concern that some people have that we are hurting the aquifer with salt water from the cracks. I hope adults will finally come to the conclusion that we've been doing that for 70 years now, and haven't damaged any aquifer, but forget about all that, we are trying to recycle as much of that frac water as we possibly can.
And, you know, drill more wells from the same pad so that you can reuse the water. We are going to do pan drilling, it is going to help in the Marcellus, recycling is going to help in the Marcellus, but we are focusing more of our attention on the disposal of the water, rather than the acquisition of the water.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Wednesday, January 28, 2009
Marcellus Shale: MarkWest Energy MWE 2009
Yesterday, 1/27/09, Mark West Energy ( MWE ) stock exploded higher due to a dividend and the following news related to the Marcellus Shale.
2009—MarkWest Energy Partners, L.P. (NYSE: MWE) and NGP Midstream & Resources, L.P. (M&R) today announced an agreement to form a joint venture dedicated to the construction and operation of natural gas midstream services to support producer customers in the Marcellus Shale.
Under the terms of the joint venture, which will be owned 60 percent by MarkWest and 40
percent by M&R, MarkWest will operate the facilities and will contribute approximately $100 million of existing Marcellus Shale assets to the joint venture. M&R will invest the next $200 million of capital, which approximates the capital required to fund the Marcellus project in 2009. Capital funding for 2010 and 2011 will be driven by producer drilling programs. In order to achieve the 60 / 40 capital structure MarkWest will invest approximately $200 million in incremental capital by the end of 2011 in accordance with the joint venture agreement.
The Marcellus Shale continues to develop into one of the most prolific and economic natural gas shale plays in the United States. MarkWest has established a leading position in providing midstream services in the Marcellus Shale, including the recent development of gathering and processing infrastructure for Range Resources in southwest Pennsylvania. By the end of 2009, MarkWest and M&R expect the joint venture to be capable of processing up to 240 million cubic feet per day of gas for Range and other producers.
“M&R will be an excellent partner in our Marcellus project,” said Frank Semple, Chairman, President and Chief Executive Officer of MarkWest Energy Partners. “M&R has a strong appreciation for the long-term strategic value of the Marcellus play and shares our vision of delivering best-of-class midstream services to producer customers, including our significant relationship with Range Resources. The structure of the joint venture will allow MarkWest to achieve its long-term objectives in the Marcellus while significantly reducing capital requirements over the next several years, which is a critical component of our balance sheet and liquidity objectives. The experience and expertise of MarkWest and M&R are very complementary and we look forward to a long-term business relationship.”
http://www.markwest.com/files/MWE/MWE%20M&R%20JV%20FINAL.pdf
http://blackberrystocks.blogspot.com/
2009—MarkWest Energy Partners, L.P. (NYSE: MWE) and NGP Midstream & Resources, L.P. (M&R) today announced an agreement to form a joint venture dedicated to the construction and operation of natural gas midstream services to support producer customers in the Marcellus Shale.
Under the terms of the joint venture, which will be owned 60 percent by MarkWest and 40
percent by M&R, MarkWest will operate the facilities and will contribute approximately $100 million of existing Marcellus Shale assets to the joint venture. M&R will invest the next $200 million of capital, which approximates the capital required to fund the Marcellus project in 2009. Capital funding for 2010 and 2011 will be driven by producer drilling programs. In order to achieve the 60 / 40 capital structure MarkWest will invest approximately $200 million in incremental capital by the end of 2011 in accordance with the joint venture agreement.
The Marcellus Shale continues to develop into one of the most prolific and economic natural gas shale plays in the United States. MarkWest has established a leading position in providing midstream services in the Marcellus Shale, including the recent development of gathering and processing infrastructure for Range Resources in southwest Pennsylvania. By the end of 2009, MarkWest and M&R expect the joint venture to be capable of processing up to 240 million cubic feet per day of gas for Range and other producers.
“M&R will be an excellent partner in our Marcellus project,” said Frank Semple, Chairman, President and Chief Executive Officer of MarkWest Energy Partners. “M&R has a strong appreciation for the long-term strategic value of the Marcellus play and shares our vision of delivering best-of-class midstream services to producer customers, including our significant relationship with Range Resources. The structure of the joint venture will allow MarkWest to achieve its long-term objectives in the Marcellus while significantly reducing capital requirements over the next several years, which is a critical component of our balance sheet and liquidity objectives. The experience and expertise of MarkWest and M&R are very complementary and we look forward to a long-term business relationship.”
http://www.markwest.com/files/MWE/MWE%20M&R%20JV%20FINAL.pdf
http://blackberrystocks.blogspot.com/
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