April 13, 2014 |
Cabot Oil & Gas Corp., one of the state's most prolific Marcellus Shale natural gas producers, is giving $2.5 million to Lackawanna College in Scranton to boost its School of Petroleum and Natural Gas. The gift is the largest single private donation in the history of the two-year college. Lackawanna College established the school in 2009 in the Susquehanna County borough of New Milford, near the heart of Cabot's drilling activity. "Our partnership with Cabot enhances tremendously the ability of the School of Petroleum and Natural Gas to provide a world-class education designed to prepare a ready workforce that fits the needs of the multiple companies across the industry," Mark Volk, the college's president, said in a statement.
February 24, 2013 |
Strong earnings from big U.S. companies pushed the Dow Jones industrial average to a rare triple-digit gain Friday, but the S&P 500 index still posted its first weekly loss of the year. Hewlett-Packard had the biggest gain in the Dow and the Standard & Poor's 500 index. It posted fiscal first-quarter earnings late Thursday that beat all forecasts, a relief after months of bad news for the computer maker. H-P rose $2.10, or 12.3 percent, to $19.20. Cabot Oil & Gas Corp. was the S&P 500's second-best performer, jumping a day after reporting earnings that beat analysts' expectations.
August 27, 2012 |
DIMOCK, Pa. - More than three years after residents in this Susquehanna County town complained that Marcellus Shale natural gas development polluted their private water wells, the lawsuits are getting settled, the activists are going away, and gas drilling is set to resume. But the battle scars are unhealed in Dimock, whose name has become synonymous with hydraulic fracturing - fracking. The rush to drill struck a deep reservoir of hostility. Residents who support or oppose shale-gas development complain that their neighbors are looking for a quick payday, either from gas-drilling royalties or a legal settlement.
August 16, 2012
In the Region Dimock residents near settlement Residents of Dimock Township in northeastern Pennsylvania, who say their well water was poisoned by a gas driller, are nearing a settlement of their long-running and highly contentious federal lawsuit. Court documents filed this week indicate that the residents have agreed to a confidential settlement with Houston-based Cabot Oil & Gas Corp. Dimock became a flashpoint in the national debate over gas drilling and a technique called hydraulic fracturing, or fracking, after residents claimed in 2009 that Cabot polluted their water supply with methane gas and toxic chemicals and made some of them violently ill. Cabot denied responsibility.
August 16, 2012 |
RESIDENTS of a northeastern Pennsylvania town who say that their well water was poisoned by a gas driller are nearing a settlement of their long-running and highly contentious federal lawsuit. Court documents filed this week indicate that residents in the tiny community of Dimock Township have agreed to a confidential settlement with Houston-based Cabot Oil & Gas Corp. Dimock became a flashpoint in the national debate over gas drilling and a technique called hydraulic fracturing, or fracking, after residents claimed in 2009 that Cabot polluted their water supply with methane gas and toxic chemicals and made some of them violently ill. Cabot denied responsibility.
August 8, 2012 |
NEW YORK - It was a day of milestones for the stock market. Stronger corporate earnings reports and expectations that central banks will act to support the economy powered the Standard & Poor's 500 index past 1,400 for the first time in three months. The index rose 7.12 points to close at 1,401.35 on Tuesday. Energy stocks increased the most of the 10 industry groups tracked by the index. The Nasdaq composite index marked a milestone of its own: the first close above 3,000 since early May. The Nasdaq rose 25.95 points to 3,015.86.
February 1, 2012 |
In the latest salvo over Marcellus Shale gas drilling in the embattled town of Dimock, a natural gas company on Tuesday alleged that federal regulators had cherry-picked old test data to distort the amount of contamination in drinking-water wells. Cabot Oil & Gas Co., whose drilling was blamed for the pollution, said that the drinking-water tests the Environmental Protection Agency used to justify its Jan. 19 order to deliver fresh water supplies to four Dimock houses "do not accurately represent the water quality" and are inconsistent with the body of data collected at the residences.
June 29, 2011 |
Penn Virginia Corp. of Radnor on Tuesday reported disappointing production rates on its first three horizontal Marcellus Shale natural gas wells. "The Marcellus Shale test wells had initial production rates which fell short of our expectations," H. Baird Whitehead, the company's chief executive, said in a statement. The test wells in the central part of Penn Virginia's 35,000-acre position in Potter and Tioga Counties are expected to be connected to pipelines in August, when natural gas sales will begin.
May 18, 2011 |
Pennsylvania regulators on Tuesday fined Chesapeake Energy Corp. $1.1 million for natural gas drilling violations, the largest penalty ever in the state's rapidly expanding Marcellus Shale bonanza. Under a consent order signed Monday with the Pennsylvania Department of Environmental Protection, Chesapeake will pay $900,000 for contaminating the private water supplies of 16 residences in Bradford County in northern Pennsylvania. Chesapeake, the largest Marcellus Shale operator, will also pay a $188,000 fine for a Feb. 23 fire at its drilling site in Avella, Washington County, in southwestern Pennsylvania.
October 24, 2010 |
Gov. Rendell called it quits last week on his yearlong effort to enact a Marcellus Shale natural gas tax. But Rendell was not the only loser in the tax debate. The natural gas industry survived Rendell's effort to enact a severance tax on gas production, but its image has been badly battered by a confluence of negative publicity, starting with the tax debate and magnified by the BP oil spill in the Gulf of Mexico. "As an industry, we're just doing a horrible job on communication until recently," said Matt Pitzarella, spokesman for Range Resources Corp.