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NEWS
June 11, 2010 | By Andrew Maykuth, INQUIRER STAFF WRITER
Pennsylvania environmental officials Friday allowed EOG Resources Inc. to resume drilling two Marcellus Shale natural gas wells, partially lifting a suspension imposed after an EOG well blew out last week in Clearfield County. The Department of Environmental Protection's order allows the Houston-based company to restart drilling operations on two sites at the Punxsutawney Hunting Club, where EOG Resources is developing several wells, agency spokesman Neil Weaver said. The site where the June 3 blowout occurred is still shut down to allow investigators and cleanup crews to finish work.
NEWS
August 1, 2012
The "Your Money" feature Tuesday incorrectly reported the holdings of EOG Resources. The company is leveraged 70 percent in oil and 30 percent in natural gas. The column "The Jersey Side" on Sunday incorrectly reported the hospital where the recently widowed Shayna Stoney's infant son, Seff, was treated. It was Virtua Memorial-Mount Holly. An obituary Saturday for the disc jockey Joe "Butterball" Tamburro incorrectly identified the person who hired him at WDAS-FM.
NEWS
June 4, 2010 | By Amy Worden, INQUIRER HARRISBURG BUREAU
HARRISBURG ? Natural gas and polluted drilling water shot out of a rural Pennsylvania well after an accident late Thursday night caused by unexpectedly high gas pressure. Department of Environmental Protection officials say no drilling water has spilled into a waterway, although the accident occurred in an environmentally sensitive area in the SB Elliott State Park in Clearfield County. Pennsylvania Emergency Management Agency officials said that the accident had been contained as of 12:15 p.m. But flights have been restricted over the area as a precautionary measure, PEMA said.
BUSINESS
June 12, 2010 | By Andrew Maykuth, Inquirer Staff Writer
Pennsylvania environmental officials Friday allowed EOG Resources Inc. to resume drilling two Marcellus Shale natural gas wells, partially lifting a suspension imposed after an EOG well blew out last week in Clearfield County. The Department of Environmental Protection's order allows the Houston company to restart drilling on two sites at the Punxsutawney Hunting Club, agency spokesman Neil Weaver said. The site where the June 3 blowout occurred is still shut down to allow investigators and cleanup crews to finish work.
NEWS
June 13, 2010
The blowout and spill at a natural-gas well in central Pennsylvania shows the need for tougher monitoring and better communication between regulators and drillers. It also shows the wisdom of a proposed severance tax on this burgeoning industry, a portion of which would pay for cleaning up hazardous sites. The accident in rural Clearfield County was bad, but it could have been much worse. No workers were hurt and no homes were damaged when the well operated by EOG Resources Inc. blew out June 3, sending a gusher of natural gas and drilling fluid 75 feet into the air. The gusher leaked for 16 hours before a containment team capped the well.
BUSINESS
June 10, 2010 | By Andrew Maykuth, Inquirer Staff Writer
CLEARFIELD, Pa. - The state's investigation into the cause of a natural gas well blowout in a rural area near here widened Wednesday, when environmental officials suspended a contractor that was working on the well when it went out of control. The Department of Environmental Protection ordered C.C. Forbes Co., a division of Forbes Energy Services of Alice, Texas, to halt any more well-completion projects in the Marcellus Shale. The DEP ordered the company to hand over equipment records and provide access to employees.
BUSINESS
February 21, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Ernie Cecilia, chief investment officer of Bryn Mawr Trust Co., says he believes stock prices will eventually have to be driven more by fundamentals than central bank stimulus, which has rocketed the market to new highs since the financial crisis. That said, what is the firm buying and selling for client portfolios? Bryn Mawr Trust, whose main office is in Bryn Mawr and now oversees $7 billion in assets, prefers "old tech" companies such as Microsoft (MSFT), which boasts a new chief executive, Satya Nadella.
BUSINESS
January 13, 2015 | By Erin E. Arvedlund, Inquirer Columnist
If you're brave enough to think oil stocks have been fairly repriced, here are some ideas on how to play the sector. First, here's an exchange-traded fund that broadly represents the energy industry: Energy Select Sector SPDR (symbol: XLE). Its top holdings include ExxonMobil, Chevron, Schlumberger, ConocoPhillips, and EOG Resources. Ernie Cecilia, chief investment officer of Bryn Mawr Trust, instead is buying shares in individual low-cost producers such as EOG and ExxonMobil, he says, as the latter company "can make money with oil even at $40 a barrel.
BUSINESS
August 7, 2010 | By Andrew Maykuth, Inquirer Staff Writer
EOG Resources Inc., the natural gas company that state environmental officials rebuked last month over a runaway well in Clearfield County, is unloading nearly a quarter of its Marcellus Shale acreage in Pennsylvania. The Houston company disclosed to investors Friday that it has put 180,000 acres of oil and gas acreage in Texas, Louisiana, and Pennsylvania up for sale. The offering includes 51,000 acres in Bradford County, the most active area in northern Pennsylvania for Marcellus drilling.
BUSINESS
December 16, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Stock market corrections usually occur in anticipation of recessions, says one local money manager and investment strategist. We're not there yet, but the present U.S. economy is entering middle age. America's economic expansions "last longer than in the past, now stretching out five to eight years," said Glenmede's president and chief investment officer, Gordon Fowler. "The unemployment rate has dropped, but it's not at a level where you begin to worry. What that tells us is the U.S. economy is still growing, earnings can continue to grow, and hence the stock market can grow," Fowler added.
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BUSINESS
January 13, 2015 | By Erin E. Arvedlund, Inquirer Columnist
If you're brave enough to think oil stocks have been fairly repriced, here are some ideas on how to play the sector. First, here's an exchange-traded fund that broadly represents the energy industry: Energy Select Sector SPDR (symbol: XLE). Its top holdings include ExxonMobil, Chevron, Schlumberger, ConocoPhillips, and EOG Resources. Ernie Cecilia, chief investment officer of Bryn Mawr Trust, instead is buying shares in individual low-cost producers such as EOG and ExxonMobil, he says, as the latter company "can make money with oil even at $40 a barrel.
BUSINESS
December 16, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Stock market corrections usually occur in anticipation of recessions, says one local money manager and investment strategist. We're not there yet, but the present U.S. economy is entering middle age. America's economic expansions "last longer than in the past, now stretching out five to eight years," said Glenmede's president and chief investment officer, Gordon Fowler. "The unemployment rate has dropped, but it's not at a level where you begin to worry. What that tells us is the U.S. economy is still growing, earnings can continue to grow, and hence the stock market can grow," Fowler added.
BUSINESS
February 21, 2014 | By Erin E. Arvedlund, Inquirer Columnist
Ernie Cecilia, chief investment officer of Bryn Mawr Trust Co., says he believes stock prices will eventually have to be driven more by fundamentals than central bank stimulus, which has rocketed the market to new highs since the financial crisis. That said, what is the firm buying and selling for client portfolios? Bryn Mawr Trust, whose main office is in Bryn Mawr and now oversees $7 billion in assets, prefers "old tech" companies such as Microsoft (MSFT), which boasts a new chief executive, Satya Nadella.
NEWS
August 1, 2012
The "Your Money" feature Tuesday incorrectly reported the holdings of EOG Resources. The company is leveraged 70 percent in oil and 30 percent in natural gas. The column "The Jersey Side" on Sunday incorrectly reported the hospital where the recently widowed Shayna Stoney's infant son, Seff, was treated. It was Virtua Memorial-Mount Holly. An obituary Saturday for the disc jockey Joe "Butterball" Tamburro incorrectly identified the person who hired him at WDAS-FM.
NEWS
May 17, 2011 | By Andrew Maykuth, INQUIRER STAFF WRITER
The Pennsylvania Department of Environmental Protection on Tuesday fined Chesapeake Energy Corp. $1.1 million for violations related to natural gas drilling activities, the largest penalty ever against a Marcellus Shale operator. Under a consent order, Chesapeake will pay $900,000 for contaminating private water supplies in Bradford County. Under a second agreement, Chesapeake will pay $188,000 for a Feb. 23 tank fire at its drilling site in Avella, Washington County. Chesapeake is the largest operator working in Pennsylvania's Marcellus Shale, a gas-rich formation that has triggered a bonanza of drilling activity in the last three years.
BUSINESS
August 7, 2010 | By Andrew Maykuth, Inquirer Staff Writer
EOG Resources Inc., the natural gas company that state environmental officials rebuked last month over a runaway well in Clearfield County, is unloading nearly a quarter of its Marcellus Shale acreage in Pennsylvania. The Houston company disclosed to investors Friday that it has put 180,000 acres of oil and gas acreage in Texas, Louisiana, and Pennsylvania up for sale. The offering includes 51,000 acres in Bradford County, the most active area in northern Pennsylvania for Marcellus drilling.
NEWS
July 18, 2010
Hefty fines were justified for the blowout of a Pennsylvania natural-gas well, but the state must do more to prevent pollution by drillers. The Department of Environmental Protection fined EOG Resources Inc. and a subcontractor $400,000 for the accident June 3 in Clearfield County that spewed natural gas, toxic chemicals, and brine for 16 hours. It's the largest penalty imposed for pollution by the state's burgeoning Marcellus Shale gas industry. DEP Secretary John Hanger correctly noted that carelessness by the drilling firms could have led to far worse consequences.
NEWS
July 14, 2010 | By Andrew Maykuth, Inquirer Staff Writer
HARRISBURG - In the heftiest fine levied thus far against a Marcellus Shale natural-gas driller, state environmental officials socked a Texas company Tuesday with a $400,000 penalty for failures that caused last month's well blowout in central Pennsylvania. John Hanger, secretary of the Pennsylvania Department of Environmental Protection (DEP), sharply rebuked EOG Resources Inc. for failing to maintain control of the Clearfield County well, which erupted June 3 and spewed natural gas and toxic wastewater for 16 hours before it could be capped.
NEWS
July 13, 2010 | By Andrew Maykuth, INQUIRER STAFF WRITER
HARRISBURG - Untrained employees of a natural-gas drilling company failed to provide sufficient controls on a Marcellus Shale well that blew out last month, and Pennsylvania environmental officials today fined the operators $400,000. John Hanger, secretary of the Pennsylvania Department of Environmental Protection, said EOG Resources Inc. and a contractor, C.C. Forbes L.L.C., had failed to follow the best industry practices at the well in Clearfield County, which erupted June 3 and spewed natural gas and toxic wastewater for 16 hours before it could be capped.
BUSINESS
July 1, 2010 | By Andrew Maykuth, Inquirer Staff Writer
Pennsylvania environmental regulators have issued nearly 565 citations against Marcellus Shale natural gas operators so far this year - about twice last year's pace. Five companies were responsible for half the violations, and nearly three-quarters of them occurred in five north-central Pennsylvania counties where shale-gas drilling is most intensely concentrated, according to a report by the Department of Environmental Protection sent Wednesday to the state Senate's Environmental Resources and Energy Committee.
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