May 18, 2012 |
The collapse of natural gas prices has created a buying opportunity for Atlas Energy L.P., the Philadelphia company controlled by Edward E. Cohen's family that cashed out most of its Marcellus Shale assets for billions in 2010. Atlas Resource Partners L.P., the company's exploration and production subsidiary, on Thursday announced it is buying the Barnett Shale assets of Titan Operating L.L.C., a private company in Fort Worth, Texas, for $184 million. The leases contain 250 billion cubic feet of proven reserves and 43 producing wells on about 16,000 acres.
October 30, 2011 |
The shale-gas revolution has not served John W. Rowe's best economic interests. Nevertheless, the chief executive of Exelon Corp. has become an evangelist. Rowe, whose Chicago company owns Peco Energy Co., said in an interview Friday that before shale gas came along, Exelon made so much money generating power in high-priced electricity markets that one of his company's main concerns was "how to keep people from taking [the profits] away from us. " Fast forward three years.
April 3, 2011
John Hanger served as Pennsylvania's secretary of the Department of Environmental Protection between September 2008 and January 2011 Americans looking at the headlines over the last year must believe no good energy news exists. Stories about the Japanese nuclear crisis, the BP oil spill, skyrocketing oil prices, and the Upper Big Branch mine explosion in West Virginia have dominated the news. Add the thousands of Americans who are sickened annually by breathing pollution coming from old coal plants, and there seems no hopeful case.
November 15, 2012 |
Two years ago, Denise Dennis delivered a dramatic denunciation of Marcellus Shale natural gas development at a Philadelphia City Council hearing. She equated drilling to the tobacco industry, and said that "Pennsylvanians are the lab rats" for a massive shale gas experiment. The Philadelphia resident had a powerful story: Her family owned a historic 153-acre farm in Susquehanna County, where her ancestors were among the first freed African Americans to settle in Pennsylvania just after the Revolutionary War. She became a potent symbol in the shale gas wars.
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.
August 1, 2012 |
This might be a good time to invest in the natural-gas industry, given that the commodity is extremely cheap. If you live in or near Pennsylvania, you have heard of the Marcellus Shale natural-gas discovery, which some have considered to be the Saudi Arabia of natural gas. That boom is highlighting how money can be made in this source of energy. But trading in natural gas itself isn't the way to go; commodity markets are highly volatile and can swing wildly in price, as much as 50 percent in a few days.
December 13, 2011 |
LAWMAKERS in Harrisburg will soon decide whether they are interested in taking an affirmative step and making a real investment in our roads, bridges and mass transit using funds from natural-gas extraction. This can happen only if the Marcellus Shale fee legislation now poised for action in both the Senate and House is changed to generate more fee revenue from shale drillers. If that occurs, the shale fee can serve as a catalyst for rebuilding our infrastructure and creating jobs. What we now need is leadership to make this new energy source work for all Pennsylvania.
April 21, 2011
Dow Chemical Co. plans to build its first ethylene production plant in the country since 1995 to take advantage of increasing shale-gas supplies. The plant will be built on the Gulf Coast and will get ethane and propane from producers in Texas and the Marcellus shale-gas regions. Dow and Range Resources Corp. have a preliminary accord to supply ethane from the Marcellus region in southwest Pennsylvania to Dow's Gulf Coast operations. - Bloomberg News
September 7, 2011 |
A WHO'S WHO of Pennsylvania's emergent natural-gas industry will meet in Philadelphia today and tomorrow to talk about a shale-gas boom that supporters say has boosted domestic energy supplies while creating tens of thousands of jobs. Drilling opponents, meanwhile, are planning a rival event. An industry trade group, the Marcellus Shale Coalition, expects 1,600 attendees at its inaugural Shale Gas Insight conference at the Pennsylvania Convention Center. The sold-out event will include presentations by the CEOs of several major drilling companies, as well as speeches by Gov. Corbett and his two immediate predecessors, Ed Rendell and Tom Ridge, all of whom have been supporters of an industry that's grown exponentially since the first successful Marcellus well was drilled in Pennsylvania in 2004.
January 23, 2012
The Energy Department on Monday cut its estimate for the amount of natural gas stored in the Marcellus Shale to 141 trillion cubic feet (TCF) from 410 TCF in last year's Annual Energy Outlook. The Energy Information Administration had promised last year to revise its estimate after the U.S. Geological Survey in August estimated the Appalachian formation contained 84 TCF. Though the U.S.G.S. estimate represented a dramatic increase from its 2002 estimate of 2 TCF, the big difference between its estimate and the Energy Department's projection caused an uproar over claims that shale-gas supporters were exaggerating its potential.