PA Marcellus News Digest February 24, 2012
Releases
Tobin Map Data Expands Offering, Adding Latest Lease Activity
Market Watch
Feb. 24
DENVER, -- Tobin Map Data from P2 Energy Solutions is expanding to include a new analytical layer, Lease Activity. The Tobin data expansion offers a visual representation of the most current leasing activity available in new geographic regions such as the Marcellus Shale, the Utica Shale, and the Niobrara Shale. Available through Tobin Online, and the newly released Tobin Insight, subscribers have instant access to the latest leasing activity in their area of interest.
Link: http://www.marketwatch.com/story/tobinr-map-data-expands-offering-adding-latest-lease-activity-2012-02-24
Superior Energy Services sees 1st-quarter profit below estimates
Reuters
Feb. 24
Oilfield services provider Superior Energy Services (SPN.N) forecast first-quarter profit below analysts' estimates, hurt by charges related to its acquisition of Complete Production Services CPX.N and weak natural gas drilling.
Link: http://www.reuters.com/article/2012/02/24/us-superiorenergy-idUSTRE81N1EA20120224
Despite planned producer cuts, Williams remains bullish on Marcellus
Wallaby
Platts
Feb. 23
Houston- Despite plans by producers to reduce production from the dry-gas portions of the Marcellus Shale, Williams executives Thursday said the company is banking on supply growth from the area as one of the cornerstones of its business over the next few years.
In an earnings calls for both Williams and Williams Partners, CEO Alan Armstrong said the Oklahoma City-based firm is "very bullish" on continued development in both the dry northeast Pennsylvania region and the more liquids-rich areas in western Pennsylvania.
Link: http://wallaby.telicon.com/PA/library/2012/2012022490.HTM
Fawn residents want gas well law amended
Tribune-Review
George Guido
Feb. 24
With House Bill 1950 soon to become law, many who are concerned about the effects of Marcellus shale natural gas drilling want to see the law tweaked.
More than 70 residents jammed a small Sunday School room at Center United Methodist Church on Thursday night to express concern -- and, in some cases, outrage -- about the new state law that sets impact fees for drillers but virtually does away with local municipal restrictions on drilling sites.
Link: http://www.pittsburghlive.com/x/valleynewsdispatch/s_783332.html
Articles
N. Alaska May Hold 80T Cubic Feet of Shale Gas
Bloomberg
Katarzyna Klimasinska
Feb. 24
Alaska’s North Slope shales may hold as much as 80 trillion cubic feet of gas, or more than half the highest estimate for the Marcellus formation, and as much as 2 billion barrels of oil, the U.S. Geological Survey said.
Link: http://www.bloomberg.com/news/2012-02-24/n-alaska-may-hold-80t-cubic-feet-of-shale-gas.html
Marcellus Shale employees earn $30,000 more than Pa. workers
The Rocket
Slippery Rock University student newspaper
Jonathan Janasik
Feb. 23
SRU's College of Business, Information and Social Sciences held an assembly in the ATS auditorium Tuesday at common hour, about the developing natural gas industry from the Marcellus Shale.
Joy Ruff, the economic development community outreach manager for the Marcellus Shale Coalition, came to SRU to give a presentation about the economics associated with shale gas development.
Link: http://www.theonlinerocket.com/news/marcellus-shale-employees-earn-30-000-more-than-pa-workers-1.2794581?MMode=true#.T0gAdoc1-So
Drilling feeds Washington County's development boom
Tribune-Review
Rachel Weaver
Feb. 24
Washington County commissioners and business owners coined a term for Western Pennsylvania's Marcellus shale epicenter: "Job Land."
"We are the model all of Southwestern Pennsylvania is trying to emulate," Commissioner Larry Maggi told elected officials and business leaders gathered at Southpointe on Thursday.
Link: http://www.pittsburghlive.com/x/pittsburghtrib/news/regional/s_783285.html
From the Mines to the Marcellus Shale
WBNG
Bryan Mercer
Feb. 23
(video included)
In the Twin Tiers we've heard much about the concern over chemicals used for hydro-fracking, but do you know much about the sand?
This sand has properties capable of handling the rush of millions of gallons of water shooting through the ground during the fracking process.
Link: http://www.wbng.com/news/local/From-The-Mines-to-the-Marcellus-Shale-140228833.html
New law tightens state oversight of natural gas pipeline
Before signature, PA was one of only two states to not have the law.
Morning Call
John L. Micek
Feb. 23
(video included)
HARRISBURG _ Gov. Tom Corbett gave his ceremonial signature Thursday to a a new that proponents say will give the state increased oversight of the miles of natural gas pipeline snaking across Pennsylvania and through the booming Marcellus shale region.
Link: http://www.mcall.com/news/local/mc-pa-pipeline-safety-20120223,0,5782191.story
Commissioners: Gas impact fee limits control
Board slams restrictions on zoning
The Express
Jim Runkle
Feb. 24
LOCK HAVEN - It looks like the Marcellus Shale natural gas industry "impact fee" represents a slippery slope, both in terms of financial reward and potential damage to the environment and local control of zoning.
Link: http://www.lockhaven.com/page/content.detail/id/537221/Commissioners--Gas-impact-fee-limits-control.html?nav=5009
McLinko discusses view on impact fee
Daily Review
James Loewenstein
Feb. 24
TOWANDA - Within 50 days, Bradford County Commissioner Doug McLinko will have to make what he calls an "historic" decision.
The Bradford County commissioners have to decide whether the county should adopt an impact fee on Marcellus Shale drilling, and, since Bradford County Commissioners Mark Smith and Daryl Miller differ from each other on whether the fee should be imposed, McLinko holds the third, deciding vote.
Link: http://thedailyreview.com/news/mclinko-discusses-view-on-impact-fee-1.1276189
Assessing the Marcellus Well Impact Fee
Wallaby
The Allegheny Institute
Frank Gamrat, Ph.D., Sr. Research Assoc.
Jake Haulk, Ph.D., President
Feb. 24
Recently, Governor Corbett signed the long awaited bill that imposes fees on Marcellus gas wells. The legislation, known as Act 13, gives counties where unconventional (horizontal) gas wells have been drilled into the Marcellus Shale formation the right to impose an impact fee on such wells. There are many issues surrounding the new fee. This Brief will address three of the most important; namely, the schedule of the new fees per well, what effects on drilling and gas production the fee might have, and how the revenue will be distributed.
Link: http://wallaby.telicon.com/PA/library/2012/2012022484.HTM
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