Tuesday, July 17, 2012

PA Marcellus News Digest 7/17/12

PA Marcellus News Digest
July 17, 2012


Penn Virginia to sell Appalachian assets for $100M
Warket Watch
July 17
Penn Virginia Corp. PVA +0.29%  agreed to sell all of its Appalachian assets, excluding the Marcellus Shale, to an undisclosed buyer for $100 million in cash to help fund its 2012 capital expenditure plan.


Confused reaction to study on Marcellus Shale water quality
Daily News
July 17
LAST WEEK, DUKE University released a study on water quality in the Marcellus Shale region. Many Pennsylvanians concerned about the state's new industry of gas drilling will be interested in the findings of this study.

Shale support company acts as Romney stage
Pitt Trib
Salena Zito
July 16
[...]Then, the natural gas boom began here, bringing not only drillers eager to tap the bounty in the Marcellus shale but support companies such as Horizontal Wireline Services of North Huntingdon.
The Westmoreland County company, which Sites started in 2010, runs wires into gas and oil wells to help with extraction.
On Tuesday, it will serve as the backdrop for presumptive Republican presidential nominee Mitt Romney’s latest visit to Western Pennsylvania. Before a fundraiser Downtown, the former Massachusetts governor will speak about growing middle class jobs and the energy industry at a rally at Horizontal Wireline Services.

Special treatment: How did two counties rate a ban on gas drilling?
July 15
The more details that emerge, the more the whole thing stinks.
Republicans in charge of state government -- in the governor's office and the Legislature -- sold the notion early on that Pennsylvania must take a uniform approach to Marcellus Shale gas drilling.

UPDATE 1-Natgas drillers' water use cut due to Pennsylvania drought
Jeanine Prezioso
July 17
NEW YORK, July 16 (Reuters) - Natural gas drillers in Pennsylvania have had to stop withdrawing water from certain streams due to a severe drought, a water regulator said on Monday.

West Virginia Hangs On To Ethane Cracker Hopes
State Impact
Scott Detrow
July 17

Consol Energy Issues 2Q Update
Analyst Blog
July 17
Diversified fuel producer, Consol Energy Inc , ( CNX ) gave an insight into its operational results for the second quarter of 2012. Consol's Gas Division recorded production growth of roughly 10% to 37.3 billion cubic feet (Bcf) from 34.0 Bcf produced in the year-ago period. The coal division produced 14.6 million tons during the quarter, which includes 1.1 million tons of low volatile metallurgical coal. The company, which functions primarily in Eastern United States made significant progress in safety measures across its various business units.

Tour de Frack Bicyclists Coming to Maryland
Baltimore Magazine
Ron Cassie
July 17
The well-timed and well-acronymed Tour de Frack, a two-week bike tour launched from Butler, Pa. (45 miles north of Pittsburgh) passes through Maryland this week before arriving in Washington D.C.

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