The Pittsburgh-based energy company early Thursday announced it posted $110.9 million in net income, or 73 cents per share, during the three months that ended June 30. That’s a 27 percent increase over the $86.9 million profit on 58 cents a share it recorded in the same quarter last year.
Pennsylvania is home to the highest-producing natural-gas shale play in the United States, and Marcellus Shale wells continue to break records. During the last six months of 2013, the commonwealth produced 1.7 trillion cubic feet of gas, or an average of 9.2 billion cubic feet per day – enough to satisfy about an eighth of the nation’s daily natural-gas demand.
The continued safe and responsible development of Marcellus Shale natural gas presents a great opportunity to create new jobs and provide economic prosperity in the commonwealth.
With this prosperity, Pennsylvania is taking center stage in helping the United States achieve energy independence and reduce our need to rely on foreign energy sources. In addition to capital investments and job creation in energy, the development of the Marcellus Shale has the potential to greatly benefit Pennsylvania’s manufacturing sector, in particular the steel industry. Perhaps the single most important product used to ensure the safe development of this abundant natural resource is high-quality steel pipe.
All four Democrats running for governor want to get more revenue from natural gas drilling. But they have different plans for how to tax the extraction and what to do with the money.
All four want to raise the minimum wage, but they don’t all agree by how much.
When it comes to marijuana laws, they aren’t in lockstep either.
The May 20 primary will decide whether state environmental protection secretary Katie McGinty, state Treasurer Rob McCord, U.S. Rep. Allyson Y. Schwartz or York County businessman Tom Wolf will get the Democratic nomination for governor.
UGI Utilities will spend $4.4 million this year strengthening and extending its gas-line network in Lancaster County, the firm said Thursday.
That sum consists of $1.3 million to replace old gas mains, generally at least 50 years old, and $3.1 million to lengthen lines to serve new customers.
Pennsylvanians’ state and local tax burden reached its lowest point in more than a decade in 2011, but it still climbed to rank as the nation’s 10th most onerous, up two spots from the year before, an analysis released this week shows.
The Washington-based Tax Foundation said Pennsylvanians shelled out $4,374 per capita in state and local taxes in 2011, or 10.3 percent of their per-capita income of $42,268. About 10.5 percent of income went toward state and local taxes in 2010, the foundation said.
“This trend was largely driven by the growth of income,” said Tax Foundation economist Liz Malm, explaining the slight decline.
About 27 percent of Pennsylvanians’ tax money went to other states. Aside from sales, excise, income, corporate and other taxes paid in other states, the Tax Foundation factors what it calls tax exporting.
The price of oil extended gains above $100 a barrel Monday as the cold weather in the United States increased demand for heating fuels and solid Chinese credit numbers eased concerns over the world’s number 2 economy.
By early afternoon in Europe, benchmark U.S. crude for March delivery was up 49 cents to $100.79 a barrel in electronic trading on the New York Mercantile Exchange. On Friday, the Nymex contract fell 5 cents to close at $100.30.
The mercury hasn’t hit bottom yet.
January ranks as one of the most bitingly cold months Western Pennsylvanians can remember, though certainly not a record. A cold snap early in the month made the temperature plummet to 9 below zero near Pittsburgh International Airport with a wind chill that felt like 30 below.
“We’ve been selling a lot of winter tires. People who have decided to try and wait to see how the winter goes, I think finally pulled the trigger,” said Nick Lenhart, manager of Lenhart’s Service Center in North Huntingdon. “They realized it’s not just going to be a one and done.”
A proposed $675 million natural gas power plant on the Lancaster County-Maryland line would mean a new 9-mile gas pipeline and a 7-mile water line through southern Lancaster County.
Williams, the Tulsa-based company that would build the $80 million 20-inch Rock Springs gas line in Drumore and Fulton townships, is holding a public workshop to explain the project and receive feedback from 6-8 p.m. Wednesday at Solanco High School in Quarryville.
There will be detailed aerial maps of the proposed pipeline’s route.
There should be plenty of interest.
A decommissioned underground pipeline that once carried gasoline across the state and through Lancaster County could see new life from the Marcellus shale gas boom.
Representatives of Sunoco Inc., of Philadelphia, have recently been in West Cocalico and Clay townships doing site surveys and scouting locations for a pumping station needed as part of a statewide retrofit of the pipeline so that it can transport natural gas to a facility in Delaware.
“Mariner East 1 is a project to transport natural gas liquids (NGLs), also called liquefied petroleum gases (LPGs) from the Marcellus and Utica shales in Western Pennsylvania, Ohio and West Virginia to the Marcus Hook Industrial Complex on the Pennsylvania/Delaware border,” Sunoco representative Jeff Shields wrote in an email Nov. 20.
The Mariner East 1 project would stretch from a Sunoco facility just outside Houston, Pa., in Chartiers Township, Washington County, to its transportation hub in Marcus Hook, Delaware County, or a distance of about 300 miles.
The coal industry can be excused for thinking there’s a massive, organized, palm-rubbing effort to make its life difficult — the war on coal, in short.
It’s a “war” that’s been decades in the making, with few regulations actually originating with the Obama administration. Yet the current swarm of actions also underscores the extent to which the White House can influence which rules get written, enforced or buried by delays and litigation.
“It’s not a war on coal for warring on coal’s sake,” said David Spence, associate professor of law, politics and regulation at the University of Texas.
Rather, it’s kind of a perfect storm of actions that have been simmering for a long time.
SWIFTWATER — Gov. Tom Corbett said Monday’s announcement to extend the Route 6/11 Corridor Natural Gas Line is about creating and attracting jobs but, more important, he said it’s about retaining jobs already in Pennsylvania.
Corbett visited the campus of Sanofi Pasteur, the vaccines division of Sanofi in Monroe County, to announce the $5 million extension project, made possible in part through the recent release of a $5 million Economic Growth Initiative grant.
While Corbett said the project is expected to boost job creation and retention in the Northeast Pennsylvania region, he said by lowering utility costs to large employers such as the vaccine maker the 2,000 jobs at the Swiftwater facility — plus 500 contractor positions — are likely to stay.
To endear a hotel to the oil and gas crowd, give them a place to eat and sleep at all hours of the day, a place to wash their boots, a warm place to smoke in the winter and a cold beer once in a while.
So goes the formula developed by Tejas Gosai, president of the Washington, Pa.-based business Shale Hotel Inc. The company is managing two hotels geared toward oil and gas workers, building two others and preparing to turn the Monroeville Holiday Inn into an industry destination for workers summoned here by the Marcellus Shale, the natural gas deposit underlying much of Pennsylvania.
Mr. Gosai represents a group of four doctors, among them his father, who bought the 187-room Monroeville hotel in June. His goal is to replicate there what he has helped to do in Bentleyville — attract at least half of the guests from oil and gas fields.
The Gosais have been in the hotel business for a dozen years. Kam Gosai, a practicing physician in Washington County, co-owns the Holiday Inn Express and the Best Western Garden Inn in Bentleyville.
Soon the playground at Gring’s Mill Recreation Area will be out of the woods, literally and figuratively.
Credit goes to an issue not likely to hit Berks County directly: drilling for natural gas.
County officials recently were told they could expect a check any day for $345,000 from the impact fees gas producers pay the state. That’s on top of the $349,068 they received last year. The money must be spent for parks and recreation projects.
The money enables the county to bump up the timetable for projects identified in the parks department’s five-year plan, and avoid spending taxpayer money on them, county Commissioner Kevin S. Barnhardt said.
After dropping steadily for the past five years, natural gas prices have finally reached the point where it is no longer profitable for companies to produce the abundant clean-burning fuel.
But now the low prices, an unusually cold winter and an improving economy have prompted UGI Utilities Gas Division to request a 13.5 percent rate hike. The requested hike comes in two parts: increases of about 7.2 percent June 1 and about 5.9 percent Dec. 1.
The station, located near the T station at the edge of the Smithfield Street Bridge, is currently under construction. It will be owned by Desdemona Holdings LP and operate under the American Natural Retail brand.
Desdemona Holdings received a $372,300 grant and $248,200 loan to help complete the project. Desdemona is a wholly owned subsidiary of Cleopatra Resources LLC, a New York-based energy company with local offices near Homestead.
A timetable for completion was not given.
DUSHORE – Now that the major surgery that took place last year in the beautiful northern tier of Pennsylvania is complete, Frank Carr Jr. can tell Berks Countians what it is like to have an interstate natural gas pipeline implanted in your land.
You get paid. You see your land temporarily torn up. You have the right to object.
Ultimately, though, you may have no choice.
“To me, it just doesn’t seem right that they can come in and tell you where they are going,” said Carr, who co-owns a 500-acre dairy farm in Bradford County. “But I also know they have got to get the gas to market, and it is all a part of that.”
A project aimed at establishing a benchmark of regional residents’ health reinforced something already known — Northeastern Pennsylvania residents, generally speaking, are not very healthy.
“We wanted to create a baseline on the health of the community to use as a benchmark against future studies to see what effects, if any, and to what extent the industry will have had on the region’s health,” said Bob Durkin, president of the Cancer Institute.
Dr. Samuel Lesko, principal investigator for the survey, said a variety of issues related to “fracking” and other processes used to produce natural gas have contributed to community concerns about potential adverse health outcomes.
Each day, 300 million gallons of polluted mine water enters Pennsylvania streams and rivers, turning many of them into dead zones unable to support aquatic life. At the same time, drilling companies use up to 5 million gallons of fresh water for every natural-gas well they frack.
State environmental officials and coal region lawmakers are hoping that the state’s newest extractive industry can help clean up a giant mess left by the last one. They are encouraging drillers to use tainted coal mine water to hydraulically fracture gas wells in the Marcellus Shale formation, with the twin goals of diverting pollution from streams and rivers that now run orange with mine drainage and reducing the drillers’ reliance on fresh sources of water.
Drainage from abandoned mines is one of the state’s worst environmental headaches, impairing 5,500 miles of waterways.
Pennsylvania’s Marcellus and other shale wells produced more than 2 trillion cubic feet of natural gas in 2012, continuing a trend of production growth despite fewer drilling rigs in the field.
New production data reported by natural gas drilling companies and released by the state Department of Environmental Protection on Tuesday showed that 1.1 trillion cubic feet of gas flowed from unconventional wells in the state during the second half of 2012.
The wells produced an average of 6.2 billion cubic feet of gas per day between July and December, or enough to fulfill about 9 percent of the nation’s daily natural gas demand. The U.S. consumed about 70 billion cubic feet of natural gas per day in 2012, according to the U.S. Energy Information Administration.
Geisinger Health System said Monday that the Degenstein Foundation had awarded the money to help underwrite what it called a “large-scale, scientifically rigorous assessment” of the drilling.
Most of the money will be used for data-gathering, and some will go toward developing studies of the data. Officials said they expect other funders to come forward.
The study is to look at detailed health histories of hundreds of thousands of patients who live near wells and other facilities that are producing natural gas from the Marcellus Shale formation thousands of feet underground.