Southwestern Energy Snaps Up Assets In Marcellus, Utica From Chesapeake

Chesapeake Energy continued its sell-off of gas drilling operations in the Marcellus and Utica shales Thursday with its biggest withdrawal from Appalachia.

Pennsylvania’s biggest shale gas producer agreed to sell 435 shale wells, 1,100 conventional wells and the rights to drill in more than 400,000 acres to Houston-based Southwestern Energy Co. for $5.375 billion.

“I certainly think this is consistent with what we’ve seen from Chesapeake,” said Scott Hanold, an energy analyst at RBC Capital Markets.

Read more: http://triblive.com/business/headlines/6974705-74/energy-southwestern-marcellus#ixzz3GPXRKihi
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PA Marcellus Topped 2 Trillion Cubic Feet Of Gas In 2012

English: Cropped portion of image from USGS re...

English: Cropped portion of image from USGS report showing extent of Marcellus Formation shale (in gray shading). (Photo credit: Wikipedia)

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.

Read more:  http://thetimes-tribune.com/news/pa-marcellus-topped-2-trillion-cubic-feet-of-gas-in-2012-1.1447325

Pennsylvania Counties Cashing In On Marcellus Shale Drilling Revenues

English: Cropped portion of image from USGS re...

English: Cropped portion of image from USGS report showing extent of Marcellus Formation shale (in gray shading). (Photo credit: Wikipedia)

When the state Legislature passed Act 13 in February, county and local officials across the state expressed some excitement and more than a little trepidation over whether impact fees for Marcellus Shale gas well drilling would go far enough to compensate for the disruptions and damage blamed on drilling for the valuable resource over the past five or so years.

But now, county officials are finding themselves scrambling to figure out how they will maintain human services, such as those aimed at children, the poor and elderly, in the face of a 10 to 20 percent cut in the state budget.

The impact fee?

No longer the big deal that it was a year ago in the discussion stages, many county officials say.

Read more: http://www.post-gazette.com/stories/local/neighborhoods-south/local-counties-cashing-in-on-marcellus-shale-drilling-revenues-639308/#ixzz1xDrwMu3a