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Tag Archives: chesapeake

In gas drilling country, the honeymoon is over on royalties

gas drilling, royalties, Marcellus

WYALUSING, Pa. (AP) — Jan Brown pores over his royalty statement and wonders where all the money went. A few months ago, the nation’s second-largest natural gas producer siphoned $2,201 worth of gas from his 240-acre property — but paid him only $359 after taking deductions for transportation and processing. Brown, 59, who relies on the royalties as his sole ...

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Energy sector movers, losers, and news: Oil reaches 12-year low


This week oil is down at $28.95 per barrel from 30.89 last Friday, February 5th, a 6.7 percent change. Oil reached $26.21 Thursday, February 11 which is the lowest oil has been since 2003. CNN reports Janet Yellen, Chair of the US Federal Reserve, acknowledged the global economy challenges, but that the central bank will still move to gradually raise ...

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Marcellus: Methane and water do not mix

water well

According to state environmental regulators, three natural gas drilling companies have found out the hard way as to what happens when methane and drinking water mix together. Regulators shared that the three companies together contaminated 17 different drinking water wells in Bradford, Lycoming and Tioga Counties in north central Pennsylvania.  Combined, the companies so far have paid nearly $375,000 in ...

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Employees in well-known oil and gas companies rake in big profits

Often times, employees cost companies a lot of money. Their benefits are so expensive. Someone gets diagnosed with cancer. A female employee is pregnant. Life is just too darn expensive. It interferes with the company’s bottom line. However, is this ever not the case? In the end, aren’t employees making their employers money? Yes, they are.  When it comes to ...

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Utica: Drillers take hits from stock prices


Thanks to low commodity prices, drillers and investors in the oil and gas industry have taken several negative hits, and those hits are certainly visible when it comes to drillers in the Utica Shale formation. On Friday during a second-quarter earnings call, Magnum Hunter Resources Corp. CEO Gary Evans explained that there is a dramatic prices difference in oil and ...

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1,400 Eagle Ford wells drilled, but uncompleted, IHS says

Just because the market is down doesn’t mean companies operating in the Eagle Ford are giving up their leasing agreements or abandoning their assets. According to a new analysis from the IHS, almost 1,400 wells in the South Texas fields have been drilled but not completed (DUC). Oil production businesses are trying their best to deal with a slumping market. ...

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Canonsburg company finds niche in shale drilling for treating wastewater


The way Aquatech figures, it makes more sense to treat shale gas wastewater where its born — at the well — than to treat it off-site. The Canonsburg-based company treats and recycles industrial wastewater with a growing division dedicated to water-intensive shale gas drilling operations. “We feel if you can reuse the water, that’s the cheapest mode of disposal,” said ...

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Marcellus players looking long-term

If there’s a notion out there of wildcatters hopping from town to town, striking it rich on an oil and gas well and moving on to the next great thing, it isn’t so today. Not with shale. This, companies say, is a long-term game. It has to be so for the economics to make sense, as companies struggle with low ...

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Nabors Industries slides after Pamplona fund sells stake

Caroline Valetkevitch | Reuters NEW YORK – Nabors Industries was the biggest percentage decliner on the S&P 500 Thursday after Pamplona Capital Management LLP said its private equity fund had sold a stake of about 8.5 percent in the oilfield services provider. Pamplona Capital is Nabors’ largest shareholder, according to Thomson Reuters data. Nabors Industries shares were down 2.7 percent ...

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Arlington has reached tentative deal with Chesapeake on royalties

Max B. Baker | The Fort Worth Star-Telegram The city of Arlington appears to have reached a proposed settlement of a lawsuit it filed against Chesapeake Energy that accused the gas-drilling giant of improperly calculating royalties for natural gas being pumped from under 1,900 acres of public land. The Arlington City Council is scheduled to approve the proposed settlement with Oklahoma ...

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