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Tag Archives: natural gas production

No injuries in natural gas well fire in Denton, blaze out

DENTON, Texas — A natural gas well fire in North Texas has been put out as authorities try to determine whether lightning sparked the blaze. Denton city spokeswoman Lindsey Baker says firefighters extinguished the blaze early Friday. Nobody was hurt. Baker says authorities received word of the well fire shortly before 10 p.m. CDT Thursday. Storms were in the area ...

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API of Penn. director speaks out about severance tax study

tax

Associated Petroleum Industries of Pennsylvania’s (API-PA) Executive Director Stephanie Catarino Wissman laid out a new study that focused on the natural gas severance tax Pennsylvania Governor Tom Wolf is trying to impose. This morning, Wissman conducted a press briefings on the recent study titled “The Economic Impacts of the Proposed Natural Gas Severance Tax in Pennsylvania.”  The study was conducted ...

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Rice Energy doubles natural gas production

Rice energy

Rice Energy is boosting its expectation for how much natural gas it will extract from shale this year despite low prices that have some Marcellus companies planning to dial back their production. The Cecil-based company on Thursday outlined results from new Marcellus and Utica shale wells that analysts called impressive and helped more than double production over last year. CEO ...

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Consol Energy profit falls 35 pct on weak prices

Coal and natural gas producer Consol Energy Inc reported a 35 percent fall in quarterly profit, hurt by weak prices for both commodities. The company, which has shifted its focus to natural gas production, said its coal mining operations would continue to benefit by partnering with the power plants that will be around for many years to come. U.S. power ...

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Editorial: Natural gas severance won’t be there forever

tax

Thanks to increases in natural gas production, several counties and municipalities in West Virginia received hundreds of thousands of dollars — sometimes more than $1 million — in severance tax receipts for 2014. According to the Department of Revenue, natural gas severance tax receipts doubled last year to more than $188.3 million. Of that money, 90 percent went to the ...

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Low Marcellus gas prices cut into EQT profits

eqt

EQT Corp. produced more natural gas during the first three months of the year but lower prices resulted in decreased profits. The Downtown-based company early Thursday reported $173.4 million in net income, or $1.14 per share, in the first quarter, a nearly 9.8 percent drop from the $192.2 million, or $1.26 per share, it recorded in the same quarter last ...

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In New York state, fracking ban fuels secession talk

REPORTING FROM WINDSOR, N.Y. – From this village of dairy farms and friendly diners, Carolyn Price can see across the border into Pennsylvania, and it is a bittersweet view. The rolling hills a few miles away are as green as the ones here, and the Susquehanna River is icy and beautiful on both sides of the state line as it ...

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Chesapeake Energy cuts 2015 capital spending, will drill fewer wells

chesapeake

Chesapeake Energy Corp. is cutting its 2015 capital budget by $500 million due to low prices for natural gas and liquids. The Oklahoma-based company, the No. 1 player in Ohio’s Utica Shale, made its latest adjustment Monday. That means Chesapeake intends to spend $3.5 billion to $4 billion and to operate 25 to 35 rigs in 2015. Earlier, the company ...

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Pennsylvania looking outside for audit on shale cash

check

The Pennsylvania Department of Conservation and Natural Resources is preparing to hire an outside firm to audit the royalty payments that the agency receives from natural gas production on state lands to ensure that drilling companies’ price calculations are accurate. Acting DCNR Secretary Cindy Dunn said Monday during a budget hearing in Harrisburg by the House Appropriations Committee that the ...

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