GAS AND OIL
|
DEP approved the permit to Drill at CABOT on December 03, 2007 |
|||||||||||||||||||||||||||||
Future of Gas LeasingWith great interest in natural gas exploration in this region, the Sun-Gazette community newspaper serving all of North Central Pennsylvania has compiled links to published articles, frequently asked questions, events and other websites containing information about natural gas drilling.
|
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
Court says gas wells regulated by state |
|||||||||||||||||||||||||||||
|
Gas and Oil 2007 |
||||||||||||||||||||||||||||
Drilling companies sue Nockamixon |
|||||||||||||||||||||||||||||
Benton News for Friday, March 28, 2008It is very interesting to watch the race to sign up landowners for gas-drilling rights in the vicinity of the Marcellus as the race from southwestern New York State into Pennsylvania, Ohio and West Virginia intensifies. The need for clean-burning gas is evident! We all want someone to find natural gas on our property, but none of us want to get skizzled in the signing of contracts whereby that can occur. We all know, however, that unless we sign, we'll likely never participate in the rich rewards that are certain to fall in place in the coming months. The names commonly mentioned in the gas-drilling business in the local area have all employed a strategy of acquiring properties on the cheap, sinking a well in a location that appears to make sense to a geologist and then rapidly head toward production. This strategy serves the companies well and should result in some impressive production growth over the next few years. One name commonly heard locally is Chesapeake Energy Corp., who yesterday announced its intention to sell 20 million shares to repay existing debt as the company prepares to spend an additional $275 million in 2008 and $675 million in 2009 on drilling and land leases. Over the years, drilling opportunities have resulted in the need to explore unconventional reserves with low-geological risk. Extracting the gas is the real challenge. As soon as a company can perfect an effective drilling and well-completion technique, literally thousands of well can be drilled in the same area with near 100% success rates. The challenge remains to find the most effective drilling and completion technique to exploit the projects of a company. The leasing of gas-drilling land in the Marcellus Shales could prove to be very attractive to both landowner, speculator and driller. Frankly, the end result is anyone's guess at this point. Certainly the landowners don't know where the best acreage is or where the gas-drillers are plunking down their money, except in general terms. The companies are very tight-lipped about how much a well costs, about production rates, what they are paying to other landowners, etc., as drillers and their agents race to get all the land they can under contract. As a result, it is difficult for a landowner to determine what is a fair-market value for his land and probably equally difficult for the well-drillers to determine what the value of the land acquired is really worth. Since December of last year, natural-gas prices have escalated by a third from the $15 an acre of two years ago to the $250 an acre as recently as the last month, to the $1,500 of two weeks ago in Williamsport, to the latest reports of $2,000 an acre. This is one whole heck of a lot of money to be infusing into farm communities. With these prices, the formation known as the Marcellus Shale makes sense for the first time in history. The shale has been estimated to hold 3.7 trillion cubic feet of recoverable fuel--enough to supply somewhere between the annual needs of as many as 51 million households to more than two years of U.S. consumption. If figures like these are achieved, Pennsylvania would go "back on the map" in the gas-starved United States than having to "dig" for it. Many questions remain about the future of drilling in our area. One area of concern is in the fracturing of wells, where millions of gallons of water or other fluids are injected underground in an effect somewhat akin to a small earthquake. Much of what is injected underground--something like 70%--is retrieved, and the balance of toxic chemicals are allowed to evaporate or disperse into surface water.
|
|||||||||||||||||||||||||||||
|
Click on
http://www.dep.state.pa.us/enotice and login to DEP e-NOTICE.The
List of Current Permits being tracked will be displayed. Viewing a
permit individually can be done in two ways. The first option is
to click on the Authorization Number hyperlink listed above in
this email, this will display the Permit Information Screen. The
other option is to log on to eNOTICE and select the "SEARCH" Tab.
Scroll down to the "Name or ID Number Search" Section. Using the
drop down, select Authorization ID and type in the Authorization
Number in the "Search For" field and Click on the Search button.
The Permit Information Screen will display the detailed Permit
Application Information. |
|||||||||||||||||||||||||||||
Natural Gas Exploration and Leasing Since 2005 Penn State Cooperative Extension Offices have received an increasing number of questions from landowners about leasing land for natural gas exploration. While gas leases have been around for many years, the amount of money offered per acre has created a flood of activity in Pennsylvania. The "front" of this activity moved from northcentral Pennsylvania to southwestern Pennsylvania and now into Northeast Pennsylvania in an intense blizzard of landmen, speculators, brokers and energy companies all trying to "tie-up" large blocks of land with a company lease. |
|||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||
Page last updated: Saturday, 20. March 2010