Drilling and Development

i20080516125101_72Gov. Corbett Stays Positive About Cracker Plant in Beaver County

Beaver County, noted for its access to rivers, rails and highways make it the perfect location for Shell’s multibillion-dollar proposed ethane Cracker Plant*.

Gov. Corbett made mention of it twice during his budget address.

Although Shell still hasn’t decided whether to make the investment in the facility, Gov. Corbett stays positive that the site would be built at the soon-to-be-closed Horsehead Holding Corporation’s zinc factory. Horsehead has to vacate the site by April 30, 2014.

Corbett told lawmakers it would mean thousands of jobs “when we succeed in attracting the new petrochemical plant and the hundreds of new businesses that will spring up around it.” Once operational, the plant alone will employ several hundred full time employees. The site will be Shell’s fifth domestic cracker plant. Experts say that cracker plant facilities tend to multiply once one is built. That is certainly the hope to increase continued job growth in Pennsylvania.

Corbett said a bipartisan effort has helped Pennsylvania save refineries in eastern Pennsylvania and secure the cracker plant. The state’s proposed 1.65 billion incentive package was crucial in Pennsylvania’s efforts to win the cracker plant instead of Ohio or West Virginia.

If all goes well, construction on the plant is thought to be less than two years away.

“PAOG Report editors have noticed that while Shell still hasn’t formerly committed to Beaver County for the site of the cracker plant, Governor Corbett appears to remain very optimistic, which may be a good sign that the cracker will indeed come to Beaver County. PAOG Report editors’ own discussions with landowners lead us to believe that the cracker plant will be welcomed by western PA residents, and losing the cracker plant to another state would be a big disappointment. Share your thoughts on the cracker plant by posting a comment here!”

*Cracking refers to a process that allows the production of “light” products such a liquified petroleum gas (know as LPG)  and gasoline from heavier crude oil such as gas oils and residues. Fluid catalytic cracking produces a high yield of gasoline and LPG, while hydrocracking is a major source of jet fuel, diesel, naphtha and LPG.

 

 

Gas prices amazingly low! “The Good, The Bad & The Ugly “

Posted by on Jan 9, 2015 in Top News | Comments Off on Gas prices amazingly low! “The Good, The Bad & The Ugly “

Gas prices amazingly low! “The Good, The Bad & The Ugly “

The Good: People are enjoying the cheapest gas prices since 2009!  According to President Barack Obama, Americans should take advantage of these savings and put them to good use, by suggesting that they put the money into savings or buy something that will still be useful once gas prices start creeping up, such a fuel efficient car or new appliance. Even well-known “gas eaters”, such as sport utility vehicles and trucks, have increased their sales figures, helping to boost the sagging car industry. The Bad: Downside Of Low Prices At The...

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Improving economy due to Oil & Gas production… the White House agrees.

Posted by on Oct 18, 2013 in Top News | Comments Off on Improving economy due to Oil & Gas production… the White House agrees.

Improving economy due to Oil & Gas production… the White House agrees.

President Obama established a national goal in 2011 to reduce oil imports by one third by 2020 and elevated the goal in 2012 to reduce them by one half by 2020. We are currently on track to meet this goal. Increasing domestic production of oil is having positive effects on economic growth, including more jobs. Government funded research supplemented by the private industry has worked to develop the technology that sparked the boom in oil and gas production. Crude oil production has grown each year to its highest level in 17 years in 2012....

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Venango County, PA Well Update

Posted by on Oct 18, 2013 in Lease Activity, Top News | Comments Off on Venango County, PA Well Update

Venango County, PA Well Update

Bayport International Holdings, Inc. Signs Letter of Intent to Purchase 5 Oil Wells Bayport International Holdings, Inc.* has signed a Letter of Intent to purchase an interest in 5 oil wells located on the Scott Lease, Venango County, PA. The approximately 52 acre lease is located north east of the town of Oil City, Pa. The preliminary target zone for wells on this lease will be the Venango Sands. The Venango Sands formations are the Red Valley, Lytle, 1st Sands, 2nd Sands, 3rd Sands Stringer, 3rd Sands and 4th Sands. These oil and gas bearing...

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New Update: Cracker Plant In Beaver County

Posted by on Oct 4, 2013 in Home, Top News | Comments Off on New Update: Cracker Plant In Beaver County

New Update: Cracker Plant In Beaver County

Shell Chemical LP is trying to lock up enough ethane suppliers in order to decide if they should go forward with the proposed plant in Beaver County. Shell Chemical LP has secured some supply commitments from CNX Gas Co. LLC, A subsidiary of Consol Energy Inc, Hilcorp Energy Co, Noble Energy Inc and Seneca Resources Corp. Obtaining additional ethane suppliers is a key factor for Shell to make its final decision. Shell has not said how much ethane it would need to make the plant viable. The main consideration for Shell is whether it is...

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3 Natural Energy Bills To Follow…

Posted by on Jul 29, 2013 in Top News | Comments Off on 3 Natural Energy Bills To Follow…

3 Natural Energy Bills To Follow…

House Bill 1900 “Natural Gas Pipeline Permitting Reform Act” Sponsor: Rep. Mike Pompeo [R-KS] Introduced: May 09, 2013 A bill that would require FERC (Federal Energy Regulatory Commision) to approve or deny a certificate of public convenience and necessity for a pipeline project within 12 months, or the project will automatically be approved. “This legislation makes common-sense reforms to the natural gas pipeline permitting process and will allow new pipeline projects to be built safely and efficiently to help meet the...

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Energy Business Forecast: Coal versus Natural Gas

Posted by on Jul 23, 2013 in Home | Comments Off on Energy Business Forecast: Coal versus Natural Gas

  The Environmental Protection Agency recently cited cheaper natural gas as one of the reasons for lower greenhouse-gas emissions in the United States. Gas prices also declined as a result of increased supply from hydraulic fracturing, or fracking, and responded by using more gas to generate electricity. Natural gas emits about half as much CO2 as coal. While price remains the primary factor in the short-term race between gas and coal, other factors helping gas replace coal in the long term, according to EIA (U.S. Energy Information...

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Range Resources continues to report record gains

Posted by on Jul 18, 2013 in Drilling & Development | Comments Off on Range Resources continues to report record gains

Range Resources continues to report record gains

Range Resources Corp. stated that their 2nd quarter production volumes reached a record high, making this a 27% increase over the prior year. Range Resources is one of the largest lease holders for the Marcellus Shale play. They stated that the Marcellus drilling is continuing to drive their production volumes. Continuing thru 2013, Range will be directing a large chunk of its capital budget toward development drilling in the region.  Clearly, Range expects the Marcellus division to be a value driver for Range for many years to...

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Corbett Signs Controversial Bill Giving Drillers Power To Pool Leases

Posted by on Jul 12, 2013 in Top News | Comments Off on Corbett Signs Controversial Bill Giving Drillers Power To Pool Leases

Corbett Signs Controversial Bill Giving Drillers Power To Pool Leases

Governor Corbett signed a controversial bill (Senate Bill 259*) into law on July 9th, giving drillers the power to combine or “pool” leases for horizontal oil and gas drilling. The Governor is defending this legislation, but an oil and gas royalty owners group states that it undermines some landowners’ negotiating rights when dealing with Marcellus Shale drilling companies. The legislation was originally promoted as an effort to bring more clarity to the deductions companies take out of royalty payments. Landowner complaints over...

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Washington County, PA leases are expiring

Posted by on Jun 20, 2013 in Top News | Comments Off on Washington County, PA leases are expiring

Washington County, PA leases are expiring

Many Washington County PA landowners’ oil & gas leases have already expired, or are set to expire in the very near future. Unfortunately, many of them do not get the professional help they should, and miss valuable opportunities to maximize negotiations for a quality oil & gas lease. Landowners need the right representation, in regards to making an informed decision about their oil and gas lease and contract negotiations. Landowners need to capitalize on the financial benefits from their natural resources, with an eye towards having...

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Appeals court upholds local fracking bans in NY

Posted by on May 8, 2013 in Home, Marcellus Utica Shale | Comments Off on Appeals court upholds local fracking bans in NY

Appeals court upholds local fracking bans in NY

New York municipalities can use local zoning laws to ban the practice of hydraulic fracturing to drill for natural gas, a mid-level state appeals court said last week. The town of Skaneateles used a series of zoning laws to prohibit heavy industry last year. More than 50 New York municipalities, such as the town of Skaneateles, have banned gas drilling in the past few years, and more than 100 have enacted moratoriums on drilling activities. The court’s decision involved interpretation of state law that says that regulation of the oil and gas...

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