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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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Revenue (Impact Fees) from Shale drilling drops in local communities

Posted by on Jul 30, 2013 in Uncategorized | Comments Off on Revenue (Impact Fees) from Shale drilling drops in local communities

Many municipalities across Pennsylvania received less money from the fees paid for Marcellus drilling this year. The average lesser amount was about 10%.  The fees collected for 2012 was about $202.4 million dollars, which was a decrease of about $1.8 million dollars. Part of the reason in the drop in impact fees is the drop in the cost of natural gas. The drop in revenue can also be affected by the fact that any new wells are charged higher fees in their first year of operation. Under Act 13, which also limits efforts to regulate drilling by...

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2 Energy Companies Pulling Out Of Northeastern PA

Posted by on Jul 30, 2013 in Marcellus Utica Shale | Comments Off on 2 Energy Companies Pulling Out Of Northeastern PA

2 Energy Companies Pulling Out Of Northeastern PA

Hess Corp. and Newfield Appalachia PA LLC sent a letter to landowners that notified them their leases are no longer in effect, according to the Northern Wayne Property Owners Alliance, which negotiated a master lease on behalf of more than 1,300 families and businesses. A three year moratorium on gas drilling has infuriated landowners who claim that it has cost them more than $187 million dollars in profit. A spokesperson for Newfield said that the company’s focus will now be on oil instead of gas. The lease termination means that landowners...

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Lease Activity in Washington County

Posted by on Jul 29, 2013 in Lease Activity | Comments Off on Lease Activity in Washington County

Lease Activity in Washington County

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...

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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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