
Industry/Company News
The event will last from Monday, May 3, 9:00 a.m. through Tuesday, May 4, 4:00 p.m.
The Marcellus Shale formation is the largest unconventional natural gas reserve in the world and is considered a "super giant" natural gas field stretching across much of the Appalachian Basin. Pennsylvania is the location for vast Marcellus deposits, which are estimated to contain enough gas to meet the natural gas needs of the United States for at least twenty years. However, extraction of this gas poses a number of environmental challenges for private land owners, local communities, the gas industry and government regulators.
A team of graduate students from the University Center for Social & Urban Research spent six months sorting through county records and plotting every oil- and gas-drilling lease signed in the county since 2003. Drilling in the gas-rich Marcellus shale started a drilling boom throughout the state, but so far Allegheny County has only seven of about 4,000 Marcellus wells in the state...
Many analysts thought that production would start to decrease this year, thereby enabling prices to rise later in 2010.
The supply picture is cloudy due to many factors—but that may be about to change for the better.
The Susquehanna County chapter of the league has been reviewing the natural gas issue as part of a study.
We have been encouraged in recent months by the bipartisan efforts in the Senate to break through the energy gridlock.
Now, though political divides threaten to stall progress, Congress must not turn aside from the continuing crisis.
America's energy policy is in a rut — and getting deeper by the day. Every 24 hours, we spend $1 billion dollars on imported oil — largely to nations that don't like us and put our sons and daughters in harm's way.
But the lack of rancor doesn't mean a lack of difference. In style and ideology, the four candidates have significant distinctions and occupy different points on their party's spectrum.
Neighbors have heard more about a plan to drill for gas in Jefferson Hills.
Representatives from DPS Penn, which leases land for Chesapeake Energy, an oil and gas drilling company, spoke to residents at a meeting last week.
They didn't ask for landowners to sign agreements on the spot, but wanted to offer information about the company and give people time to consider it, said Chad Mackert, a DPS Penn representative.
"We want to let you kind of digest that over time. We're not making any offer to anyone tonight," he said. "We create relationships with the landowners and we want to build relationships with the community."
Members of the Marcellus Shale Committee also brought a drill rig and a computerized van used in the fracture stimulation process for the public to view and tour.
"The Marcellus Shale story is being told in many counties, but it also needs to be told here in Harrisburg. It's a story of new jobs, economic investment, energy development and environmental stewardship," said State Rep. Tim Solobay (D-Canonsburg), co-chair of the House Natural Gas Caucus. "Washington County was the home to the first Marcellus Shale well almost five years ago. It has improved all aspects of the county's economy, and has great promise for decades to come."
"This is a great opportunity for Pennsylvania to become a leader in developing the clean-burning energy our nation needs, and it is being realized without government subsidies, tax-increment financing or other incentives that are too often required for economic development initiatives," said State Rep. Brian Ellis (R-Butler), co-chair of the caucus. "We need to support this industry by working with them on challenges such as water treatment technology and infrastructure investment, and not work against them by imposing a severance tax just as drilling activity is getting a foothold here."
The Energy Information Administration releases its weekly report at 10:30 a.m. EDT.
A reading above or below estimates can influence market trading.
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