02/24/17 Links of the Day: Oil Prices Stuck in the $50s?, Eminent Domain Battle, and More
Powersource: Washington County Landowners Caught in Eminent Domain Fight with Rover - "If David Rheinlander believes that his 5.5 acres, which include woods and a modular home, are worth $10 million, then who exactly is the Rover Pipeline or the federal government, for that matter, to say otherwise? “If they don’t like it, go around me,” Mr. Rheinlander said less than a week after..."
StateImpact Pennsylvania: GOP Lawmaker Reintroduces Controversial Royalties Bill - "Representative Garth Everett has called himself as a “sometimes marathoner” who is in it for the long haul. He’s now on his third attempt to pass legislation ensuring Pennsylvania landowners are paid a minimum royalty for natural gas..."
TriplePundit: Inside the House Bill That Would Close Down the EPA - "U.S. President Donald Trump has made no secret of his mission to slim down government oversight of business. Some supporters in Congress, however, don’t think that mission goes far enough. Last week, a little-known junior representative from Florida dropped a bombshell when he submitted a bill..."
WKSU: A Longshot Again: What Gov. Kasich's Gas and Oil Tax Could Mean to the Industry - "Leaders in the Ohio House have already said they’re not interested in raising taxes on the oil and gas industry. But Gov. John Kasich is still pushing his severance tax proposal. Gov. John Kasich’s budget would raise the tax rate on oil and gas drillers to 6.5 percent. That’s..."
Press release: Gulfport Energy Corporation Reports Fourth Quarter and Year-End 2016 Results - "For the full year of 2016, Gulfport reported a net loss of $979.7 million, or $7.97 per diluted share, on oil and natural gas revenues of $385.9 million. For the full year of 2016, EBITDA was $43.4 million and cash flow from operating activities before changes in operating assets and..."
Press release: Chesapeake Energy Corporation Provides 2017 Guidance and Operational Update - "In Northeast Appalachia, our activities in the Marcellus Shale in Pennsylvania and the Utica Shale in Ohio will be more focused on completing inventory wells compared to drilling and completing new wells. We also plan to begin applying more aggressive fracture stimulation procedures to wells in both the Marcellus and our dry gas Utica areas..."
News OK: Chesapeake Energy and McClendon Estate Reach Settlement - "Chesapeake Energy Corp. and the estate of co-founder and former CEO Aubrey McClendon have agreed to settle a multimillion-dollar dispute over data, stocks and use of a corporate jet. Under terms of the deal filed in state court, Chesapeake agreed to pay $3.25 million in legal fees and dropped claims for $445 million..."
Free Press Standard: "Gold" Translates Into Big $$$ - "When Ohio Governor John Kasich visited the Momentum oil and gas fractionation facility at Scio in 2014 and proclaimed, “There’s gold in them there hills,” he knew exactly what he was talking about. That “gold”, aka oil and gas, is padding the coffers of governments in the state in the form of ad valorem taxes..."
The Energy Collective: Learning to Frack - "Just ten years ago shale oil was expensive. Global oil prices spiked to $135/barrel in 2008 but shale oil didn’t and couldn’t respond. Now, at only $55/barrel, U.S. oil producers are going all in, announcing billions of dollars of increased investment, particularly in Texas and North Dakota, and energy experts like..."
Cincinnati.com: Kasich Budget Threatens Ohio's Energy Jobs - "Gov. John Kasich's final executive budget is a technology-focused proposal that threatens Ohio’s energy sector and future job prospects with a 500 percent tax increase. After years of trying to regain solid footing, Ohio’s blue-collar manufacturing shows more promise than it has in decades. A key to unlocking the state’s long-term success lies buried..."
Powersource: Series of Earthquakes in Lawrence County Linked to Fracking in Utica Shale Wells - "Pennsylvania regulators have placed conditions and monitoring requirements on Hilcorp Energy Co.’s fracking operations in western Lawrence County to reduce the risk that its deep gas well activities could trigger more small earthquakes like the ones the company is suspected of causing last..."
U.S. Department of Energy Office of Science: Hydraulic Fluids Hospitable for Microbes - "Hydraulic fracturing uses high-pressure injection of fresh water and chemical additives deep into the earth to generate extensive fractures in the shale matrix, thereby releasing hydrocarbons trapped in tiny pore spaces. A recent study—led by researchers from The Ohio State University, Department of Energy’s (DOE) Environmental Molecular Sciences Laboratory (EMSL), DOE Joint Genome Institute (JGI), and University of Maine—found that along with these fluids, microbes from the surface are also being injected and colonizing the deep subsurface..."
ABC News: Pruitt OK'd as EPA Chief Over Environmentalists' Objections - "Over the strong objections of environmental groups, the Senate confirmed Scott Pruitt to lead the Environmental Protection Agency on Friday, giving President Donald Trump an eager partner to fulfill his campaign pledge to increase the use of planet-warming fossil fuels. Pruitt was sworn in later Friday by Supreme Court Justice Samuel Alito. In six years as..."
Salon: Fossil Fuels' BFF: Scott Pruitt's Emails Show Why Republicans Rushed Through His EPA Confirmation - "On the eve of his confirmation, former Oklahoma attorney general Scott Pruitt was ordered by an Oklahoma judge to turn over thousands of communications between his office and the fossil fuel industry. But before those records were made public, Senate Republicans rushed to narrowly confirm Pruitt..."
Forbes: Stuck in the $50s - Why the Oil Price is Going Nowhere Fast - "This far into 2017, week after oil trading week has ended on very familiar territory with both Brent and West Texas Intermediate (WTI) – the world most watched crude benchmarks – stuck above the $50 per barrel mark. While that gives crude producers some much needed price stability, the market seems to be..."
Columbus Business First: Quality Inn in Cambridge, Ohio Up for Auction After Massive Revenue Drop Related to Utica Shale Drilling Dropoff - "The rise and fall of eastern Ohio’s oil and gas industry can be symbolized in a hotel. In 2012, as Utica shale activity was still ramping up, a private equity fund bought and renovated an Econo Lodge in Cambridge, converting it to a Quality Inn. Wexford Capital LP spent $2.5 million on the purchase and $1.4 million on..."
Energy in Depth: INFOGRAPHIC: Cancer Incidence Rates in Fracking and Non-Fracking States - "EID has debunked numerous activist-funded or authored health studies in recent years, and most of them have either specifically claimed fracking causes cancer or insinuated it can cause cancer, despite having no evidence to support..."
News OK: Chesapeake Energy Sells Properties Surrounding Campus - "Chesapeake Energy Corp. last month sold nine properties surrounding its Oklahoma City headquarters for about $9 million, continuing efforts to shed nearby real estate that is no longer part of the company's strategy. “We are pleased to have sold a series of properties adjacent to our Oklahoma City campus, and we continue to market a few remaining properties in..."
Seeking Alpha: Rice Energy Q4 2016 Results - Earnings Call Transcript - "Couple other things to note, we recognized positive performance revisions for both producing wells and PUD type curves. For these PUD locations, development costs are estimated to be $0.58 per Mcf, which is consistent with our 2017 CapEx budget. We've grown reserves at a pretty healthy clip over the last two years and 92% of our mapped core Marcellus and Utica locations aren't yet classified as proved, which gives us excellent..."
Press release: Carrizo Oil & Gas, Inc. Announces Fourth Quarter and Year-End Results and Provides 2017 Guidance - "In Appalachia, which encompasses the Company's Utica Shale and Marcellus Shale positions, Carrizo did not drill or complete any operated wells during the fourth quarter. Oil and condensate production from the Utica was more than 200 Bbls/d during the quarter, down from approximately 250 Bbls/d in the prior quarter due to the lack of activity. In the Marcellus, the Company's production was 35.8 MMcf/d, down from 40.9 MMcf/d in the prior quarter due to significant voluntary production curtailments during..."
Seeking Alpha: Carrizo Oil & Gas (CRZO) Q4 2016 Results - Earnings Call Transcript - "Our management team is pleased to report another outstanding quarter for the company. Our net oil production of 28,727 barrels of oil per day exceeded the high-end of our guidance range and total production of 44,775 barrels of oil equivalent per day also exceeded the..."
Press release: Chesapeake Energy Corporation 2016 Full Year and Fourth Quarter Financial and Operational Results - "Chesapeake is currently utilizing 17 drilling rigs across its operating areas, six of which are located in the Eagle Ford Shale, four in the Mid-Continent area, three in the Haynesville Shale, two in the Powder River Basin and two in Northeast Appalachia. Chesapeake plans to utilize..."
Seeking Alpha: Chesapeake Energy (CHK) Q4 2016 Results - Earnings Call Transcript - "2016 was a year of significant progress and substantial achievements for Chesapeake Energy. We are stronger today than any other time in our history. Looking back across this challenging period of low commodity prices, we've successfully..."
Connect with us on Facebook and Twitter!
Follow @EnergyNewsBlog
StateImpact Pennsylvania: GOP Lawmaker Reintroduces Controversial Royalties Bill - "Representative Garth Everett has called himself as a “sometimes marathoner” who is in it for the long haul. He’s now on his third attempt to pass legislation ensuring Pennsylvania landowners are paid a minimum royalty for natural gas..."
TriplePundit: Inside the House Bill That Would Close Down the EPA - "U.S. President Donald Trump has made no secret of his mission to slim down government oversight of business. Some supporters in Congress, however, don’t think that mission goes far enough. Last week, a little-known junior representative from Florida dropped a bombshell when he submitted a bill..."
WKSU: A Longshot Again: What Gov. Kasich's Gas and Oil Tax Could Mean to the Industry - "Leaders in the Ohio House have already said they’re not interested in raising taxes on the oil and gas industry. But Gov. John Kasich is still pushing his severance tax proposal. Gov. John Kasich’s budget would raise the tax rate on oil and gas drillers to 6.5 percent. That’s..."
Press release: Gulfport Energy Corporation Reports Fourth Quarter and Year-End 2016 Results - "For the full year of 2016, Gulfport reported a net loss of $979.7 million, or $7.97 per diluted share, on oil and natural gas revenues of $385.9 million. For the full year of 2016, EBITDA was $43.4 million and cash flow from operating activities before changes in operating assets and..."
Press release: Chesapeake Energy Corporation Provides 2017 Guidance and Operational Update - "In Northeast Appalachia, our activities in the Marcellus Shale in Pennsylvania and the Utica Shale in Ohio will be more focused on completing inventory wells compared to drilling and completing new wells. We also plan to begin applying more aggressive fracture stimulation procedures to wells in both the Marcellus and our dry gas Utica areas..."
News OK: Chesapeake Energy and McClendon Estate Reach Settlement - "Chesapeake Energy Corp. and the estate of co-founder and former CEO Aubrey McClendon have agreed to settle a multimillion-dollar dispute over data, stocks and use of a corporate jet. Under terms of the deal filed in state court, Chesapeake agreed to pay $3.25 million in legal fees and dropped claims for $445 million..."
Free Press Standard: "Gold" Translates Into Big $$$ - "When Ohio Governor John Kasich visited the Momentum oil and gas fractionation facility at Scio in 2014 and proclaimed, “There’s gold in them there hills,” he knew exactly what he was talking about. That “gold”, aka oil and gas, is padding the coffers of governments in the state in the form of ad valorem taxes..."
The Energy Collective: Learning to Frack - "Just ten years ago shale oil was expensive. Global oil prices spiked to $135/barrel in 2008 but shale oil didn’t and couldn’t respond. Now, at only $55/barrel, U.S. oil producers are going all in, announcing billions of dollars of increased investment, particularly in Texas and North Dakota, and energy experts like..."
Cincinnati.com: Kasich Budget Threatens Ohio's Energy Jobs - "Gov. John Kasich's final executive budget is a technology-focused proposal that threatens Ohio’s energy sector and future job prospects with a 500 percent tax increase. After years of trying to regain solid footing, Ohio’s blue-collar manufacturing shows more promise than it has in decades. A key to unlocking the state’s long-term success lies buried..."
Powersource: Series of Earthquakes in Lawrence County Linked to Fracking in Utica Shale Wells - "Pennsylvania regulators have placed conditions and monitoring requirements on Hilcorp Energy Co.’s fracking operations in western Lawrence County to reduce the risk that its deep gas well activities could trigger more small earthquakes like the ones the company is suspected of causing last..."
U.S. Department of Energy Office of Science: Hydraulic Fluids Hospitable for Microbes - "Hydraulic fracturing uses high-pressure injection of fresh water and chemical additives deep into the earth to generate extensive fractures in the shale matrix, thereby releasing hydrocarbons trapped in tiny pore spaces. A recent study—led by researchers from The Ohio State University, Department of Energy’s (DOE) Environmental Molecular Sciences Laboratory (EMSL), DOE Joint Genome Institute (JGI), and University of Maine—found that along with these fluids, microbes from the surface are also being injected and colonizing the deep subsurface..."
ABC News: Pruitt OK'd as EPA Chief Over Environmentalists' Objections - "Over the strong objections of environmental groups, the Senate confirmed Scott Pruitt to lead the Environmental Protection Agency on Friday, giving President Donald Trump an eager partner to fulfill his campaign pledge to increase the use of planet-warming fossil fuels. Pruitt was sworn in later Friday by Supreme Court Justice Samuel Alito. In six years as..."
Salon: Fossil Fuels' BFF: Scott Pruitt's Emails Show Why Republicans Rushed Through His EPA Confirmation - "On the eve of his confirmation, former Oklahoma attorney general Scott Pruitt was ordered by an Oklahoma judge to turn over thousands of communications between his office and the fossil fuel industry. But before those records were made public, Senate Republicans rushed to narrowly confirm Pruitt..."
Forbes: Stuck in the $50s - Why the Oil Price is Going Nowhere Fast - "This far into 2017, week after oil trading week has ended on very familiar territory with both Brent and West Texas Intermediate (WTI) – the world most watched crude benchmarks – stuck above the $50 per barrel mark. While that gives crude producers some much needed price stability, the market seems to be..."
Columbus Business First: Quality Inn in Cambridge, Ohio Up for Auction After Massive Revenue Drop Related to Utica Shale Drilling Dropoff - "The rise and fall of eastern Ohio’s oil and gas industry can be symbolized in a hotel. In 2012, as Utica shale activity was still ramping up, a private equity fund bought and renovated an Econo Lodge in Cambridge, converting it to a Quality Inn. Wexford Capital LP spent $2.5 million on the purchase and $1.4 million on..."
Energy in Depth: INFOGRAPHIC: Cancer Incidence Rates in Fracking and Non-Fracking States - "EID has debunked numerous activist-funded or authored health studies in recent years, and most of them have either specifically claimed fracking causes cancer or insinuated it can cause cancer, despite having no evidence to support..."
News OK: Chesapeake Energy Sells Properties Surrounding Campus - "Chesapeake Energy Corp. last month sold nine properties surrounding its Oklahoma City headquarters for about $9 million, continuing efforts to shed nearby real estate that is no longer part of the company's strategy. “We are pleased to have sold a series of properties adjacent to our Oklahoma City campus, and we continue to market a few remaining properties in..."
Seeking Alpha: Rice Energy Q4 2016 Results - Earnings Call Transcript - "Couple other things to note, we recognized positive performance revisions for both producing wells and PUD type curves. For these PUD locations, development costs are estimated to be $0.58 per Mcf, which is consistent with our 2017 CapEx budget. We've grown reserves at a pretty healthy clip over the last two years and 92% of our mapped core Marcellus and Utica locations aren't yet classified as proved, which gives us excellent..."
Press release: Carrizo Oil & Gas, Inc. Announces Fourth Quarter and Year-End Results and Provides 2017 Guidance - "In Appalachia, which encompasses the Company's Utica Shale and Marcellus Shale positions, Carrizo did not drill or complete any operated wells during the fourth quarter. Oil and condensate production from the Utica was more than 200 Bbls/d during the quarter, down from approximately 250 Bbls/d in the prior quarter due to the lack of activity. In the Marcellus, the Company's production was 35.8 MMcf/d, down from 40.9 MMcf/d in the prior quarter due to significant voluntary production curtailments during..."
Seeking Alpha: Carrizo Oil & Gas (CRZO) Q4 2016 Results - Earnings Call Transcript - "Our management team is pleased to report another outstanding quarter for the company. Our net oil production of 28,727 barrels of oil per day exceeded the high-end of our guidance range and total production of 44,775 barrels of oil equivalent per day also exceeded the..."
Press release: Chesapeake Energy Corporation 2016 Full Year and Fourth Quarter Financial and Operational Results - "Chesapeake is currently utilizing 17 drilling rigs across its operating areas, six of which are located in the Eagle Ford Shale, four in the Mid-Continent area, three in the Haynesville Shale, two in the Powder River Basin and two in Northeast Appalachia. Chesapeake plans to utilize..."
Seeking Alpha: Chesapeake Energy (CHK) Q4 2016 Results - Earnings Call Transcript - "2016 was a year of significant progress and substantial achievements for Chesapeake Energy. We are stronger today than any other time in our history. Looking back across this challenging period of low commodity prices, we've successfully..."
Connect with us on Facebook and Twitter!
Follow @EnergyNewsBlog
