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Wednesday, May 20, 2015

Links for 5/20/15: Utica Shale Production Growth Impresses, Natural Gas Prices on the Rise, and More

Market Realist:  Utica Shale Gas Production Races Ahead in April   -   "According to the U.S. Energy Information Administration (or EIA), the Utica Shale in eastern Ohio has become one of the fastest growing gas-producing regions in the United States. In its Drilling Productivity Report (or DPR) released on May 11, 2015, the EIA estimates that in April, Utica Shale gas production reached 2.38..."

Shale Play:  Drillers still taking water from Ohio Creeks   -   "XTO Energy stopped drawing frack water from McMahon Creek in Belmont County in December, but the company is one of several Utica and Marcellus shale drillers once again pulling from streams across Ohio for..."

The Daily Caller:  Two Graphs Show Exactly Why Saudi Arabia Wants To Crush Fracking   -   "There’s an oil price war going on, and OPEC thinks it can win by not cutting production and pricing out companies producing oil from U.S. shale formations. And now, the Energy Information Administration (EIA) has some charts that show why Saudi Arabia and other OPEC nations are afraid of America’s..."

Seeking Alpha:  PDC Energy - Utica Comes Out Swinging, Wattenberg Plugs   -   "A high-flying shale developer focused on the Niobrara and Codell formations in the Wattenberg Field in Colorado and the Utica play in Ohio, PDC Energy Inc (NASDAQ:PDCE), had plenty of good news to give investors in its latest updates. Production from its two areas of operation jumped up by..."

Market Realist:  Natural Gas Prices Touched a 4-Month High Last Week   -   "Natural gas prices had a good week. Prices mostly increased between May 11 and May 15, closing at $3.016 per MMBtu (million British thermal units) on Friday, May 15. This was 4.7% higher than last Fridays close of $2.88 per MMBtu. Natural gas prices affect the profitability of natural gas producers like..."

Bloomberg Business:  Oil CEO Wanted University Quake Scientists Dismissed: Dean's E-Mail   -   "Oil tycoon Harold Hamm told a University of Oklahoma dean last year that he wanted certain scientists there dismissed who were studying links between oil and gas activity and the state's nearly 400-fold increase in earthquakes, according to the dean's e-mail recounting..."

ShaleOhio:  Federal judge rules pipeline can cross holdout properties in Pennsylvania   -   "A federal judge has ruled that the company building a 124-mile pipeline to transport natural gas from the Marcellus shale play to New York can build across seven Pennsylvania properties whose owners had not agreed to provide access to their land, reports Farm and Dairy. In Constitution Pipeline Company, LLC v. A Permanent Easement for 1.84 Acres, M.D. Pa. Case No. 3:14-cv-02458-MEM, Judge Malachy Mannion..."

NGI:  Oil / Gas Severance Tax Still Under Consideration in Ohio Senate   -   "The Ohio Senate has opted to craft its own state budget rather than work from a version passed by the state House of Representatives last month or borrow from Gov. John Kasich's proposed budget, which called for a 6.5% severance tax..."

Energy & Environmental Law Blog:  Supreme Court of Ohio Accepts Wendt v. Dickerson   -   "On June 20, 2015, the Supreme Court of Ohio accepted the appeal in Wendt v. Dickerson, a case from Ohio’s Fifth Appellate District involving Ohio’s Dormant Mineral Act (“DMA”). The Court will consider: (1) whether the 2006 version of the DMA is solely applicable in determining the ownership of minerals when the surface owner did not make a claim for the..."

Oilprice.com:  This Innovation Will Help U.S. Companies Win The Oil Price War   -   "Although some US oil companies are struggling with low oil prices, a new wave of innovation is hitting the oil patch, allowing for a significant reduction in drilling costs. A variety of different improvements in production are starting to show up at all levels across the industry from..."

Natural Gas Now:  Penn State Explains Their Groundwater Study   -   "We covered the recent Penn State groundwater study and Penn State has responded. We post the entire response here as a matter of fairness and ensuring all facts are available, only adding emphasis to some key points. Frequently asked questions about the study “Evaluating a groundwater supply contamination incident attributed to Marcellus Shale gas development” by Llewellyn GT, Dorman F, Westland JL, Yoxtheimer D, Grieve P, Sowers T, Humston‐Fulmer E, Brantley SL, 2015 (PNAS, doi: 10.1073/pnas.1420279112). The information presented below was developed by several of the study’s co‐authors including..."

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