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Thursday, September 24, 2015

09/24/15 Links of the Day: Chesapeake Looking to Up Oil Production, Forced Pooling is Addressed in Ohio, and More

Northeastern Agricultural and Resource Economics Association:   The Economic Impact of Shale GasDevelopment: A Natural Experimentalong the New York / PennsylvaniaBorder   -   "Over the past decade, the technological advancements of hydraulic fracturing and horizontal drilling have led to the economic feasibility and rapid growth of natural gas production using shale and other unconventional sources. Hydraulic fracturing (“fracking”) is the process..."

Energy in Depth:  New Report Attempts to Downplay Incredible Job Creation from Shale Development   -   "A new report published in the August edition of Agricultural and Resources Economics Reviewattempts to undermine the job creation and economic development that has taken place over the last decade thanks to shale development. According to the researchers, countywide employment and wages varied little in counties..."

StateImpact Pennsylvania:  Giuliani urges shale industry to fight ‘irrational’ public fear of fracking   -   "Former New York City Mayor Rudolph Giuliani on Wednesday urged the natural gas industry to mount a public-relations campaign to overcome what he said was an irrational fear of fracking among some sections of..."

Duke University:  How Much Water Does Fracking Really Use?   -   "Energy companies used nearly 250 billion gallons of water to extract unconventional shale gas and oil from hydraulically fractured wells in the United States between 2005 and 2014, a new Duke University study finds. During the same period, the fracked wells generated about 210 billion gallons of..."

Reuters:  House panel passes bill to repeal U.S. oil export ban   -   "A bill to repeal the 40-year-old ban on U.S. oil exports easily passed the energy panel in the House of Representatives on Thursday, but the measure faces an uphill battle in the Senate. The legislation, which passed 31 to 19, is expected to be passed by the full House in coming weeks. But the bill is not backed by President Barack Obama. The White House said..."

Energy & Environmental Law Blog:  Ohio Oil and Gas Commission Issues First Order Addressing Compulsory Unitization   -   "On Thursday of last week, the Ohio Oil and Gas Commission issued its first order addressing unitization under R.C. 1509.28. See Gary L. Teeter Revocable Trust v. Division of Oil & Gas Resources Management (Appeal No. 895) (Sept. 17, 2015). The Commission, in effect, affirmed the issuance of the unit order by the Division of Oil and Gas with one modification, despite..."

Fuel Fix:  Goldman Sees 15 Years of Cheap Crude   -   "A glut of crude may keep oil prices low for the next 15 years, according to Goldman Sachs Group Inc. There’s less than a 50 percent chance that prices will drop to $20 a barrel, most likely when refineries shut in October or March for maintenance, Jeffrey Currie, head of commodities research at the bank, said in an interview in Lake Louise, Alberta. Goldman’s long-term forecast for crude is at..."

OPSB:  OPSB approves Lordstown Energy Center, Lorain County substation   -   "The Ohio Power Siting Board (OPSB) today authorized Clean Energy Future-Lordstown (CEF-L) to construct an 800-megawatt natural gas-fired combined-cycle generation facility in Lordstown, Ohio. The Lordstown Energy Center will be located on a 17-acre parcel in the Lordstown Industrial Park east of State Route 45 and south of Henn Parkway. The facility and associated transmission infrastructure will interconnect to..."

The Intelligencer/Wheeling News-Register:  Union Official: ‘Sky Is the Limit’   -   "According to one local trade union official, the sky's the limit for students at Utica Shale Academy. Chris Ricker of the Ohio State Association of the Plumbing and Pipefitting Industry Local 495 of Canton spoke to nearly 30 students in the program on..."

Wood Mackenzie:  Upstream cost cuts must go deeper to save projects   -   "In a comprehensive analysis looking at the impact of cost deflation on the global upstream oil & gas sector, Wood Mackenzie concludes that while operators are seeking an average cost reduction of 20-30% on projects, supply chain savings through squeezing..."

Forbes:  Why Is Chesapeake Boosting Production Despite Low Oil Prices?   -   "At a time when most of the oil and gas companies are restricting their operations due to the slump in the commodity prices, Chesapeake Energy Corporation has plans to expand its 2015 production by close to 4%, beating its original production estimate of a 1-3% increase for..."

RBN Energy:  Dry County? Utica Dry Gas Wells Headline Third Quarter Production Spurt   -   "U.S. Lower 48 natural gas production is averaging a record 74.2 Bcf/d in September to date, according to PointLogic Energy. Meanwhile, CME’s Henry Hub natural gas futures contract has languished at an average of $2.68/MMBtu this month to date, the lowest for any September since 2001. Much of the recent gain..."

NGI:  Landowners' Law Firm Asks FERC to Delay Rover Pipeline   -   "A law firm representing more than 200 landowners who could be impacted by the proposed Rover Pipeline has asked FERC to delay issuing a draft environmental impact statement (DEIS) for the project on the grounds that, among other things, Rover has filed insufficient details about..."


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