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Wednesday, March 29, 2017

03/29/17 Links of the Day: Keystone XL Approved, Thousands of Shale Wells Left Unfinished, and More

Energy in Depth:  Disturbing Video Shows How Out of Touch Fringe Anti-Fracking Activist Group Is With Ohioans   -   "A disturbing anti-fracking video from Appalachia Resist! — perhaps the most rogue fringe activists group in Ohio — was recently posted to social media in an apparent effort to save their failed campaigns. The group, which has been tied to..."

Reuters:  All Drill, No Frack: U.S. Shale Leaves Thousands of Wells Unfinished   -   "U.S. shale producers are drilling at the highest rate in 18 months but have left a record number of wells unfinished in the largest oilfield in the country – a sign that output may not rise as swiftly as drilling activity would indicate. Rising U.S. shale output has rattled OPEC's most influential exporter Saudi Arabia and pushed oil prices to a near..."

Press release:  Ascent Resources Utica Holdings, LLC Announces Offering Of $1.5 Billion Of Senior Notes   -   "Ascent Resources Utica Holdings, LLC ("ARUH") and ARU Finance Corporation ("Finco" and, together with ARUH, the "Issuers") announced today that they intend to offer $1.5 billion of senior unsecured notes ("Notes") in two series due in 2022 and 2025 in an unregistered offering to institutional investors. The Notes will be guaranteed by Ascent Resources – Utica, LLC ("ARU"). The net proceeds from the offering..."

WTOV:  Cera Pushing New Bill that Would Assist Areas Impacted by Shale Drilling   -   "A new bill that would assist areas impacted by shale drilling. State Representative Jack Cera, R-Bellaire, says the oil and gas severance tax should come back to benefit the area in which it was generated, and he is working to reinvest severance tax revenue in eastern Ohio. "There’s about $54 million sitting in this fund right now. That's money that's never been expended, and my concern..."

Vorys Energy & Environmental Law Blog:  Ohio Court Construes the Term “Holder” Under the 2006 DMA to Include the Heirs and Devisees of the Record Owner   -   "Ohio’s Seventh District Court of Appeals recently interpreted the term “holder” under the 2006 version of the Ohio Dormant Mineral Act (R.C. § 5301.56) (“2006 DMA”) and held that the term should be construed broadly to include the heirs and devisees of the record owner of the severed mineral interest that succeed to the severed mineral interest by intestacy or..."

Morningstar:  Antero Gears Up for NGL Growth   -   "Antero Resources (AR) produces natural gas from the Marcellus Shale in West Virginia and the Utica Shale in eastern Ohio. Henry Hub prices are close to our midcycle estimate of $3 per thousand cubic feet, which is well above the company’s cost of production. Though basis differentials in..."

Forbes:  State Approves Keystone XL, World Does Not End. Film at 11.   -   "It's been a very busy week for pipeline-related matters. On Monday, I wrote about the Dakota Access Pipeline, and the latest controversy surrounding whether the state of North Dakota will receive any help in paying the huge tab it has incurred policing and cleaning up after the protesters. On Wednesday I wrote about..."

Fuel Fix:  Halliburton Adding 2,000 Jobs as Oilfield Activity Picks Up   -   "Halliburton on Friday said it’s adding 2,000 U.S. jobs in the first quarter and ramping up activity faster than anticipated to try to match the surging oilfield activity, especially in West Texas. In a rare operations update call, Halliburton Chairman and CEO Dave Lesar said the company is spending more money..."


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