A look at how energy extraction is reshaping Pennsylvania’s economy.
The Associated Press reports natural gas prices have rebounded from historic lows. According to new federal energy data, the price of gas has topped $4 per thousand cubic feet. A warm winter and high production sent prices below $2 per thousand cubic feet just a year ago: Gas drilling companies are obviously happy with the [...]
The Pittsburgh Post-Gazette reports Brazilian leaders have expressed interest in Pennsylvania’s experiences with shale gas development. Governor Corbett met with leaders there this week as part of his 10-day trade mission through Brazil and Chile. He tells the Post-Gazette the two governments have a lot in common. He plans to send Brazilian leaders a copy [...]
Governor Corbett signed a joint declaration with the governor of the Brazilian state of Rio de Janeiro today to promote collaboration and investments in energy, particularly in oil and natural gas development. The declaration comes as part of Corbett’s 10-day trade mission through Brazil and Chile, which began Saturday. The trip wraps up April 16 and includes stops [...]
Despite a slowdown in natural gas drilling, Pennsylvania will only see a small drop in the amount of impact fees it’s collecting, according to new data released this week by the Pennsylvania Public Utility Commission (PUC). A year-old law, known as Act 13, places an impact fee on every gas well in the Marcellus Shale formation. [...]
A Northumberland County businessman with ties to Pennsylvania’s gas industry will accompany Governor Corbett on an upcoming 10-day trade mission to Brazil and Chile. John Moran Jr. is co-chair of the Team Pennsylvania foundation, which is sponsoring the trip. StateImpact Pennsylvania first reported Moran paid for expensive private flights and a yacht vacation to Rhode [...]
The nation’s second-largest natural gas producer, Chesapeake Energy Corp., is trying to reassure investors it can rein in costs and cover a budget shortfall. According to Reuters, the company will market acreage in the Marcellus region, in order to focus more on its core drilling operations in Texas: Investors took control of the Chesapeake board in [...]
Pipeline expansions serving the Marcellus Shale gas boom have helped boost production rates above seven billion cubic feet a day, according to an analysis by IHS. The report says the Marcellus now leads the Haynesville Shale as the most productive shale play in the country. The Haynesville Shale formation stretches beneath northwestern Louisiana, eastern Texas and [...]
Here’s a graphical view of one of the most controversial aspects of hydraulic fracturing: the enormous amount of water it uses.
In the Susquehanna River Basin, just one well can use an average of 4.4 million gallons of water during a frack job, which can last several days to a week. The majority of that water comes from Pennsylvania’s rivers and streams. Meanwhile, more than 4,000 miles of streams polluted by abandoned coalmine drainage flow through Pennsylvania’s forests, [...]
The U.S. Federal Reserve is citing Pennsylvania’s Marcellus Shale gas boom in a new survey of regional economic trends, according to the Associated Press: The Fed’s latest Beige Book issued Wednesday mentions that Pennsylvania banks see customers paying down loans with natural gas royalty money. In neighboring Ohio the Fed says shale gas activity is [...]
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