Drilling Down
Avalon Eyes Two Injection Wells, Reports Club Membership Up
Friday, April 27, 2012VIENNA, Ohio – Avalon Holdings Corp. chairman and CEO Ron Klingle says that his company is looking to develop two brine injection wells in the region, even as the state administers tighter regulatory scrutiny over the process.
Range Resources Reports $41.8M Loss in Q1
Thursday, April 26, 2012FORT WORTH – Range Resources Corp. reported a net loss of $41.8 million, or 26 cents a share, during the quarter ending March 31, dragged down by rock-bottom natural gas prices and increasing costs, according to a filing with the Securities and Exchange Commission Wednesday.
The loss compares to a net loss of $25 million, or 16 cents a share, during the same period in 2011, the records show.
ODNR Issues First Well Permit in Trumbull County
Wednesday, April 25, 2012COLUMBUS, Ohio -- The Ohio Department of Natural Resources last week issued the first permit to drill a horizontal well in Trumbull County.
Consol Energy/CNX Gas Co. applied for the permit April 3 to drill into the Utica shale on the property in Vienna Township behind Martin E. Wollam Racing Stables, Warren-Sharon Road.
This is Pittsburgh-based CNX’s sixth permit for horizontal drilling in the state.
Consol recently announced plans to expand its presence in Ohio, saying it was exploring opening a regional office at the Leetonia World Trade Park in Columbiana County.
Hagan Decries Conduct of House Hearing on Fracking
Wednesday, April 25, 2012COLUMBUS, Ohio – State Rep. Robert Hagan decried how last week’s meeting of the state House of Representatives’ Agriculture and Natural Resources Committee was conducted, and accused the House’s Republican majority of “dancing on the end of string being manipulated by the energy industry.”
Hagan, D-60 Youngstown, sent the email detailing his criticisms to House Agriculture Chairman Dave Hall, R-97 Millersburg, and Speaker Bill Batchelder, R-69 Medina. The text of the letter follows:
Dear Chairman Hall and Speaker Batchelder,
No Let Up in Criticism of Chesapeake's McClendon
Tuesday, April 24, 2012YOUNGSTOWN, Ohio – On the heels of a Reuters investigation that reported Chesapeake Energy Corp. CEO Aubrey McClendon borrowed $1.1 billion by using his stake in Chesapeake wells as collateral, a law firm known for class-action litigation is reviewing whether to sue Chesapeake on behalf of shareholders, and at least one analyst who follows the stock is calling for change at the top.