Welcome to the Business Journal Archives
Search for articles below, or continue to the all new BusinessJournalDaily.com now.
Search
Drilling Down
Valerus Studies Mahoning Valley for Potential Plant
Thursday, March 22, 2012PITTSBURGH --Valerus, a mid-market gas-services company based in Houston, is the latest company related to the oil and gas industry to report it's looking for a site in the Mahoning Valley from where it hopes to capitalize on Utica shale exploration.
“We see particularly Youngstown and eastern Ohio becoming a major manufacturing hub for the Utica and Marcellus," Peter Lane, president and CEO of Valerus, tells The Business Journal. “We've done several exploratory missions -- especially to Youngstown.”
Chesapeake Gets Another Permit to Drill at Buehl Site
Thursday, March 22, 2012COLUMBUS, Ohio – The Ohio Department of Natural Resources March 15 approved a permit sought by Chesapeake Exploration LLC, a subsidiary of Chesapeake Energy, to drill an additional well on the Buell property in Archer Township of Harrison County.
The Buell property hosts Chesapeake’s largest producing well in the Utica shale play, the Buell well, which generates 9.5 million cubic feet of dry natural gas and 1,425 barrels of wet natural gas and oil per day.
Energy Giants Bringing Billions to Utica Shale
Wednesday, March 21, 2012PITTSBURGH – In two years, about $1 billion in wages could be flowing into workers' pockets as a result of Chesapeake Energy's massive midstream project to be built in eastern Ohio that would process natural gas drilled from the Utica shale.
"I couldn't be more excited for this particular region," said J. Mike Stice, chief executive of Chesapeake Midstream Partners LP, during the Hart Energy Marcellus Midstream conference Tuesday. "The stimulus is amazing for eastern Ohio. They are truly blessed to have this diversity of supply underneath them."
Chesapeake Pays $9M to Lease 1,500 Utica Acres
Wednesday, March 21, 2012YOUNGSTOWN, Ohio – An affiliate of Chesapeake Energy Corp. is paying a Kentucky coal company $9 million dollars to lease drilling rights in the Utica shale region of Harrison County.
Columbiana Port Authority Signs with Chesapeake
Tuesday, March 20, 2012EAST LIVERPOOL, Ohio -- Chesapeake Energy Corp. extended its reach in Columbiana County by signing a five-year lease for the drilling rights for 156 acres owned by the Columbiana County Port Authority.
Chesapeake will pay the port authority $4,000 per acre with a royalty of 17.5% of net revenues it generates from either oil or gas produced and marketed. The Oklahoma City-based Chesapeake will have the option to extend the lease before or on the expiration date for an additional five years.