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Drilling Down
2011 Oil, Gas Deals Highlighted by Shale Plays
Wednesday, February 15, 2012HOUSTON -- The total value of U.S. oil and gas mergers and acquisitions increased significantly in 2011. This came as a result of continued investment in U.S. shale plays and related infrastructure, sustained interest from foreign buyers, and private equity entrants deploying capital in the energy industry.
Mahoning County Officials Form Shale Initiative
Wednesday, February 15, 2012YOUNGSTOWN, Ohio -- Staff from Mahoning County agencies and offices formed what termed "a shale initiative" Tuesday, a step intended to keep officeholders and bureaucrats more fully informed about the benefits of oil and gas drilling in the Utica shale.
The meeting, in Oakhill Renaissance Place, established the initiative as an entity that will meet quarterly to be briefed on shale industry activity in Mahoning County.
Chesapeake Seeks New Well Permits
Tuesday, February 14, 2012YOUNGSTOWN, Ohio – Chesapeake Energy Corp. has submitted applications for a new well in Mahoning Township and three others in Columbiana County. The Ohio Department of Natural Resources lists a Chesapeake application on Feb. 10 for a new horizontal well at the Jarvis farm in Goshen Township.
Chesapeake also applied for two more horizontal drilling permits at the Albaneso farm in Franklin Township in Columbiana County on Feb. 9, as well as another horizontal well on the Reed property in Elk Run Township.
Chesapeake Announces Debt Plan, New Offering
Tuesday, February 14, 2012OKLAHOMA CITY -- Chesapeake Energy Corp. Monday provided details of a financing plan that would fund its capital expenditures through 2012 and reduce its long-term debt. The company said in a statement that it expects to receive $2 billion this year by selling off a portion of its midstream assets and service company assets, while it is banking on another $2 billion from two separate transactions involving Chesapeake-affiliated companies.