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Drilling Down
Hess Sells Acreage in Utica's Dry Gas Window
Thursday, January 30, 2014NEW YORK -- Hess Corp. has agreed to sell 74,000 acres of its dry gas acreage in the Utica Shale to an undisclosed third party for $924 million in cash and instead concentrate capital investment in its liquids-based asset portfolio.
According to various news organizations, which all quote The Wall Street Journal, the buyer is American Energy Partners LP, the company formed last year by Aubrey McClendon, the former CEO of Chesapeake Energy. McClendon’s company reportedly has declined comment.
EY Research Report Looks at Global Energy Market
Thursday, January 30, 2014HOUSTON -- The surge in U.S. oil and natural gas production -- primarily from unconventional resources such as shale gas and light, tight oil, made the United States the oil and gas industry's largest source of growth. The country looks to be a net exporter of gas within the next two to three years, while net oil import dependency has been sharply reduced, finds the EY Oil & Gas Center's U.S. Quarterly Outlook.
Blue Racer Midstream Lands Utica Customers
Monday, January 27, 2014DALLAS -- Blue Racer Midstream LLC, a joint venture between Dominion and Caiman Energy II, announced today that it has entered into long-term agreements with some of the leading oil and gas producers now operating in eastern Ohio's Utica shale.
Blue Racer reported that it has signed agreements with producers Chesapeake Energy Inc., Eclipse Resources, Hess Corp., Total Gas & Power North America, Rex Energy Corp. and EnerVest.
Hagan Advocates 7.5% Tax on Shale Drillers
Tuesday, January 21, 2014COLUMBUS, Ohio -- State Rep. Robert F. Hagan (D-Youngstown) pushed his colleagues Tuesday to consider a measure that would reflect competitive tax rates on gas and oil companies while returning the revenues to local communities. "The bill stands in stark contrast to the leading GOP proposal," Hagan says, "a measure that is widely thought to undervalue the state’s natural resources and use the revenue for a tax break that favors the most affluent Ohioans."