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Drilling Down
44 Potential Buyers for Bankrupt D&L's Assets
Monday, October 14, 2013YOUNGSTOWN, Ohio -- D&L Energy Inc. says the company it hired to market its assets has received signed confidentially agreements from 44 potential bidders and wants U.S. Bankruptcy Court to approve an auction Nov. 13.
D&L filed for bankruptcy reorganization in April after its employees were caught illegally dumping brine waste into a sewer drain at its Salt Springs Road headquarters, and criminal charges were filed. In court documents, the company stated it owes more than $5.2 million to its 20 largest creditors.
McClendon Company Raises $1.7B to Explore Utica
Thursday, October 10, 2013OKLAHOMA CITY -- American Energy-Utica LLC, an affiliate of American Energy Partners LP, announced Wednesday that it has raised some $1.7 billion to fund oil and gas exploration across the Utica shale in eastern Ohio.
The company, founded by former Chesapeake Energy Corp. chairman and CEO Aubrey McClendon, said that The Energy & Minerals Group is lead equity investor in the venture. First Reserve Corp. and AEU management provided additional equity financing.
Halcon Gets Permit for New Well in Jackson Township
Wednesday, October 09, 2013YOUNGSTOWN, Ohio -- The Ohio Department of Natural Resources issued just one permit for a horizontal well last week for exploration in the Utica shale in eastern Ohio -- and it's for a property in Mahoning County.
Halcon Operating Co. Inc. was awarded a permit Oct. 4 to drill a new horizontal well in Jackson Township on the Grenamyer farm, according to ODNR data.
It is the second such permit that Halcon has obtained for a site in Mahoning County. An earlier well was drilled in Jackson Township on the Davidson property, records show.
New Permit Issued for Kibler Well in Lordstown
Friday, October 04, 2013YOUNGSTOWN, Ohio -- The Ohio Department of Natural Resources has issued a second permit to Halcon Resources so it can drill a new horizontal well at its Kibler pad in Lordstown, according to agency data.
ODNR issued the second permit Sept. 24, and is the 10th horizontal permit issued this year in Trumbull County and the 12th overall in the county since 2012.