Drilling Down
Consol Outlines Drilling Plans at Pittsburgh Airport
Tuesday, August 27, 2013PITTSBURGH -- Consol Energy Inc. could drill as many as 47 Marcellus shale wells on six well pads on property at the Pittsburgh International Airport, and then drill into the Upper Devonian shale formation from the same well pads, the company announced this morning.
Consol has entered into a 20-year, $46.3 million lease with the Allegheny County Port Authority that enables the company to drill on airport land. Should the wells prove profitable, the port authority ultimately could receive $500 million in royalties, officials estimate.
Study Finds Sales Tax Gains, Scant Job Creation in Utica
Monday, August 26, 2013YOUNGSTOWN, Ohio – A study conducted by the Maxine Goodman Levin College of Urban Affairs at Cleveland State University finds that oil and gas exploration is spurring wealth across those counties where drilling is most active. The study also found that job creation in the Utica, hampered by several factors, has yet to catch fire.
The authors, Edward W. (Ned) Hill and Kelly L. Kinahan, compare counties considered "strong" shale areas with those moderate, weak or nonshale counties in Ohio.
Conference to Explore Impact of 'Wet' Gas Market
Friday, August 23, 2013YOUNGSTOWN, Ohio -- The first phase of oil and gas exploration in the Marcellus and Utica shale plays hit several years ago with a windfall of sizeable leases and billions of dollars in bonus money paid to landowners throughout western and central Pennsylvania and eastern Ohio.
A second phase, now in full swing, is characterized by massive investment from energy midstream companies drilling and developing a vast infrastructure to transport natural gas to markets around the world.
Former NiSource Executives Form Century Midstream
Friday, August 23, 2013YOUNGSTOWN, Ohio -- A newly formed company that builds midstream assets for the oil and gas industry believes the Utica shale in eastern Ohio holds enormous potential for the long term. And it wants to be front and center when activity accelerates in the underdeveloped liquid-rich regions of the play.
“There are several big players who haven’t chosen what path to take,” says Joe Blount, CEO of Century Midstream LLC. “There’s opportunity to come.”