Drilling Down
Gulfport Focuses on Drilling Multiple Wells at Sites
Thursday, February 28, 2013YOUNGSTOWN, Ohio – Oklahoma City-based Gulfport Energy Corp. says that net production of oil and gas wells it’s drilled in eastern Ohio's Utica shale should surpass production in other regions of the country as the company homes in on what it believes to be the richest part of the play.
"By mid-April, our Utica assets are forecasted to be generating more net production than our other existing areas," said Michael Moore, senior vice president and chief financial officer, during a conference call with analysts Wednesday.
Whose Waste Was It? ODNR Reviews D&L Logs
Wednesday, February 27, 2013YOUNGSTOWN, Ohio -- More than two weeks after federal authorities charged D&L Energy owner Ben Lupo with violating the Clean Water Act, the question remains: Whose waste was it?
And nearly a full month after D&L employees were caught illegally discharging drilling wastewater into a storm drain that flows into a tributary of the Mahoning River, authorities from the Ohio Department of Natural Resources have yet to determine -- or disclose -- precisely which companies generated the waste.
One Year After Earthquakes, New Injection Wells
Wednesday, February 27, 2013YOUNGSTOWN, Ohio -- For almost a year, Robert Barnett waited. The Ohio Department of Natural Resources, spooked by earthquakes in the Mahoning Valley it tied to D&L Energy Inc.’s injection well in Youngstown, stalled the awarding of any new permits for wastewater disposal sites -- including his, he claims.
“They just put a moratorium on everything,” he says. “Basically, it was because of the earthquakes.”
Report Tells How Shale Gas Is Transforming Industry
Wednesday, February 27, 2013NEW YORK -- On the heels of record-low natural gas prices, a new report has focused on how the shale gas activity will affect North American companies and the economy. The report, from RBC Capital Markets and the Economist Intelligence Unit, examines how the surge in unconventional gas production is transforming sectors such as energy and transportation. It is based on a survey of industry executives and investors.
Chesapeake Announces $1B JV with Chinese Company
Tuesday, February 26, 2013OKLAHOMA CITY – Chesapeake Energy Corp. announced Monday a joint venture with Sinopec International Petroleum Exploration and Production Co. that calls for the Chinese company to buy 50% of Chesapeake's stake in the Mississippi Lime basin for $1.02 billion in cash.
Under the agreement, Sinopec would acquire 425,000 of Chesapeake's 850,000 leasehold acres in the Mississippi Lime play in northern Oklahoma.