From the Marcellus Drilling News:
A quarterly mergers & acquisitions report by PwC (PricewaterhouseCoopers LLP) shows the Marcellus and Utica Shale regions were respectively the second and third most popular locations for big M&A deals for the first quarter of 2013. Just three deals totaling $882 million happened in the Marcellus alone…
Mergers, acquisitions and partnerships that happened across Appalachia’s gas fields were enough to make the Marcellus Shale and the Utica Shale the country’s second- and third-most popular formations for big-ticket deals in the first quarter of 2013, according to an analysis released Wednesday by PwC.
The report found three transactions totaling $882 million in the first three months of the year related to development in Pennsylvania’s Marcellus Shale gas fields, about the same amount spent during the same quarter one year ago.
The analysis studied energy mergers and transactions nationwide worth more than $50 million. Those deals can include acquisitions, investments or partnerships that allow companies to split the costs associated with oil and gas development.
Two deals in Ohio’s Utica Shale formation were worth $283 million, more than double the $112 million spent there in the first quarter of 2012.
Only the Eagle Ford formation in Texas saw more transactions during the quarter, with five deals worth $5.1 billion. The Bakken Shale of North Dakota had one deal worth $513 million.
Overall, the quarterly report prepared by the New York-based firm found a nationwide total of 39 oil and gas deals each worth more than $50 million. In total, the energy sector spent $27 billion on deals in the first quarter — a slight year-over-year increase from 2012′s $25.7 billion.
But on a sequential basis, the amount spent dropped about 52 percent from the fourth quarter of 2012. Researchers said the fourth quarter is traditionally a busy one, and last year was a unique case as companies rushed to make deadlines related to the fiscal cliff legislation.
Foreign interest in American oil and gas development dropped during the first quarter, with nine deals worth a total of $4.1 billion involving international buyers. That’s down about $1.8 billion from last year.*
Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.
Rig Count Interactive Map by Baker Hughes, an energy services company.
Shale Sheet Fracking, a Youngstown Vindicator blog.
The Ohio Environmental Council, a statewide eco-group based in Columbus.
Earthjustice, a national eco-group.
People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.
Concerned Citizens of Medina County, a grass-roots group.
No Frack Ohio, a Columbus-based grass-roots group.
Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.
Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.
Allegheny Front, environmental public radio for Western Pennsylvania.