Oil field services giant Schlumberger is cutting another 11,000 jobs due to drilling cutbacks caused by low commodity prices.
That's in addition to 9,000 jobs cut by the firm last January.
The 20,000 jobs cut accounts for 15 percent of the company's work force.
The company is based in Houston, Paris and the Hague. It operates in 85 countruies.To read more or comment...
From the American Petroleum Institute on Thursday:
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File Type: pdf | File Size: 19390To read more or comment...
From the U.S. Energy Information Administration today:
EIA is currently in the process of updating maps of major tight oil and shale gas plays, including the Eagle Ford and Marcellus plays, which will help to better characterize the geology of key areas of production in the United States. EIA's most recent maps focus on shale and tight oil plays, and characterize plays based on geologic characteristics, including rock type and age. Understanding geologic history and processes helps exploration and production companies reduce the risk of drilling dry, nonproducing wells and better understand hydrocarbon resource potentials.To read more or comment...
From the Associated Press:
By ANN SANNER
COLUMBUS, Ohio (AP) — Republican leaders in the Ohio House pulled many of Gov. John Kasich’s tax plans from his state budget proposal, while announcing more money for schools, a smaller state income tax cut and changes to his poverty and health care initiatives.
The revisions to the Republican governor’s $72.3 billion, two-year spending blueprint come after Kasich’s sweeping tax package drew widespread opposition from business groups and state representatives. They disliked the proposed increases on business taxes, oil-and-gas severance taxes and cigarette taxes along with his sales tax increase and expansion.
The House budget plan removes the governor’s major tax changes and creates a commission to review the proposed increases.
Kasich had wanted to use part of the money from the tax increases to cut the state income-tax rate by 23 percent over the next two years, to a top rate of 4.1 percent by 2017.
The plan from the GOP-dominated House, which would fund state operations for the two years beginning July 1, would provide for a 6.3 percent income tax cut beginning in tax year 2015. That would lower the top rate to just below 5 percent. Representatives also want to make permanent a small business tax reduction passed last year.
House Speaker Cliff Rosenberger said he believed in the governor’s long-term vision, but he wanted businesses to have some predictability in their taxes and have time to know what’s coming.
“Ohio’s doing well,” Rosenberger said. “I don’t think there’s a problem to take this opportunity right now to time out a little bit and let everybody catch up.”
House Finance Chairman Ryan Smith said the revisions trim Kasich’s budget by roughly $775 million, but he didn’t specify where the bulk of the difference occurred. “We went through multiple areas and multiple items.”
The House Finance Committee accepted the changes Tuesday afternoon and was scheduled to take testimony on the revisions the rest of this week.
Responding to the House proposal, Kasich spokesman Rob Nichol said in a statement, “The budget is a long process and we will continue to work with lawmakers to move Ohio forward.”
The Ohio Chamber of Commerce signaled its early support for the direction the House tax changes were taking, as did the Ohio Manufacturers’ Association.
State Rep. Denise Driehaus, the House finance panel’s top Democrat, said some of revisions were positive, but noted her side had little time to review them.
House Republicans also revisited Kasich’s education formula and added $179 million to the governor’s proposed school foundation funding.
His proposal gave less money to more than half of public school districts due to changes intended to better reflect a district’s capacity to raise revenue.
House GOP leaders said their plan would ensure that no district would receive less foundation funding over the next two budget years than it did in the current fiscal year.
Representatives will take a closer look at the governor’s efforts to help tackle poverty.
The House wants to spin out into a separate bill Kasich’s proposal to create a more comprehensive approach to address the needs of people receiving public assistance such as food stamps, childcare support, housing aid or cash assistance.
While House Republicans did not attempt to change the governor’s expansion of Medicaid, their plan would strip the ability of state’s Medicaid director to determine eligibility for the program in the future.
“I would think you’d want some input from the General Assembly on the Medicaid eligibility levels,” said state Robert Sprague, who leads a subcommittee that reviewed Medicaid issues. “Otherwise, we have very little control over the program.”
The GOP majority also want the state’s Medicaid agency to seek approval from federal officials to allow for health savings accounts.
Associated Press writer Julie Carr Smyth contributed to this report.
Any increase in Ohio's severance tax on drillers is dead for now, Ohio lawmakers said.
The proposal ran into strong opposition from Republicans in the Ohio House of Representatives.
It had been strongly pushed by Ohio Gov. John Kasich, also a Republican.
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Gulfport Energy announced that it is spending $300 million to acquire Paloma Partners III LLC and its 24,000 acres in the dry gas window in Ohio's Belmont and Jefferson counties.
The announcement came on Wednesday.
Here's what the company said:
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From Greenunter Resources on Wednesday:
GRAPEVINE, Texas, April 15, 2015 (GLOBE NEWSWIRE) -- GreenHunter Resources, Inc. (NYSE MKT:GRH and GRH.PC), a diversified water resource, waste management, environmental services, and hydrocarbon marketing company specializing in the unconventional oil and natural gas shale resource plays within the Appalachian Basin, announced today financial and operating results for the twelve months ended December 31, 2014.
Financial and Operational Highlights
OPERATIONAL RESULTS FOR THE TWELVE MONTHS ENDED DECEMBER 31, 2014To read more or comment...
From the Pennsylvania Department of Environmental Protection on Wednesday:
DEP originally planned a 30-day public comment period for Chapter 78 and 78a, which began on April 4, 2015. On April 6, DEP announced that the public comment period would be extended by an additional 15 days and end on May 19. Three public hearings were also added. The extended public comment period and added hearings will allow more time for citizens to submit written or verbal comments on the changes made to the draft final versions of Chapter 78 and 78a.
Each hearing will begin at 6 p.m. and end at 9 p.m. The dates and locations are as follows:
• April 29 – Washington and Jefferson College, Rossin Campus Center – Allen Ballroom,60 S. Lincoln St., Washington, PA 15301
• April 30 – Warren County Courthouse, 204 4th Ave., Warren, PA 16365
• May 4 – Pennsylvania College of Technology’s Klump Academic Center, 1 College Ave., Williamsport, PA 17701
From Antero Resources:
DENVER, April 15, 2015 /PRNewswire/ -- Antero Resources (NYSE: AR) ("Antero" or the "Company") today announced first quarter 2015 operational highlights:
Operating UpdateTo read more or comment...
From the American Petroleum Institute on Wednesday:
WASHINGTON, April 15, 2015 – A new EPA report shows continued decline in methane emissions from natural gas production, as operators capture and deliver more natural gas to consumers, said API.
“The latest inventory shows that U.S. producers continue to make dramatic improvements, with net methane emissions from natural gas production falling 38 percent since 2005,” said Howard J. Feldman, API senior director of regulatory and scientific affairs. “These voluntary efforts will continue, as operators work to capture more gas and deliver it to consumers. Another layer of burdensome regulations will only interfere with that progress.”
The EPA also reported that methane emissions from hydraulically fractured natural gas wells are down 79 percent since 2005. Total methane emissions from natural gas systems are down 11 percent since 2005.
“Responsible production and use of natural gas is a major reason why U.S. carbon emissions are near a 20-year low,” said Feldman. “We should harness this opportunity to build on that momentum and even export natural gas to our allies, creating more jobs and energy security here at home.”
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 20 million Am
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.