From the American Petroleum Institute late last week:
WASHINGTON, October 16, 2014 – Estimated U.S. natural gas well completions increased by 3 percent in the third quarter of 2014 compared to year-ago levels, according to API's 2014 Quarterly Well Completion Report, Third Quarter.
“America’s oil and natural gas industry increased natural gas drilling in the third quarter thanks in large part to access on private and state lands,” said Hazem Arafa, director of API's statistics department. “Additional access to our own vast energy resources and streamlined federal permitting would allow for more opportunities to produce U.S. energy while creating more American jobs and generating more revenue for our government."
Total oil well drilling increased 1 percent in the total year-to-date figures for 2014, according to the report, and exploratory oil wells increased 12 percent for the 3rd quarter. Total gas drilling decreased over the same time frame, resulting in the total well completions for year-to-date 2014 remaining steady.
The recent drop in oil prices is producing a $500 savings for each American household, as the price oi oil has dropped 50 cents a gallon at the pump since last April's highest pump prices.
The reason: shale drilling.
Click here to read the full story from Bloomberg News.To read more or comment...
Texas-based Kinder Morgan's Natural Gas Pipeline Co. of America LLC has kicked off an open season to sign up customer for a new $100 million natural gas pipeline to serve the Chicago area with gas from the Utica and Marcellus shales.
The pipeline would run northward from an interconnection with the existing Rockies Express Pipeline in Moultrie County, Ill.
The new line could be service by November 2016.
Click here to read the company's statement.To read more or comment...
From Antero Resources on Thursday:
DENVER, Oct. 16, 2014 /PRNewswire/ -- Antero Resources Corporation (NYSE: AR) ("Antero" or the "Company") announced today that the borrowing base under its bank credit facility has been increased to $4.0 billion. This represents a $1.0 billion increase over Antero's previous borrowing base announced in May 2014. In addition, lender commitments under the facility were increased by $500 million to $3.0 billion. The $3.0 billion commitment can be expanded to the full $4.0 billion borrowing base upon bank approval.
The bank syndicate, which is co-led by JPMorgan Chase Bank, N.A. and Wells Fargo Bank, N.A., was expanded to add five banks increasing the number of participants to 26 banks. As of June 30, 2014, and adjusted for this borrowing base and lender commitment increase, Antero had $1.2 billion drawn under the credit facility and $237 million in letters of credit outstanding, resulting in $1.5 billion of available liquidity and over $2.5 billion of unused borrowing base capacity. The next redetermination of the borrowing base is scheduled to occur in the second quarter of 2015.To read more or comment...
Federal Reserve Bank of Cleveland research analyst Matthew Klusta looks at how communities affected by shale drilling should begin planning for what happens after the drilling ends in the latest issue of Forefront magazine.
Click here to read the story.To read more or comment...
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.