Drilling Down

US Chamber Calls for Release of Fracking Study

WASHINGTON – The U.S. Chamber of Commerce is calling on the University of Cincinnati to release a study that reportedly shows that hydraulic fracturing doesn’t contaminate ground water. The three-year study analyzed wells across Carroll County, where most of the hydraulic fracturing and horizontal drilling has occurred in Ohio’s Utica shale. In February, participants in […]

Former Chesapeake CEO McClendon Killed in Car Crash

YOUNGSTOWN, Ohio – Aubrey McClendon, the wildcat driller and former CEO of Chesapeake Energy Corp., was killed wednesday morning in a car crash one day after he was indicted by the federal government for allegedly rigging bids to buy oil and gas leases in Oklahoma. A video of a press conference posted on the Oklahoma […]

Gulfport Secures Four Permits in Utica

YOUNGSTOWN, Ohio – Oklahoma City-based Gulfport Energy Corp. secured four new horizontal drilling permits for new wells in the southern tier of the Utica shale last week, according to the latest data from the Ohio Department of Natural Resources. ODNR awarded Gulfport permits for wells in York Township, Belmont County. The rig count in the […]

McClendon Accused of Conspiring to Rig Bids

OKLAHOMA CITY – Aubrey McClendon, the former CEO of Chesapeake Energy Corp. was charged Tuesday with conspiring to rig bids to buy oil and gas leases in Oklahoma. The indictment was handed down by a federal grand jury here. McClendon, forced out of Chesapeake three years ago, is accused of conspiring with an unnamed company […]

Rosy Ohio Shale Jobs Report Overtaken by Events

YOUNGSTOWN, Ohio – A recently released state report that quantifies shale-related employment in Ohio shows the state’s oil and gas industry at a high point – 193,755 jobs. Trouble is the state’s numbers stop at the second quarter of 2015 and do not reflect the impact of low prices of oil and natural gas, the […]

Permits Slow Down in the Utica

YOUNGSTOWN, Ohio – Just two permits for horizontal wells were issued to energy companies during the week ended Feb. 20 in Ohio’s Utica shale, as drillers continue to wrestle with depressed oil and gas prices. The Ohio Department of Natural Resources reports it awarded both permits to Chesapeake Exploration LLC, a subsidiary of Oklahoma City-based […]

Chesapeake Reports $14.9B Operating Loss in 2015

OKLAHOMA CITY –Chesapeake Energy Corp. this morning reported a net loss available to common stockholders of $14.9 billion, or $22.43 per fully diluted share. After adjustments, primarily noncash impairments of carrying value of the company’s oil and gas properties, the full year adjusted net loss was $329 million, or 20 cents per fully diluted share, […]

Investors Pump Chesapeake Amid Takeover Speculation

YOUNGSTOWN, Ohio – Chesapeake Energy Corp., the most prolific oil and gas driller in Ohio’s Utica shale play, is scheduled to release its fourth-quarter and full-year 2015 results before the start of trading tomorrow amid speculation that the Oklahoma City company is a “prime takeover candidate.” The speculation, posted Monday on the Seeking Alpha blog, […]

Gulfport Energy Loses $1.2 Billion in 2015

OKLAHOMA CITY – Gulfport Energy Corp., the largest driller in the southern tier of Ohio’s Utica shale, reports a net loss of $830.9 million for the quarter ended Dec. 31. For the year, Gulfport posts losses of $1.2 billion, as natural gas and oil prices continued their downward spiral into 2016. The company posted revenues […]

Report: Shell Leases Office Space Near Cracker Site

MONACA, Pa. – Royal Dutch Shell plans to lease a 76,000-square-foot building near the site of a proposed ethane cracker plant, according to the Pittsburgh Business Times. The Business Times, citing “an inside source” familiar with the deal, reported Feb. 10 that Shell has reached an agreement to lease the former headquarters of Michael Baker […]

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