Tuesday, May 8, 2012

Penn. Marcellus News Update, 5/8/12

The feed is a bit lean today on Pennsylvania-centric news.
Couple denied mortgage because of gas drilling
The drilling goes on day and night at a new Marcellus Shale well in Daisytown, Washington County, and Brian Smith told Channel 4 Action News investigator Jim Parsons that he has no complaints -- except one.
"As far as drilling and the noise and the lights in the window? No," he said. "But when it affected the value of my home? Absolutely."
The Smiths live across the street from the new gas well. They applied for a new mortgage on their $230,000 home and hobby farm, and Quicken Loans congratulated them on their conditional approval.
"They said all the paperwork will be done by the end of the week and we'll be able to close," Brian Smith said. "Somewhere in there, they called us and said, 'Your loan got denied.' "
In an email, Quicken Loans told the Smiths, "Unfortunately, we are unable to move forward with this loan. It is located across the street from a gas drilling site." Two other national lenders also turned down Brian Smith's application. (hat tip to FrackAction for posting this on Twitter).
Op-Ed: Are the Feds Intent on Fouling Fracking?
On page two of Friday's Journal there appears a piece entitled "U.S. to Set Rules for Fracking on Federal Land." As the headline implies, within a matter of days the Interior Department will advance "sweeping new environmental-safety rules for hydraulic fracturing on federal land, setting a new standard that natural-gas wells on all lands eventually could follow."
That's hardly a shocking development. The current administration is usurping almost daily functions that heretofore were within the provinces of the states.
MarkWest Energy Partners Announces Acquisition of Keystone Midstream Services in Liquids Rich Area of Marcellus Shale...
MarkWest Energy Partners, L.P. (MarkWest) MWE -0.16% today announced that it is acquiring 100% of the ownership interests of Keystone Midstream Services, LLC (Keystone), for consideration of $512 million. The transaction is expected to close during the second quarter of 2012. 
Pennsylvania's acid mine water seen as drilling help
Pennsylvania has a vast supply of contaminated water flowing daily from its abandoned mine works; 300 million gallons a day by the state's estimate.
The natural gas industry needs vast quantities of water to unlock gas from the Marcellus Shale; between 2 million and 10 million gallons to stimulate a well a single time.
Using the state's latest natural resource boom to clean up the legacy of the last one seems like a natural pairing, and it's one state and environmental regulators as well as the natural gas drilling industry are taking seriously.
At the suggestion of the Governor's Marcellus Shale Advisory Commission last year, the state Department of Environmental Protection is in the process of establishing an approval process for the use of acid mine drainage in hydraulic fracturing.

No comments:

Post a Comment