Energy Tomorrow Blog
Surging Energy = Surging Investment and Jobs
shale energy marcellus natural gas investments income hydraulic fracturing horizontal drilling
Mark Green
Posted October 15, 2014
Natural gas production in the Marcellus Shale continues to surge – and with it, industry spending on construction and maintenance, according to a new study.
The latest drilling productivity report from the U.S. Energy Information Administration (EIA) projects Marcellus natural gas output will hit 15,828 million cubic feet per day (mcf/d) or about 37.1 percent of production from the major U.S. shale plays. EIA expects Marcellus output will top 16,000 mcf/d in November.
The production gains are reflected in industry spending on workers in construction and maintenance from 2008 to 2014 – the subject of the new study by the Oil and Natural Gas Industry Labor-Management Committee. The study showed spending grew more than 60 percent between 2012 and 2013, reaching $5 billion, resulting in a 40 percent increase in jobs in eight trades (union and non-union members included). Another $6.5 billion already is committed for 2014, the study reports.
Energy Today – June 13, 2013
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Mary Schaper
Posted June 13, 2013
Wall Street Journal – U.S. Oil Notches Record Growth
In the latest sign that the shale revolution is remaking world energy markets, the WSJ cites BP’s 2012 Statistical Review showing crude production in the U.S. jumped 14 percent last year to 8.9 million barrels a day. (subscription publication).
Pittsburgh Post-Gazette – Pennsylvania to See $202.47 Million in Per-Well Fracking Impact Fees
A new Pennsylvania Public Utility Commission report notes that more than $200 million from hydraulic fracturing impact fees will be distributed to local governments across the state. Bradford County in the state's northeast will collect the most at $7.3 million while Washington is second at $4.7 million. Lycoming and Tioga counties follow with $4.4 million each.
Energy Today – June 11, 2013
fracking hydraulic fracturing marcellus natural gas royalties oil
Mary Schaper
Posted June 11, 2013
Pittsburgh Business Times – Marcellus Royalties Rising
The newspaper reports on a study by the Allegheny Institute for Public Policy showing that royalty income paid to land and mineral rights owners in Marcellus Shale play has skyrocketed in recent years, from an estimated $10.9 million in 2008 to an estimated $731 million last year.
MSN Money – Meet the State with America’s Strongest Economy
Thanks to the surge in hydraulic fracturing and shale development in North Dakota, the state’s GDP rose 13.4 percent in 2012 over 2011 to lead the U.S. Per capita personal income also has soared, doubling since 2000.
New Study: Marcellus Shale = 280K New Jobs, $6 Billion Revenue
domestic energy hydraulic fracturing marcellus marcellus natural gas marcellus production natural gas new york penn state natural gas study pennsylvania natural gas west virginia economic impacts of marcellus
Jane Van Ryan
Posted July 21, 2010