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West Virginia's largest bank with headquarters located within the state, Wesbanco Bank, says royalty payments are only now beginning to come into play for bank deposits in the Marcellus/Utica shale gas areas. Since nearly 80% of their corporate footprint is in areas heavily impacted by those deposits, their analysts figure that their more than $6 billion in assets will get a large boost in the coming years.
New Natural Gas Pipeline to Start in Clarksburg Area
A new natural gas pipeline that will take natural gas from the Marcellus/Utica shale plays to the southeast, and will cost up to $5 billion to construct, will go from Harrison County through the Shenandoah Valley to the Carolinas.
A new natural gas pipeline that will take natural gas from the Marcellus/Utica shale plays to the southeast, and will cost up to $5 billion to construct, will go from Harrison County through the Shenandoah Valley to the Carolinas.
Thx, interesting. I would just add this excerpt from the very end of the linked column:
"The pipeline requires approval from the Federal Energy Regulatory Commission and state regulatory commissions. The pipeline partners expect to receive approval by mid-2016 and to start operating the pipeline in 2018."
State of WV Accepting Bids to Drill for Gas/Oil Under Ohio River
Governor Tomblin has opened up state owned natural resources under the Ohio River for drilling operations as long as drillers are willing to pay 20% royalties on extracted resources plus per acre lease fees. Although I have a problem with the state taking money from resources in a specific part of the state and spending it elsewhere, it could logically be done as long as the affected counties were paid the customary severance money.
Northern WV Oil and Gas Wells Have Far Greater Potential Than Perviously Thought
I hope this comes through now that they seem to be charging for just about everything in the newspapers via internet. Reports indicate that northern West Virginia oil and gas drilling may yield far more results than previously believed possible due to unexpected Utica results.
"Tim Carr believed a Monroe County Utica Shale well producing 38.9 million cubic feet of natural gas per day last year was big.
That was until he learned of the 46.5 million cubic feet pumping daily at the Magnum Hunter Stewart Winland well in Tyler County.
"I do not know what we will do with all the gas. Always want to wait and see what the decline is, but these numbers are off scale," Carr, the Marshall Miller professor of geology at West Virginia University, said." ...
They are predicting employment growth because of these developments.
That's good to hear, I have often thought of moving back to West Virginia. I am working on getting my CDL A.
Last edited by etek; 10-21-2014 at 05:33 PM..
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New Natural Gas Pipeline to Start in Clarksburg Area
