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Tuesday, January 24, 2012

Arlington City Council Rejects Chesapeake's Proposed Gas Well Site

The Arlington City Council tonight rejected Chesapeake Energy's request for proposed gas well site. The Rush Creek site would have been located in southwest Arlington. Details are sketchy at this time on the decision to reject the proposed site. The city council has rejected a number of the company's proposals during the past 18 months. Many residents of the proposed site at the corner of South Bowen Road and West Bardin Road had voiced concerns about safety, noise, traffic and the potential environmental impact a site would have on the neighborhood. Stay tuned for a followup on this story as details become available.

The Rush Creek site (Bowen and Bardin) was denied approval by a 7-1 vote. The Truman site in north Arlington was unanimously approved for 2 permits.

Chesapeake Energy to Cut Drilling Production Due to Gas Glut

Chesapeake Energy announces major cutbacks in natural gas exploration after gas prices fall to a 10 year low. A huge surplus of natural gas is another driver in Chesapeake's decision to curtail it's drilling efforts.

Read the entire RIGZONE article by clicking the link below.

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It's Time to Buy Natural Gas!

Interesting article by Motley Fool contributor Sean Williams.
Click on the link below to read his commentary:
It's Time to Buy Natural Gas (CHK, DVN, XOM):

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Monday, January 23, 2012

Devon's Benbrook Federal A, B, C and D Units and Perrone SWD Well

Devon has drilled 35+ horizontal units and 1 salt water disposal well from this padsite.
The facility is located close to the shoreline of Benbrook Lake in Tarrant County.

A large network of pipelines and compression equipment can be observed at the facility.
The skyline of downtown Fort Worth is visible in the distance. Click on the photo to enlarge the image.

Monday, January 16, 2012

Gas Bears Up Bets on ’Catastrophic’ Surplus

Hedge fund "bears" have emerged from hibernation and are on the prowl, as a huge surplus of natural gas continues to further glut the market.
Read the entire Bloomberg article by clicking the link below.

Gas Bears Up Bets on ’Catastrophic’ Surplus - Bloomberg:

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Saturday, January 07, 2012

For Chesapeake, Weak Gas Prices Could Further Quiet Barnett Shale Activity

With currently just 10 rigs drilling in Tarrant county, and one lone drillbit turning in Johnson county, Chesapeake Energy has considerably slowed it's Barnett Shale exploration efforts. In addition to deeply depressed natural gas prices, the Barnett's "dry" gas brings less money at market compared to other shale plays that produce more oil and petroleum liquids.

Click on the following link for the complete Star-Telegram article.