Big Oil Companies Face Growing Concerns Over Fracking - GoHaynesvilleShale.com2024-03-29T15:11:32Zhttps://gohaynesvilleshale.com/forum/topics/big-oil-companies-face-growing?commentId=2117179%3AComment%3A1928239&feed=yes&xn_auth=noSesport,
In the article you…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19293812011-05-30T17:58:25.179Zdbobhttps://gohaynesvilleshale.com/profile/dbob
<p>Sesport,</p>
<p> </p>
<p>In the article you linked titled "Methane contamination of drinking water accompanying gas-well drilling and hydraulic fracturing " is a correlative study in which the authors readily admit "<strong>We found no evidence for contamination of drinking-water samples with deep saline brines or fracturing fluids</strong>. "</p>
<p> </p>
<p>There are a number of technical issues that the paper comes up short on, namely describing how they selected their test wells and the…</p>
<p>Sesport,</p>
<p> </p>
<p>In the article you linked titled "Methane contamination of drinking water accompanying gas-well drilling and hydraulic fracturing " is a correlative study in which the authors readily admit "<strong>We found no evidence for contamination of drinking-water samples with deep saline brines or fracturing fluids</strong>. "</p>
<p> </p>
<p>There are a number of technical issues that the paper comes up short on, namely describing how they selected their test wells and the non-random nature of that selection. </p>
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<p>The technical paper below gives a good overview of issues with methane in wells, including from oil and gas wells. Note that it predates Marcellus development by several years... </p>
<p><a href="http://arblast.osmre.gov/downloads/Mine%20Gases%20and%20Dust/FINAL-Methane.pdf" rel="nofollow">http://arblast.osmre.gov/downloads/Mine%20Gases%20and%20Dust/FINAL-...</a></p>
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<p>So lets not pretend the paper from the researchers at Duke indicates that thermogenic methane in waterwells is a side effect of hydraulic fracturing. </p> http://fuelfix.com/blog/2011/…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19292862011-05-30T16:16:39.267Zjffree1https://gohaynesvilleshale.com/profile/jffree1
<p><a href="http://fuelfix.com/blog/2011/05/24/fuelfix-qa-el-pasos-foshee-says-spinoff-solely-our-decision/" target="_blank">http://fuelfix.com/blog/2011/05/24/fuelfix-qa-el-pasos-foshee-says-spinoff-solely-our-decision/</a></p>
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<p><strong>FuelFix</strong>: The announcement today seemed to catch some analysts by surprise. Why do it now?</p>
<p><strong>Foshee</strong>: When we started down this road we frankly didn’t know if the market would properly value our franchise together or…</p>
<p><a href="http://fuelfix.com/blog/2011/05/24/fuelfix-qa-el-pasos-foshee-says-spinoff-solely-our-decision/" target="_blank">http://fuelfix.com/blog/2011/05/24/fuelfix-qa-el-pasos-foshee-says-spinoff-solely-our-decision/</a></p>
<p> </p>
<p><strong>FuelFix</strong>: The announcement today seemed to catch some analysts by surprise. Why do it now?</p>
<p><strong>Foshee</strong>: When we started down this road we frankly didn’t know if the market would properly value our franchise together or properly value it apart.</p>
<p>What we discovered over the last six to 12 months is even though our share price performed really well — in 2010 we were No. 99 on the S&P 500 and this year-to-date we’re in the top 10 – we didn’t feel like it reflected the intrinsic value of the company. So we concluded we were more likely to get correct a valuation with two independently traded companies.</p>
<p><strong>FuelFix</strong>: How much of a role <a href="http://online.wsj.com/article_email/SB10001424052748704281504576327654212549870-lMyQjAxMTAxMDIwNDEyNDQyWj.html" target="_blank">did investor pressure</a> play on making this decision?</p>
<p><strong>Foshee</strong>: Saying that we got pressured into doing this is like saying I have to tell my 9-year-old daughters to eat their ice cream.</p>
<p>We’ve been working on this and the possibility for a really long time, with lots of discussions with our board, so we were just thrilled to be able to announce it. This was solely our decision, the management team and a very independent board.</p> I could have read the whole t…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19292492011-05-30T15:36:47.002ZTwo Dogs, Piratehttps://gohaynesvilleshale.com/profile/ThomasRScarbrock
I could have read the whole thing wrong and my brain works different than most folks (ADHD) but don't you think this split will put E&P in position for a takeover by one of the big boys?
I could have read the whole thing wrong and my brain works different than most folks (ADHD) but don't you think this split will put E&P in position for a takeover by one of the big boys? Maybe the gas drilling busine…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19292622011-05-30T15:29:30.767ZP.G.https://gohaynesvilleshale.com/profile/PG
Maybe the gas drilling business is too wide open...mega regulation would whittle down the players....
Maybe the gas drilling business is too wide open...mega regulation would whittle down the players.... The argument for fracking is…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19291802011-05-30T14:05:26.579ZMaxhttps://gohaynesvilleshale.com/profile/Max
<p>The argument for fracking is out there. </p>
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<p>The problem, the amount of money that would have to be spent to do the PR and have the average citizen become aware of the truth and change their mind. The average citizen doesn't have a gas well bringing in $$$ to their pockets, so the environment trumps everything. They're energy ignorant and don't understand that this country can't go 'green' overnight. </p>
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<p>The oil and gas industry has got to change some of the ways…</p>
<p>The argument for fracking is out there. </p>
<p> </p>
<p>The problem, the amount of money that would have to be spent to do the PR and have the average citizen become aware of the truth and change their mind. The average citizen doesn't have a gas well bringing in $$$ to their pockets, so the environment trumps everything. They're energy ignorant and don't understand that this country can't go 'green' overnight. </p>
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<p>The oil and gas industry has got to change some of the ways they do business. When the TV has pictures of Flipper covered in oil and gasping for breath, that's what I call "A Pitch Fork" moment. The fracking crowd dumping waste water into sewer plants and rivers, and not telling people what's in the waste, because it's a secret formula and don't want other companies finding out what they use, people don't like it. They'll jump on the other bus every time. </p> How can knowledgable people l…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19291182011-05-30T12:56:22.077Zur dern tootin'https://gohaynesvilleshale.com/profile/SGT_John_M_Stryker
<p>How can knowledgable people like the GHS crowd simply sit by and let this fraud (that hydraulic fracturing is somehow "dangerous" ) continue to persist? Fracking is NOT dangerous to water and is so recognized and acknowledged by scientific experts. Everyone on this thread seems to simply be willing to sit by and let the oil/gas companies be subject to going down the economic tube! Ugh! This misinformation is a result of Appalachian/Marcellus propaganda. </p>
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<p>How can knowledgable people like the GHS crowd simply sit by and let this fraud (that hydraulic fracturing is somehow "dangerous" ) continue to persist? Fracking is NOT dangerous to water and is so recognized and acknowledged by scientific experts. Everyone on this thread seems to simply be willing to sit by and let the oil/gas companies be subject to going down the economic tube! Ugh! This misinformation is a result of Appalachian/Marcellus propaganda. </p>
<p> </p> sesport, the first link you l…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19291032011-05-30T12:26:43.670ZMaxhttps://gohaynesvilleshale.com/profile/Max
<p>sesport, the first link you listed from msnbc was dated 6-2008. In the article was the prediction of oil prices dropping by half and investors loosing a lot of money. That happened. </p>
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<p>With this new scare, fracking, where do you think NG prices will go if sell, sell, sell comes around again?</p>
<p>sesport, the first link you listed from msnbc was dated 6-2008. In the article was the prediction of oil prices dropping by half and investors loosing a lot of money. That happened. </p>
<p> </p>
<p>With this new scare, fracking, where do you think NG prices will go if sell, sell, sell comes around again?</p> GULP! The activists are much…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19289352011-05-30T06:32:50.276ZStevewhttps://gohaynesvilleshale.com/xn/detail/u_2nei4v29wy6wy
<p>GULP! The activists are much better organized and supported than I thought! We are talking about billions of dollars worth of shares used to fight natural gas from pension funds.</p>
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<p>The NY State retirement fund is very influential. More funds will follow their lead. Pension fund managers tend to be strongly herd oriented. My state's pension fund is guided by the "prudent person rule" (which often means they go with the herd) You don't invest in something that a "prudent…</p>
<p>GULP! The activists are much better organized and supported than I thought! We are talking about billions of dollars worth of shares used to fight natural gas from pension funds.</p>
<p> </p>
<p>The NY State retirement fund is very influential. More funds will follow their lead. Pension fund managers tend to be strongly herd oriented. My state's pension fund is guided by the "prudent person rule" (which often means they go with the herd) You don't invest in something that a "prudent person" would not invest in. In the case of NG the activist have the double play of natural gas not being very profitable right now.</p>
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<p>Shareholder resolutions on tobacco, divestiture from Isreal and environmental issues come up all the time in corperate annual meetings. 25 years ago I followed these votes, but I never saw anything close to 30% of shares voted of any company, much less a giant like Exxon-Mobil. I've never seen an activists shareholder vote approaching 30% in any large company.</p>
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<p>"<em>The ExxonMobil proposal is part of a campaign by more than a dozen investor groups – including the <span class="xn">$110 billion</span> <span class="xn">New York State</span> Common Retirement Fund – that contacted 20 natural gas companies. Shareholder resolutions have been filed at 10 companies including Cabot Oil & Gas Corp., Chesapeake Energy, EOG Resources, Hess Corporation, and Ultra Petroleum.</em></p>
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<p><em>The <span class="xn">Cabot</span> and EOG proposals, both filed by Green Century Capital Management of <span class="xn">Boston</span>, received support from the holders of 36 percent and 31 percent of shares, respectively. Typically, first-time environmental resolutions get 5 to 7 percent, and shareholder advocates consider anything over 10 percent a success, as that level of support is often enough to change a company's practices</em>."</p>
<p> </p> I didn't see anything about t…tag:gohaynesvilleshale.com,2011-05-30:2117179:Comment:19285302011-05-30T00:44:34.290Zjffree1https://gohaynesvilleshale.com/profile/jffree1
<p>I didn't see anything about them selling the E&P but I did see that they were splitting the company into two separate publicly traded entities. Do you really think that is why they chose to do this? The release claimed it was because the pipeline group and the E&P group needed different management strategies and financial arrangements.</p>
<p>Not doubting you, TD. Just trying to understand how these things work.</p>
<p>I didn't see anything about them selling the E&P but I did see that they were splitting the company into two separate publicly traded entities. Do you really think that is why they chose to do this? The release claimed it was because the pipeline group and the E&P group needed different management strategies and financial arrangements.</p>
<p>Not doubting you, TD. Just trying to understand how these things work.</p> Look at El Paso this past wee…tag:gohaynesvilleshale.com,2011-05-29:2117179:Comment:19284812011-05-29T23:18:49.455ZTwo Dogs, Piratehttps://gohaynesvilleshale.com/profile/ThomasRScarbrock
Look at El Paso this past week where some fund that owned about 4% (I Think) wanted to divest El Paso E&P. A couple of days later El Paso said they were going to sell off E&P and concentrate on the pipeline end of the biz.
Look at El Paso this past week where some fund that owned about 4% (I Think) wanted to divest El Paso E&P. A couple of days later El Paso said they were going to sell off E&P and concentrate on the pipeline end of the biz.