Today's DMN has an article discussing the reasons that production companies have put a stop to the $25K leasing bonuses. It goes on to state that furthermore, many have stopped leasing altogether and are moving their rigs to the Haynesville Shale near Shreveport.
http://www.dallasnews.com/sharedcontent/dws/dn/latestnews/stories/102608dnbusbarnett.3cec988.html
One section of the article, in particular caught my eye: [the highlights are mine]
On top of the global economic troubles, Chesapeake faces neighborhood protests and new restrictions on urban drilling. The company chose to retreat to the areas that have already welcomed its rigs.
"When you have so much opportunity and so much clamoring, it doesn't make sense to work in areas that are onerous to do business in," Ms. Wilson said. [Ms. Wilson is Chesapeake's VP of Corporate Development.]
It's good to know that they've heard us. It doesn't mean the battle is over, but I think we should take some comfort in knowing that fighting urban drilling at the local level has had some very positive results.
So, just call me "onerous" (and proud of it)!
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2 comments:
And in your efforts to be "onerous" (and proud), you stomp all over the rights of your neighbors to decide for themselves. You should be ashamed of what this group has done to force a business (and opportunities) out of our town. On the other hand, it sounds like you're quite proud of your elitest attitude and actions. Pathetic, really.
Do you really think that the fact that you are protesting has ANYTHING to do with the "retreat"?
You are completely and utterly wrong.
It has everything to do with the fact that the economy is in the shitter, companies cannot access capital nearly as easily as they could only months ago, deals are not being sold, oilfield service companies are not yet moving down on their prices on a large enough scale, and to top it off.... The dismal commodities price deck that we now enjoy.
Do you REALLY think that you have anything to do with it?
I'll let you in on a little secret- You do not.
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