Shale News

Drillers helping boost AEP in Ohio, West Virginia, Oklahoma and Texas

Growth in shale country continues to buoy industrial sales for American Electric PowerCompany Inc.

The company notched double-digit year-over-over growth in industrial sales where shale drilling is taking place for the fifth-consecutive quarter.

Meanwhile, industrial sales in non-shale counties continues to lag far behind. There was negative growth in at least the last six quarters, although the company did record 1.1 percent growth in the third quarter,which it announced Thursday.

Sales grew 28 percent in shale areas.

TAYO Activity in West Texas Cline Shale Region Comes Ahead of Near-Record Construction Numbers

HOUSTON--(BUSINESS WIRE)--Two prime acquisitions by Taylor Consulting Inc. (OTCBB:TAYO), due diligence on another and a strategic purchase agreement to acquire a West Texas real estate broker in one of the hottest areas in the country come just ahead of near-record construction numbers in Abilene, Texas.

“So impressive construction and home sales numbers coming on the heels of our most recent activity in the area spur us to continue our strategy there, which is to continue to expand our real estate portfolio through the fourth quarter and beyond.”

10 highest paying jobs in the Marcellus and Utica region

A recent report has detailed the 10 highest paying jobs in the Marcellus and Utica Shale regions.

Advancements in horizontal drilling and the development of unconventional shale plays such as the Marcellus and Utica has been driving the economy in the northeast to exponential growth. The region currently has one of the lowest unemployment rates in the nation and over the past few years there has been a surge of new jobs being created, not only within the oil and gas industry, but with associated industries like construction and manufacturing.

Well produces well

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," said Carr, the Marshall Miller professor of geology at West Virginia University.

North Dakota: $200M, 20,000-barrel-a-day oil refinery could get green light

DEVILS LAKE, N.D. -- A $200 million, 20,000-barrel-a-day clean fuels oil refinery could be operating near Devils Lake within three years.

The refinery, similar to one being built in Dickinson, would employ about 100 people and could create as many as 400 spin-off jobs in the area, according to Rachel Lindstrom, executive director of Forward Devils Lake, the region's economic development agency.

"It's very exciting for Devils Lake," she said, "a great opportunity."

Devils Lake City Commission approved a letter of support for the project this week.

Wilbur Ross Sees Gains in Texas Shale as Venezuela Struggles

Wilbur Ross, the investor who’s made billions betting on on-out-favor industries, is bullish on Texasoil after its recent tumble.

“We don’t think oil goes a lot lower than where it is on a sustained basis,” Ross, a turnaround financier and chairman of WL Ross & Co., said yesterday at an event in New York.

Texas, Louisiana Gear Up for $117 Billion in Project Starts in 2015, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwired - Oct 21, 2014) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Industrial Info is tracking industrial projects valued at approximately $117 billion that are currently planned to kick off in Texas and Louisiana in 2015. While all industries are showing activity in the area, Oil & Gas Production (including liquefied natural gas projects), Chemical Processing and Power represent the dominant industries in the two states.