Global Natural Gas Prospects Alliance

NY Broome County deliberates gas deal July 8, 2010.
Broome County would be the recipient of $15.9 million in the latest natural gas deal to lease mineral and surface rights on county-owned land. Their are multiple natural gas formations under New York, however the Marcellus Shale is sited.

Broome County Land: 5,300 acres
Company: Inflection Energy LLC
Inflection’s Chairman | Chief Executive Officer: Mark S. Sexton
Term: 5 Years
Surface Rights: $3000.00 per acre
Royalty Mineral: 20% production
Term Extension: 3 Years
Surface Rights: $3000.00 per acre

Left out is the parcel map of all parcels of land that will be part of this gas deal, Broome County government should release this so the citizens can fully understand. The land Broome County is considering for gas drilling is its citizens land, and Broome County government should have clear and precise information about the offer to make a decision about the deal. Transparency should is everything on this deal and citizens should have full disclosure. Natural gas monies are the citizens, and should directly benefit them.

Dwindling in Broome County are, Capitalism, the Free Market, and Small Business these are all the things that Broome County needs. If and when Broome County signs a deal, the economy and all the citizens should benefit until all the natural gas is depleted.

What a few months can do!
Two deals that went through….here are the details:

Anadrako sells lease on 100,000 Marcellus acres to Mitsui & Co for $14,000 per acre ( Feb 2010)

Atlas sells sells lease on 300,000 Marcellus acres to Reliance Industries for $14,167 per acre ( April 9, 2010)

What was the original lease amount with the landowners of the acreage that was “flipped” in the Anadrako, and Atlas deals? Most likely in many of the cases much, much lower than the “flipped value”.

Broome County considers $3,000.00 per acre. Regardless the extension it is still $3,000 per acre.

$3000.0 * 5300
______________________
Result: $15,900,000.00

If Broome County where to have a deal that was what Mitsui & Co. paid Anadrako per acre the result would be, see result below.

$14000.0 * 5300
______________________
Result: $74,200,000.00

Broome County should lead the way, in the State. This was always and area for opportunity in the past. Broome County should negotiate the deal.

There are articles on this deal in other media outlets, which give more detail. However none of them are sited here.

EPA Plans “Fracking” Public Meetings. The Environmental Protection Agency (EPA) is hosting three public information meetings in Binghamton, NY on Thursday, Aug. 12, 2010 on a proposed study of the relationship between hydraulic fracturing and its potential impacts on drinking water. EPA will solicit public comments on the draft study plan.

The three meetings will be held at the Anderson Performing Arts Center at Binghamton University at 8am to 12pm, 1pm to 5pm and 6pm to 10pm. Stakeholders are requested to pre-register for the meetings at least 72 hours before each meeting.
More information her: http://www.epa.gov/safewater/uic/wells_hydrofrac.html
Online sign up form: http://hfmeeting.cadmusweb.com/RegistrationForm.aspx

In the Wall Street Journal, Amy Myers Jaffe writes about the potential of shale gas.
“In the end, what’s important to understand is that shale gas may be the key to solving some of our most pressing short-term crises, a way to bridge the gap to a more-secure energy and economic future.”
Read More

Wind Turbine, and wind energy are here. The future of wind energy has been complimented with the use of natural gas. Natural gas powered wind turbines are a reality. In areas where wind cannot be relied up on solely natural gas can carry the load. Turbines being fitted with a natural gas engine are suggested to be environmentally friendly. The natural gas can be developed right here in New York or many other states for distribution to Wind Turbines through out the United States. NGWT

Pennsylvania Wants to Tax Marcellus Shale Gas at 5%

HARRISBURG (Reuters) — Energy companies drilling for natural gas in
Pennsylvania’s Marcellus Shale would have to pay a wellhead tax of more than
5 percent under a proposal unveiled on Tuesday by Governor Ed Rendell.

Rendell wants to charge drillers 5 percent of the value of gas at the
wellhead plus 4.7 cents per 1,000 cubic feet of gas taken from the ground,
starting July 1. The plan would raise $160.7 million in the first year and
$1.8 billion over five years.

The “severance” tax is modeled on that used in West Virginia, where gas
production rose 20 percent from 2002 to 2007, indicating that the tax is no
deterrent to development, Rendell said.

The tax proposal must pass the state legislature and could face opposition
in the Senate, which is controlled by the Republicans. The Democrats control
the lower house.

Energy Transfer Partners to Buy Haynesville Shale Assets

NEW YORK (Dow Jones) — Energy Transfer Partners LP (ETP) said Wednesday it
has agreed to buy natural-gas gathering and treating assets in Louisiana’s
Haynesville Shale from Tristate Midstream LP, a company owned by Dallas
private equity firm Energy Spectrum.

The deal is the latest in a string of asset acquisitions related to
shale-rock formations. Gas extracted from these reservoirs has driven a boom
in domestic U.S. gas supplies over the past few years. In December, Exxon
Mobil Corp. (XOM) agreed to acquire shale-gas producer XTO Energy Inc. (XTO)
for $31 billion.

Under the terms of its agreement with Tristate Midstream, Energy Transfer
will acquire Tristate North Louisiana Midstream and TSM Treating, which own
a 120-mile gas gathering system in Louisiana with a capacity of 275 million
cubic feet a day. Energy Transfer will also purchase natural gas treating
facilities with a 480 mcf/d capacity. Financial terms weren’t disclosed.

The gathering network will connect to several interstate and intrastate
pipelines, including Energy Transfer’s planned Tiger Pipeline. That
pipeline, expected to enter service in 2011, will connect the Haynesville
Shale to the Carthage Hub gas interconnection point in East Texas.

Petrohawk Doubles Proved Hydrocarbon Reserves

HOUSTON (Dow Jones)–Petrohawk Energy Corp. doubled its proved hydrocarbon
reserves to 2.75 trillion cubic feet of natural gas equivalent in 2009 by
tapping into emerging shale gas fields, the company said Monday.

The Houston company added in proved reserves nearly 10 times the amount of
oil and gas it produced. Most of the additions took place in the
Haynesville, Eagle Ford and Fayetteville shales, where it is drilling for
gas trapped in tight rock formations.

Petrohawk produced about 183 billion cubic feet equivalent of oil and gas in
2009, the company said in a statement.

Average output in the fourth quarter reached 598 million cubic feet
equivalent a day, 28 million cubic feet equivalent a day above its guidance
and an 81% increase from the same period in 2008.

Sources: [8]Reuters [9]WSJ [10]WSJ

Governor Paterson this does not make any sense to out of work American New York Citizens. Prison inmates hired, taking jobs from American Citizens in New York.

American Citizens express outrage that law abiding Americans are not being employed. It is disappointing that our government has so little concern for it’s citizens that they would put convicted criminals ahead of out of work law abiding citizens who need jobs, and families who need jobs.

Where is the transparency, who made the decision? Get involved and tell your government this was poor decision. Read Article

Pennsylvania generates tens of thousands of jobs 2009 from energy developers claiming their piece of the Marcellus Shale natural gas rush. 2010 is estimated to bring tens of thousands more in jobs. Many trades are required for the Marcellus Shale riches to be harvested for market. New York State is waiting, still waiting for Marcellus drilling permits to be granted. Read Article

Exxon Mobil to buy XTO energy in big U.S. gas bet.
Read Article

News Feed: President Obama appoints new coordinator of natural gas.