Bye Bye Chesapeake from the Barnett Shale

Photo on 2011-05-12 at 20.51

“what….. no more Chesapeake?

Update 9/23/16  If you’ve been following my blog-thank you. If you are wondering why I no longer blog it is because I have been working for a water generating company. Lets just say that municipal drinking water cannot be trusted..and if they mess up…they have to notify you by law albeit even AFTER the frack you drank it.

My next phase of fractivism rocks da house cause all this time I was trying to protect our drinking water and air/food shed but now we have the ocean above our heads we can tap since we can’t stop the frack. —end update—-

Chesapeake was Arlington’s predominant operator, as the baton of our urban drilling operator passes to a second tier driller.

Update 9/9/16 A French company named Total (who already owned 25% of Chesapeake) now plans to own the Barnett Shale Assets.  Our 55+ pad sites in Arlington and their aging infrastructures make them more dangerous by the months and by the blowdowns. We are the guinea pigs of Camel cig deniers that all is well in urban drilling hell.

Update 8/16/16: DallasNews reported  of the natural gas pipeline/transporter …“Williams said its new customer guaranteed spending $40 million a year on drilling through 2018 plus an unspecified amount on well connections and other projects”.

Listen here to Episode 80 podcast of Chesapeake’s exit from the Barnett Shale….there is mention of emissions in urban areas and lawsuits over royalties issues.

On 8/1/16 Barrons reported “Saddle Operating LLC is comprised of former Exco Resources executives including former CEO, Doug Miller and CFO, Doug Ramsey”.

Saddle is owned by First Reserve. who owns interests in solar & wind farms, so there is hope in the world*…whenever financials drive it.

On 8/10/16 press releases reported that Chesapaeake’s Barnett Shale  assets were “transferred” per the Star Telegram. Hah…so there was no cash for these clunkers.

And as for the employees still working in the Barnett shale, the Chk CEO said… “Chesapeake still has about 170 employees working in the Barnett Shale, and Lawler said they hopefully will transition to Saddle Barnett Resources”.

Bloomberg reported that Williams Partners plan to revitalize drilling in the Barnett Shale by a conditional gas gathering arrangement in “tying the monthly fees it charges for gathering and delivering fuel to the price of gas traded on the New York Mercantile Exchange”.

“Williams said it will receive $754 million in cash that’ll be used to pay down debt”.

It was reported that Chesapeake left the Barnett Shale to “escape almost $2 billion in onerous pipeline contracts”…..”The company will receive no proceeds from Saddle for handing over the Barnett assets, which in late July were estimated to be worth as much as $1 billion”. 

Chesapeake is giving away ONE BILLION value in Barnett assets?…hmmm thats the same amount they want to spend (throw away) to build a new Ranger Stadium. How ironic that at least one of the Ranger’s owners made their billions with big oil & gas interests. I guess times R tuff in oily land and so the Arlington residents get to get fracked by these oily men twice: 1) urban drilling exposures 2) corporate welfare for private biz stadium upgrade

Now Chesapeake has to pay hundreds of millions to get out of the (bad deal) midstream/pipeline contracts. (Digressing) And so will the Texas Rangers baseball owners do a similar move to get out of the current Rangers contract with the City of Arlington that has 8 years left?  DOUBT IT….Councilman Rivera responded to my question if Texas LIVE would go forward regardless of the vote…so Rangers have skin in Arlington to stay in.

Back to the Chesapeake story….

The details from the financial carnage Chk endured over the years is dizzying. Now the City of  Arlington made out like a bandit (for now) as they got in when the natural gas payouts were high…but the pendulum swings both ways as having industrialized our town and with ever growing aging infrastructure time will be our enemy.

Our best hope is that Chesapeake’s new owners will pony up to plug and abandon and restore these padsites to as best its original state, but the well bores will always be there leak-lurking.

It is hard to wrap your mind around the info below that Saddle has ONE EMPLOYEE???!!!

Second Tier drilling=Arlington frack wells!

saddle chesapeake

*Here is my love letter to First Reserve who owns Saddle….“In the new Barnett dry gas padsite acquisition from Chesapeake, please assure me that after the hyperbolic decline curve is exhausted on existing wells that you will plug & abandon these sites and add solar panels? Urban drilling has been hell for us…I have had nose bleeds when those lift compressors came in by the ATT Stadium….I sued CHK in small claims but failed…and really have done my all to protect my residential rights to not have industrial intrusions…please help me know your intentions with these urban padsites, thank you”.

About Kim Triolo Feil

Since TX Statute 253.005 forbids drilling in heavily settled municipalities, I unsuccessfully ran for City Council Seat to try to enforce this. Since Urban Drilling, our drinking water has almost tripled for TTHM's. Before moving to Arlington in 1990, I lived in Norco’s “cancer alley”, a refinery town. It was only after Urban Drilling in Arlington did I start having health effects. After our drill site was established closest to my home, the chronic nosebleeds started. I know there are more canaries here in Arlington having reactions to our industrialized airshed (we have 55-60 padsites of gas wells). Come forward and report to me those having health issues especially if you live to the north/northwest of a drill site so I can map your health effects on this blog. My youtube account is KimFeilGood. FAIR USE NOTICE: THIS SITE MAY CONTAIN COPYRIGHTED MATERIAL THE USE OF WHICH HAS NOT ALWAYS BEEN SPECIFICALLY AUTHORIZED BY THE COPYRIGHT OWNER. MATERIAL FROM DIVERSE AND SOMETIMES TEMPORARY SOURCES IS BEING MADE AVAILABLE IN A PERMANENT UNIFIED MANNER, AS PART OF AN EFFORT TO ADVANCE UNDERSTANDING OF THE SOCIAL JUSTICE ISSUES ASSOCIATED WITH EMINENT DOMAIN AND THE PRIVATIZATION OF PUBLIC INFRASTRUCTURE (AMONG OTHER THINGS). IT IS BELIEVED THAT THIS IS A 'FAIR USE' OF THE INFORMATION AS ALLOWED UNDER SECTION 107 OF THE US COPYRIGHT LAW. IN ACCORDANCE WITH TITLE 17 USC SECTION 107, THE SITE IS MAINTAINED WITHOUT PROFIT FOR THOSE WHO ACCESS IT FOR RESEARCH AND EDUCATIONAL PURPOSES. FOR MORE INFORMATION, SEE: HTTP://WWW.LAW.CORNELL.EDU/ TO USE MATERIAL REPRODUCED ON THIS SITE FOR PURPOSES THAT GO BEYOND 'FAIR USE', PERMISSION IS REQUIRED FROM THE COPYRIGHT OWNER INDICATED WITH A NAME AND INTERNET LINK AT THE END OF EACH ITEM. (NOTE: THE TEXT OF THIS NOTICE WAS ALSO LIFTED FROM CORRIDORNEWS.BLOGSPOT.COM)
This entry was posted in Uncategorized and tagged , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s