Monday, February 23, 2009

PA May Force Companies to Reveal Gas Shale Drilling Secrets

Drilling for shale gas let America rip dimethyl sulfide last year, fouling gas' previously high price. Why not let more boys into the party? Pennsylvania is considering just that.

Fresh from Forbes:

Three decades ago, environmentalists and public officials rang the alarm when the price of fossil fuels shot up and drilling companies descended on western
Pennsylvania's oil and gas fields in search of paydirt.

The state Legislature responded with the 1984 Oil and Gas Act, which forced the companies to comply with strict new environmental standards - but also handed them a cushion that allowed them to keep secret most information about their below-ground discoveries for five years.

Now, with a fresh wave of exploration companies flocking to Pennsylvania in pursuit of natural gas in the sprawling Marcellus Shale rock formation, state legislators are considering peeling back that cloak of secrecy.

One proposal backed by several key senators would require disclosure of well-specific production data every six months in an effort to stimulate interest in drilling and bring Pennsylvania into line with major gas states.

- Brewskie

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