Bill Aims to Enhance Oversight
of Natural Gas Drilling
By MATTHEW ROBERTS
Director of Operations, Senator Catharine M. Young
ALBANY, NY – A wave of economic revitalization will boost communities across New York’s Southern Tier, thanks to legislation passed by Senator Catharine Young that will help reinvigorate the natural gas and oil industry.
“From Chautauqua to Delaware County, more natural gas will be recovered, potentially triggering a billion dollar investment in the upstate economy,” Senator Young said.
“The market value for natural gas produced in New York State is $500 million annually and it is estimated that landowners receive $64 million in royalties and up to $20 million in state and local tax revenues are generated,” Senator Young continued. “It’s possible that the natural gas market value will double due to large recoveries of natural gas from the Southern Tier and New York State.
The legislation establishes statewide spacing requirements, and streamlines the permitting process, to better protect the environment and landowners. Communities will realize more tax revenues, easing pressure on property taxpayers, and more energy will be produced to help consumers” Senator Young said. “It’s a huge win for everyone,” she added.
Horizontal wells currently are allowed in the state, but were bogged down in the permitting process. Under the bill, as recommended by the Department of Environmental Conservation, (DEC), the process will be standardized and streamlined, while establishing strict requirements to protect the environment. The legislation does not give new or additional drilling authority to the industry.
“Horizontal drilling recovers more natural gas and oil, which is key since there have been major energy finds, such as from Marcellus shale.
Recent technological advances have allowed access to indigenous gas resources in the shallow Marcellus shale that is prevalent throughout the Southern Tier and into the western Catskill region
The entire Marcellus shale formation, from the West Virginia to New York’s Catskills, is estimated to contain 168 to 516 trillion cubic feet of natural gas. Ten to 20 percent of this natural resource lies within NY’s borders.
Director of Operations, Senator Catharine M. Young
ALBANY, NY – A wave of economic revitalization will boost communities across New York’s Southern Tier, thanks to legislation passed by Senator Catharine Young that will help reinvigorate the natural gas and oil industry.
“From Chautauqua to Delaware County, more natural gas will be recovered, potentially triggering a billion dollar investment in the upstate economy,” Senator Young said.
“The market value for natural gas produced in New York State is $500 million annually and it is estimated that landowners receive $64 million in royalties and up to $20 million in state and local tax revenues are generated,” Senator Young continued. “It’s possible that the natural gas market value will double due to large recoveries of natural gas from the Southern Tier and New York State.
The legislation establishes statewide spacing requirements, and streamlines the permitting process, to better protect the environment and landowners. Communities will realize more tax revenues, easing pressure on property taxpayers, and more energy will be produced to help consumers” Senator Young said. “It’s a huge win for everyone,” she added.
Horizontal wells currently are allowed in the state, but were bogged down in the permitting process. Under the bill, as recommended by the Department of Environmental Conservation, (DEC), the process will be standardized and streamlined, while establishing strict requirements to protect the environment. The legislation does not give new or additional drilling authority to the industry.
“Horizontal drilling recovers more natural gas and oil, which is key since there have been major energy finds, such as from Marcellus shale.
Recent technological advances have allowed access to indigenous gas resources in the shallow Marcellus shale that is prevalent throughout the Southern Tier and into the western Catskill region
The entire Marcellus shale formation, from the West Virginia to New York’s Catskills, is estimated to contain 168 to 516 trillion cubic feet of natural gas. Ten to 20 percent of this natural resource lies within NY’s borders.
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