Kalnin Ventures adds $16M in Marcellus assets
Monday, April 10, 2017
On behalf of Banpu Pcl, Kalnin Ventures LLC acquired more assets in Pennsylvania’s Marcellus shale, according to ShaleOhio.
The Denver-based firm reached a $16 million purchase agreement with Radler 2000 LP-Tug Hill Marcellus LLC. The deal included 177 wells in Bradford, Sullivan, Susquehanna, Lycoming, Tioga and Wyoming counties.
Kalnin has also acquired Marcellus assets from Chief Exploration and Development LLC and Range Resources-Appalachia.
Learn more: ShaleOhio > Kalnin Ventures adds to Marcellus shale portfolio with $16 million purchase
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.