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Sunday, July 17, 2011

WARNING: PROPERTY OWNERS NEAR DRILLING BEWARE OF MARCELLUS SHALE!!!


Here's the deal about the impact of Hydraulic Fracturing. I work for a major bank. One that, for a large part, most property owners in this area and northeastern Ohio go through. 

 The financial industry is already taking measures against fracking - but only to protect their interests.


 Within the last 3 months, we have been issued new internal national guidelines on lending specifically because of the issues fracking has caused in other states where banks have lost considerable money, most notably Dish, Texas where fracking has basically killed the town by destroying its water table due to the chemicals used that leaked uncontrolled from the drill sites that made the same enviro-safety claims as Chesapeake is doing now.


 If your residence or property is within a radius of 16000 feet of a Hydraulic Fracturing site (that's over 3 miles - not the paltry 3,000 foot/less than 1 mile radius by Chesapeake) ... we have been advised that these properties are no longer considered eligible for loans. Any loans. 

These properties are considered 'Brownfields' ... basically sites designated as contaminated or high probability contamination sites which resale or redevelopment is nearly impossible because of their uncertain liability and the inability of any cleanup. Banks consider these properties high risk with little value.

 A few people will make some quick cash from this, but the long term consequences are detrimental to anyone owning property in that 3 mile radius and beyond. Consider this, I guess, fair warning from the financial sector. There's a good chance Congress Lake residents will be left holding the bag paying taxes on worthless property that, if the banks have their way, cannot be sold.

Marcellus Protest   http://www.marcellusprotest.org



Chesapeake plans well near Congress Lake

CantonRep.com staff report  from Indeonline.com
Posted Jun 15, 2011 @ 06:09 PM

Suffield Township: Chesapeake Energy has plans for a horizontal natural gas well that will straddle the border of Portage and Stark counties.


The company will meet with area residents Thursday at Suffield Township Hall, 1261 Waterloo Road, and discuss plans for the project. The informational open house is from 5:30 to 7:30 p.m.

Residents from about 275 households have been invited to the event, said Jacque Bland, a Chesapeake media relations specialist. Notices were sent to households within a 3,000-foot radius of the well, as well as to residences located along routes that will be used by trucks and heavy equipment related to the well project.

Chesapeake will be drilling to the Utica shale rock formation, which is about 5,000 feet below the surface in this part of Ohio.

Ohio’s Department of Natural Resources, which regulates oil and natural gas drilling in Ohio, is reviewing Chesapeake’s application for a permit to drill the well.

The well is located off Portage County Route 17, also called Congress Lake Road, and north of Congress Lake. The company will drill a vertical shaft, then the well will bend and run along a horizontal plane through the rock formation. The horizontal shaft will run south under Congress Lake, which is just north of Hartville.

Chesapeake is hoping to pull natural gas from the Utica formation, which is similar to the Marcellus shale formation that the company is seeking in northeast and southwest Pennsylvania. The Utica formation runs deeper than the Marcellus shale, and energy companies believe it will be more productive here.

Energy companies have been using new techniques in horizontal drilling to reach shale formations. Once the well is drilled, companies use hydraulic fracturing to break up the rock and release the natural gas, oil and other hydrocarbons.

Hydraulic fracturing — also called fracking — has been used in drilling since the 1940s. The process pushes a slurry of water, sand and chemicals through the well to break the rock and release gas or oil. But most traditional vertical wells use less than 300,000 gallons of water in the process. Horizontal wells such as the one planned for Suffield Township will use more than 4 million gallons of water in the hydraulic fracturing process.

Chesapeake has drilled horizontal wells in Carroll County and other Ohio counties.

No horizontal wells have been drilled in Stark County, although a permit has been issued to EnerVest for a well in Marlboro and Lexington townships.

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