As I mentioned in a previous post, I’ve spent a considerable amount of time researching Gas Well Drilling the past month, and in doing so I created a whole new folder full of links on my home and work computers. Today, I read the Ft. Worth Weekly, where they had an article about some activists in Parker and Wise Counties. It’s well worth the time to read it even though the article is highly slanted against drillers. I do have a belief that the drillers that operate in our area knew they were dealing with a bunch of uneducated nimwits (meaning us, the citizens), when they began their big push to drill in the area, and now the pushback from the citizens is going to be hard. I also have a belief that drilling is good for the economy of North Texas, but that it should be regulated as to not irrevocably harm the enviroment and homeowners property values.
In other news, it seems that the Rig Count continues to fall as Natural Gas prices plummet adding to the high unemployment numbers. It still didn’t stop the Chesepeake Energy (CHK) Board of Directors in giving it’s CEO Aubrey K. McClendon a bonus of $75,000,000 even though the stock price of CHK dropped from the high of $72 to close the year in the $16 range. Sure, Mr. McClendon bet everything he had on CHK stock, and ended up in the middle of a huge margin call wiping out almost his entire net worth. But it seems that there are some pretty upset shareholders with CHK board and are fighting back.
In still other news, I remind you that the City Council will have two public hearings at it’s next meeting on April 7th to discuss the Planned Development changes for two gas well sites in North Keller. I encourage you to attend and show your support for those citizens and property owners next to these sites.