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Friday, July 25, 2014

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North Texas City Rejects Fracking Ban

North Texas City Rejects Fracking Ban

AP (July 16, 2014) — The City Council of Denton, Texas rejected a bid early Wednesday morning to ban further permitting of hydraulic fracturing in the community after eight hours of public testimony. (July 16) Video provided by AP
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Gas Natural Sale Sidelined Until CEO Lawsuit Resolved

Gas Natural Sale Sidelined Until CEO Lawsuit Resolved

TheStreet (July 11, 2014) — Gas Natural, the Ohio-based company mired in scandal, was recently talking to prospective buyers about a sale, but talks came to a screeching halt when former CEO Richard Osborne filed a lawsuit against the company. The scandal started back in November when Ohio regulators ordered an investigation into Gas Natural. In May, the company announced that Osborne would be retiring and his son would take the reins. Late last month, Osborne Senior struck back, filing a lawsuit against the company. The suit has forced Gas Natural to put the sale on the back burner, but sources say that as soon as the matter is settled, the company will once again be on the prowl for a buyer. Even with the controversy surrounding the company, there will be no shortage of buyers as there is an intense level of interest in the gas local distribution space. Similar companies that have recently traded hands have fetched rich ebitda multiples of 10.5 times. With about $20 million in ebitda last year, Gas Natural could easily fetch north of $200 million in a sale. Video provided by TheStreet
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Drought-Stricken Farmers Desperate for New Water Wells

Drought-Stricken Farmers Desperate for New Water Wells

Reuters - US Online Video (July 9, 2014) — Well drilling companies are in high demand as farmers scramble to irrigate their crops through California's record drought. Linda So reports. Video provided by Reuters
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Texas Residents Seek Answers on Quakes, Drilling

Texas Residents Seek Answers on Quakes, Drilling

AP (June 26, 2014) — Barbara Brown points to cracks in her foundation and masonry, damage caused by an outbreak of tremors in her hometown. She says the quakes are not a matter of chance, but the result of waste water wells drilled by oil and gas companies. (June 26) Video provided by AP
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last updated on 2014-07-25 at 9:33 am EDT

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