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Marcellus Shale Case Study – Williamsport Regional Airport
1. Airports and Marcellus ShaleAndMarcellus Shale Case Study – Williamsport Regional Airport Rick Holes, PE VP – Operations Manager – Aviation Services Tom Hart Executive Director – Williamsport Regional Airport
2. Aviation Industry Woes From 2007-2009, passenger traffic dropped by 8.2% 2010 traffic is expected to increase, though Multiple airline mergers/failures have occurred Large, commercial service airports have suffered from Reduced passenger volumes Reduced number of airlines Reduced revenue Increased costs General aviation airports have also suffered
3. Aviation Industry Woes ASCE Infrastructure Report Card for Aviation = D (Poor) $46.3 billion Estimated shortfall is $Estimates $87 billion to upgrade infrastructure from 2009-2014 Estimated spending is 40.7 billion The last AIP Bill expired in several years ago Congress has forced the FAA to operate under CR’s In 2010, 5 CR’s were issued As a result, funding is parceled Projects need to be delayed or completed in phases Projects are taking longer and costing more
4. Aviation Industry Woes In PA, the Aviation Restricted Account is has a negative cash flow Fuel sales greatly reduced from pre-9/11 levels Fuel tax cap is set at $0.02 per gallon In 2009/10, oil price index reduced tax to $0.016 per gallon Current tax rate is $0.017 per gallon Meanwhile, construction costs have skyrocketed Utility costs are increasing dramatically
5. Marcellus Shale – Aviation Savior?? Since 2007, Marcellus Shale companies are moving into PA, WV and NY Focus has been on mineral rights acquisition and drilling Landowners have been approached by gas companies for drilling rights Offers started at $100/acre and have increased from there Royalties of up to 18+% have been offered Economy slowed down the movement for a while, but it’s back to full-speed
6. The Marcellus Shale Play Basin is 600 miles in length along its axis Contains an estimated 500 trillion cubic feet of gas, in-place
8. Companies in the Marcellus Shale Industry Many players in the market at the current time Small to large firms Some of the best energy companies in the US Leasing, Exploration, Drilling, Production, Transmission, and Service Companies Potentially the largest natural gas field in the US Region could become the US natural gas capital
64. PetroEdge Resources (TX)Knox Energy Inc. (OH) M&M Energy LLC (PA) Marathon Oil Co. (TX) McIntosh & Associates (CA) McIntosh Oil & Gas (WV) Mid-Central Land Services (IN) Mike Ross, Inc. (WV) Mountaineer Gas Co. (WV) Murvin & Meier Oil Co. (IL) Noble Energy (IN) Nornew Inc. (NY) North Coast Energy (OH)
76. TXOK Energy (OK)Petroleum Development (WV) Range Oil & Gas (Canada) Range Resources (PA) Rex Energy (PA) Riley Natural Gas Co. (WV) Rockwell Energy (TX) Savoy Energy (MI) Seneca Resources (NY) Sigma Corp. (CA) Snyder Associated Co. (PA) Sojourner Drilling (TX) Southern Land Co. (TN)
77. Companies in the Marcellus Shale Industry Typhoon Energy (PA) Ultra Gas Co. (PA) Ultra Petroleum (TX) Victory Energy (PA) Waco Oil & Gas (WV) West Bay Exploration (MI) Western Land Services (PA) Winchester Energy (LA) XTO Energy (TX) Z Oil & Gas (PA)
78. Companies in the Marcellus Shale Industry The previous list of companies are involved in the leasing, land acquisition, drilling, exploration, transmission, and distribution of natural gas However, they are followed by support companies that include: Halliburton Superior Sooner Pipe PBT and Hart Resources Holloman Corporation BJ Services Universal National Oil Well Varco These companies provide pipe, sand, and other materials and support needed as a part of the Marcellus Shale drilling operation
85. The Marcellus Shale Industry and Airports Drilling Issues to Address Must receive Fair Market Value for Leases National Environmental Policy Act of 1969 (NEPA) Environmental Finding on Drilling Environmental Finding on Water Usage Environmental Finding on Waste Water Must be reviewed and approved by FAA prior to signing lease Typically will require a Short Form Environmental Assessment Need to ensure Grant Assurances are met Drill rigs must be Airspaced Need at least 120 Days for approvals
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87. The Marcellus Shale Industry and Airports What is the Marcellus Shale Industry looking for? Land for drilling or development Access to major highways Access to railroads Proximity to Commercial Service or large General Aviation airport Available workforce Tax breaks Keystone Opportunity Zones
88. The Marcellus Shale Industry and Airports What Do Airports Offer? Land – typically flat and developable Access to major highways Some are near railroads Aviation access Typically near population centers Utilities are readily available Already noise generators Some offer KOZ’s
89. The Marcellus Shale Industry and Airports Development Opportunities Many companies looking to locate in Northern PA Drilling Companies Pipe Suppliers Gas Companies Most are from Texas, Louisiana, Oklahoma, Washington, or Oregon Looking for 5 – 25 acres Some want to be ON an airport Most want to be NEAR an airport ALL will UTILIZE the local airport
90. The Marcellus Shale Industry and Airports Development Opportunities - Airport Usage Many companies have their own aircraft Fly staff to PA on Monday morning Fly staff back to home on Friday afternoon Typically 5-20 seat jet aircraft Some have as large as 50-passenger jet aircraft May need hangar space Many use existing commercial service This will help attract more and larger aircraft May need to look at different routes Parking facilities can become overtaxed
91. The Marcellus Shale Industry and Airports Development Opportunities – Issues to Address Show on Airport Layout Plan (Pen and Ink Change) Can’t use land identified for “Airport Development” Can’t normally sell land – Long-term leases are preferable Must receive Fair Market Value for Leases Need at least one appraisal Leased value must be greater than Fair Market Value Development in construction must be Airspaced Must receive environmental finding Allow at least 90 days for approvals
92. The Marcellus Shale Industry and Airports Development Opportunities – Recommendations If you are located within the Play, BE PREPARED!! You will be contacted by companies associated with Marcellus Shale Meet early on with FAA and/or PADOT Bureau of Aviation Need to start coordination early in the project Expect FAA/PADOT coordination to take minimum of 3 months Meet early on with Local Municipal Officials Check Zoning Meet land development requirements Hire an attorney who has experience in mineral rights and/or the Marcellus Shale industry
93. The Marcellus Shale Industry and Airports Case Study – Williamsport Regional Airport Williamsport is the Marcellus Shale Capital of Northern PA Good Highway Access US Route 15 connects Maryland to New York through Harrisburg US Route 220 provides access from Central PA Interstate 180 provides direct connection to Interstate 80 Good Rail Access Lycoming Valley Railroad Good Air Access 6,824’ Runway 580 Acres of Land Plenty of available office/hangar space
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100. Thank You – Questions? Rick Holes, PE VP – Operations Manager – L.R. Kimball Aviation Services Tom Hart Executive Director – Williamsport Regional Airport