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Friday, December 4, 2015

Seneca takes on financial backer for local shale drilling

By MARCIE SCHELLHAMMER 
Bradford Era Associate Editor marcie@bradfordera.com

After losing about $650 million in the last six months, Seneca Resources has taken on a financial backer to continue its Marcellus Shale drilling operations in McKean, Elk and Cameron counties.

“With the price of natural gas dropping, and not really improving, our company has taken a write-down on the side of the assets,” explained Rob Boulware, Seneca spokesman. “We had a loss as a company mainly due to the write-down on the price of natural gas.  Read more...



10 comments :

Anonymous said...

I love natural gas. But not un-natural gas, whatever that may be. Possibly its what comes from our presidents mouth.

Chris in Bradford said...

How can we start the impeachment process of our President ? I will sign the petition. He is putting us at risk!!!!!

Anonymous said...

Why don`t you pack up all your gear and Mexicans and haul your ass back to Texas if you`re losing money ?

Unknown said...

You do realize how much money SRC has put in this local economy right?

Anonymous said...

Not to mention, Seneca is a local company. Many people from this very area are employed by Seneca and have been for years. This area has lost enough jobs. Should be thanking the folks at Seneca for getting backing to continue to keep things going until the economy comes back around.

John Q Public said...

They are NOT local. The company headquarters is out of Texas. That's like saying that it is helping Americans by buying Toyota trucks because they are made in the USA, but ultimately the profits go to Japan. Sure people are employed by them locally, but I would rather see that guy work for a local company.

Anonymous said...

If you feel bad for Seneca send them some of your money to buy the politicans.I'm tired of making up for the subsides we give them

Anonymous said...

Seneca has more texas trucks riding by my house than Pa plates.. Don't try and say they don't... The garbage they toss out there windows is a disgrace! people from our own area don't do that.. Pigs is what they are PIGS!

Unknown said...

Maybe because the company is headquartered in texas? I'm sure everyone around here doesn't throw garbage out their window..

Anonymous said...

Work for a local company......there are dozens of jobs here that you can make a living at aren't there and I'm sure it's only the out of town people that litter. Are you people for real?