--ICYMI over the weekend: the EQT Corp. is buying nearly 100,000 Marcellus acres from Chesapeake Energy. The move helps EQT bolster its Marcellus holdings as the company narrows its focus to drilling operations, and gives Chesapeake some much-needed cash as the Oklahoma City firm continues to plug holes on its balance sheet. (Post-Gazette)
--The Inquirer's Andrew Maykuth has a piece today on the two sides debating the economic impact of gas drilling in Pennsylvania:
"Mark Price, a labor economist with the liberal-leaning Keystone Research Center, says he can find only 20,000 direct jobs created from Marcellus Shale. Even if all coal-mining and legacy natural gas drilling is added together, "this is a sector that still only makes up half of 1 percent of Pennsylvania's economy," he said.
Industry supporters say Price's narrow focus does not account for indirect employment caused by drilling - jobs created by suppliers, or from spending by those employed in the business. Nor does it account for new wealth flowing to owners of mineral rights, who collect royalties on natural gas extracted from their property." (Philadelphia Inquirer)
--And despite the cheering heard in gas fields across the county, horse Frac Daddy finished 16th in the Kentucky Derby on Saturday. Sarah Palin bet on him, though.