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PITTSBURGH - Atlas Energy Inc. said Tuesday it has successfully drilled and completed two additional horizontal Marcellus Shale wells in Southwestern Pennsylvania: one in western Fayette County and another in eastern Greene County. Both of the wells are in the high pressured, dry gas area that makes up the core of the company's 519,000 acres in the Marcellus Shale play.
The company said in a press release that the Fayette County well, the first horizontal Marcellus well drilled and completed there, has produced into a pipeline an average of 3.3 million cubic feet per day for its first 30 days. The second horizontal Marcellus well drilled during 2009 in Greene County is exhibiting a similar production profile after an initial peak rate of 3.5 Mmcf/d.
The company said that for the remainder of 2009, it has scheduled to frac and complete 10 horizontal Marcellus Shale wells. It said it expects to drill and complete about 30 horizontal wells in 2010.
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PROVIDENCE, R.I. - The head of Rhode Island-based Citizens Financial Group says it won't be sold by its parent company, the Royal Bank of Scotland, as a condition of the British government pouring billions of dollars into the firm.
Chief Executive Officer Ellen Alemany says RBS's announcement Tuesday that Citizens is not among the assets it will sell affirms that the banking firm in Providence is "a valued part of the RBS Group."
Citizens Financial operates nearly 1,500 branches, as Citizens Bank in the Northeast and as Charter One in the Midwest. It has about 23,000 employees.
RBS says it's selling other assets, including branch networks in Great Britain as part of a deal in which the British government gives it 25.5 billion pounds, about $41.8 billion, on top of an earlier bailout.
