Leading specialists are in Pittsburgh today through Oct. 31 hosting the “Water Management of Shale Plays.” The conference will share best practices and technologies for development water management in the shale drilling hyrofracking process. Keynote speakers from the Pennsylvania EPA, Lux Research, Consol Energy and Ephiphany Solar Water Systems will address technologies and resources for water management in shale drilling. The shale plays being featured are Marcellus, Utica, Bakken, Niobrara, and Texas.
The Allegheny Conference on Community Development expects the world demand for energy to increase by 35% by 2030. The natural resources in the Pittsburgh area include coal, natural gas, nuclear, solar and wind. Innovative technologies, intelligence building and transmission and production resources are a strong part of the region. Pittsburgh’s economic growth is largely positioned around this expectation. Public, private and subsidiaries are located in Pittsburgh which include EQT Corporation, Consol Energy, NRG Energy and Direct Energy.
Industry trends, government regulations, and company’s ability to adapt to change impact the company’s growth, and EQT Corporation, Consol Energy and NRG Energy have significantly less net incomes than last year. Net income measures revenue less operating expenses, interest and taxes. As Direct Energy is traded in the United Kingdom, their financial statements are not filed with the SEC so they are not available for review.
Consol Energy (NYSE:CNX) is a producer of coal and natural gas headquartered in the surrounding Pittsburgh area of Cannonsburg. The 2012 third quarter net income for Consol Energy was -$11 million while in 2011 third quarter net income was $167 million. EQT Corporation (NYSE:EQT) specializes in natural gas production, development and distribution and is headquartered in downtown Pittsburgh. The third quarter net income for the company was $32 million compared to 2011’s third quarter net income $179 million.
NRG Energy (NYSE:NRG) is a Fortune 300 company that is a wholesaler of electricity and energy with locations in the north shore of Pittsburgh. Net income for the second quarter of 2012 was $251 million while the net income for the same time last year was $621 million. Direct Energy provides electricity, natural gas and other resources to business and residential customers and has a subsidiary located in downtown Pittsburgh. Direct Energy is a subsidiary of Centrica PLC (LON:CNA). Although this is not a publically traded stock in the United States, Google finance estimates 2012 second quarter’s net profit margin to be 8% while 2011’s net profit margin was 1.94%.
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