In This Issue:

- The State of the Marcellus & Utica Shale Natural Gas Industry

- Challenges of New Indiana Bat Guidance

- Ethane Cracker Likely in W.Va.

- A Productive Year in Shale

- Excerpt from Challenges of New Indiana Bat Guidance:

The federal Endangered Species Act is designed to prevent the taking of endangered species and imposes a regulatory program geared toward the protection and conservation of federally listed species and their critical habitat. Companies undertaking activities withthe potential to impact an endangered species must comply with the ESA, which typically involves such steps as advance planning regarding potential species impacts, a habitat assessment, and consultation with the United States Fish and Wildlife Service and other agencies with regulatory jurisdiction over the project.