WorldWide Drilling Resource

economy,” said U.S. Congressman Glenn Thompson. “I fully support the work that Penn State and GE will be doing through CCRINGSS to support new research inno- vations and create real-world applications that will build upon existing partnerships led by the University to make a positive impact on the industry and the communities of Pennsylvania.” PennStatePresident EricBarron is ex- cited about the new center. “CCRINGSS will pull together Penn State’s expertise in natural-gas-related technologies, data analytics, and supply chain management. By gaining a deep understanding of the complex shale gas supply chain, and by creating new technologies, the center will aim to produce tangible benefits to the natural gas industry as well as the com- munities impacted by that industry. Penn State students will be involved in much of this activity, interacting with industry pro- fessionals and faculty members through real-world projects that will help make them well-prepared and highly sought after graduates,” Barron concluded. 62 APRIL 2015 WorldWide Drilling Resource ® ship agreement, profits are usually split evenly. It is only when a partnership has made a so-called “Code Section 754” election, a “special allocation,” the tax rules allow adjustments to be made. Naturally, professional assistance may be required to take full advantage of a drilling business partnership or joint venture - and to avoid the many poten- tial pitfalls. Mark Mark E. Battersby may be contacted via e-mail at michele@ worldwidedrillingresource.com Battersby cont’d from page 60. On April 14, 1865, John Wilkes Booth assassinated President Abraham Lincoln. GE’s $10 Million Investment in the Future Adapted from Information by Pennsylvania State University When it comes to technological ad- vances, the country’s universities are a driv- ing force. The natural gas industry is no exception as demonstrated by a recent announcement from GE. The company plans to invest up to $10 million to estab- lish a new innovation center focused on driving cutting-edge advancements in the natural gas industry at Penn State. CCRINGSS (Center for Collaborative Penn State President Eric Barron, GE CTO Mark Little, and Congressman Thompson. Photo by Dale Manning Photography cour- tesy of Penn State. Research on Intelligent Natural Gas Supply Systems) will connect Penn State re- searchers with students and various in- dustry stakeholders to advance efficiency and environmental sustainability through technological innovations and improved supply chain management. “Natural gas is extremely important as a domestic energy source for the United States, and continues to serve as a cru- cial element in revitalizing Pennsylvania’s $ ( *!& () ' %!$. +& / & +)*(. +$. .(*$ '&, &*!'& &* ( .(*$ '+* ('$!& '( %'( !& '(% *!'& !, +) $$ '( ,!)!* +) '&$!& --- "+ !$ - * () '- '% '+ & $)' '$$'- +) '& ''#