News

Fidelity Buys More Shares of Range Resources, Now Owns 11.35%

On November 8, 2024, FMR LLC, also known as Fidelity Investments, acquired 52,419 additional shares of Range Resources Corp. (RRC)—the very first and still one of the largest drillers in the Marcellus Shale. The acquisition increased FMR’s total holdings in the company to 27,478,205 shares, reflecting a significant commitment to Range. FMR is one of…

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Newsom Regulators Vote to Hike Gas Prices in California, Nevada, and Arizona

Late Friday evening the California Air Resources Board (CARB) approved new amendments to the Low Carbon Fuel Standard (LCFS), likely sending gas prices in California, Arizona, and Nevada higher beginning next year.  California’s LCFS program was established in 2011, ostensibly to reduce emissions from transportation. However, the new amendments – , which target a 30

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PA Re-Adds a Rig to 14; National Rig Count Even 3rd Week @ 585

Three weeks ago, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Two weeks ago, PA picked up a rig, returning to 13 active rigs. Last week, Baker Hughes reported PA…

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EQT, Diversified Settle WV Class Action Lawsuit re Old Wells

In August, MDN brought you up to speed on a lawsuit filed by several West Virginia landowners (turned into a class action) against Diversified Energy and EQT over EQT’s sale of 11,350 conventional wells and 2.5 million acres of leases spread across several states, including West Virginia (see WV Landowner Lawsuit Against EQT, Diversified re…

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Seneca to Run 1-2 Rigs Next Yr, Focus on Tioga & Lycoming Counties

National Fuel Gas Company (NFG), headquartered in Buffalo, NY, is the parent company for Marcellus/Utica driller Seneca Resources and the parent of midstream company NFG Midstream (and subsidiary Empire Pipeline). Last week, NFG issued its latest quarterly update. During the quarter (considered the company’s fourth quarter), Seneca produced 91.9 Bcf (billion cubic feet) of natural…

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PA Bill Denies Impact Fees to Shale-Hostile Municipalities

In May, MDN told you that several Republican Pennsylvania State Senators were planning to introduce a bill to cut off millions of dollars in impact fee revenues to municipalities that set protective standards on the development of natural gas that “imposes a standard or condition on well development that conflicts with or exceeds those contained”…

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