Industry News

What is Bitcoin Mining and How Does it Work?

Bitcoin mining is a crucial process that underpins the entire Bitcoin network, ensuring its security, integrity, and function as a decentralized digital currency. As the backbone of the blockchain, mining serves to validate transactions, create new bitcoins, and secure the network against fraudulent activities. This article delves into the intricacies of Bitcoin mining, exploring its

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The Downfall Of Oil: Examining The Challenges Facing The Industry

The oil industry, once the cornerstone of global energy production and economic growth, is now facing a myriad of challenges that threaten its dominance. As the world transitions towards renewable energy sources and grapples with climate change, the future of oil appears increasingly uncertain. This article explores the key factors contributing to the downfall of

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E&P Highlights: Oct. 28, 2024

Here’s a roundup of the latest E&P headlines, including a new field coming onstream and an oilfield service provider unveiling new technology. This post appeared first on Hart Energy.

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Breaking: PA Democratic AG Candidate Denounces Climate Lawsuits

“Energy is very much on the ballot here” Pennsylvania Democratic Attorney General nominee Eugene DePasquale denounced the climate lawfare movement targeting natural gas and oil companies in a Pennsylvania Chamber candidate forum posted Monday. WATCH: https://www.energyindepth.org/wp-content/uploads/2024/10/ScreenRecorderProject1_1.mp4 TRANSCRIPT: Moderator: “Energy is very much on the ballot here [in Pennsylvania]. Recently Vice President Harris has called on

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PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585

The realignment we spoke of several weeks ago about Pennsylvania losing rigs to its neighbors has deepened. Last week, PA lost another rig, going from 13 rigs down to 12 rigs, while Ohio picked up one rig and now has 10 active rigs. West Virginia also operated 10 rigs last week. Just two months ago…

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CNX Drilled Just 3 New Wells in 3Q – Shifts Focus to Utica

Last week, CNX Resources issued its third quarter 2024 update. The company made $65.5 million in profit for the quarter, compared with a profit of $21.3 million in 3Q23 (more than doubling net income). Production was 134.5 Bcfe (billion cubic feet equivalent) in 3Q24 — which works out to 1.46 Bcfe/d — down from 143.4…

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SRBC Approved 20 Shale Water Withdrawal Requests in September

In September, the Executive Director of the Susquehanna River Basin Commission (SRBC) renewed 20 water-use permits for individual shale gas well drilling pads in Bradford, Clearfield, Lycoming, Sullivan, and Susquehanna counties. We’re just learning of the action via an official notice published in the Oct. 26 edition of the Pennsylvania Bulletin. The approvals, which are…

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NYSE Threatens Nine Energy Services with Stock Delisting, Again

Nine Energy’s stock performance for the past one year (click for larger version) Nine Energy Service, an oilfield services (OFS) company that competes with companies like Halliburton and Baker Hughes, operates in a number of shale basins, including the Marcellus/Utica. Last week, the New York Stock Exchange (NYSE) informed Nine the company’s stock is in…

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Hope Gas Gets Ready to Roll Out WATT Fuel Cells to WV Customers

WATT fuel cell A fuel cell manufacturer located in Westmoreland County, PA — WATT Fuel Cell — manufactures Solid Oxide Fuel Cell (“SOFC”) stacks and systems that operate on common, readily available fuels such as natural gas and propane. Instead of burning and combusting natural gas (or propane), those fuel sources are subjected to an…

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