For the week of Oct 27 – Nov 3, there were 13 permits issued to drill Marcellus/Utica wells, down from 17 permits issued the prior week. The Keystone State (PA) had just three new permits, one each for EQT, Range Resources, and Snyder Brothers (three different counties). The Buckeye State (OH) issued no new permits…
Read More...Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its third quarter 2024 update yesterday. The company reports net production averaged 3.4 billion cubic feet equivalent per day (Bcfe/d) during 3Q24, a decrease of 2% year-over-year. Of the company’s…
Read More...In 2024, natural gas prices have spent almost the entire year under $3.00 per Mcf (thousand cubic feet), including a few months under $2.00/Mcf. You would think such low prices would have a negative effect on the stock prices of publicly traded Marcellus/Utica gas producers. Not so! Stock prices for our drillers have remained “remarkably…
Read More...Feedgas flows from the Marcellus/Utica to the Cove Point LNG export facility located on the shore of Maryland fell to zero last Friday, Sept. 20. It was the start of the facility’s annual maintenance outage. The question is, how long will Cove Point be out of commission for liquefying and exporting LNG? According to Reuters,…
Read More...WhiteHawk Energy, headquartered in Philadelphia and owning mineral and royalty interests for over 1 million gross unit acres with over 3,400 producing horizontal shale wells between the Marcellus and the Haynesville, announced yesterday the acquisition of additional Marcellus Shale natural gas mineral and royalty assets for an undisclosed amount. The deal added 435,000 gross unit…
Read More...The Ohio Department of Natural Resources (ODNR) released production numbers for the second quarter of 2024 yesterday. The story the numbers tell continues to be about Utica oil, which continues to rise each quarter. Ohio’s total oil production during 2Q24 was 8.01 million barrels, up 23% from 2Q23’s 6.5 million barrels and up 11% from…
Read More...For the week of Aug. 26 – Sept. 1, a total of 32 permits were issued to drill new shale wells in Marcellus/Utica, nearly matching the previous week’s 34. It’s nice to see the numbers returning to higher levels. The Keystone State (PA) had 18 new permits. PA’s top recipient was EQT (and its subsidiary…
Read More...There’s just no way to sugarcoat the fact that the low low price for natural gas is having an impact on shale drillers in the Marcellus/Utica. According to an analyst with RBN Energy, a price plunge to near the $2/MMBtu level in early 2023 “crippled” financial results for the companies RBN monitors that are gas-focused…
Read More...Here’s a court case that flew under the radar until now. It’s a case that has the potential to affect some drillers and some royalty owners in Ohio. Sabre Energy Corporation (the plaintiff) sued Gulfport Energy Corporation and Antero Resources Corporation (the defendants) for breach of contract. Sabre Energy owns Overriding Royalty Interests (ORRIs), or…
Read More...Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its second quarter 2024 update last week. The company reports net production averaged 3.4 billion cubic feet equivalent per day (Bcfe/d) during 2Q24, an increase of 1% year-over-year (i.e., pretty…
Read More...For the week of July 22 – 28, a total of nine permits were issued to drill new shale wells in Marcellus/Utica. Pennsylvania had the fewest with just two new permits, one each for Seneca Resources and Rice Drilling (i.e., EQT). Ohio had the most with four new permits, all of them for EOG Resources…
Read More...We noticed that permit data has already been updated for last week, so we’re bringing you our weekly permit report a day early. For the week of July 1 – 7, a total of 18 permits were issued to drill new shale wells in Marcellus/Utica. There were six new permits issued in Pennsylvania, with four…
Read More...While oil-focused and large diversified drillers in the U.S. made healthy profits during the first quarter of this year (January through March), such was not the case for natural gas-focused drillers. RBN Energy tracks 43 exploration and production (E&P) companies that are publicly traded and reports of those 43 that the 16 oil-focused and 15…
Read More...Two weeks ago, 16 new permits were issued to drill in the Marcellus/Utica region. Last week, May 20-26, the number increased by two to 18. Two drillers tied for the top prize for most new permits. Chesapeake Energy received five new permits, all of them for drilling in Sullivan County, PA. Ascent Resources also received…
Read More...Two weeks ago, during the week of April 15 – 21, there were 16 new permits issued to drill in the Marcellus/Utica. Last week, for the week of April 22 – 28, there were 26 new permits issued. Finally! A little good news on the permit front. Snyder Brothers took the top prize with eight…
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