Yesterday, CNX Resources, Bettis Brothers, and The Bus Stops Here Foundation announced a partnership intended to bring greater awareness and access to opportunities in the natural gas industry to disadvantaged urban and rural communities in the Pittsburgh region. Does the Bettis name ring any bells? It should. Pittsburgh-based IntegrServ, a trucking company partly owned by
Read More...All three M-U states received permits to drill new shale wells last week. Pennsylvania received 22 new permits. Ohio received 2 new permits. And West Virginia received 8 new permits.This post appeared first on Marcellus Drilling News.
Read More...CNX released fourth-quarter and full-year numbers yesterday, but without the usual press release summarizing the results. CNX’s top brass did hold a conference call with analysts to discuss the update. Right out of the chute CEO Nick DeIuliis opened up the session by making four points. Nick’s very first point was that “2020 marked the
Read More...Yesterday CNX CEO Nick Deluliis was one of the keynote speakers at the annual DUG (Developing Unconventional Gas) East event, held virtually this year. Normally DUG is held at the Convention Center in Pittsburgh. Deluliis’ talk was wide-ranging, but much of it concentrated on mergers and acquisitions, particularly M&A in the Marcellus/Utica. Deluliis is not
Read More...Yesterday Hart Energy held its annual (always excellent) DUG (Developing Unconventional Gas) East event. Normally the event is held at the Convention Center in Pittsburgh. This year it was an all-virtual event. Among the speakers were CNX CEO Nick Deluliis, PennEnergy Resources CEO Rich Weber, and Ascent Resources CEO Jeff Fisher. While it’s not all
Read More...Last week Pennsylvania issued 16 new shale well drilling permits, and West Virginia issued 7 new shale well permits. Ohio issued no new shale permits last week.This post appeared first on Marcellus Drilling News.
Read More...CNX Resources issued its third-quarter 2020 update yesterday. The company didn’t bother to issue the usual narrative describing what happened during 3Q. Instead, they simply pushed out the financials, a slide deck, and spoke to analysts on a conference call. What did we learn picking through the numbers and the conference call transcript? One thing
Read More...Nick DeIuliis, President and CEO of CNX Resources Corporation, has been an outspoken advocate for the shale gas industry and manufacturing since at least 2017. And we mean outspoken. The trend continues. Nick has just announced a forthcoming book and a new website to continue his pro-fossil fuel advocacy.This post appeared first on Marcellus Drilling
Read More...A few months ago CNX Resources bought out and merged in the remaining amount of CNX Midstream the company didn’t already own (see CNX Resources Buying/Merging in Rest of CNX Midstream for $357M). CNX isn’t waiting until the next quarterly investor conference call to tout the synergies of that move.This post appeared first on Marcellus
Read More...Yesterday MDN brought you the news that CNX Resources is buying out the balance of what they don’t own in their pipeline subsidiary CNX Midstream (see CNX’s Competitive Advantage: Owning Its Own Pipelines). Our take on the news is that by owning their own pipeline network CNX has a distinct competitive advantage. We heard in
Read More...One of our favorite M-U reporters, Paul Gough of the Pittsburgh Business Times, went in search of news about Appalachian shale drilling and its future. He found some rays of light. Gough talked with several of our favorite M-U people–CNX CEO Nick DeIuliis, Deep Well Services CEO Mark Marmo, and Range Resources COO Dennis Degner.
Read More...click for larger version An interesting reaction by investors to CNX Resources’ third quarter update. The company reported production of 128 billion cubic feet equivalent (Bcfe) in 3Q19, an increase of 8% from the 119 Bcfe in 3Q18. They also reported spending $336 million on drilling in 3Q19, compared to $297 million in 3Q18–up 13%.
Read More...CNX Resources has just laid off (i.e. fired) roughly 50 employees company-wide, most of them at company headquarters in Canonsburg. But not all. We heard from an MDN trust source who said at least nine workers got their walking papers in West Virginia. Given the company employs about 500 people, 50 fired represents 10% of
Read More...A little over a year ago CNX Resources announced that the company had signed a long-term contract with Evolution Well Services to use Evolution’s 100% natural gas-fueled electric pressure pumping equipment (see CNX Signs Deal with Evolution to Use 100% Electric Fracking Fleet). That is, CNX will use electric fracking equipment, with the electricity generated
Read More...The Pennsylvania Supreme Court has just upheld a lower court opinion that allows shale drilling to happen *anywhere* in a township, so long as such drilling satisfies standards to protect public health, safety and welfare. This is the end of the road for a lawsuit funded by Big Green that began in 2015 in Westmoreland
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