The Appalachian Methane Initiative (AMI) is a coalition of leading U.S. natural gas companies in the Marcellus/Utica, including Ascent Resources, CNX Resources, EQT Corporation, Equitrans Midstream Corporation (now part of EQT), Expand Energy Corporation, MPLX, and Seneca Resources. AMI uses independent monitoring providers, technical consultants, and top-tier universities to monitor and track methane emissions in…
Read More...CNX Resources’ Radical Transparency™ program is a first-of-its-kind public-private collaboration announced between CNX and Pennsylvania Governor Josh Shapiro in November 2023 (see CNX Signs Deal with PA Gov. to Increase Setbacks, Other Changes). We’re no fans of Josh Shapiro, a guy who repeatedly attacked the Marcellus industry when he was Attorney General, but sometimes you…
Read More...There are a lot of nonprofits that do a lot of great work. MDN editor Jim Willis has served on several boards of such groups. We say that to preface two posts today that take aim at nonprofits (otherwise called NGOs or nongovernmental organizations) that are NOT doing great work and, in some cases, are…
Read More...Yesterday, CNX Resources issued its fourth quarter and full-year 2024 update. The company lost $145 million for the quarter, compared with a profit of $514 million in 4Q23. Production was 141.9 Bcfe (billion cubic feet equivalent) in 4Q24 — which works out to 1.54 Bcfe/d — down from 146.9 Bcfe last year (a drop of…
Read More...Enverus Intelligence Research (EIR), a subsidiary of Enverus, issued a summary of the fourth quarter and full-year 2024 upstream M&A (mergers and acquisitions) activity yesterday. Two of the top five M&A deals include deals in the Marcellus/Utica. Coming in at #3 on the list was EQT’s sale of non-operated assets to Equinor for $1.25 billion…
Read More...In December, CNX Resources announced it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million (see CNX Resources Buys Apex Energy for $505M, Adds Pa. M-U Assets). Apex owns wells, acreage, and pipelines in Westmoreland County, PA….
Read More...The experts at RBN Energy recently analyzed the Q3 2024 financial results for the gas-focused producers the company tracks (mainly Marcellus/Utica producers). The gas-weighted E&Ps RBN follows had the best total shareholder return performance of the three peer groups they tracked through the first nine months of 2024, with a median gain of 14%. On…
Read More...CNX Resources announced in December that it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million (see CNX Resources Buys Apex Energy for $505M, Adds Pa. M-U Assets). Apex owns wells, acreage, and pipelines in Westmoreland County,…
Read More...A leftist anti-fossil group calling itself Protect PT (Penn-Trafford), located in Westmoreland County, PA, backed with big money from Big Green groups, has for years challenged Penn Township ordinances that allow Apex Energy and Huntley & Huntley (now Olympus Energy) to drill and operate shale wells. Protect PT finally struck out (legally) at the Pennsylvania…
Read More...For the week of Dec 9 – 15, permits issued in the Marcellus/Utica remained healthy. There were 22 new permits issued last week, down just a bit from the 28 issued the week before. The Keystone State (PA) issued 17 new permits, with the bulk of them, 11, going to a single driller, PennEnergy Resources,…
Read More...For the week of Dec 2 – 8, permits issued in the Marcellus/Utica bounced back nicely. There were 28 new permits issued last week, more than doubling the 12 issued the week before (and matching the 28 issued three weeks ago). The Keystone State (PA) issued 18 new permits, with eight going to EQT spread…
Read More...CNX Resources announced yesterday it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million. Apex owns wells, acreage, and pipelines in Westmoreland County, PA. The Apex assets are close to, in some cases adjacent to, CNX’s considerable…
Read More...According to an extensive report appearing on the World Oil website (and in the November issue of the magazine), multiple possible futures lie ahead for the Marcellus and Utica shales. So, which future will come to pass? Today, both industry and government see the Marcellus and Utica formations as tremendous opportunities for companies and state…
Read More...For the week of Nov 18 – 24, permits issued in the Marcellus/Utica continued to be strong, with 28 new permits issued, down just two from the 30 issued the prior week. The Keystone State (PA) issued 11 new permits, with five going to CNX Resources, all in Allegheny County. Two permits were issued to…
Read More...Ravi Srivastava The hits continue to roll in from Hart Energy’s DUG Appalachia event held in Pittsburgh earlier this month (two days after the election). Jordan Blum, editorial director for Hart, did a sit-down interview with Ravi Srivastava, president of new technologies for CNX Resources. The conversation was ostensibly about the important role of data…
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