Last week we told you that it is the end of an era with the retirement of Dan Dinges from the Coterra Board of Directors (see Dan Dinges, Former Cabot O&G CEO, Retiring from Coterra Board). Dinges served as Chairman, President, and CEO of Cabot Oil & Gas Corporation from May 2002 until the company’s…
Read More...The Pennsylvania Department of Environmental Protection (DEP) reports an estimated 300 barrels (12,600 gallons) of brine wastewater leaked at the Diaz Family Shale Gas Drilling Well Pad 2 owned by Coterra Energy, Inc. in Bridgewater Township, Susquehanna County. Unfortunately, some of the fluid escaped containment and seeped into surrounding areas outside the well pad. The…
Read More...Two weeks ago, MDN brought you the exciting news that President Trump pledged to get the long-dead Pennsylvania Marcellus to New York State Constitution Pipeline built (see Stop Press! Trump Pledges to Revive PA-to-NY Constitution Pipeline). Since then, we’ve eagerly monitored the news to see if there has been any indication that the builder, Williams,…
Read More...Coterra Energy, formed by the merger of Cabot Oil & Gas (drills for natural gas in the Marcellus) and Cimarex Energy (drills for oil in the Permian and Anadarko basins), issued its fourth quarter and full-year 2024 update yesterday. The headline news (for us) is that the company announced it will restart its Marcellus drilling…
Read More...It’s the end of an era. Coterra Energy Inc. yesterday announced that Dan O. Dinges and Robert S. Boswell plan to retire from the Board of Directors at the end of their current term and not stand for re-election at Coterra’s 2025 annual meeting of stockholders. Dan Dinges served as Chairman, President, and CEO of…
Read More...Never in our wildest dreams did we see this one coming. And we must caution against too much hope. However, we are JAZZED. Last Friday, President Trump signed yet another executive order. This EO creates the National Energy Dominance Council, directing the new council to move quickly to increase domestic oil and gas production (see…
Read More...We spotted some news on the investor website GuruFocus that surprised us. Major investment firm Wellington Management Group made “a significant” addition to its portfolio by acquiring 10,406,240 shares of Coterra Energy on Jan. 31. The company paid $27.72 per share, a $288 million investment. But that’s not the biggest surprise. Wellington already owned a…
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...Last November, Coterra Energy announced it would buy “certain assets of Franklin Mountain Energy and Avant Natural Resources” located in the Permian (see Siren Song: Coterra Energy Buys Permian Assets for $4 Billion). The purchase (two deals) gives Coterra another 49,000 acres in Lea County, New Mexico, with 400-550 net Permian oil-drilling locations. The deal…
Read More...The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the January 25 Pennsylvania Bulletin that…
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...For the week of Jan 6 – 12, permits issued in the Marcellus/Utica to drill new shale wells remained healthy. There were 27 new permits issued last week, down three from 30 issued the week before. The Keystone State (PA) issued 13 new permits, with four going to Snyder Brothers in Armstrong County, four going…
Read More...We have two stories about Coterra Energy to share. Coterra was formed in 2021 by the merger of the Marcellus-focused Cabot Oil & Gas and the Permian/Anadarko-focused Cimarex Energy. Unfortunately (for the M-U), the merged company has chosen to concentrate new drilling outside of the northeast Pennsylvania Marcellus until the price of natgas improves (see…
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...The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals for responsible and safe shale drilling. Yesterday, the SRBC board approved 14 new (or renewed) water withdrawal requests within the basin,…
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