For years, we have watched natural gas production in oil-focused plays like the Permian (in Texas and New Mexico) steadily rise. It was an annoyance, a curiosity, mostly an afterthought because production in the Marcellus/Utica, where we concentrate our attention, was also rising and quite dominant. But the M-U hit a plateau in December 2019…
Read More...The radicalized environmental left does itself no favors with its antics and histrionics aimed at bullying public officials. Case in point: On Wednesday, Feb. 21, a small group of activists (six or seven) with Third Act Virginia were removed from Attorney General Jason Miyares’ office in Richmond after staging a sit-in. The wackos were there…
Read More...Encino Energy purchased Chesapeake Energy’s Ohio oil and gas assets (including Utica Shale assets) in 2018 for $2 billion (see Encino Takes Over from Chesapeake in Ohio Utica; Big Plans). A few months later, Encino CEO Hardy Murchison and COO Ray Walker (formerly of Range Resources) told attendees at a conference they would do oil…
Read More...Once a month, the analysts at the U.S. Energy Information Administration (EIA) issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months or so. We sometimes poke good-natured fun at the EIA because their predictions go up in one month, and in…
Read More...Perhaps our headline is slightly misleading. EOG is not the modern equivalent of Jed Clampett walking along and seeing crude bubbling up out of the ground (as in the fictional The Beverly Hillbillies show of the 1960s with the “Ballad of Jed Clampett” that says, “Oil that is, black gold, Texas tea.”). What EOG and…
Read More...U.S. oil production increased by 21% over the past five years. According to data from the Energy Information Administration (EIA), in 2023, U.S. oil producers set a new annual all-time high production record. The increase in U.S. oil production is driven by a surge of production in a handful of states. We have a list…
Read More...Hart Energy keeps the hits rolling, publishing interviews and articles from the recent DUG Appalachia event held in Pittsburgh in November. The latest is a transcript of an interview between Hart Energy’s editorial director and Encino Energy’s CTO. According to the CTO, the company uses “machine learning” to perfect its oil drilling in the northern…
Read More...UAW Strike and EV Bust Threaten to Kill Our Auto Industry Ronald Stein Ambassador for Energy & Infrastructure, Irvine, California .. .… … [Editor’s Note: The UAW strike, combined with foolish pursuit of the EV dream and then bust, are strangling our American auto industry. Workers, once again, will pay the price.] In today’s world,
Read More...The left is slowly, begrudgingly, but inevitably coming to the conclusion that so-called peak oil demand–the theory that other forms of energy will replace oil and that oil demand will diminish–is “pure fantasy.” Axios, founded by former POLITICO “journalists” and catering to Gen Z lefties with attention deficit disorder from growing up playing video games…
Read More...EV Mandates Equal Out-of-Sight, Out-of-Mind Child Labor Ronald Stein Ambassador for Energy & Infrastructure, Irvine, California .. .… … [Editor’s Note: The cruel reality of EV mandates and other “green energy” schemes is that they depend on out-of-sight, out-of-mind child labor in the poorest parts of the world.] Global cobalt demand soared with the advent
Read More...It’s getting even uglier out there. For the sixth week in a row and the 15th of the last 16 weeks, the U.S. active rig count lost rigs. A lot of rigs. Last week the number decreased by a whopping 12 rigs after falling by five rigs per week for the three weeks prior. The…
Read More...Folks new to the Marcellus/Utica may not know this, but Chesapeake Energy’s then-CEO Aubrey McClendon first “discovered” the Ohio Utica about 15 years ago. Under McClendon, Chesapeake spent over $2 billion acquiring rights to drill 1.3 million acres in Ohio–or roughly 5% of the state’s land area. McClendon pegged the value of the Utica for…
Read More...Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. The latest monthly report, issued Tuesday, predicts that U.S. natural gas production AND demand will rise to record highs in 2023. EIA projected…
Read More...In 2020, EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), sold *all* of its Marcellus assets, which were located in Bradford County, PA, to Tilden Resources for $130 million (see EOG Resources Sells Marcellus Assets for $130M, Exits Basin). EOG left the M-U…
Read More...According to analysis by John Kemp at Reuters, lower prices for oil and a slowdown in drilling activity are finally causing crude oil output to peak and turn down. In May, crude and condensates production for the Lower 48 states (excluding Gulf of Mexico production) rose by just 19,000 barrels per day compared with April….
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