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 2023 update last week. The company reports net production averaged 3.5 billion cubic feet equivalent per day (Bcfe/d) during 2Q23, an increase of 9% year-over-year. Of that…
Read More...Sometime in the next few months, Murrysville (PA) Council members will make a decision about leasing land for shale drilling under Duff Park (234 acres) and Murrysville Community Park (305 acres). Murrysville is located in Westmoreland County in the southwestern part of the state. Olympus Energy is interested and has pitched proposals to lease under…
Read More...EQT Corporation, currently the largest producer of natural gas in the U.S., provided its third quarter update yesterday. And wow! There is plenty to talk about. The company set another drilling world record of 18,264 feet in 48 hours, beating the existing world record set by EQT in the second quarter (see EQT Sets World…
Read More...New shale permits issued for Oct 16 – 22 in the Marcellus/Utica rebounded. There were 22 new permits issued last week, versus 14 the week before. Last week’s permit tally included 17 new permits in Pennsylvania, 5 new permits in Ohio, and no new permits in West Virginia. Chesapeake Energy was the top permittee for…
Read More...Range Resources Corporation, the very first company to drill a shale well targeting the Marcellus Shale layer in Pennsylvania (in 2004), issued its third quarter update yesterday. In prior guidance from earlier this year, Range said it would drill between 60-65 wells in 2023. However, with this latest update, that number was revised down to…
Read More...Yesterday, CNX Resources issued its third quarter 2023 update. Even with a crash in the price of natural gas this year, CNX generated $21 million in net profit during 3Q23 versus losing $427 million in 3Q22. The company also managed to generate $19 million in free cash flow in 3Q23. Of particular interest for us…
Read More...This is one of those times where we scratch our heads and say, Huh? Just last week, we brought you the news that American Energy Partners, Inc. (AEPT), based in Allentown, PA, with its fingers in several different pies, including subsidiaries in drilling, remediation, water, and more, is changing its name to American Environmental Partners,…
Read More...A dozen residents from Greene County, PA, filed a lawsuit on Monday against the East Dunkard Water Authority and several private companies, including CNX Resources, claiming (among other things) that wastewater from CNX’s fracking work in the Marcellus Shale “tainted the water supply in Dunkard Creek” and that the tainted water has affected the health…
Read More...Not even a full two weeks ago, MDN brought you the news that Exxon Mobil, the #5 oil producer in the Permian Basin, is buying Pioneer Natural Resources, the #1 oil producer in the Permian, in an all-stock deal valued at $59.5 billion, plus assuming $5 billion in debt, for a total deal value of…
Read More...Last November, Upper Burrell (Westmoreland County, PA) town supervisors held a hearing, and following that hearing, voted unanimously to approve a new well pad proposed by Olympus Energy (see Olympus Energy’s 4th Upper Burrell Well Pad Wins Unanimous Approval). It was the fourth such well pad approved by the town. Olympus is back and has…
Read More...On Friday, Range Resources Corporation, the very first driller to sink a Marcellus Shale well (in Pennsylvania) back in 2004, announced it had appointed a new member to its Board of Directors — Charles G. Griffie. Mr. Griffie has an extensive background in the oil and gas industry with expertise in managing midstream assets. Among…
Read More...A Susquehanna County, PA judge recently ruled against fractivist lawyers looking for a quick payday in a “Dimock” case stretching back to 2017. In a damning decision against the lawyers, the judge said they repeatedly refused to provide documents in the case even though ordered to by the judge. Not only that, but the lawyers…
Read More...New shale permits issued for Oct 9 – 15 in the Marcellus/Utica gyrated once again, dropping to about half from the previous week. There were 14 new permits issued last week, versus 23 the week before. Last week’s permit tally included 12 new permits in Pennsylvania, no new permits in Ohio, and 2 new permits…
Read More...In August 2022, Seneca Resources, a subsidiary and the drilling arm of National Fuel Gas Company, announced it had achieved an “A” certification grade under the MiQ Standard for Methane Emissions Performance (MiQ Standard), the highest available certification level MiQ awards, for all of the company’s 1+ billion cubic feet per day (Bcf/d) of natural…
Read More...Oh boy, here we go again. The rumor mill is in overdrive. Reuters (which is pretty reliable with these kinds of reports) is reporting that Chesapeake Energy Corporation is sniffing around Southwestern Energy, looking to buy out and merge in its closest O&G peer. Both Chesapeake and Southwestern have significant, long-time Marcellus assets (in Pennsylvania),…
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