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),…
Read More...American Energy Partners, Inc. (AEPT), based in Allentown, PA, is a small but diversified company. They have their fingers in a number of different oil and gas pies, including subsidiaries in drilling, remediation, water, and more. We’ve written a number of posts about AEPT, the most recent in July 2022 when the company purchased Austin…
Read More...Yesterday, we brought you the great news that the Marcellus/Utica region scored one of seven major hydrogen hub project grants being dished out by the Bidenistas (see Hydrogen Hub Winners Announced – WV Takes Prize in M-U Region). As we pointed out, West Virginia is the big winner, hosting most of the 15 projects associated…
Read More...Explosive news from the Pittsburgh Business Times about the ill-fated plan by Pennsylvania to try and attract one of 6-10 regional hydrogen hubs to the state. As we told you yesterday, according to Reuters, PA’s application to score a government grant for a hydrogen hub, called the Decarbonization Network of Appalachia (DNA H2Hub), was passed…
Read More...New shale permits issued for Oct 2 – 8 in the Marcellus/Utica were the same exact number as those issued the previous week. But wow, was there a shift in where they were issued! There were 23 new permits issued last week. Last week’s permit tally included a pathetic 4 new permits in Pennsylvania, 1…
Read More...Do you know what the single most responsible force was in liberating the United States from the grip of the dictator thugs of OPEC? Independent shale oil companies. Over the past decade, companies like EOG Resources, Apache, Continental Resources, Concho Resources, and Pioneer Resources broke the grip of OPEC over U.S. oil supplies. Pioneer, as…
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