Friday afternoon, CNX Resources issued a press release to announce it is officially pulling out of the previously announced multi-billion-dollar clean ammonia manufacturing facility in southern West Virginia, part of the ARCH2 (Appalachian Regional Clean Hydrogen Hub) project. Adams Fork Energy, Haldor Topsoe, and CNX announced the project in April with much fanfare (see CNX…
Read More...New shale permits issued for Dec 4 – 10 in the Marcellus/Utica were up by 2 over the previous week. There were 27 new permits issued last week versus 25 issued two weeks ago. However, there was a major surprise! Last week’s permit tally included 8 new permits in Pennsylvania, 9 new permits in Ohio,…
Read More...Earlier this week MDN told you that two of Gulfport Energy’s major investors were conducting a sale of what amounts to 3.5% of the company’s stock (see 2 Gulfport Energy Shareholders Selling 3.5% of Company Stock). One of the investors selling is Silver Point Capital L.P., which owns some 10% of Gulfport’s stock (and has…
Read More...Reuters is reporting a rumor, based on “people familiar with the matter,” that EQT Corporation, the largest natural gas driller in the United States (by production), is shopping its 25% non-operated interest in a number of producing gas wells in northeastern Pennsylvania for $3 billion. Chesapeake Energy is the majority owner and operator of the…
Read More...Spanish-owed Repsol owns (at last check) around 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. Early last year (in January 2022), Repsol closed on a deal to buy Rockdale Marcellus out of bankruptcy for $222 million, adding Rockdale’s 66 producing wells on 42,897…
Read More...Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May 2021 with a new board and top management. In January of this year, the company appointed a new CEO, John Reinhart, the former President and CEO of M-U driller Montage Resources Corporation before Southwestern…
Read More...New shale permits issued for Nov 27 – Dec 3 in the Marcellus/Utica were much improved over the previous few weeks. There were 25 new permits issued last week versus 14 issued two weeks ago and just one new permit three weeks ago. So the trend is our friend! Last week’s permit tally included 15…
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...One of the speakers at the recent Hart Energy DUG Appalachia event in Pittsburgh was Douglas Kris, senior vice president of Diversified Energy. For years, we have highlighted Diversified’s “contrarian” business model (see our Diversified stories here). Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica as well as other regions,…
Read More...Greylock Energy is headquartered in Charleston, WV, with offices in West Virginia, Pennsylvania, Utah, and Wyoming and operations scattered throughout Appalachia and the Rockies. The company’s assets comprise more than 1.19 million acres, about 6,700 wells, including the operation of 4,000 wells throughout Appalachia (shale and conventional) and 2,600 miles of pipeline. Ryan Deaderick, executive…
Read More...There’s been a lot of news coming from the UN COP28 climate event in Dubai. In some respects, we feel like it’s a firehose of news about leftists targeting fossil energy (even though the event is being hosted by the CEO of a fossil fuel company). COP28 runs from Nov. 30 to Dec. 12, so…
Read More...The Ohio Dept. of Natural Resources (ODNR) released production numbers for the third quarter of 2023 late last week, and nobody noticed…except MDN (thanks to a tip from a good friend). ODNR no longer issues a press release to summarize the results as they once did. We’ve got the full spreadsheet with oil and gas…
Read More...Chesapeake Energy is a stellar turnaround story. Years of mountainous debt pushed the company into bankruptcy in June 2020 (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership). After Chessy exited bankruptcy, the new owners booted CEO Doug Lawler in April of 2021 (see Doug Lawler Out as CEO of Chesapeake Energy). Lawler tried…
Read More...Columbiana County, OH, located in the northern portion of the Utica Shale play in the Buckeye State, has recently come roaring back to life. In 2022, there were 41 permits issued to drill in the Utica in Columbiana County. So far, in 2023, there have been 35 permits issued to drill in Columbiana County. But…
Read More...Shell’s mighty ethane cracker plant in Monaca (Beaver County), PA, has been shut down for “weeks” in order to conduct maintenance on the plant. The cracker plant, according to the Pennsylvania Dept. of Environmental Protection (DEP), has been down since October and is just now restarting. By our math, it was down for the entire…
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