CNX Resources’ Radical Transparency™ program is a first-of-its-kind public-private collaboration announced between CNX and Pennsylvania Governor Josh Shapiro in November 2023 (see CNX Signs Deal with PA Gov. to Increase Setbacks, Other Changes). We’re no fans of Josh Shapiro, a guy who repeatedly attacked the Marcellus industry when he was Attorney General, but sometimes you…
Read More...Roulette Oil & Gas drilled the Guardian Pad B 6H shale gas well in February 2011 in Hebron Township, Potter County. The well was granted inactive status on September 7, 2012. The inactive status expired on September 7, 2017. At that point, the well should have been plugged but was not. On August 23, 2023,…
Read More...There are a lot of nonprofits that do a lot of great work. MDN editor Jim Willis has served on several boards of such groups. We say that to preface two posts today that take aim at nonprofits (otherwise called NGOs or nongovernmental organizations) that are NOT doing great work and, in some cases, are…
Read More...Expand Energy is the new company formed from the merger of Chesapeake Energy with Southwestern Energy. Expand is essentially Chesapeake Energy 2.0. Expand CFO Mohit Singh spoke at last week’s 2025 NAPE Summit in Houston. He had some fascinating things to say, including this: “Just to be clear, in our view, at least 75% of…
Read More...For the week of Jan 27 – Feb 2, the number of permits issued in the Marcellus/Utica to drill new shale wells recovered from the previous week. Two weeks ago, only 7 new permits were issued. Last week, the number increased to 22 new permits issued. Whereas the Keystone State (PA) issued no new permits…
Read More...We previously reported that INR (Infinity Natural Resources), which drills exclusively in the Marcellus/Utica region, floated an initial public offering (IPO) that brought in money on the high end of expectations and that the newly issued stock immediately started trading some 10% higher (see INR IPO Does Better than Expected, Stock Trading Pops 10% Higher)….
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...We’ve been pretty hard on Equinor since 2018 when Statoil changed its name to Equinor, apparently ashamed of being associated with the term oil (see Statoil Gets a New Name Starting Today – Equinor). Equinor, which is based in and owned by Norway, is the largest supplier of energy to Europe. Equinor’s activities span 36…
Read More...The chickens are coming home to roost for Venture Global, an LNG export company that uses loopholes and excuses to avoid selling LNG cargoes to the companies that signed contracts to buy those cargoes. The company recently launched an initial public offering (IPO), hoping to raise $2.3 billion (see Unashamed Venture Global LNG Plans Huge…
Read More...We suppose we shouldn’t be shocked, but we are. Reuters is exclusively reporting that Canadian pension fund CPP Investments, the majority owner of Encino Acquisition Partners (aka Encino Energy), is considering either a sale of the company or possibly an initial public offering (IPO) that values the company at roughly $7 billion. Encino’s claim to…
Read More...In 2018, Equitrans Midstream, the builder of the 303-mile Mountain Valley Pipeline (MVP), proposed to extend MVP by an extra 75 miles from the current terminus in Pittsylvania County, VA, to Alamance County, NC, to provide natural gas for heating and electric generation. The 75-mile extension is called MVP Southgate. In December 2023, MVP changed…
Read More...A couple of encouraging signs for Infinity Natural Resources (INR) and its recent initial public offering (IPO). Two weeks ago, we told you that INR had pulled the trigger on its IPO and was offering new shares, targeting to receive somewhere between $18.00 and $21.00 per share (see Infinity Natural Resources Launches IPO, Hopes to…
Read More...For the week of Jan 20 – 26, permits issued in the Marcellus/Utica to drill new shale wells fell off a proverbial cliff. Two weeks ago, 41 new permits were issued. Last week, the number plummeted to just seven new permits issued. Perhaps the most interesting thing about last week’s numbers is that NO new…
Read More...Yesterday, CNX Resources issued its fourth quarter and full-year 2024 update. The company lost $145 million for the quarter, compared with a profit of $514 million in 4Q23. Production was 141.9 Bcfe (billion cubic feet equivalent) in 4Q24 — which works out to 1.54 Bcfe/d — down from 146.9 Bcfe last year (a drop of…
Read More...National Fuel Gas Company (NFG), headquartered in Buffalo, NY, is the parent company for Marcellus/Utica driller Seneca Resources and the parent of midstream company NFG Midstream (and subsidiary Empire Pipeline). Yesterday, NFG issued its latest quarterly update. The company’s top brass is jazzed about the higher prices of natural gas and what it means for…
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