Epsilon Energy, a relatively small company, used to concentrate most of its effort on developing (financing) Marcellus Shale wells. However, over the past couple of years, the company has expanded into other plays and owns assets in the Anadarko (Oklahoma and Texas), the Permian (Texas and New Mexico), and now in western Canada. Epsilon typically…
Read More...Two different subsidiaries of National Fuel Gas Company (NFG), Seneca Resources (shale driller) and National Fuel Gas Midstream Company (gathering pipelines), were certified by two different certification authorities, MiQ and Equitable Origin, respectively. Yesterday, NFG announced both companies have been recertified by their respective authorities. Everyone is still responsible. 🙂To view this content, log into…
Read More...As part of its third quarter update, EQT Corporation, now the second-largest natural gas producer in the U.S., dropped the bombshell that it has completely divested from the remaining non-operated wells it owns in northeastern Pennsylvania, selling the assets to Norwegian company Equinor (formerly known as Statoil) for $1.25 billion. You may recall in April,…
Read More...Last Friday, Reuters reported that sources “familiar with the matter” whispered to its reporters that private equity firm Blackstone is “in advanced talks” to acquire minority stakes in the interstate natural gas pipelines now owned by EQT Corp. (following its purchase of Equitrans Midstream) for a whopping $3.5 billion. The deal would help EQT reduce…
Read More...Guy Coviello, President and CEO of the Youngstown/Warren Regional Chamber of Commerce, is jazzed about the resurging Utica Shale and says it’s time to get excited about it. In a recent column, Coviello said it’s time “to once again embrace our friends in the oil and gas industry, for our policymakers to invest in the…
Read More...Last week, CNX Resources issued its third quarter 2024 update. The company made $65.5 million in profit for the quarter, compared with a profit of $21.3 million in 3Q23 (more than doubling net income). Production was 134.5 Bcfe (billion cubic feet equivalent) in 3Q24 — which works out to 1.46 Bcfe/d — down from 143.4…
Read More...In September, the Executive Director of the Susquehanna River Basin Commission (SRBC) renewed 20 water-use permits for individual shale gas well drilling pads in Bradford, Clearfield, Lycoming, Sullivan, and Susquehanna counties. We’re just learning of the action via an official notice published in the Oct. 26 edition of the Pennsylvania Bulletin. The approvals, which are…
Read More...For the week of Oct 14 – 20, there were 14 permits issued to drill Marcellus/Utica wells, up from 10 permits issued the prior week. The Keystone State (PA) had just four new permits (down from six the previous week), with three going to Southwestern Energy (now Expand Energy) in Susquehanna County and one for…
Read More...Yesterday, MDN reported on Range Resources’ third quarter update (see Range 3Q Update: Adding 47 Wells in 2024, NGLs Boost Revenue). We left some things out of our analysis—important things. Range executives said they expect a big increase in natural gas demand right here in Marcellus/Utica and next door in the southeast. The M-U produced…
Read More...As we outline in a companion post today, the Biden-Harris Department of Energy is investing $44 million in a project to drill two carbon dioxide injection wells, one in West Virginia and the other in Ohio (see DOE Spends $44M on Drilling CO2 Injection Wells in WV & OH). Some companies are ready to dive…
Read More...Encino Energy wants to establish new oil and gas wells on Leesville Lake lands owned by the Muskingum Watershed Conservancy District (MWCD) in Carroll County. The conservancy district’s board of directors is expected to consider a lease agreement with the company’s Ohio affiliate at its meeting tomorrow. The left is apoplectic. The MWCD manages over…
Read More...What seemed like a failed exploration in the early 2000s turned into a global economic and geological treasure that helped turn the U.S. into the largest natural gas producer in the world. Thanks to the grit, determination, and belief that there was more to explore, the Range Resources team of 2004 successfully completed the first…
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 2024 update yesterday. Range produced 2.2 Bcfe/d in Q3. The company said it now expects 2024 production to average 2.17 Bcfe/d, up ~2% over the last three years as a…
Read More...Yesterday, EQT announced that the company had reached so-called “net zero” emissions for Scopes 1 and 2 more than a year earlier than planned. The milestone includes assets purchased and added to the company from Alta Resources and Tug Hill/XcL Midstream. However, it does not include the assets added from the Equitrans Midstream merger in…
Read More...Rhode Island State Energy Center (click for larger version) Shell signed an agreement to buy 100% of RISEC Holdings’ 609-megawatt (MW) two-unit combined-cycle gas turbine power plant located near Providence, Rhode Island. Which we find interesting—that Rhode Island (of all places) still has a large gas-fired power plant operating. We thought the commies who run…
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