EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns a huge 430,000+ acres of leases in the Ohio Utica. EOG calls its position the “Ohio Utica combo play” and now considers it one of the company’s “premium plays.” EOG concentrates on oil drilling…
Read More...Epsilon Energy, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past year and a half, the company has expanded into other plays and now owns assets in the Anadarko (Oklahoma and Texas) and the Permian (Texas and New Mexico). Epsilon typically does not do…
Read More...Our worst fears about the merger between Cabot Oil & Gas and Cimarex Energy to form Coterra Energy have come to pass. We said from the beginning that the new company would use the Marcellus as a “cash cow” to fund more oil drilling. That’s now happening. Yes, the price of natural gas (especially in…
Read More...Although Shell maintains flaring and accidental emissions from its new multi-billion-dollar ethane cracker in Beaver County, PA, have not violated state and federal air standards, the Pennsylvania Dept. of Environmental Protection (DEP) says they have — on numerous occasions. Shell didn’t argue the point, and last May, the company agreed to pay nearly $10 million…
Read More...There were 13 new permits issued to drill in the Marcellus/Utica during the week of Feb. 12 – 18, versus 19 permits issued the prior week. Pennsylvania issued 11 new permits last week. Ohio issued no new permits. West Virginia issued 2 new permits last week. Chesapeake Energy landed the most new permits, with 5…
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 fourth quarter and full-year 2023 update yesterday. The company previously released operational details for 4Q23 (see Range Releases 4Q Production & Pricing Numbers, Proved Reserves). During 4Q, Range produced 2.2 Bcfe/d (billion…
Read More...Southwestern Energy, with major assets in the Marcellus/Utica and Louisiana Haynesville, issued its fourth quarter and full-year 2023 update yesterday. You may recall that Southwestern recently agreed to a deal to be acquired by and merged into Chesapeake Energy (see Deal is Done! Chesapeake & Southwestern Announce $7.4B Merger). Because of the impending merger, Southwestern…
Read More...Chesapeake Energy issued its fourth quarter and full-year 2023 update yesterday, complete with commentary on what’s coming in 2024. And yes, there was some big news coming from that update. Some of the biggest news (that moved the entire market) is that while Chesapeake produced an average of 3.66 Bcfe/d (billion cubic feet equivalent per…
Read More...Finally, here’s a little good news to write about regarding the price of natural gas! The NYMEX front month futures contract yesterday started the day with a bang based on announcements from the previous evening (in advance of a conference call) from Chesapeake Energy that the company plans to scale back production by roughly 1…
Read More...Last week, 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 fourth quarter and full-year 2023 update, which we covered (see Antero 4Q – Production Up 6%, Profits Down 87%, 21 New Wells). While we picked up and…
Read More...There were 19 new permits issued to drill in the Marcellus/Utica during the week of Feb. 5 – 11, versus 20 permits issued the prior week. Pennsylvania issued 13 new permits last week. Ohio issued 4 new permits. West Virginia issued 2 new permits last week. Range Resources scored the most new permits with 5…
Read More...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 fourth quarter and full-year 2023 update yesterday. The company reports net production averaged 3.4 billion cubic feet equivalent per day (Bcfe/d) during 4Q23, an increase of 6% year-over-year. Production…
Read More...In December 2019, New York Attorney General Tish James and her highly-paid associates were thoroughly, completely, 100% humiliated in court when their case against Exxon Mobil, accusing the company of screwing shareholders by keeping secret knowledge they are toasting Mom Earth, was itself toast (see Judge Finds Exxon Not Guilty in Fraud Case – NY…
Read More...EQT Corporation, the largest natural gas producer in the U.S. (100% focused on the Marcellus/Utica) released its fourth quarter and full-year 2023 update yesterday. According to CEO Toby Rice, 2023 was a big year for the company which “set multiple drilling world records” and achieved its highest completion efficiency pace ever. Last year, EQT closed…
Read More...From time to time, we bring you news of the latest merger and acquisition (M&A) deals happening, especially the deals that impact the Marcellus/Utica. Often, we don’t highlight large M&A deals if they are exclusively between companies operating in other shale plays and regions. One of those deals we ignored was announced on Monday, a…
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