New shale permits issued for Jun 12-18 in the Marcellus/Utica gained one. There were 21 new permits issued, up from 20 the previous week. Last week’s permit tally included 12 new permits in Pennsylvania, 6 new permits in Ohio, and 3 new permits in West Virginia. Snyder Brothers scored the most new permits, with 9…
Read More...EOG Resources CEO Lloyd “Billy” Helms spoke at the J.P. Morgan Energy, Power and Renewables Conference in New York City yesterday. Helms had some very interesting comments on his company’s strategy moving forward–a strategy of keeping drilling activity in the Permian about even (not expanding), but increasing drilling activity in other plays, including the Ohio…
Read More...Gulfport Energy issued a press release yesterday to announce that several unnamed stockholders, referred to as “certain stockholders,” are offering to sell 1.3 million company shares for $95 per share–for a total value of $123.5 million. If the market supports it, there may be an option to buy an additional 195,000 shares (another $18.5 million)….
Read More...Encino Energy, now Ohio’s biggest oil producer, has agreed to donate $100,000 over the next five years to the Muskingum Watershed Conservancy Foundation to help fund community projects in Tuscarawas, Harrison, Carroll, and Belmont counties. The donation was announced at a press conference on Tuesday at Tappan Lake Marina in Harrison County. The Muskingum Watershed…
Read More...Earlier this month, we noticed a short Bloomberg article about a stray comment made by Exxon Mobile CEO Darren Woods. He was speaking at the Bernstein Annual Strategic Decisions Conference held on June 1 in New York City. Woods said he has tasked the brainiacs who work for Exxon to figure out a way to…
Read More...Very quietly, without issuing a press release, CNX Resources, headquartered in Canonsburg, PA (near Pittsburgh), filed a Form 8-K with the Securities and Exchange Commission to say that on June 15, the company entered into a “definitive purchase sales agreement” to sell various non-operated producing oil and gas assets primarily located in the Appalachian basin
Read More...In October 2021, Cimarex Energy, a Permian driller, and Cabot Oil & Gas, a Pennsylvania Marcellus driller, merged and renamed the company to Coterra Energy (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). Cabot’s Chief Financial Officer (CFO), Scott Schroeder, became the CFO for Coterra. Scott has been with Cabot (now Coterra) for
Read More...For individuals, discretionary income is what’s left after you pay your taxes and fixed costs like housing, food, and clothing. For shale drillers, the equivalent to discretionary income is cash flow from operating activities (CFOA), which is the net income a company generates adjusted for non-cash expenses like depreciation and stock-based compensation, and for changes
Read More...New shale permits issued for Jun 5-11 in the Marcellus/Utica last week dipped a bit from the previous week. There were 20 new permits issued, down from 25 issued the previous week. Last week’s permit tally included 6 new permits for Pennsylvania, 8 new permits for Ohio, and 6 new permits in West Virginia. Ascent
Read More...The Ohio Dept. of Natural Resources (ODNR) recently released production numbers for the first quarter of 2023, and wow! What a surprise! Oil production in the northern Utica Shale skyrocketed, led by wells drilled by Encino Energy. According to an analysis by the Youngstown Business Journal, four shale wells drilled by Encino in Columbiana County
Read More...Two major Marcellus/Utica drillers–Seneca Resources and Northeast Natural Energy (NNE)–have joined the CG Hub, the world’s first commodities trading platform focused exclusively on certified natural gas and certified natural gas certificates. Seneca and Northeast now provide access to a combined 1+ billion cubic feet per day (Bcf/d) of certified natural gas to traders via the
Read More...Yesterday around 30-40 environmental activists (anti-fossil fuelers), along with a handful of local residents, rallied in Beaver, PA, before showing up for the Beaver County Commission regular meeting. The protesters, who want the Shell ethane cracker plant shut down, vented their concerns about the plant to county commissioners. The three county commissioners listened while antis
Read More...New shale permits issued for May 29-Jun 4 in the Marcellus/Utica finally went higher again last week. There were 25 new permits issued, up from the dismal 8 new permits issued the previous week. Last week’s permit tally included 13 new permits for Pennsylvania, 6 new permits for Ohio, and 6 new permits in West
Read More...Last week MDN brought you the news that Northeast Natural Energy (NNE) has begun to drill a geothermal and carbon… Continue reading The post Northeast Natural Energy Drilling for NatGas for “Decades to Come” first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
Read More...It’s possible to track which institutional investors (big investors like BlackRock) are buying or selling shares in various companies by… Continue reading The post Who Bought and Who Sold the Most Shares of M-U Drillers in 1Q23 first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
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