We don’t write much about Alta Resources, a shale drilling company co-founded by the inventor of shale fracking, George Mitchell. But that doesn’t mean Alta doesn’t drill in the Marcellus. The company owns some 547,000 gross (239,000 net) acres producing natural gas from approximately 900 wells in the Marcellus Shale across Bradford, Wyoming, Sullivan, Lycoming,
Read More...Northern Oil and Gas, Inc., a company that invests in non-operated oil and gas assets (they let others do the drilling), announced yesterday it has purchased 64,000 net acres producing ~120 MMcfe/d (million cubic feet equivalent per day) in the Marcellus/Utica from Reliance Industries Limited (RIL). The cash purchase price is $250 million.This post appeared
Read More...Diversified Gas & Oil (DGO) owns close to 8 million acres of leases with some 60,000 (mostly) conventional oil and gas wells. Their focus has been to acquire quality production and cash flow–regardless of the well or commodity type (gas or oil)–in the Appalachian Basin. DGO currently owns over 400 Marcellus/Utica shale wells in their
Read More...Chesapeake Energy will emerge from Chapter 11 bankruptcy next week having dumped $7 billion of old debt (out of $8.9 billion) and taking on $2.5 billion in new debt financing (see Court Approves Chesapeake Bankruptcy Plan to Dump $7B of Debt). Yesterday the company issued an announcement to say it is raising $1 billion of
Read More...All three M-U states received permits to drill new shale wells last week. Pennsylvania received 22 new permits. Ohio received 2 new permits. And West Virginia received 8 new permits.This post appeared first on Marcellus Drilling News.
Read More...On Friday MDN told you that EQT has partnered with a company called Project Canary (used to be Independent Energy Standards Corporation) to use the TrustWell™ Responsible Gas Program to monitor two EQT gas wells to prove to the world (in particular the global warming lunatics) that EQT’s gas is good and green (see EQT
Read More...Yesterday EQT, the largest natural gas producer in the U.S., announced it is partnering with a Denver, CO company calling itself “Project Canary” on two test shale gas wells, to prove the gas produced is “certified responsibly sourced” natural gas. The test will purportedly prove that EQT is doing a good job of producing its
Read More...CNX released fourth-quarter and full-year numbers yesterday, but without the usual press release summarizing the results. CNX’s top brass did hold a conference call with analysts to discuss the update. Right out of the chute CEO Nick DeIuliis opened up the session by making four points. Nick’s very first point was that “2020 marked the
Read More...Well, this is a bummer. Dave Spigelmyer, someone we consider to be a friend, is retiring from the Marcellus Shale Coalition (MSC) effective today. He will be replaced by MSC board member Dave Callahan, who officially takes over on Monday. Spigelmyer has been president (the second president of the MSC) since 2013. He took over
Read More...Diversified Gas & Oil (DGO) owns close to 8 million acres of leases with some 60,000 (mostly) conventional oil and gas wells. Their focus has been to acquire quality production and cash flow–regardless of the well or commodity type (gas or oil)–in the Appalachian Basin. DGO currently owns over 400 Marcellus/Utica shale wells in their
Read More...It was exactly one year ago that the Pennsylvania Supreme Court ruled in THE most consequential lawsuit for Marcellus Shale drilling we’ve seen, a case called Briggs v Southwestern Energy (see HUGE NEWS: PA Supreme Court Keeps ‘Rule of Capture’ for Fracking). Now that the dust has settled, it’s a good time to take a
Read More...EQT Corporation, the largest natural gas producer in the United States, is asking West Virginia officials to remove two judges from hearing cases brought by landowners against the EQT relating to royalty disputes for alleged improper deductions. EQT wants Judges Timothy Sweeney and David W. Hummel Jr. to be disqualified from at least three cases
Read More...It’s been a long road, but we’re nearing the end. Shell’s $6 billion ethane cracker plant, officially called the Pennsylvania Petrochemicals Complex (PPC), is close to being done. It’s likely the PPC, located in Beaver County, PA, will be up and running sometime next year. When it is, the market for Marcellus/Utica NGLs will profoundly
Read More...Over the objections of a junior creditor group, a judge for the U.S. Bankruptcy Court in Houston said yesterday he will approve Chesapeake Energy’s bankruptcy plan to jettison $7 billion (out of $8.9 billion) worth of debt. Chesapeake will exit bankruptcy within the next 30 days and will continue to retain and drill on its
Read More...In a pair of announcements earlier this week, U.S. Well Services announced it has signed new long-term deals with both Range Resources and EQT to supply “electric fracking” services. We told you in February 2020 that Range had signed on with U.S. Well Services to continue using its electric fracking service (see Range Resources Converts
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