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…
Read More...This morning, Diversified Energy Company (formerly Diversified Gas & Oil) announced it had signed a deal to supply 40 billion cubic feet (Bcf) of natural gas over three years to a “major Gulf Coast LNG facility” for exporting. The contract begins in November (next month!), which means even though Diversified isn’t (yet) willing to identify…
Read More...Last December, Murrysville (PA) Council members voted to lease land for shale drilling under two town parks—Duff Park and Murrysville Community Park (see Murrysville, PA to Vote in Dec. on Plan to Drill Under Two Parks). Murrysville is located in Westmoreland County, in the southwestern part of the state. Olympus Energy pitched proposals to lease…
Read More...The Ohio Department of Natural Resources (ODNR) asked a panel of lawmakers called the Ohio Controlling Board to waive the need for competitive bidding for $11.2 million in contracts to plug orphaned oil and gas wells around the state. Yesterday, the Controlling Board approved the request. The contracts were awarded to two companies: Next LVL…
Read More...Last Friday, RBN Energy published a blog post declaring that the Shell ethane cracker in Monaca (Beaver County), PA, is now “firing on all cylinders.” The post retrospectively covers the project’s history, from construction through recent problems as the plant was commissioned to the present day. We learned something interesting: Shell, a petrochemical giant and…
Read More...Ten permits were issued to drill new shale wells in Marcellus/Utica for the week of Oct. 7 – 13, half the number issued the prior week (see 20 New Shale Well Permits Issued for PA-OH-WV Sep 30 – Oct 6). The Keystone State (PA) had just six new permits, with three going to Range Resources…
Read More...MDN is not a stock-picking service. However, from time to time, we mention the performance of a given company’s stock price if it is unusual or relevant to our audience. We spotted an article by Bloomberg about CNX Resources’ stock price. Last Friday, CNX’s stock hit what Bloomberg calls “a 10-year high,” closing at $36.29….
Read More...There were 20 permits issued to drill new shale wells in Marcellus/Utica for the week of Sept. 30 – Oct. 6, down eight from the 28 issued the prior week. The Keystone State (PA) had eight new permits, with five going to Southwestern Energy (now Expand Energy following a merger with Chesapeake) in both Susquehanna…
Read More...There is no excerpt because this is a protected post. The post Highlights from 2024 Shale Insight Event Held in Erie, PA first appeared on Marcellus Drilling News. This post appeared first on Marcellus Drilling News.
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