Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), reported its fourth quarter and full-year 2024 numbers last week. The company drills Utica and Marcellus wells in Ohio. It also has an active drilling program in the Oklahoma SCOOP shale play. Gulfport’s net daily production in 4Q24 averaged…
Read More...For the week of Feb 3 – 9, the number of permits issued in the Marcellus/Utica to drill new shale wells remained healthy. Two weeks ago, 22 new permits were issued. Last week, the number increased to 24 new permits issued. The Keystone State (PA) issued 11 new permits last week. Nine permits went to…
Read More...The experts at RBN Energy recently analyzed the Q3 2024 financial results for the gas-focused producers the company tracks (mainly Marcellus/Utica producers). The gas-weighted E&Ps RBN follows had the best total shareholder return performance of the three peer groups they tracked through the first nine months of 2024, with a median gain of 14%. On…
Read More...For the week of Jan 6 – 12, permits issued in the Marcellus/Utica to drill new shale wells remained healthy. There were 27 new permits issued last week, down three from 30 issued the week before. The Keystone State (PA) issued 13 new permits, with four going to Snyder Brothers in Armstrong County, four going…
Read More...Around 5:37 p.m. last Thursday, an explosion and fire at a well pad in Guernsey County, Ohio, resulted in a half-mile evacuation around the site. No extensive damage and no injuries were reported according to a local fire official. According to a statement issued by Gulfport Energy, a storage tank ignited that was located at…
Read More...Yesterday, the Ohio Oil and Gas Land Management Commission (OGLMC) voted to award a contract to Gulfport Energy to drill and frack under (not on) about 30 acres of the Egypt Valley Wildlife Area in Belmont County. Commissioners also voted to open an additional 884 acres of Salt Fork State Park in Guernsey County for…
Read More...According to an extensive report appearing on the World Oil website (and in the November issue of the magazine), multiple possible futures lie ahead for the Marcellus and Utica shales. So, which future will come to pass? Today, both industry and government see the Marcellus and Utica formations as tremendous opportunities for companies and state…
Read More...For the week of Nov 11 – 17, permits issued in the Marcellus/Utica were strong, with 30 new permits issued, down just slightly from the 34 issued the prior week (but way up from the piddly numbers issued in prior weeks). The Keystone State (PA) issued 16 new permits, with seven going to Range Resources,…
Read More...Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), reported its third quarter 2024 numbers yesterday. The company drills Utica and Marcellus wells in Ohio. It also has an active drilling program in the Oklahoma SCOOP shale play. Gulfport’s net daily production for 3Q24 averaged 1,057.2 MMcfe/d (1.06…
Read More...For the week of Oct 21 – 27, there were 17 permits issued to drill Marcellus/Utica wells, up from 14 permits issued the prior week. The Keystone State (PA) had 12 new permits, with five going to Chesapeake Energy (now Expand Energy) in Wyoming County and two each for PennEnergy Resources (Beaver County) and Coterra…
Read More...There were 32 permits issued to drill new shale wells in Marcellus/Utica for the week of Sept. 16 – 22, more than doubling the 15 issued the prior week. The Keystone State (PA) had nine new permits, with five of them going to EQT in Greene County. The Buckeye State (OH) had 20 new permits….
Read More...The Ohio Department of Natural Resources (ODNR) released production numbers for the second quarter of 2024 yesterday. The story the numbers tell continues to be about Utica oil, which continues to rise each quarter. Ohio’s total oil production during 2Q24 was 8.01 million barrels, up 23% from 2Q23’s 6.5 million barrels and up 11% from…
Read More...There’s just no way to sugarcoat the fact that the low low price for natural gas is having an impact on shale drillers in the Marcellus/Utica. According to an analyst with RBN Energy, a price plunge to near the $2/MMBtu level in early 2023 “crippled” financial results for the companies RBN monitors that are gas-focused…
Read More...The Ohio Oil and Gas Land Management Commission (OGLMC) continues to do its job. Yesterday, the group held a meeting and awarded five contracts for drilling and fracking UNDER (not on) several state-owned lands, including a contract with EOG Resources to drill under 85 acres in Keen Wildlife Area in Washington Township, Harrison County, for…
Read More...Here’s a court case that flew under the radar until now. It’s a case that has the potential to affect some drillers and some royalty owners in Ohio. Sabre Energy Corporation (the plaintiff) sued Gulfport Energy Corporation and Antero Resources Corporation (the defendants) for breach of contract. Sabre Energy owns Overriding Royalty Interests (ORRIs), or…
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