Oil wildcatting is the process of drilling exploratory wells in areas with little to no history of oil and gas production. Wildcatting is a high-risk activity that involves drilling in unproven or fully depleted areas. Wildcat wells are often drilled far from other wells and without the use of well logs or other geological data….
Read More...MDN reported that in early October that Infinity Natural Resources (INR) filed an IPO with the Securities and Exchange Commission (SEC) hoping to raise $100 million (see M-U Driller Infinity Natural Resources Files for $100 Million IPO). Citigroup, Raymond James, and RBC Capital Markets were the original Big Bank underwriters. At the end of November,…
Read More...For the week of Nov 18 – 24, permits issued in the Marcellus/Utica continued to be strong, with 28 new permits issued, down just two from the 30 issued the prior week. The Keystone State (PA) issued 11 new permits, with five going to CNX Resources, all in Allegheny County. Two permits were issued to…
Read More...In early October, Infinity Natural Resources (INR), with 90,000 acres in the Marcellus/Utica, filed an IPO with the Securities and Exchange Commission (SEC), hoping to raise $100 million (see M-U Driller Infinity Natural Resources Files for $100 Million IPO). We haven’t written much about INR, a company founded in 2017 and headquartered in Morgantown, WV,…
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...‘Tis the season for IPOs in the Marcellus/Utica. Two weeks ago BKV Corporation announced it was (finally) launching an initial public offering (IPO) looking to raise in the neighborhood of $300 million (see The Time is Now Right – BKV Launches IPO Hoping to Raise $315M). It ended up getting $270 million (see BKV Adjusts…
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...There were 15 permits issued to drill new shale wells in Marcellus/Utica for the week of Sept. 9 – 15, up one from the previous week. The Keystone State (PA) had six new permits, and all six went to EQT for a single well pad in Greene County. The Buckeye State (OH) had nine new…
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…
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