For the week of Feb 10 – 16, the number of permits issued in the Marcellus/Utica to drill new shale wells soared. Two weeks ago, 24 new permits were issued. Last week, the number increased to 36 new permits issued. The Keystone State (PA) issued the vast majority with 23 new permits last week. Seven…
Read More...We previously reported that INR (Infinity Natural Resources), which drills exclusively in the Marcellus/Utica region, floated an initial public offering (IPO) that brought in money on the high end of expectations and that the newly issued stock immediately started trading some 10% higher (see INR IPO Does Better than Expected, Stock Trading Pops 10% Higher)….
Read More...A couple of encouraging signs for Infinity Natural Resources (INR) and its recent initial public offering (IPO). Two weeks ago, we told you that INR had pulled the trigger on its IPO and was offering new shares, targeting to receive somewhere between $18.00 and $21.00 per share (see Infinity Natural Resources Launches IPO, Hopes to…
Read More...For the week of Jan 20 – 26, permits issued in the Marcellus/Utica to drill new shale wells fell off a proverbial cliff. Two weeks ago, 41 new permits were issued. Last week, the number plummeted to just seven new permits issued. Perhaps the most interesting thing about last week’s numbers is that NO new…
Read More...Condensate production (super-light crude oil) in the Utica Shale’s volatile oil window in eastern Ohio has more than doubled over the past three years. The small number of drillers that focus on drilling for condensate in Ohio (about half a dozen) are due to increase their output of condensate in 2025 and 2026. Who are…
Read More...MDN reported in October that Marcellus/Utica driller Infinity Natural Resources (INR) intended to file an initial public offering (IPO) with the Securities and Exchange Commission hoping to raise $100 million (see M-U Driller Infinity Natural Resources Files for $100 Million IPO). We further reported in December that INR added seven Big Banks to the existing…
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...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…
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