Epsilon Energy, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past year and a half, the company has expanded into other plays and now owns assets in the Anadarko (Oklahoma and Texas) and the Permian (Texas and New Mexico). Epsilon typically does not do…
Read More...Atlas Energy Solutions Inc. entered into a definitive agreement with Hi Crush Inc. to acquire all of Hi-Crush’s Permian Basin proppant production assets and the company’s North American logistics operations in a transaction valued at $450 million. Although Atlas focuses solely on the Permian, Hi-Crush sells proppant to multiple basins, including deals with drillers in…
Read More...Two really big (huge) pieces of news are coming from yesterday’s Equitrans Midstream fourth quarter and full-year 2023 update. The first bit of news is that Equitrans is actively considering a buyout offer. The company doesn’t use that exact language, but that’s what’s happening. This should come as no surprise, given the rumor mill on…
Read More...According to sources whispering to reporters from Reuters, Occidental Petroleum is “exploring a sale of Western Midstream Partners,” a U.S. natural gas-focused pipeline operator that has a market value of close to $20 billion. Western Midstream responded to the news report by issuing a press release to say it is NOT engaged in any kind…
Read More...In June 2016, Massachusetts-based Clean Energy Future broke ground on an $800 million, 940-megawatt Utica gas-fired electric plant in Lordstown (Trumbull County), OH (see Lordstown Energy Center Breaks Ground on $890M Electric Plant). The plant was completed and went online in October 2018 (see Lordstown (OH) Energy Center Now Online, Generating 940 MW). In 2019,…
Read More...DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region and other regions like the Haynesville. DTM issued its fourth quarter 2023 update last Friday. The Marcellus/Utica region (which they call Northeast in the report) received several prominent mentions during a conference call with analysts. Also of note were comments by DT…
Read More...From time to time, we bring you news of the latest merger and acquisition (M&A) deals happening, especially the deals that impact the Marcellus/Utica. Often, we don’t highlight large M&A deals if they are exclusively between companies operating in other shale plays and regions. One of those deals we ignored was announced on Monday, a…
Read More...Although oil and natural gas output is still increasing ever-so-slightly, according to experts like Rystad Energy, the rate of production growth has slowed. And because production is slowing, “investments in the shale patch are not expected to grow in 2024, keeping activity and output relatively flat” this year. How does slowing activity in 2024 affect…
Read More...Spire Inc. is the owner and operator of the Spire STL Pipeline, a 65-mile pipeline that connects to and flows Marcellus/Utica gas from the Rockies Express (REX) pipeline in Scott County, IL, to residents and businesses in the St. Louis, MO area. Spire STL has been up and running since 2019 (see Spire Pipeline Ready…
Read More...Even though separately (and together) Chesapeake Energy and Southwestern Energy own MORE assets in the Marcellus/Utica than in the Haynesville shale play, the main driver to do a merger between the two companies is the Haynesville and that play’s close proximity to LNG export facilities along the Gulf Coast. That is the conclusion of most…
Read More...This morning, Chesapeake Energy Corporation and Southwestern Energy Company announced that the two companies agreed to merge in an all-stock transaction valued at $7.4 billion, or $6.69 per share, based on Chesapeake’s closing price on January 10, 2024. Under the terms of the agreement, Southwestern shareholders will receive 0.0867 shares of Chesapeake common stock for…
Read More...Interest in and speculation about a potential mega-merger between Chesapeake Energy (CHK) and Southwestern Energy (SWN) continues to build. On Monday, MDN told you about a story in the Wall Street Journal citing sources who say a merger is close and could be announced this week (see Chesapeake & Southwestern Very Close to Announcing $17B…
Read More...Last October, MDN told you that American Energy Partners, Inc. (AEPT), based in Allentown, PA, with its fingers in several different pies, including subsidiaries in drilling, remediation, water, and more, changed its name to American Environmental Partners, Inc. (see American Energy Partners Changes Name, Swaps Enviro. for Energy). A few days later, MDN exclusively broke…
Read More...In mid-October, the rumor mill kicked into high gear with talk that Chesapeake Energy was sniffing around a merger with Southwestern Energy (see Chesapeake Energy Exploring a Merger with Southwestern Energy). Both Chesapeake and Southwestern have significant, long-time Marcellus assets (in Pennsylvania), and both have added new assets in the Louisiana Haynesville in recent years….
Read More...Hope Gas provides natural gas service to approximately 131,000 residential, industrial, and commercial customers in thirty-five West Virginia counties. In October, Hope closed on acquiring the West Virginia division of Peoples Gas for an undisclosed amount, giving the company another 13,000 customers (see Hope Gas Closes Acquisition of Peoples Gas WV – Adds 13K Customers)….
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