Akron City Council granted initial approval of a deal to allow horizontal drilling and fracking on 475 acres of public land at La Due Reservoir, situated upstream from the city’s main water supply, according to the Akron Beacon Journal. If approved again on Jan. 25 by all of the council, the deal would add another oil
Read More...Although there is much to be done before Chesapeake formally emerges from bankruptcy, the company has reached “a critical milestone” in its future, according to an email sent to employees by CEO Doug Lawler on Thursday morning. Judge David R. Jones approved Chesapeake’s bankruptcy plan, tying a bow around a package of actions that will
Read More...The Federal Energy Regulatory Commission rendered a 2-1 majority vote last month to allow construction along a 17-mile portion at the northern end of the Mountain Valley Pipeline, according to the Chatham Star Tribune. The FERC issued a stop-work order in 2018 that halted construction within a 25-mile work zone in between two Jefferson National
Read More...The U.S. rig count jumped nine units higher to 360 for the period ending Jan. 8, led by additions in the Permian Basin and Marcellus Shale, according to Baker Hughes. The increase in domestic drilling included the addition of eight oil rigs and one natural gas rig. The Permian Basin added four rigs, bringing its
Read More...Amid a decrease in oil and gas prices, a two-year trend of rising proved reserves of oil and natural gas in the United States has come to a halt, according to the Energy Information Administration. Natural gas proved reserves declined 1.9% year over year in 2019, falling to 494.9 Tcf from 504.5 Tcf. The change
Read More...Cleveland State University researchers recently released a report on shale-related investment in Ohio that found cumulative oil and gas investment through December of 2019 is around $86.4 billion, according to The Heartland Institute. The researchers also found a $9 billion increase in investment in Ohio’s shale sector from 2018 to the fourth quarter of 2019.
Read More...As oil and gas drillers in the Appalachian Basin have been forced to curtail production amid low prices, both permitting and production have seen significant declines, according to Seeking Alpha. Furthermore, the shale basin is expected to see year-over-year declines in production again in 2021. Nearly all Appalachian producers, including Range Resources, Antero Resources, EQT Corporation and Cabot Oil
Read More...How often do royalty payments come? Depending on the company, royalty payments can arrive monthly or quarterly. Are my royalty payments transferable? Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a
Read More...Analysts believe stream-crossing rules proposed by environmental regulators in Virginia may delay the startup of the Mountain Valley natural gas pipeline to 2022, according to Reuters. Incidentally, the companies involved with the project are sticking with their late-2021 target. Natalie Cox, a spokeswoman at Equitrans Midstream Corp, one of the companies building the pipeline, said
Read More...UGI Corporation of Pennsylvania has signed an agreement to purchase Mountaintop Energy Holdings LLC for $540 million, according to the Register-Herald. The sale includes $140 million in debt and a claim to all of Mountaineer Gas’ operating assets as Mountaintop Energy Holdings LLC is the parent company of West Virginia’s largest local gas distribution company. The agreement
Read More...Although the US oil and gas rig count decreased by one to 413 for the week ended Dec. 24, the Permian Basin’s rig count climbed to its highest level since May, according to Hellenic Shipping News Worldwide. The lost rig was a natural gas rig, bringing the total count to 113. Meanwhile oil rigs held
Read More...Plans are moving forward for a New Jersey project that would transport natural gas by rail on one of the longest routes in the country, stretching 200 miles through densely populated areas along the East Coast, according to OPB. Gas from Pennsylvania’s Marcellus Shale will first be sent by pipeline to a new liquefaction plant
Read More...Pennsylvania’s Marcellus Shale will close 2020 with the lowest natural gas rig count of the year and well below where it started the year prior to the outbreak of the COVID-19 pandemic, oil price wars and overall economic strain, according to WPXI. According to Bakers Hughes there were an average of 18 rigs in Pennsylvania
Read More...Pennsylvania Gov. Tom Wolf’s administration is giving $2.5 million to the University of Pittsburgh to study the potential health impacts of fracking, according to StateImpact Pennsylvania. Communities in the southwestern portion of the state have been calling for an investigation into the links between fracking and an increased incidence of some illnesses for more than
Read More...Olympus Energy recently completed its Midas 6M well in Plum Borough with a record lateral length for the Marcellus Shale, according to WXPI. The company completed the Midas 6M with a record-breaking lateral stretching 20,060 feet. The almost 4-mile lateral is a record in the Marcellus among completed and producing wells. Olympus Energy is the
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