The Pennsylvania Department of Environmental Protection fined Olympus Energy LLC $175,000 for erosion and sedimentation violations at a well pad in Allegheny County, Pennsylvania, according to Farm and Dairy. In a recent press release, the DEP cited several occasions in 2019 when the company allowed sediment-laden water to flow into a tributary of the Youghiogheny
Read More...The Biden administration announced it would suspend oil drilling leases in Alaska’s Arctic National Wildlife Refuge on Tuesday, according to The New York Times. The Biden administration’s decision may effectively block oil and gas drilling in one of the largest tracts of untouched wilderness in the United States, ending an argument between Democrats and Republicans
Read More...Cabot Oil & Gas Corp. has agreed to merge with Cimarex Energy Co. in an all-stock transaction valued at roughly $7.4 billion, according to Bloomberg. The deal will give Cabot shareholders about 49.5% of the combined entity and Cimarex shareholders will control the remainder. The newly merged company will be renamed and based in Houston.
Read More...What is fracking? Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock. Is it safe? What most concerns people about fracturing is
Read More...Pennsylvania democratic lawmakers introduced a group of bills intended to tighten up shale gas industry regulations within the state, according to Farm and Dairy. The legislation is a response to last summer’s grand jury report on the industry, which found the Pennsylvania Department of Environmental Protection failed to protect residents from the health impacts of hydraulic
Read More...Gulfport Energy emerged from Chapter 11 bankruptcy on May 18 with a new board and an improved balance sheet, according to Natural Gas World. The company started a restructuring process in November, looking to eliminate roughly $1.25 billion in debt. “Gulfport has exited bankruptcy with a new board of directors; a strengthened balance sheet, with
Read More...What is fracking? Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock. Is it safe? What most concerns people about fracturing is
Read More...Thirty new permits were issued for Ohio, Pennsylvania and West Virginia from May 10-16, according to Marcellus Drilling News. Pennsylvania received 14 new permits for wells on three pads in the northeast part of the state. Ohio received three new permits in Greene county for Eclipse, which is now owned by Southwestern Energy, on one
Read More...Peregrine Energy Partners continues adding to its portfolio in the Appalachian Basin, agreeing to acquire producing royalties in Bradford County, Pennsylvania from a private seller in its latest deal, according to EIN Presswire. The deal includes production from natural gas wells across 1,700 gross acres under Repsol, who’s been operating in the Marcellus Shale since 2015
Read More...Verde Bio Holdings, Inc. recently agreed to a deal that includes oil and natural gas assets in the DJ Basin of Colorado, the Piceance Basin of northwest Colorado and the Utica Shale of eastern Ohio, according to Yahoo Finance. The company has agreed to purchase the portfolio of mineral and royalty interests held by a
Read More...The U.S. oil and gas rig count jumped 10 during the week ended May 12, totaling 555, according to rig data provider Enverus. Furthermore, upstream operators ended the first quarter on an optimistic note with higher oil prices and an improved outlook for the remainder of 2021. The Permian Basin and Eagle Ford ended the
Read More...Colonial Pipeline Co. paid Eastern European hackers nearly $5 million on Friday last week to resume operations, according to Yahoo Finance. The latest intel on the matter contradicts earlier reports saying the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline, according to sources familiar with the
Read More...Equitrans Midstream Corp. recently announced the Mountain Valley Pipeline’s projected in-service date has been pushed back again, according to the Charleston Gazette-Mail. The company announced it was moving its targeted in-service date from the end of 2021 to the summer of 2022. It predicts the delay will add at least $200 million to the now
Read More...The Pennsylvania legislature is revisiting the prospect of looser environmental standards to conventional oil and gas drillers, according to StateImpact Pennsylvania. If passed House Bill 1144 would make it so companies don’t have to report oil spills under five barrels or brine spills under 15 barrels “unless there is an immediate threat to public health,
Read More...The largest natural gas producer in the U.S. has agreed to acquire more Appalachian assets in a $2.9 billion deal with Alta Resources Development LLC, according to Bloomberg. EQT Corp. will acquire Alta’s interests in upstream and midstream businesses and add 300,000 acres in the Marcellus Shale. The deal comes six months after EQT agreed
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