Northern Oil and Gas, Inc. will acquire certain non-operated natural gas assets in the Appalachian Basin from Reliance Marcellus, LLC, according to Business Wire. The transaction extends Northern’s non-operating model to Appalachia, complementing the company’s existing 183,000 Williston and Permian net acres with 64,000 net acres in Appalachia. Furthermore, it creates a national non-operated franchise,
Read More...Earlier this week, the U.S. Supreme Court agreed to hear PennEast Pipeline Company LLC’s bid to seize land owned by the state of New Jersey to build a $1 billion natural gas pipeline, according to Reuters. The Supreme Court agreed to take up an appeal by PennEast Pipeline Company LLC — a joint venture backed
Read More...David Spigelmyer recently announced his retirement as president of the Marcellus Shale Coalition during the organization’s winter membership meeting, according to the Observer-Reporter. Spigelmyer served as the coalition’s president for the past seven years. He is exiting the natural gas industry with nearly four decades of experience. Spigelmyer will be succeeded by David Callahan, a vice
Read More...The U.S. oil and gas rig count reached its highest level since April, climbing 12 rigs to 442 in the week ended Jan. 27, according to Enverus data. The double-digit jump is likely indicative of a changing mindset stemming from higher oil prices, according to Hellenic Shipping News Worldwide. Although operators are starting to see
Read More...Pennsylvania’s state agencies and local governments are starting to feel the impact of low natural gas prices and little new drilling as they rely on funding from these activities, according to The Morning Call. Pennsylvania’s conservation and environmental protection departments are already warning of significantly less revenue from natural gas royalties and drilling permits. Simultaneously, low natural
Read More...The Mountain Valley Pipeline will abandon its plan to use a blanket permit to cross nearly 500 streams and wetlands and instead seek individual approvals for each crossing, according to CBS 19 News. The decision is expected to make the project, which has already been plagued by regulatory and legal delays, more costly and time-consuming.
Read More...Oil and gas production in the Utica and Marcellus shale plays is expected to decrease next month, according to the U.S. Energy Information Administration. Natural gas production is projected to drop by 118 million cubic feet per day, according to The Youngstown Business Journal. Output in January averaged 33.955 billion cubic feet per day, while
Read More...The outlook for the Marcellus and Utica shale plays is closely tied to demand for LNG exports, according to GlobalData analysts. However, additional pipeline capacity is needed to reach the Gulf Coast from the Appalachian Basin. Currently, the US has an export capacity of 9.17 bcfd. Planned projects and those under construction increase export capacity
Read More...There’s plenty of potential for “significant” oil and natural gas infrastructure development through 2025 as the U.S. economy recovers from COVID-19 and exports increase, according to ICF Resources Inc. ICF completed two scenarios of North American oil and gas markets through The first modeled infrastructure development prior to COVID-19. The second attempted to fully capture
Read More...Although North American gas production felt the majority of the pandemic’s impact on global output last year, demand fared better amid lower prices, according to Natural Gas Intelligence. Rystad Energy, an independent research firm, estimates North American gas production fell 47 billion cubic meters year-over-year to 1,103 bcm in 2020. Simultaneously, global output dropped 3.6%
Read More...The long-contested Keystone XL Pipeline may be reaching the end of its battle with President Joe Biden’s recent decision to revoke a permit for the project, according to The Wall Street Journal. The project’s saga spans more than 12 years, facing judgment from the last three U.S. presidential administrations. The Keystone XL is an expansion
Read More...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...