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
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...Williams has received a past-due payment of $112 million from Chesapeake Energy Corp., following a court-approved resolution between the companies as part of Chesapeake’s bankruptcy proceedings, according to Natural Gas Intelligence. The Tulsa-based pipeline giant reached a global resolution last month to continue treating and moving Chesapeake’s natural gas in the Lower 48. It received the
Read More...Roger DonwayContributor, MasterResource … … [Editor’s Note: Roger Downey focuses on a problem long known to careful readers of the Wall Street Journal or WSJ; its news pages are shallow claptrap when it comes to “green energy.”] Noam Chomsky, MIT’s famously anti-American professor of linguistics, used to say to his audiences something like: All my
Read More...A new nanomaterial cement mixture may be the solution for sealing leaking natural gas wells, according to Penn State scientists. Leaky wells are considered a potential source of methane emissions. When wells are drilled cement is used to secure the pipe to the surrounding rock, creating a seal that prevents methane from migrating and entering
Read More...