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...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
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