The Trump administration began the process of auctioning off the development rights to parcels of land in Alaska’s Arctic National Wildlife Refuge on Nov. 16, according to Spectrum News. Oil and gas companies are now able to submit nominations for which parcel of land they’re interested in drilling within the Arctic National Wildlife Refuge’s roughly 1.5
Read More...U.S. shale output is expected to continue declining into next year if crude prices remain in the $40 to $45 range, according to Rystad, a Norwegian energy research firm. Oil and gas companies have been forced to minimize exploration and production costs amid low crude prices. As a result, the average shale oil production is
Read More...The North American oil and gas industry saw fewer bankruptcies in October with only three, according to the latest monthly Oil Patch Bankruptcy Monitor report published Tuesday by Haynes and Boone LLP. However, despite seeing a slowdown, the industry hit an unwelcome milestone in October, recording its 250th bankruptcy filing since Thanksgiving 2014. Furthermore, more
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...Peregrine Energy Partners continues to expand its portfolio in the Marcellus Shale, closing on producing royalty properties in multiple counties across the region, according to EIN Presswire. The company’s most recent acquisitions are located in Greene County, PA and Guernsey County, Ohio, and contain multiple producing wells under EQT and Ascent Resources, respectively. This marks
Read More...Land prices in shale fields across the United States have fallen by more than 70 percent on average since 2018, according to MRT. The average cost of shale acreage has decreased from $17,000 per acre in 2018 to $5,000 per acre in 2020, according to Rystad, a Norwegian energy research firm. Additionally, the firm doesn’t
Read More...Williams reported record natural gas gathering and processing volumes in the Appalachian region during the third quarter amid higher prices, according to Natural Gas Intelligence. Gross gathering volumes for the Northeast gathering and processing segment rose 8% year over year to 9.4 Bcf/d and gross processing plant inlet volumes increased 17% to 1.4 Bcf/d, the
Read More...Equitrans Midstream Corporation recently announced the cost estimate of the Mountain Valley Pipeline is now between $5.8 billion and $6 billion and the project isn’t anticipated to be completed until the second half of 2021, according to the Pennsylvania Business Report. The cost of the Mountain Valley Pipeline was estimated to be $3.7 billion when
Read More...Energy Transfer LP plans to finish work on its Mariner East 2X natural gas liquids pipeline in Pennsylvania by the end of the year, according to Reuters. The 16-inch Mariner East 2X will add another 250,000 bpd to the Mariner East pipeline system, which transports liquids from the Marcellus and Utica shale fields in western
Read More...Ethanol production dropped to record lows in April when stay-at-home orders were put in place and the industry is still struggling, according to Farm and Dairy. Ethanol production took a hit when people stopped driving and demand fell by half. A recent study conducted by economists from the University of Florida and Arizona State University found ethanol producers will
Read More...The Pennsylvania Department of Environmental Protection has finalized the last of three settlements with EQM Gathering OPCO, LLC, assessing civil penalties totaling $427,650 for violations at pipeline sites, according to Farm and Dairy. The DEP entered into a consent order and agreement with EQM for violations that occurred from 2016 through 2019 during construction of
Read More...EQT is in discussions with up to five different unnamed parties to sell some or all of its contracted capacity in the 303-mile Mountain Valley Pipeline that is expected to begin service next year, according to Kallanish Energy. EQT CFO David Khani made the announcement last week in an earnings call with analysts and the
Read More...Antero Resources reported a net loss of $536 million or $1.99 per diluted share in the third quarter 202, Kallanish Energy reports. That compares to a net loss of $879 million or $2.86 per share in the 3Q 2019. The loss was driven by a $749 million unrealized commodity hedge fair value loss as a
Read More...China’s Sinopec is said to be ready to push development and investments towards the hydrogen supply chain, seeking leadership in future energy sources, Kallanish Energy reports. The giant oil refiner reportedly said on Thursday, during its earnings call, that it would “reallocate some of our resources all along the hydrogen chain.” The strategy is “a
Read More...Chinese demand for natural gas is expected to grow by 10% year-on-year this winter, as a Covid-19 recovery spurs higher residential and industrial consumption, state oil companies said on Thursday. Presenting at a gas seminar in Beijing, the companies said demand during the 2020/21 peak winter season is estimated at 148 billion cubic meters (Bcm),
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