It’s been a financial roller coaster for oil and gas drillers over the past 15 years. Investors in shale oil and gas companies suffered for years with little or no returns for their invested money. Five of eight large Marcellus/Utica drillers saw their share prices decrease by an astonishing 85% or more from 2008 to…
Read More...A month ago, MDN shared the rumor that Chesapeake Energy Corporation is sniffing around Southwestern Energy, looking to buy out and merge in its closest O&G peer (see Chesapeake Energy Exploring a Merger with Southwestern Energy). One of Chesapeake’s largest investors, Kimmeridge Energy Management Co. — what the financial industry calls an “activist investor” (which…
Read More...New shale permits issued for Nov 6 – 12 in the Marcellus/Utica slipped but still turned in a respectable number. There were 22 new permits issued last week, versus 37 issued the week before. Last week’s permit tally included 6 new permits in Pennsylvania, 16 new permits in Ohio, and no new permits in West…
Read More...New shale permits issued for Oct 30 – Nov 5 in the Marcellus/Utica saw a significant increase. It almost felt like old times again! There were 37 new permits issued last week, versus 26 the week before. Last week’s permit tally included 24 new permits in Pennsylvania, 11 new permits in Ohio, and 2 new…
Read More...Southwestern Energy, with major assets in the Marcellus/Utica and Louisiana Haynesville, issued its third quarter 2023 update last week. The company generated $45 million in net income for the quarter versus profiting $450 million in 3Q22. Southwestern reported total net production of 425 Bcfe (billion cubic feet equivalent), or 4.6 Bcfe per day, including 4.0…
Read More...New shale permits issued for Oct 23 – 29 in the Marcellus/Utica increased again. There were 26 new permits issued last week, versus 22 the week before. Last week’s permit tally included 18 new permits in Pennsylvania, 7 new permits in Ohio, and 1 new permit in West Virginia. Coterra Energy was the top permittee…
Read More...New shale permits issued for Oct 16 – 22 in the Marcellus/Utica rebounded. There were 22 new permits issued last week, versus 14 the week before. Last week’s permit tally included 17 new permits in Pennsylvania, 5 new permits in Ohio, and no new permits in West Virginia. Chesapeake Energy was the top permittee for…
Read More...Oh boy, here we go again. The rumor mill is in overdrive. Reuters (which is pretty reliable with these kinds of reports) is reporting that Chesapeake Energy Corporation is sniffing around Southwestern Energy, looking to buy out and merge in its closest O&G peer. Both Chesapeake and Southwestern have significant, long-time Marcellus assets (in Pennsylvania),…
Read More...New shale permits issued for Sep 25 – Oct 1 in the Marcellus/Utica were up a few ticks from the previous week. There were 23 new permits issued last week, up from 21 permits issued two weeks ago. Last week’s permit tally included 10 new permits in Pennsylvania, no new permits in Ohio, and a…
Read More...New shale permits issued for Sep 18 – 24 in the Marcellus/Utica were roughly the same as the prior week. There were 21 new permits issued last week, down 1 from permits issued two weeks ago. Last week’s permit tally included 11 new permits in Pennsylvania, 4 new permits in Ohio, and 6 new permits…
Read More...According to an analysis by S&P Global Commodity Insights, large U.S. shale gas drillers (namely Marcellus/Utica drillers) have hedged (pre-sold at a specific price) an average of 50% of anticipated shale gas production for the second half of 2023. The average price of the hedges is $3.35/Mcf, far above the average NYMEX Henry Hub price…
Read More...In August, the Executive Director of the Susquehanna River Basin Commission (SRBC) approved 34 water-use permits for individual shale gas well drilling pads in Bradford, Lycoming, Sullivan, Susquehanna, and Tioga counties. We’re just learning of the action via an official notice published in the Sept. 23 edition of the Pennsylvania Bulletin. The approvals, which are…
Read More...Investors in shale oil and gas companies suffered for years with little or no returns for the money they invested. Five of eight large Marcellus/Utica drillers saw their share prices decrease by an astonishing 85% or more from 2008 to 2019 (see Former EQT CEO: Shale Revolution a “Disaster” for Investors). Just before the COVID…
Read More...New shale permits issued for Sep 11 – 17 in the Marcellus/Utica rebounded. There were 22 new permits issued last week, up from 14 issued two weeks ago. But the increase came from an unlikely source. Last week’s permit tally included 9 new permits in Pennsylvania, 1 new permit in Ohio, and 12 new permits…
Read More...New shale permits issued for Sep 4 – 10 in the Marcellus/Utica continued to be in the crapper. There were 14 new permits issued last week, up 1 from 13 issued two weeks ago, and down from the 16 issued three weeks ago. Not so long ago we routinely saw 30+ issued each week. Last…
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