One week ago, MDN told you that Ohio House Bill (HB) 308 had passed votes by both the full House and Senate and was heading to the desk of RINO Gov. Mike DeWine for his signature (see OH Senate Passes Bill Extending Time Drillers Can Frack State Land). HB 308 extends the standard lease terms…
Read More...JobsOhio, a private, nonprofit corporation that works on behalf of the state to drive job creation and new capital investment in Ohio by attracting business, contracts out economic research to Cleveland State University (CSU) to keep tabs on the Utica Shale industry. JobsOhio released the latest CSU updated report yesterday (full copy below), showing that…
Read More...Oil wildcatting is the process of drilling exploratory wells in areas with little to no history of oil and gas production. Wildcatting is a high-risk activity that involves drilling in unproven or fully depleted areas. Wildcat wells are often drilled far from other wells and without the use of well logs or other geological data….
Read More...MDN reported that in early October that Infinity Natural Resources (INR) filed an IPO with the Securities and Exchange Commission (SEC) hoping to raise $100 million (see M-U Driller Infinity Natural Resources Files for $100 Million IPO). Citigroup, Raymond James, and RBC Capital Markets were the original Big Bank underwriters. At the end of November,…
Read More...The Baker Hughes national rig count dramatically increased two weeks ago, adding seven rigs for a national count of 589 (see OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589). Last week, the national count didn’t change, and we are holding on to the gains made the previous week…
Read More...We’ve brought you the news (a number of times) of how Encino Energy was the first driller to figure out how to coax large quantities of oil from the Ohio Utica Shale (see Oil Prod. in Northern Utica Comes Alive – Encino Cracks Oil Code). According to Encino founder and CEO Hardy Murchison, the oil…
Read More...We spotted an interesting article in the Steubenville, Ohio, Herald-Star newspaper that tackles the issue of using eminent domain in the state for various kinds of pipelines. It provides an excellent history of eminent domain used not only for oil and natural gas pipelines but also how the Mariner East pipeline project led to “expanding”…
Read More...In something of a surprise (for us), the Ohio State Senate passed House Bill (HB) 308 yesterday, a bill that extends the standard lease terms for drillers who want to drill under (not on) state-owned land from three years to five years. The bill also extends the total amount of time fracking operations can last…
Read More...Yesterday, the U.S. Energy Information Administration (EIA) reported five states produced more than 70% of the record 113.1 billion cubic feet per day (Bcf/d) of U.S. marketed natural gas production in 2023. Two of the five were in the Marcellus/Utica: Pennsylvania (18% of the country’s gas) and West Virginia (8% of the country’s gas). We…
Read More...One month ago, we brought you the news that Diversified Energy and EQT Corporation had settled a class action lawsuit originally brought by several West Virginia landowners (see EQT, Diversified Settle WV Class Action Lawsuit re Old Wells). There is the money aspect of the lawsuit, a payout of up to $6.5 million (subject to…
Read More...The Baker Hughes national rig count dramatically increased last week, adding seven rigs for a national count of 589. Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). Will we break out of the rut and go…
Read More...Hart Energy has published a number of articles highlighting companies and key people in the Marcellus/Utica region. Hart has an ongoing series called Hart Energy’s Hall of Fame to honor industry pioneers and the Agents of Change (ACEs) who are leading the energy sector into the future. A recent Hall of Fame article highlights one…
Read More...The research arm of Enverus (formerly Drillinginfo), one of the most trusted, energy-dedicated SaaS platforms offering real-time access to analytics, insights, and benchmark cost and revenue data, earlier this week published a new report on the Utica Shale. The report specifically discusses Utica oil—the production performance for Utica wells, and the economics of the play….
Read More...According to an extensive report appearing on the World Oil website (and in the November issue of the magazine), multiple possible futures lie ahead for the Marcellus and Utica shales. So, which future will come to pass? Today, both industry and government see the Marcellus and Utica formations as tremendous opportunities for companies and state…
Read More...The Baker Hughes national rig count dropped another rig last week and now sits at 582. The national count continues to be rangebound between 581 and 589 since June. Slicing the national count slightly differently—by oil-focused vs. gas-focused rigs—oil rigs fell by two to 477 last week, their lowest since July, while gas rigs rose…
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