In early October, Infinity Natural Resources (INR), with 90,000 acres in the Marcellus/Utica, 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). We haven’t written much about INR, a company founded in 2017 and headquartered in Morgantown, WV,…
Read More...The rig count in the Marcellus/Utica appears to have stabilized, and that’s a good thing. For a while, it was in freefall, at least in Pennsylvania. In October, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low;…
Read More...One month ago, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Since then, PA has re-added one rig per week for three weeks in a row, and as of last…
Read More...Environmental wackos have made building a new natural gas pipeline anywhere in the northeast (or southeast) such a heinously nasty experience with multiple and repeated regulatory challenges and a blizzard of lawsuits that nobody has ventured to propose a new “greenfield” (brand new from scratch) pipeline since Mountain Valley Pipeline, which took a decade to…
Read More...Ascent Resources, founded as American Energy Partners by gas legend Aubrey McClendon, is a privately held company focusing 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. The company issued its third quarter 2024 update last…
Read More...EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns nearly a half million acres of leases in the Ohio Utica. EOG calls its position the “Ohio Utica combo play” and now considers it one of the company’s “premium plays.” EOG concentrates on oil…
Read More...We’ve written a number of times about the Ohio Utica Shale and its beginnings with gas legend Aubrey McClendon, who, as CEO of Chesapeake Energy, was one of (if not THE) first to recognize the Utica as an oil play. However, it was a successor company, Encino Energy, that figured out how to coax large…
Read More...Three weeks ago, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Two weeks ago, PA picked up a rig, returning to 13 active rigs. Last week, Baker Hughes reported PA…
Read More...Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), reported its third quarter 2024 numbers yesterday. The company drills Utica and Marcellus wells in Ohio. It also has an active drilling program in the Oklahoma SCOOP shale play. Gulfport’s net daily production for 3Q24 averaged 1,057.2 MMcfe/d (1.06…
Read More...Two weeks ago, Pennsylvania lost another rig, going from 13 rigs down to 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Last week, PA picked up one rig, so the tally is back to 13. It’s…
Read More...The Ohio Natural Energy Institute (which made a mistake in renaming itself; it used to be called the far more descriptive and distinctive Ohio Oil and Gas Energy Education Program, or OOGEEP) announced it had received a $50,000 grant from the Appalachian Regional Commission (ARC) to train Ohio workers in how to plug orphaned oil…
Read More...The realignment we spoke of several weeks ago about Pennsylvania losing rigs to its neighbors has deepened. Last week, PA lost another rig, going from 13 rigs down to 12 rigs, while Ohio picked up one rig and now has 10 active rigs. West Virginia also operated 10 rigs last week. Just two months ago…
Read More...The U.S. Energy Information Administration (EIA) reports that U.S. natural gas production from shale and tight formations declined by about 1% from January through September 2024 compared to the same period in 2023. Most of the decline comes from two shale plays—the Haynesville in Louisiana and Texas (down 12%) and the Utica Shale in Ohio,…
Read More...Last week, MDN brought you a story about a developing issue of who, ultimately, should pay to build out new electricity sources for data centers (and AI) that increasingly use huge amounts of power (see Big Tech and Big Utility Tangle in Ohio re Data Center Electricity). A large utility company in central Ohio, AEP…
Read More...The Ohio Department of Natural Resources (ODNR) asked a panel of lawmakers called the Ohio Controlling Board to waive the need for competitive bidding for $11.2 million in contracts to plug orphaned oil and gas wells around the state. Yesterday, the Controlling Board approved the request. The contracts were awarded to two companies: Next LVL…
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