After five weeks of adding rigs, the Baker Hughes U.S. rig count decreased by a single rig last week. The national rig count now stands at 592. As for the Marcellus/Utica, the rig count was a combined 35 last week, retaining a rig added in West Virginia three weeks ago. Rigs focused on the Marcellus…
Read More...This morning, Diversified Energy, FuelCell Energy, and TESIAC announced a strategic partnership “intended to address the urgent energy needs of data centers” by supplying as much as 360 megawatts (MW) of electricity to three distinct locations in Virginia, West Virginia, and Kentucky. The partnership has agreed to create an Acquisition and Development Company (ADC), essentially…
Read More...For the week of Feb 24 – Mar 2, the number of permits issued in the Marcellus/Utica to drill new shale wells increased by a couple. Four weeks ago, 24 new permits were issued. Three weeks ago, the number increased to 36 new permits. Two weeks ago, the number deflated, going down to 14. Last…
Read More...There are deadbeats in every industry, including (unfortunately) the oil and gas industry. Some O&G producers in West Virginia are gaming the system by not paying landowners/rights owners the royalties they are due. Typically, this does not apply to shale drillers, mostly larger companies. However, with (some, very few) smaller conventional drillers, they just don’t…
Read More...In something of a bombshell announcement, the CEO of Mon Power parent First Energy said the company plans to replace its West Virginia coal plants with natural gas plants. Mon Power’s Harrison and Fort Martin coal-fired plants are scheduled to shut down between 2035 and 2040. The company will construct 3 to 4 gigawatts (GW)…
Read More...For the fifth week in a row, the Baker Hughes U.S. rig count added rigs—the first time that has happened since May 2022. Last week, the count added a single new rig for a new total of 593. The national count remained in a tight range of 581-589 for much of last year. We’ve officially…
Read More...For the week of Feb 17 – 23, the number of permits issued in the Marcellus/Utica to drill new shale wells fell back to earth. Three weeks ago, 24 new permits were issued. Two weeks ago, the number increased to 36 new permits. Last week the number deflated, going down to 14. The Keystone State…
Read More...You know we delight in connecting the dots that others often miss. We spotted big news in the quarterly update for DT Midstream (DTM), headquartered in Detroit, which owns major assets in the Marcellus/Utica region and other regions like the Haynesville. Earlier this year the company closed on the purchase of three pipeline systems, two…
Read More...For the fourth week in a row, the Baker Hughes U.S. rig count added rigs—to the highest level since last June! Three weeks ago, the rig count gained four rigs to 586. Two weeks ago, the count regained another two rigs to 588. Last week, the count added four new rigs for 592. Note that…
Read More...For the week of Feb 10 – 16, the number of permits issued in the Marcellus/Utica to drill new shale wells soared. Two weeks ago, 24 new permits were issued. Last week, the number increased to 36 new permits issued. The Keystone State (PA) issued the vast majority with 23 new permits last week. Seven…
Read More...For the third week in a row, the Baker Hughes U.S. rig count regained some of the rigs lost earlier this year. Two weeks ago, the rig count gained four rigs to 586. Last week the count regained another two rigs to 588. Note that for much of last year, the national count remained in…
Read More...For the week of Feb 3 – 9, the number of permits issued in the Marcellus/Utica to drill new shale wells remained healthy. Two weeks ago, 22 new permits were issued. Last week, the number increased to 24 new permits issued. The Keystone State (PA) issued 11 new permits last week. Nine permits went to…
Read More...For the second week in a row, the Baker Hughes U.S. rig count regained some of the rigs lost in prior weeks. Two weeks ago, the rig count gained six rigs (see National Rig Count Gains 6 @ 582; M-U Count Steady @ 34). Last week, the rig count gained another four rigs to 586….
Read More...For the week of Jan 27 – Feb 2, the number of permits issued in the Marcellus/Utica to drill new shale wells recovered from the previous week. Two weeks ago, only 7 new permits were issued. Last week, the number increased to 22 new permits issued. Whereas the Keystone State (PA) issued no new permits…
Read More...At the end of the last legislative session in December, New York Gov. Kathy Hochul, an extremist liberal, signed into law a new climate bill forcing a short list of Big Oil companies to pay $75 billion in “recovery” assessments over the next 25 years for their alleged role in causing mythical global warming (see…
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