There were 13 new permits issued to drill in the Marcellus/Utica during the week of Feb. 12 – 18, versus 19 permits issued the prior week. Pennsylvania issued 11 new permits last week. Ohio issued no new permits. West Virginia issued 2 new permits last week. Chesapeake Energy landed the most new permits, with 5…
Read More...According to Reuters, oilfield service companies and drillers have put the brakes on hiring and “further job cuts could loom” as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. We told you yesterday that Chesapeake Energy announced a coming rig and frac crew cut in the…
Read More...Two really big (huge) pieces of news are coming from yesterday’s Equitrans Midstream fourth quarter and full-year 2023 update. The first bit of news is that Equitrans is actively considering a buyout offer. The company doesn’t use that exact language, but that’s what’s happening. This should come as no surprise, given the rumor mill on…
Read More...DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region and other regions like the Haynesville. DTM issued its fourth quarter 2023 update last Friday. The Marcellus/Utica region (which they call Northeast in the report) received several prominent mentions during a conference call with analysts. Also of note were comments by DT…
Read More...Last summer, MDN told you that a new system to assess valuations of shale wells in West Virginia had turned into a royal mess (see WV NatGas Property Tax Rule Still a Mess, 303 Cases Appealed). In January, that mess got a whole lot messier — what we call a hot mess — when a…
Read More...There were 19 new permits issued to drill in the Marcellus/Utica during the week of Feb. 5 – 11, versus 20 permits issued the prior week. Pennsylvania issued 13 new permits last week. Ohio issued 4 new permits. West Virginia issued 2 new permits last week. Range Resources scored the most new permits with 5…
Read More...Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its fourth quarter and full-year 2023 update yesterday. The company reports net production averaged 3.4 billion cubic feet equivalent per day (Bcfe/d) during 4Q23, an increase of 6% year-over-year. Production…
Read More...Earlier this week, MDN reported on a bill making its way through West Virginia’s legislative sausage-making process (see WV Bill Triples Conventional Well Royalty Payments if Made Late). WV House Bill (HB) 4292 attempts to close a loophole affecting landowners and mineral rights owners with a conventional oil or gas well, some of whom suffer…
Read More...The Pittsburgh Post-Gazette has an excellent article reporting on an effort by Tenaska, one of the largest privately operated companies in the U.S., to build a carbon capture and sequestration (CCS) hub spanning tens of thousands of acres in Pennsylvania, Ohio, and West Virginia. Landmen are “knocking on doors again” in all three states, looking…
Read More...West Virginia House Bill (HB) 4292 attempts to close a loophole affecting landowners and mineral rights owners with a conventional oil or gas well. Royalties from conventional O&G wells are typically small, as little as $40-$50 per month. Some energy companies (hopefully very few) that own the wells are intentionally late with royalty payments or…
Read More...There were 20 new permits issued to drill in the Marcellus/Utica during the week of Jan. 29 – Feb. 4, versus 27 permits issued during the prior week. Pennsylvania issued 12 new permits last week. Ohio issued 6 new permits. West Virginia issued 2 new permits last week. We had a tie for the company…
Read More...This is brilliant and something EVERYONE needs to pay attention to. Closely. The Tenth Amendment of the U.S. Constitution states: “The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.” WV Senate Bill (SB) 358 was introduced…
Read More...Last summer, MDN told you that the new system to assess valuations of shale wells in West Virginia had turned into a mess (see WV NatGas Property Tax Rule Still a Mess, 303 Cases Appealed). That mess has just gotten messier — what we call a hot mess. A “clerical error” by a third-party vendor…
Read More...In March 2023, the West Virginia legislature passed House Bill 3110, giving the state Dept. of Environmental Protection (DEP) extra funds to hire more oil and gas well inspectors. At that time, the state had just ten inspectors to oversee not only all of the state’s 75,000 documented/known wells but also the state’s estimated 15,000…
Read More...There were 23 new permits issued to drill in the Marcellus/Utica during the week of Jan. 8-14, versus 18 permits issued for the prior week. Pennsylvania issued 13 new permits last week. Ohio issued just 2 new permits. West Virginia issued 8 new permits — for the second week in a row. EQT scored the…
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