XTO Energy began to drill four shale wells in Prospect Borough, Butler County, PA, in 2019. At least one of the wells was drilled down to a depth of nearly 2,000 feet. At some point since that time, XTO decided not to finish the wells and filed a request to plug the wells. A Pennsylvania…
Read More...Back in the summer of 2020, MDN told you about a lawsuit brought by an Ohio rights owner called TERA, an organization that appears to own the royalty rights for a number of leases with wells in Belmont County, OH, drilled by different producers, suing the producers for drilling into the Point Pleasant shale layer…
Read More...Peak Oil: The Pessimism That Just Won’t Die No Matter What! Robert Bradley Founder and CEO of the Institute for Energy Research Principal, MasterResource: A Free-Market Energy Blog…. .… … [Editor’s Note: Peak oil won’t die because pessimism and Malthusian fears of running out are perennial favorites with those eager to scare others into putting
Read More...New Mexico Thrives As Oil Production Booms in the Permian Bill desRosiers External Affairs Coordinator, Coterra Energy Host, Shale Gas News … … The Permian Basin has made New Mexico the nation’s second largest oil producer and Coterra’s Bill desRosiers reports on the remarkable growth and success. The annual Carlsbad Mayor’s Energy Summit, held October
Read More...Yesterday ExxonMobil released the outlines of its development plan for the next five years. We previously alerted you that Exxon was looking to write down (impair) up to $30 billion of its assets, including (potentially) its assets in the Marcellus/Utica (see ExxonMobil Deciding Fate of XTO Asset Value in 4Q). Indeed it has happened, albeit
Read More...Last week ExxonMobil issued its third-quarter 2020 update, with some relatively big news (for us). The company announced it is currently reviewing and making a decision about whether or not to sell its North American dry gas assets–i.e. XTO Energy. If it sells XTO, it will take a huge write-down in value (assets currently on
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