Ohio’s Top 10 Shale Oil and Gas Producers

We’re always a sucker for a “Top 10” list. We spotted a Top 10 list for Ohio oil and gas producers recently published by Columbus Business First. The list ranks companies by production in 2018 converted to thousand cubic feet equivalent. We’ve also included a nifty graphic from our own Marcellus & Utica Shale Almanac 2018 for Ohio, showing cumulative production for all active shale drillers from 2011-2017. Our list has the same names, but in a different order.
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EQT Launches VoteGoldForEQT.com, Response to Rice Website

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EQT yesterday launched the website VoteGoldForEQT.com in response to the website previously launched by Toby and Derek Rice (the Rice boys), to counter their attempt to take control of the company. The Rice website is EQTPathForward.com. Both websites offer each arguments and defense for why they should control the makeup of the board of directors, and ultimately control the future direction of the company.
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PA Sen. Yaw Sees the Light – Doesn’t Support Severance Tax

Pennsylvania State Sen. Gene Yaw, Republican from Lycoming County, PA, seems to have changed his mind about a severance tax on Marcellus Shale production. The Marcellus Shale Coalition (MSC) visited Williamsport in Yaw’s home district yesterday. At a joint press conference to discuss the superiority of an impact fee to a severance tax, Yaw called those supporting a severance tax “bobbleheads.” Whoa, way to go Sen. Yaw! That’s a far cry from his vote in favor of a severance tax in 2017 (see PA Sen. Gene Yaw Defends Vote for Severance Tax).
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NY DEC Releases Draft Air Permits for Orange Cnty Gas-Fired Plant

New York Gov. Andrew Cuomo tried to stop a fully built, brand new natural gas-fired electric generating plant in Orange County from going operational last year by instructing his Dept. of Environmental Conservation (DEC) to deny renewing an air permit it had approved just five years earlier (see Cuomo Strikes Again: Blocks Completed Gas-Fired Plant from Starting). Fortunately a judge stepped in to prevent the DEC from shutting down the now-operational Competitive Power Ventures (CPV) 680-megawatt Valley Energy Center in Wawayanda (see Judge Refuses to Shut Down Orange County, NY Gas-Fired Plant).
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NGSA Summer Forecast: High Demand + High Production = Flat Prices

The Natural Gas Supply Association (NGSA) yesterday released its 2019 Summer Outlook for Natural Gas report (summary below). It’s not much different than the Winter Outlook was (see NGSA Winter Forecast: High Demand + High Production = Flat Prices). NGSA predicts natural gas demand will reach new all-time highs this summer. However, natural gas production will also hit new all-time highs too. So in the end, prices for natgas (a function of supply and demand) will stay flat.
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Chinese Study Claims CO2 Better than Water in Fracking

From time to time MDN highlights new technologies used in shale drilling. We’ve talked about companies developing alternatives to water as a fracking fluid, things like liquefied petroleum gas (LPG or propane) fracking (see eCORP Tests New Waterless LPG Fracking Method on First Shale Well), and using baby oil as a fracking fluid (see ecorpStim Successfully Fracks PA Marcellus Well Using Baby Oil). Chinese researchers claim they’ve tested fracking with carbon dioxide (CO2), and it works better than water and is (somehow) better for the environment.
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Energy Stories of Interest: Fri, May 31, 2019

MARCELLUS/UTICA REGION: PA Auditor General urges Game Commission to fix its finances, better monitor gas & oil lease revenues; Ohio House approves bill to aid nuclear, coal power plants; NATIONAL: U.S. E&Ps hold line on capex, but production genie out of the bottle as natgas, oil surge; Increased need for oilfield services could tempt majors toward acquisitions: CEO; ‘9 in 10 US shale oil companies burning cash’ – Rystad Energy; Green group updates its takedown of natural gas as bridge to climate solution.
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