3 M-U Wells Drilled by DWS Break World Record for Longest Onshore

Deep Well Services (DWS), headquartered in Butler County, PA, is living up to the company name. DWS is one of our favorite oilfield services companies, born right here in the Marcellus/Utica. DWS specializes in “snubbing” work–completing those super-long laterals you read about. Earlier this year the company drilled three more record-breaking wells–the longest onshore wells ever drilled in the world! The current record-holding well drilled by DWS, completed just last quarter, is located in…
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DPR: All Shale Plays, Incl. M-U, Continue Big Drop in Production

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Yesterday our favorite government agency, the U.S. Energy Information Administration (EIA), published our favorite monthly report, the Drilling Productivity Report (DPR). The latest DPR, which shows estimates for oil and gas production from the seven largest shale plays in the U.S., shows a drop in shale gas production across every single play, including the Marcellus/Utica, coming next month in December. The M-U is forecast to drop another 133 million cubic feet per day (MMcf/d) from production levels in November.
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S&P Interviews Toby Rice: Thoughts on EQT, Chevron, Consolidation

EQT CEO Toby Rice

Toby Rice, CEO of EQT (the largest natural gas producing company in the U.S.), recently granted an interview to a reporter from S&P Global Market Intelligence. The reporter asked some great questions, and Rice provided some interesting answers. Is Biden [if he actually wins] a net positive or negative for shale gas? Who’s EQT’s biggest competitor? What about more consolidation? And what are EQT’s plans for the Chevron assets?
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New Phila. Gas Works CEO-in-Waiting Wants to Expand Gas Sales

Seth Shapiro (credit: Philadelphia Inquirer)

Seth A. Shapiro will become the new CEO of the Philadelphia Gas Works (PGW) at the end of next year when current CEO Craig White retires. Beginning Jan. 4, Shapiro will become PGW’s new chief operating officer. In an interview with the Philly Inquirer, Shapiro shared his thoughts on the future of the country’s largest municipally-owned natural gas utility. What will no doubt be a disappointment to Big Green radicals, Shapiro is not looking to stop the sale of natural gas. In fact, he wants to expand it.
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Railed Marcellus Propane Keeps New England Warm in Winter

New England “doesn’t produce a barrel of crude oil, a gallon of NGLs, or a cubic foot of natural gas.” All of the considerable quantity of fossil fuels the region uses for energy must be brought in–by pipeline (very few pipelines), truck, ship, or rail. Propane is one of the primary heating fuels used in New England. Guess where the region’s propane comes from, and how it gets there?
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Warm Temps, High Storage Level Drives NatGas Price Down $0.30

Once again the price of natural gas traded on the Henry Hub in south Louisiana, the NYMEX December futures contract, has tanked. The price fell $0.30 yesterday to close at $2.70/Mcf. There were two primary reasons why: (1) The U.S. Energy Information Administration (EIA) released a storage report last Friday showing storage levels are near record-highs (too much supply), and (2) longer range weather models show temps staying warm (not enough demand).
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Other Stories of Interest: Tue, Nov 17, 2020

MARCELLUS/UTICA REGION: Oilfield Basics signs partnership agreement with PIOGA; Marcellus Utica Virtual Conference 2020 (video); ShalePro Energy Services profile; OTHER U.S. REGIONS: Tellurian’s Souki seeks new Asia gas deals after Petronet rebuff; NATIONAL: Pipeline Prosperity (video); The great American LNG comeback; In shadow of pandemic, pipeline companies eye efficiency until market stabilizes; Trump races clock on remaining environmental rollbacks; INTERNATIONAL: Equinor sees oil demand peaking two-three years sooner due to virus.
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