Pin Oak Zigs to North Utica as Everyone Else Zags to South Utica
Pin Oak Energy Partners is an interesting company. As we reported in early February, the company recently closed on several deals to acquire 70,000 Utica acres in both Ohio and Pennsylvania, adding to its portfolio (see Pin Oak Energy Buys 70K Utica Acres in OH & PA + Pipeline Assets). The new acreage (and producing well assets) is located in Mahoning and Trumbull counties in Ohio, and Mercer County in Pennsylvania. The amount of the transaction was not disclosed. Neither were the names of the sellers. However, we now have a pretty good idea of who did the selling: Halcon Resources and BP. We have some new insights into the thinking and strategy of Pin Oak by zigging (concentrating on the northern Utica) when it seems everyone else is zagging–abandoning the northern tier for the better-yielding southern Utica…
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Pennsylvania ended 2017 with a bang–at least with respect to natural gas production. Yesterday, the PA Independent Fiscal Office (IFO) released their latest quarterly Natural Gas Production Report for Oct-Dec 2017 (full copy below). It shows natgas production rose 9.8% compared to the same period last year. It also shows the number of producing wells is up 9.2% from last year. Total natural gas production volume was 1,401.8 billion cubic feet (Bcf) and the number of producing wells in 4Q17 was 8,268…
As MDN reported last Friday, the very first cargo of LNG (liquefied natural gas) left the Cove Point LNG export facility in Lusby, Maryland (see 
A brand new midstream (i.e. pipeline) company called Mettle Midstream Partners has just launched. Two private investment firms, Pearl Energy Investments and Natural Gas Partners, are investing a cumulative $100 million in the new venture. Quite a vote of confidence! Mettle is based in Dallas, TX, but is looking to buy or build “first-class midstream assets in resilient unconventional plays across the U.S.” Will one of those areas be the Marcellus/Utica? Consider this: The company’s president and chief commercial officer has worked in a number of shale plays, including the Marcellus/Utica. While the company doesn’t specifically say they are targeting our region, we think it’s a pretty safe bet they are…
In the ongoing effort by Democrats and their sycophantic, servile media partners to oust Donald Trump from the White House by using a concocted, false story of “Russian collusion” in the elections–the REAL Russian collusion story is missed. That story is how Russia, using social media platforms and funding American anti-fossil fuel groups, has tried its best to interfere with and change American energy policy. Specifically, the Russians have targeted shale natural gas production–hoping to curtail or even stop our prolific production of natgas from shale plays like the Marcellus/Utica. The REAL story of Russian collusion and tampering in our politics can be found in a report recently released by the United States Congress, a report ignored by the so-called press…
The “best of the rest”–stories that caught MDN’s eye that you may be interested in reading: Atlantic Sunrise Pipe gives $10K to Lycoming College; Athens, OH frack ban charter now in hands of Appeals Court; Trump’s steel tariff doesn’t hurt oil & gas nearly as much as industry is saying; Wall Street wants to be paid–by drillers; oil from shale “resilient” at $50 according to Hess CEO; natgas storage math; moving tribute to natgas friend Nick Grealy; sorry OPEC–shale is about to turn a profit this year; U.S. emerging as India’s new energy partner; and more!