Ohio Utica O&G Production Rockets in 4Q18 – Top 25 Wells
The Ohio Dept. of Natural Resources (ODNR) issued fourth quarter 2018 numbers for Utica shale oil and gas production yesterday, and wow! Both natural gas and oil production rocketed upward. Natgas production was up 32% over the same period last year, to a new all-time high of 663.5 billion cubic feet (Bcf), and oil production hit 5.8 million barrels, up 39% over last year’s 4Q.
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Diversified Gas & Oil has been on a mission to buy as many non-shale (conventional) oil and gas wells as it can in the Appalachian Basin. It owns over millions of acres and tens of thousands of wells–many of them located in Pennsylvania. Last fall the PA Dept. of Environmental Protection (DEP) told Diversified it wants 1,000 of its nonproducing wells plugged in the next five years. Diversified countered it would like to plug 2,000 wells, but over the next 20 years. They ended up compromising.
West Virginia has the right idea. Their legislature meets for 60 days total at the beginning of each new year, and then they’re pretty much done for the year. Go to Charleston, work hard, then leave and go back to your day job. Part-time legislators. Love it! The 2019 session is now done and dusted. In the closing days of the session, two bills to help the oil and gas industry got passed and now wait for Gov. Jim Justice to sign them. However, one very important bill for the industry did not pass.
Ever notice how predators like to hunt in packs? First the Chester County, PA District Attorney launched an ethically questionable “investigation” into “crimes” that may have been committed by building the Mariner East pipelines through his county (see 
Two weeks ago MDN told you that New Jersey radicals had succeeded in scuttling a plan to convert an old coal-fired electric plant into using natural gas (see 
Last September MDN told you that a new natgas-fired electric plant planned for the People’s Republic of Rhode Island in Burrillville was on life support, with antis reaching to pull the plug (see 
Cue the dramatic music, cameras pan on the audience (audience members wearing freakish costumes). It’s time for the beginning of the Natural Gas Hunger Games. We have two contestants: New England and the Canadian Maritimes. Only one will survive and have access to barely enough natural gas to sustain life. Which will it be? Re-cue dramatic music with drums…
MARCELLUS/UTICA REGION: $500 million Pennsylvania nuclear rescue plan triggers fierce battle from rival power producers; NATIONAL: More than 60% of electric generating capacity installed in 2018 was fueled by natural gas; Optimism reigns for U.S. LNG as global supply fear wanes; Overt focus on U.S. shale decline rates misguided as output rise will continue; INTERNATIONAL: EU’s U.S. LNG imports soar as diplomatic talks continue; CERAWeek: Lukoil to release new natural gas strategy this autumn.