Weekly Shale Drilling Permits Issued for PA, OH, WV for Jun 8-12
The Ohio Dept. of Natural Resources (ODNR) finally restarted issuing permits for Utica drilling last week after a month-long drought of not issuing any new permits. There were 10 new permits issued in PA for shale drilling June 8-12. There were 6 new permits issued in OH for shale drilling during the same time period. There were no new permits issued in WV for shale drilling last week.
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A word you will likely see a lot more of in quarterly updates by oil and gas drillers across the country is the word “impairment.” It’s an accounting term that means the value of an asset (leased acreage or wells) is adjusted, down, to reflect a company’s best guess as to how much revenue that asset can generate. We wrote about impairments back in 2015 (see 
Equitrans, formerly EQT Midstream, separated from EQT in November 2018. Equitrans, via its EQM Midstream affiliate, gathers, processes, and flows most of EQT’s natural gas production, getting it to market. In February Equitrans announced it will absorb EQM, a limited partnership, into the fold (see 
We previously told you that Pennsylvania House Speaker Mike Turzai, a long-time champion for the Marcellus Shale industry, would leave office as of Monday (see 
Vallourec, headquartered in Boulogne-Billancourt, France, manufactures steel pipes used in the oil and gas industry. The company employs some 19,000 people in 20 countries, including the U.S. In fact, Vallourec employed (at least at one time, prior to recent layoffs) more than 750 at three Youngstown, Ohio units: Vallourec Star, VAM USA and Vallourec USA Corp. The company has just announced a new high torque connection for shale drill pipes, something they call “a technological breakthrough for the industry.”
MARCELLUS/UTICA REGION: NY, PA offer vastly different approaches to natural gas; W&J speaker sees positives ahead for oil and gas; PennEast Pipeline – update on request for Supreme Court review; OTHER U.S. REGIONS: US fracking backlog grows to 25 months: Rystad Energy; NATIONAL: Chesapeake reportedly skips interest payment; DOJ petitions the U.S. Supreme Court to stay NWP 12 permit ruling; INTERNATIONAL: As Chinese LNG imports increase, U.S. gains market share.