Penn Production Buys Greylock Assets in Clearfield County, PA
Privately-owned Penn Production Group, LLC, which concentrates on exploration and production for oil and gas in western Pennsylvania, closed on the purchase of certain assets owned by Greylock Energy in Clearfield County, PA on July 30. The assets include 20 miles of pipeline (called Mid Stream) that feeds the gas-fired Shawville GenOn Generating Station and the Dominion pipeline.
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The radicals at the Pennsylvania Environmental Defense Foundation (PEDF) are not just content to block any future use of royalties from drilling on state land to fund only Big Green priorities, as they recently won the right to do (see 
America’s natural gas and oil industry announced “a landmark partnership” in late 2017 called The Environmental Partnership, to “accelerate improvements to environmental performance in operations across the country” (see 
We happen to think the oil and gas industry has sort of lost its collective mind. We’ve lost the battle over fossil fuels by conceding that carbon dioxide, the stuff you emit with every breath you take, is somehow polluting the planet. If we concede that point, it’s all downhill from there. Environmentalist wackos will not stop until all fossil fuels are permanently eliminated from the energy mix–which will be devastating to humankind. But they don’t care. Still, you can’t miss the fact that O&G is “doing its part” to reign in carbon and methane emissions, playing along with the demands of the left. ESG has become a more common phrase in the quarterly updates of O&G companies than barrels of oil and thousands of cubic feet of natural gas. What is O&G doing with respect to ESG, hydrogen, and carbon capture sequestration? And where is it all heading? Will O&G companies actually hit net carbon zero?
Last week both Pennsylvania and West Virginia received permits to drill new shale wells. Ohio was left out of the permit game for a second week in a row. PA received 19 new permits, with 9 going to Range Resources, 4 going to Seneca Resources, and a smattering of others. WV received 9 new permits, all of them in Tyler County and all but 2 given to Antero Resources.
MARCELLUS/UTICA REGION: CEC takes over Chevron headquarters building in Pittsburgh; NATIONAL: WTI oil price to average $75 in 2022 and remain elevated for years; Natural gas futures, spot prices sink as cooler weather arrives; “DUCs down” has made shale’s post-COVID bed softer…so far; LNG seen offering upside as North American gas pipeline buildout winds down; The climate warriors are coming for your gas heater and stove; U.S. natural gas prices flying through summer 2021; INTERNATIONAL: Delta variant causes oil prices to tumble; Forget about peak oil – we haven’t even reached peak coal yet; Hydrogen in the home would be four times more dangerous than natural gas.