Marcellus Drilling News

Chesapeake Energy | Chief Oil & Gas | Energy Companies | Industrywide Issues | M&A | Pennsylvania | Statewide PA

Stop Press! Chesapeake Energy in “Advanced Talks” to Buy Chief O&G
January 20, 2022January 20, 2022

According to super-secret sources talking to Reuters, Chesapeake Energy is in advanced talks to purchase Chief Oil & Gas for $2.4 billion. MDN brought you the news last October that Chief, a private company owned by Texas wildcatter Trevor Rees-Jones, was shopping itself for $3 billion (see Big News: Marcellus Driller Chief Oil & Gas Shopping Itself for $3B). It appears Chief may have found a buyer…
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Bradford County | Energy Companies | Industrywide Issues | Lycoming County | M&A | Pennsylvania | Repsol | Rockdale | Tioga County (PA)

Sale of Rockdale PA Assets to Repsol Closes – $220M Cash, $2M Debt
January 20, 2022January 20, 2022

In September MDN broke the news that Rockdale Marcellus had filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of Pennsylvania (see NEPA Driller Rockdale Marcellus Files for Chapter 11 Bankruptcy). Earlier this month we told you that Repsol had won an auction to buy the assets for $220 million in cash, plus the assumption of $2 million in debt owed to trade creditors (see Repsol Buys Rockdale PA Assets Out of Bankruptcy for $222M). The deal was sealed yesterday. Repsol now owns Rockdale’s 66 producing wells on 42,897 net acres in three northeast PA counties producing ~110 Mmcf/d (million cubic feet per day).
Read More “Sale of Rockdale PA Assets to Repsol Closes – $220M Cash, $2M Debt”
Industrywide Issues | Regulation | Statewide VA | Taxation | Virginia

Va. Gov. Youngkin Can’t Use Exec Order to Block RGGI Carbon Tax
January 20, 2022April 20, 2022

In early December, Virginia’s newly-elected governor, Glenn Youngkin, said that as soon as he took office he would use his executive power to withdraw Virginia from the Regional Greenhouse Gas Initiative (see VA’s New Republican Gov Pledges to Cancel RGGI Carbon Tax). RGGI is nothing more than an obscene, very expensive carbon tax. Youngkin’s pledge was a nice sentiment from someone not yet in office. Since taking office, Virginia’s leftist Attorney General told Youngkin the law does not permit the governor to use an executive order to undo a legislative action. What now?
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Energy Services | Equitrans/EQT Midstream | Industrywide Issues | Pipelines | Regulation | Statewide VA | Statewide WV | Virginia | West Virginia

US Fish & Wildlife Agrees with FERC re MVP Impact on Candy Darter
January 20, 2022January 20, 2022

candy darter

We know you’re just dying to know the outcome of whether or not the cute, little candy darter is safe if the big, evil Mountain Valley Pipeline (MVP) finishes building across several 136 streams in Virginia and West Virginia. Relax. The candy darter is safe. So says the U.S. Fish and Wildlife Service (USFWS) in a memo sent to the Federal Energy Regulatory Commission (FERC) on Tuesday. The USFWS memo answers a request by FERC to weigh in on several threatened and endangered species (plants and animals). The bottom line from USFWS is that the final bits of work to be done on the 94% complete MVP will not present a problem for threatened and endangered species.
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Industrywide Issues | Research

EEIA Fall/Winter 2021 Energy Logistics and Distribution Report
January 20, 2022January 20, 2022

The Energy Equipment and Infrastructure Alliance (EEIA), a trade association representing the companies and people that provide contractor services, equipment, materials, and labor to shale oil and gas exploration and production, infrastructure, transportation and processing, has just published its Fall/Winter 2021 Energy Logistics & Distribution Report (full copy below). The report features more than 75 individual charts and graphs tracking price and volume metrics for energy including crude oil, natural gas, NGLs, drilling activities, renewables, consumption, logistics, and financial data. It is the single best source of charts and graphs to understand what’s happening in the energy markets.
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Calendar

Calendar of Events 2022 – Marcellus/Utica & Beyond
January 20, 2022January 20, 2022

Below is the list of events we are aware of that will be of interest to those with an interest in the Marcellus/Utica shale region for the first half of 2022. Some events are in the region (PA, OH, WV). Some are not (TX, OK, CO). Some are virtual/online, but most have returned to in-person. All of them are of potential interest to the MDN audience.
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Best of the Rest

Other Stories of Interest: Thu, Jan 20, 2022
January 20, 2022January 20, 2022

OTHER U.S. REGIONS: Continental names former Chesapeake boss Lawler as operating chief; NATIONAL: Exxon to become net-zero company by 2050; Oil rally continues to seven year high; Novi Labs announces the acquisition of ShaleProfile; US not considering gas export ban, official says; INTERNATIONAL: Goldman Sachs sees oil at $96 this year; High natural gas prices could lead to spike in food costs through fertilizer link; U.S. natural gas is saving Europe from its own energy policy.
Read More “Other Stories of Interest: Thu, Jan 20, 2022”