Marcellus Drilling News

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25 New Shale Well Permits Issued for PA-OH-WV Jan 9-15
January 20, 2023January 20, 2023

New shale permits issued for Jan. 9-15 in the Marcellus/Utica included 18 new permits in Pennsylvania, 5 new permits in Ohio, and 2 new permits in West Virginia. The top recipient of permits for last week was PennEnergy Resources, grabbing 6 permits to drill on a single pad in Butler County, PA. Right behind PennEnergy was Southwestern Energy with 5 permits total spread across all three states–3 in PA, and 1 each in OH and WV.
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Energy Companies | Gulfport Energy

Marcellus Veteran John Reinhart Joins Gulfport Energy as CEO
January 20, 2023January 20, 2023

John Reinhart is the former President and CEO of M-U driller Montage Resources Corporation before that company was gobbled up by Southwestern Energy in 2020 (see Stop Press! Southwestern Energy Buying Montage Resources for $857M). Prior to that, Reinhart was President and CEO of M-U driller Blue Ridge Mountain Resources before it merged with Eclipse Resources in 2019 to become Montage (see Blue Ridge Merges with Eclipse, Renamed to Montage Resources). Reinhart is now becoming President and CEO of Gulfport Energy, effective next week.
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Industrywide Issues | Pipelines | Regulation

Acting FERC Chair Willie Phillips Will Tackle New Pipe Policy
January 20, 2023January 20, 2023

Willie Phillips

Yesterday, Acting FERC Chairman Willie Phillips chaired his first meeting as head of the commission since former Chairman Richard “Dick” Glick stepped down from the top job. The meeting was interrupted several times by wacko leftists protesters (leftists always behave badly, ever notice that?). Phillips struck a conciliatory tone in his remarks, saying his strength is in consensus-building. He’s about to put that strength to the test. Phillips pledged to move forward with a new policy for pipeline approvals–touching what was the third rail for Glick, the issue that electrocuted Glick’s career at FERC. Phillips says he will work on a new pipeline policy that has stakeholder buy-in, that is sustainable, and that will allow for the approval of projects needed for the reliability of the natural gas delivery system. So far, so good.
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Hydrogen | Industrywide Issues

Partial List of Hydrogen Hubs Making First Cut for DOE Funding
January 20, 2023January 20, 2023

For more than a year, we have covered the topic of the Bidenistas’ Hunger Games contest to award $7 billion to some 6-10 “hydrogen hubs” across the country. Each winning hub will receive $500 million to $1 billion of government largesse to help build a hub in a given region. The money for the hub projects was allocated as part of the so-called Infrastructure bill, passed in November 2021 (see Biden So-Called $1.2T Infrastructure Bill Passes Thanks to RINOs). Some 79 “concept papers,” which is a pre-application, were received by the Dept. of Energy. Of the 79, only 33 were given “encouragement” by the DOE to advance to the next stage of the Hunger Games (see 33 of 79 Hydrogen Hub Teams Encouraged to Submit Full Applications). The DOE isn’t disclosing which of the lucky 33 made it, nor the list of the other 44 told to go pound sand. However, we have a list of 18 (of the 33) approved to advance to the next round and submit a full application.
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Industrywide Issues | Regulation | Statewide WV | West Virginia

Sen. Joe Manchin Defends Misnamed IRA in Davos, Switzerland
January 20, 2023January 20, 2023

Joe Manchin, the rather pathetic, has-been U.S. Senator from West Virginia, is sitting his bum in Davos, Switzerland, wining and dining and hobnobbing with leftist elites from around the world at the World Economic Forum. Manchin, you might recall, sold out the United States by voting for the Green New Deal, renamed to Build Back Better, and further renamed to the Inflation Reduction Act (see Tragedy: Joe Manchin Caves & Agrees to Big Green Build Back Better). Manchin did so after cutting a deal for the Senate to vote on a “permitting reform” bill that would, in essence, save the Mountain Valley Pipeline project from languishing in regulatory and litigation hell (see Joe Manchin Cuts MVP “Deal” in Return for Selling Out Country). It was a bad trade as the permitting “save MVP” bill has still not passed. In Davos, Manchin is trying to repair his tattered reputation, saying the Inflation Reduction Act was/is a good thing.
Read More “Sen. Joe Manchin Defends Misnamed IRA in Davos, Switzerland”
Anti-Drilling/Fossil Fuel | Industrywide Issues

UN Using Kayrros Tech to Snoop on U.S. O&G Methane Emissions
January 20, 2023January 20, 2023

click for larger version

Kayrros, a company founded in 2016, is a “global climate technology company” and a leader in “environmental intelligence.” Kayrros uses satellite imagery, artificial intelligence, and geo-analytics to help governments, investors and businesses “understand the risks posed by the changing climate and energy landscapes,” so that said entities can “make more informed decisions.” Kayrros, with offices in Paris, Houston, New York, London, Bangalore and Singapore, issued a press release to say the United Nations is contracting with Kayrros to (our word) snoop on all of the countries around the world (in particular the U.S.), to monitor methane emissions from space.
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MUI

MDN Upstream Index (MUI) – Jan 20, 2023
January 20, 2023January 20, 2023

The most recent day of active trading was Thu., Jan. 19, 2023. The numbers below reflect yesterday’s closing numbers.

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Best of the Rest

Other Stories of Interest: Fri, Jan 20, 2023
January 20, 2023January 20, 2023

OTHER U.S. REGIONS: Oklahoma treasurer makes energy discrimination a top issue; Calls grow for fossil fuel giants to pay into $75B fund to reverse climate change; NATIONAL: Upstream oil and gas will have another strong year in 2023; Increasing renewables likely to reduce coal and natural gas generation over next two years; The Biden administration finally admits its mistake in canceling the Keystone XL pipeline; How Al Gore has made $330m with climate alarmism; INTERNATIONAL: UK Labour Party calls for inverse OPEC alliance; Oil demand set to rise to record in 2023.
Read More “Other Stories of Interest: Fri, Jan 20, 2023”