CNX Unloads Non-Op Oil & Gas Assets in Appalachia for $125M
Very quietly, without issuing a press release, CNX Resources, headquartered in Canonsburg, PA (near Pittsburgh), filed a Form 8-K with the Securities and Exchange Commission to say that on June 15, the company entered into a “definitive purchase sales agreement” to sell various non-operated producing oil and gas assets primarily located in the Appalachian basin to a third party for $125 million. And that’s about the sum total of what we know.
Read More “CNX Unloads Non-Op Oil & Gas Assets in Appalachia for $125M”
The weekly rig count in the U.S., particularly in gas-focused plays, continues to be of concern. That is, it keeps decreasing and then not recovering the decrease. Last Thursday, Baker Hughes said the U.S. lost another eight rigs total (oil and gas)–the seventh week in a row the rig count has decreased. Two weeks ago, the cumulative Marcellus/Utica rig count was even at 49 rigs (see 
Early last week, we published a post about the possibility that Equitrans would revive its moribund project to build the 75-mile Mountain Valley Pipeline (MVP) Southgate project from the current MVP terminus in Pittsylvania County, VA, to Alamance County, NC (see 
An article in the Pittsburgh Post-Gazette tackles the issues of permit reform, environmental justice, and the intersection of the two. The article asks and attempts to answer the question, “How does one shape the other?” Based on quotes and comments in the story coming from the Shapiro administration, particularly from Acting Secretary of the Dept. of Environmental Protection (DEP), Rich Negrin, it’s obvious that Shapiro intends to redefine “environmental justice” so broadly that it will become meaningless. The aim seems to be to turn environmental justice into a blunt force instrument the left can use to deny any energy permit they don’t want to issue.
Those part of the environmental left were some of the biggest supporters of electing then-Attorney General Josh Shapiro as Pennsylvania’s next governor. But it seems the wacko environmental movement is not happy with their boy Josh. They have buyer’s remorse. It all started when, shortly after last November’s election, Shapiro announced a deal with Coterra Energy (formerly Cabot Oil & Gas) to settle a criminal case against the company for the decade-old matter of methane migration in Dimock, PA (see 
Just when you thought it couldn’t get any worse in New York, the “Empire State,” it does! In May, New York Gov. Kathy Hochul (Democrat) signed a budget into law that includes provisions to ban gas stoves and furnaces in new residential buildings (see 
OTHER U.S. REGIONS: Plan to convert natgas plant to burn diesel gets pushback; NATIONAL: TGS launches well data analytics; USA awards $127 million in grid modernization grant; Which USA oil major produced the most in 1Q?; Drilling stocks plunge on bets for oil price slump; Natural gas bans aren’t about your health; INTERNATIONAL: Iranian oil is quietly flooding into the global market again.