EOG Resources “Stepping Up Activity” in Ohio Utica for 2024
EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns a huge 430,000+ acres of leases in the Ohio Utica. EOG calls its position the “Ohio Utica combo play” and now considers it one of the company’s “premium plays.” EOG concentrates on oil drilling in the Utica. As part of the company’s fourth quarter and full-year 2023 update, EOG said it will “step up in activity in the Ohio Utica play” in 2024. During a conference call with analysts, EOG’s COO Jeffrey Leitzell said the company would boost activity in Utica to begin operating one rig full-time.
Read More “EOG Resources “Stepping Up Activity” in Ohio Utica for 2024″
West Virginia State Treasurer Riley Moore has sent notices to six additional financial institutions warning them of potential inclusion on the state’s Restricted Financial Institution List (can’t do business with the state) after his office made an initial determination that the institutions appear to be engaged in boycotts of fossil fuel companies as defined under state law. This is not the first time Moore has put Big Banks on the blacklist (see 
Epsilon Energy, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past year and a half, the company has expanded into other plays and now owns assets in the Anadarko (Oklahoma and Texas) and the Permian (Texas and New Mexico). Epsilon typically does not do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy (in the Marcellus), and the other company typically does the drilling. Yesterday Epsilon announced closing on another Permian Basin acquisition.
Atlas Energy Solutions Inc. entered into a definitive agreement with Hi Crush Inc. to acquire all of Hi-Crush’s Permian Basin proppant production assets and the company’s North American logistics operations in a transaction valued at $450 million. Although Atlas focuses solely on the Permian, Hi-Crush sells proppant to multiple basins, including deals with drillers in the Marcellus/Utica. The combination of both companies into one new company will create the largest frac sand producer in the U.S.
The American Petroleum Institute (API), which is no friend of independent shale drillers, together with six other O&G groups, filed an application for rehearing on the Dept. of Energy’s (DOE) indefinite pause on new and pending liquefied natural gas (LNG) permit approvals for non-FTA countries. The application for rehearing is a legal filing, the first stop on the way to a full-blown court case. The filing asks the DOE to reconsider and stop its pause on advancing requests to export LNG. If the DOE denies the rehearing request, the Bidenistas can expect to be sued in federal court to overturn the pause.
Swampy leftists in the Democrat Party view the federal Environmental Protection Agency (EPA) as their own personal playground — a birthright. If a Republican takes the White House, as Donald Trump did in 2017, and sets about to scale back some of the extremist policies implemented by previous presidents like Lord Obama, the lefties go berserk (see 
OTHER U.S. REGIONS: Despite LNG permitting risks, Cheniere expansions continue; NATIONAL: Is Chevron’s $53 billion buyout of Hess in trouble?; New poll shows “widespread” concern over Washington’s energy policy; INTERNATIONAL: Qatar’s bigger LNG expansion to squeeze US, other rivals; Enverus believes gen AI will shape O&G decision making in 2024.