Gulfport Energy Drilled 2 Marcellus, 2 SCOOP, 20 Utica Wells in ’23
Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May 2021 with a new board and top management. Yesterday, Gulfport issued its fourth quarter and full-year 2023 update. Company CEO John Reinhart, who took the reigns of the company in January 2023, reported the company drilled and turned to sales 24 gross wells, which included 2 Marcellus wells, 2 SCOOP wells, and 20 wells in the Ohio Utica. The company drilled and completed its first two operated Marcellus wells in Belmont County last year, with a promise to return to Marcellus drilling in 2025.
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Penneco Environmental Solutions wants to build a second wastewater injection well in Plum Borough (Allegheny County), PA, next to an existing injection well. Penneco’s first wastewater injection well in Plum finally opened for business in mid-2021, overcoming all sorts of smears, slanders, and lawsuits by the enviro-left (see 
The U.S. benchmark Henry Hub daily natural gas price averaged $1.50 per million British thermal units (MMBtu) on February 20, 2024, the lowest price in inflation-adjusted dollars since “at least” 1997. In fact, when you look at the ten lowest daily Henry Hub natgas spot prices since Jan. 1, 1997, six of the ten lowest prices were in February 2024. The other four were in 2020, as the pandemic was taking hold. Amid this depressing news, there is a silver lining…
Earlier this month, MDN told you about Pennsylvania’s two U.S. Senators, John Fetterman and Bob Casey, and their wishy-washy, mild criticism of Joe Biden’s decision to “pause” any new LNG export permits (see 
Gobsmacked. That’s how we felt when we discovered how much land Southwestern Energy (with major assets in the Marcellus/Utica and in the Haynesville) has under lease in the Canadian province of New Brunswick. We had seen an occasional mention by Southwestern that it owns acreage in Canada (see 
A coalition of major oil companies is asking the U.S. Supreme Court to rule on a key aspect of numerous ongoing nationwide lawsuits filed by cities, counties, and states. The lawsuits by multiple “blue” states and cities accuse Big Oil companies of deceiving the public about their role in causing mythical manmade global warming. The companies being targeted are the biggest of the big, with deep pockets. It’s nothing more than elaborate shakedown. Sunoco, ExxonMobil, Chevron, Marathon Petroleum, ConocoPhillips, Phillips 66, and others have asked the Supremes to intervene in a climate case filed against them by the City and County of Honolulu. The case serves as an important precedent for a number of other cases.
Charlie Angus, an MP (Member of Parliament) in Canada, belongs to the country’s radical left NDP, or New Democratic Party. He represents the Timmins—James Bay area in Ontario. Angus recently introduced a bill, C-372, also known as the Fossil Fuel Advertising Act. The bill is as anti-free speech as anything you’ll find in Communist Russia or North Korea. C-372 says if you, as an individual, speak well of the oil industry, doing so would carry a summary conviction and a fine of up to $500,000. If you work for an oil company and stick up for your industry, the punishment could be as strict as two years in jail or a fine of $1,000,000. It’s pure insanity.
MARCELLUS/UTICA REGION: PA DEP oil & gas regulatory program will be in the red by fall; OTHER U.S. REGIONS: Alaska green group wants private data to penalize natgas users; NATIONAL: Biden’s anti-natural gas posturing has even Dems starting to squirm; US energy sec says LNG pause will not impact relations with allies; INTERNATIONAL: World’s top oil trader sees oil demand peak after 2030; QatarEnergy names first LNG carrier “Rex Tillerson”; Activist investor wants BP to pivot back to O&G.