OFS Co. with 75 Jobs Moves from Washington, PA to Chester, WV
Here’s something you don’t read about every day. An oilfield services company, Heavy Iron Oilfield Services, recently moved from its birthplace (founded in 2011) in Washington (Washington County), PA, across the border to a new location in Chester (Hancock County), WV. Washington County is a hotbed of drilling activity in Southwestern PA. But then again, Hancock County sees a lot of drilling, too. The reason for the move? Easier access to multiple job sites in the tri-state area and a pool of qualified workers to expand the business.
Read More “OFS Co. with 75 Jobs Moves from Washington, PA to Chester, WV”
Every major (and most minor) drillers in the Marcellus/Utica have, over the past couple of years, signed on to one or more of the responsible gas certification authorities. Responsible or “certified” or “differentiated” gas is gas that is produced with lower methane emissions as certified by an outside organization like Project Canary, MiQ, or Equitable Origin. Given certification reviews cost big money, you would think (hope) there are actually customers on the other end who *want* to buy the certified natgas, and may be willing to pay a premium to get it. Utility companies are some of those customers who want to buy certified gas in order to comply with various mandates to lower emissions. But certified gas comes at a price — a price that gets passed on to end-user customers. How do they feel about paying more for certified gas?
Earlier this week, MDN told you that EQT, the country’s largest natural gas producer, had implemented an immediate cutback on natural gas production of 1 billion cubic feet per day (see 
Bayou City Energy (BCE), an E&P-focused private equity firm, yesterday published a VERY INTERESTING white paper titled “Natural Gas Producers: Why Don’t You Stay?” (full copy below). The thesis of the white paper (or report) is that drillers in gas-focused plays can’t produce natural gas as cheaply as oil producers who produce gas as a side benefit (called associated gas). Therefore, gas-focused drillers need to drastically, immediately change their capital allocation strategies (spend less on new drilling, for now). The author also makes the case that gas-focused drillers should look for opportunities to merge with a “liquids-rich producer.”
On Tuesday, we reported on yet another illegal protest that happened Monday, blocking work for a time on the last bits of the Mountain Valley Pipeline (see 
In March 2022, the U.S. Securities and Exchange Commission (SEC), corrupted by the Bidenistas, said it would begin to force all publicly traded companies to disclose their so-called greenhouse gas (GHG) emissions and the imaginary climate risks their businesses face (see 
MARCELLUS/UTICA REGION: SWN hosts Leadership Wheeling Energy Day; A rescue plan for American energy and the environment; OTHER U.S. REGIONS: TC Energy announces layoffs, primarily in Calgary and Houston; Natural gas facility begins operating in Ixonia; NATIONAL: Compass changes name to Compass Energy Systems (USA) Inc.; Oil industry criticized from within over climate efforts; EIA’s latest approach to weather modeling promises forecast improvements; INTERNATIONAL: China barred from buying US oil reserves in funding bill; Analysts reveal latest oil price outlook following OPEC+ cut extension.