Apex Energy Offers $1,500/Ac + 16% Royalty in Westmoreland Co.
We’re always interested in lease signing bonuses and royalty rates. We don’t see as many references today as we did five and ten years ago. Typically, we learn about lease rates when municipal-owned land is leased, as is the case for a small parcel in North Huntingdon, PA (Westmoreland County). Apex Energy is offering North Huntingdon $1,500 per acre in a signing bonus to lease 4.5 acres of town land for a grand total of $6,760. It ain’t much, but it’s better than a sharp stick in the eye, right?
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Chesapeake Energy has gone through some major changes over the past four years. In June of 2020, Chessy declared bankruptcy (see 
There’s no way to sugarcoat bad news. The Pennsylvania Public Utility Commission (PUC) predicted in January that money raised by the shale impact fee (PA’s version of a severance tax) would plummet this year (see 
As we report in a companion post today, Pennsylvania is currently dishing out close to $180 million in impact fees raised from 2023 shale activity — PA’s version of a severance tax (see PA PUC Distributes 2023 Impact Fee – Revenue Dropped $99M YOY). As the name implies, some 60% of the money raised goes to the counties and municipalities where drilling happens, those “impacted” by shale drilling. The other 40% goes to the black hole of Harrisburg for redistribution to various state agencies and the other counties with no shale drilling. Let’s look at how some counties and towns will spend the money coming their way.
Radicalized environmental groups, including Trout Unlimited and the Mid State Trail Association, have devolved into trying to block gathering and water pipelines in Pennsylvania. Driller Pennsylvania General Energy (PGE) wants to install 3.7 miles of a gathering pipeline to connect several wells to the Transco pipeline system, along with two 8-inch water pipelines of about the same length, in Lycoming County. Nearly all of the pipeline projects are located on state-owned land.
Danskammer Energy, which operates a gas-fired peaker power plant along the Hudson River in Newburgh, NY, has been working on a project to upgrade the plant since 2018 — seven years. On Monday, Danskammer Energy withdrew its permit application with the fossil fuel-hostile state, formally ending attempts to expand after years of trying. It’s time to throw in the towel in NY State and let the idiots who keep the Dems in power sit in the dark.
For those (like the dunce who heads up the Dept. of Energy, Jennifer Granholm) who say Uncle Joe’s “pause” on authorizing new LNG export requests isn’t having an impact, how do you respond to this?… Russia has overtaken the United States as the top exporter of natural gas to Europe. Why? Because the Europeans are scared to death they will run out of natgas promised by the U.S. Biden’s pause on new export authorizations has Europe scrambling to ensure their citizens don’t freeze to death next winter.
MARCELLUS/UTICA REGION: Dominion Energy donates more than $4.2 million to non-profits; Shell explains nighttime fire alarm at Beaver County cracker plant; NATIONAL: US shale oil output to grow for years before peaking; Natural gas continues to look volatile; Texas leads 19-states challenging green energy transition mandate; API shares campaign expectations as Biden, Trump face off; One owner of Colonial Pipeline seeking sale of stake; Biden prepared to use oil reserves again to lower gas prices; 3 reasons why natural gas prices will go up, 3 reasons it won’t; Acquisition premiums return to the oil patch; How U.S. oil production is setting records despite flat growth; INTERNATIONAL: Could European oil majors relocate to the USA?