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Marcellus Drilling News
  • Athens County | Energy Services | Industrywide Issues | Ohio | Regulation | Tallgrass Energy | Wastewater

    Owner of 3 Athens, OH Injection Wells Applies to Permanently Plug

    July 10, 2024July 10, 2024

    In April, the Ohio Oil and Gas Commission upheld a regulatory order from the Ohio Dept. of Natural Resources (ODNR) suspending operations of three wastewater injection wells located in Torch (Athens County), OH, owned by K&H Partners, a subsidiary of Tallgrass Energy (see Ohio O&G Commission Votes to Shut Down 3 Athens Injection Wells). The Athens County Independent is reporting K&H is officially throwing in the towel and has applied to plug its three Torch injection wells.
    Read More “Owner of 3 Athens, OH Injection Wells Applies to Permanently Plug”

  • Indiana County | Industrywide Issues | M&A | Pennsylvania | Supply Chain

    Marcellus Shale Testing Lab in PA Sells Itself to Minneapolis Co.

    July 10, 2024July 10, 2024

    Incorporated in 1988, Environmental Service Laboratories, Inc. (ESL) is an environmental testing laboratory based in Indiana, PA, providing various analytical testing, consulting, and field sampling services. ESL customers include Marcellus/Utica natural gas drilling companies, industrial facilities, municipalities, engineering firms, local/state/federal government, and the general public. ESL is accredited to test drinking water, wastewater, soil, solid materials, natural gas, frozen dairy products, and meat. ESL has just sold itself for an undisclosed amount to Pace Analytical Services, based in Minneapolis, MN.
    Read More “Marcellus Shale Testing Lab in PA Sells Itself to Minneapolis Co.”

  • Diversified Energy | Energy Companies | Industrywide Issues | M&A

    Diversified Buys More East Texas Assets from Crescent Pass Energy

    July 10, 2024July 10, 2024

    Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (with assets in other regions, too), owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. Last September, Diversified’s CEO Rusty Huston, in an interview with Forbes, signaled that he would be looking to buy more assets outside of the Marcellus/Utica — specifically along the Gulf Coast (see Diversified CEO Says Gulf Coast has Brighter Future than Appalachia). Since that time, he’s made good on his statement. This morning, the company announced yet another Gulf Coast deal: buying 170,000 acres with 827 active conventional wells and producing 38 MMcfe/d in East Texas for $106 million.
    Read More “Diversified Buys More East Texas Assets from Crescent Pass Energy”

  • Commodity Price | Industrywide Issues | Research

    July STEO Predicts U.S. Natgas Output Declines, Demand Rises 2024

    July 10, 2024July 10, 2024
    click for larger version

    Once a month, the U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Starting last month, the EIA axed its monthly Drilling Productivity Report that focused on shale plays and instead rolled it into the monthly STEO (see Biden EIA Dumps Detailed Monthly U.S. Shale Drilling Report). We’re still grumbling about the change. So, what did yesterday’s July 2024 STEO show? On a macro level, the EIA predicts U.S. natural gas production will decline in 2024 while demand will rise to a record high.
    Read More “July STEO Predicts U.S. Natgas Output Declines, Demand Rises 2024”

  • Industrywide Issues | Regulation

    Bipartisan Bill Would Study Carbon Emissions from China Products

    July 10, 2024July 10, 2024

    Conservative Republicans in the U.S. Senate and House are pushing a so-called bipartisan bill to “study” the carbon emissions of products produced in the U.S. versus emissions for products manufactured in other countries, like China. We think this may be a slippery slope. We first wrote about this issue in March 2023 when the Senate was working on the bill (see Senate Republicans Working on “Foreign Pollution Act” to Tax Carbon). The Senate bill was introduced last June and passed the Senate Environment and Public Works (EPW) Committee 14-5 in January.
    Read More “Bipartisan Bill Would Study Carbon Emissions from China Products”

  • BP | Energy Companies | Industrywide Issues | Research

    Statistical Review Finds Fossil Fuels Provide 81.5% of World Energy

    July 10, 2024July 10, 2024

    For donkey’s years, BP (British Petroleum) published its annual Statistical Review of World Energy — since 1952. Last year BP said it would no longer publish it and instead turn it over to a Big Green advocacy group known as The Energy Institute (EI) to publish (see BP Dumps Annual Statistical Review – Energy Institute New Publisher). To its credit, EI’s freshman outing last year didn’t hide the news that fossil energy continued to be the main source of the world’s energy in 2022 (see Statistical Review Finds Fossil Fuels Provide 82% of All Energy). EI’s sophomore outing shows the same thing. In 2023, fossil energy use worldwide went down a half percentage point from 2022, to 81.5%. Hey lefties, what happened to solar and wind taking the energy world by storm, putting fossil fuels out of business any day now?
    Read More “Statistical Review Finds Fossil Fuels Provide 81.5% of World Energy”

  • Best of the Rest

    Other Stories of Interest: Wed, Jul 10, 2024

    July 10, 2024July 10, 2024

    MARCELLUS/UTICA REGION: Washington County Transit Authority gets $15M for new CNG terminal; Honeywell strikes $1.8 billion deal for LNG business; OTHER U.S. REGIONS: Construction progresses on Sempra’s Port Arthur LNG export project; Pennybacker buys New Fortress Energy Miami LNG; NATIONAL: Oil falls as traders analyze Powell comments; Sen. James Inhofe, a courageous dissident on climate crisis, passes away; US Oil and Gas president says he supports RNC platform; INTERNATIONAL: Will OPEC+ ever rein in its non-compliant members?; Disney launching cruises in Japan; America’s NATO partners anticipate U.S. LNG supplies to Europe; Russia and Iran move closer to creating gas OPEC-style cartel.
    Read More “Other Stories of Interest: Wed, Jul 10, 2024”

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