PA EHB Blocks Work on Wastewater Injection Well in McKean County
In January, MDN brought you the news that the Pennsylvania Dept. of Environmental Protection (DEP) approved a plan by Catalyst Energy to convert an existing conventional gas production well on Route 646 in Cyclone (Keating Township, McKean County, PA) into a shale wastewater injection well (see PA DEP Approves Shale Wastewater Injection Well in McKean County). The well would handle up to 30 truckloads of wastewater per day. The prospect of the traffic and location near some homes did not sit well with some area residents. However, the DEP approved the plan on Jan. 11. More than 40 residents of Cyclone appealed the approval (see Sanctioned Lawyer Meets Cyclone Residents Against Injection Well). Even as the appeal played out, construction to convert the well continued. Construction stopped yesterday, thanks to a temporary order by a special state court. Read More “PA EHB Blocks Work on Wastewater Injection Well in McKean County”
Ascent Resources, founded as American Energy Partners by gas legend Aubrey McClendon, is a privately held company focusing 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. The company issued its third quarter 2024 update last week. The company produced 2,075 MMcfe/d (2.08 Bcfe/d), down 4% from 2,165 MMcfe/d (2.16 Bcfe/d) produced in 3Q23. Ascent pivoted to produce more liquids, including oil and NGLs, with an emphasis on producing more NGLs during 3Q24. According to the update, the company plans to continue its liquids focus in the fourth quarter. 
EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns nearly a half million 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. The company experimented with the Utica this year, however, the time for experimenting is coming to a close. During the company’s third quarter update last Friday, COO Jeff Leitzell said EOG will be “up to two full rigs and one full frac fleet by year-end” next year. 
We’ve written a number of times about the Ohio Utica Shale and its beginnings with gas legend Aubrey McClendon, who, as CEO of Chesapeake Energy, was one of (if not THE) first to recognize the Utica as an oil play. However, it was a successor company, Encino Energy, that figured out how to coax large quantities of oil out of the Utica shale. Encino is one of the big success stories of drilling for oil in the Ohio Utica Shale. However, using the right tech is only part of the equation that transformed a company founded in 2017 into the #1 largest oil producer in Ohio and all of the Marcellus/Utica. 
On November 8, 2024, FMR LLC, also known as Fidelity Investments, acquired 52,419 additional shares of Range Resources Corp. (RRC)—the very first and still one of the largest drillers in the Marcellus Shale. The acquisition increased FMR’s total holdings in the company to 27,478,205 shares, reflecting a significant commitment to Range. FMR is one of the largest shareholders of Range, now owning 11.35% of all outstanding stock. Should we be nervous? 
Last Friday (Nov. 8), the Susquehanna River Basin Commission (SRBC) sent a heads-up to shale drillers and other large water users in the basin to warn them to be on the lookout for a Plan B to source water. Northeastern Pennsylvania (and other states in the northeast) are experiencing drought or near-drought conditions. The streams and rivers that some drillers use to source water for drilling and fracking are getting low in some areas. The SRBC is about to clamp down and block new withdrawals until the situation improves. 
We won’t lie—we have a love/hate relationship with the American Petroleum Institute. Big Oil companies (like Exxon) control the organization (they pay big membership fees), and often, Big Oil is at odds with smaller, independent oil and gas producers like those who do most of the shale drilling. The API tends to suck up to politicians like Joe Biden and Kamala Harris. In remarks made yesterday, API President Mike Sommers said his organization supports (!) the massive worldwide shakedown of America called the Paris Accords (which targets HIS members for extinction). Go figure. However, the API isn’t all bad. The API released a policy roadmap yesterday for the incoming Trump administration. 
OTHER U.S. REGIONS: Aethon explores options for $10 billion sale or IPO; NATIONAL: Exxon CEO pushes back on Trump’s anti-climate agenda; Offshore wind faces potential trump ban on day one; INTERNATIONAL: Shell wins appeal in Dutch climate suit; Climate loss and damage fund set to launch into action next year; Apache to halt North Sea oil and gas production after 2029.