Marcellus Drilling News

Allegheny County | Butler County | Centre County | Energy Services | Industrywide Issues | M&A | Pennsylvania | Pipelines | Stonehenge Energy | Tioga County (PA) | UGI Energy Services

Stonehenge & UGI JV Acquires 3 Appalachian Pipe Gathering Systems
January 28, 2025January 28, 2025

Pine Run Gathering LLC, a joint venture owned by Stonehenge Energy and UGI, announced yesterday that it had completed a transaction to buy Superior Midstream Appalachian, LLC, for $120 million. Superior Appalachian owns and operates three gathering systems in Pennsylvania, namely Pittsburgh Mills (Allegheny & Butler counties), Snow Shoe (Centre County), and Brookfield (Tioga County). The Pittsburgh Mills system is connected to UGI’s Big Pine gathering system. All three have a combined daily flow of approximately 190 million cubic feet per day (MMcf/d). Read More “Stonehenge & UGI JV Acquires 3 Appalachian Pipe Gathering Systems”
Apex Energy | CNX Resources | Energy Companies | Industrywide Issues | M&A | Pennsylvania | Westmoreland County

CNX Closes Deal to Buy Apex Energy for $505M, Adds SWPA Assets
January 28, 2025January 28, 2025

In December, CNX Resources announced it had struck a deal to buy the assets of Apex Energy II, LLC, a portfolio company of funds managed by Carnelian Energy Capital Management, for $505 million (see CNX Resources Buys Apex Energy for $505M, Adds Pa. M-U Assets). Apex owns wells, acreage, and pipelines in Westmoreland County, PA. The Apex assets are close to, in some cases adjacent to, CNX’s considerable assets in the region. As of yesterday, the deal is complete. Apex Energy II is no more. Read More “CNX Closes Deal to Buy Apex Energy for $505M, Adds SWPA Assets”
Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | M&A

Coterra Energy Closes Deal to Buy Permian Assets for $3.9 Billion
January 28, 2025January 28, 2025

Last November, Coterra Energy announced it would buy “certain assets of Franklin Mountain Energy and Avant Natural Resources” located in the Permian (see Siren Song: Coterra Energy Buys Permian Assets for $4 Billion). The purchase (two deals) gives Coterra another 49,000 acres in Lea County, New Mexico, with 400-550 net Permian oil-drilling locations. The deal closed yesterday. So, what does that have to do with the Marcellus? Read More “Coterra Energy Closes Deal to Buy Permian Assets for $3.9 Billion”
Ascent Resources | Crude Oil | Energy Companies | EOG Resources | Industrywide Issues | INR/Infinity Natural Resources | Ohio | Statewide OH

A Look at Ohio’s Utica Condensate/Light Crude Drillers, Part 2
January 28, 2025January 28, 2025

Condensates are in the light-colored bottles on the left (click for larger version)

Condensate production (super-light crude oil) in the Utica Shale’s volatile oil window in eastern Ohio has more than doubled over the past three years. The small number of drillers that focus on drilling for condensate in Ohio (about half a dozen) are due to increase their output of condensate in 2025 and 2026. Who are these drillers? Why do they see such promise for condensate growth in the Utica? And, how are they measuring their success? Read More “A Look at Ohio’s Utica Condensate/Light Crude Drillers, Part 2”
Antero Resources | Electrical Generation | Energy Companies | Energy Services | Energy Transfer Partners | EQT Corp | Industrywide Issues

China’s AI Announcement Tanks U.S. Stocks, Including M-U Drillers
January 28, 2025January 28, 2025

Did you happen to catch the news lighting up all the cable news stations yesterday about Chinese startup DeepSeek? The company launched a free AI assistant that it claims uses less data at a fraction of the cost of other AI models. By Monday, the DeepSeek assistant had overtaken U.S. rival ChatGPT in downloads from Apple’s app store. The news sent traders into a tailspin of selling off tech company stocks like Nvidia (which makes the chips used in AI). The news also affected natural gas drillers negatively. Why? Read More “China’s AI Announcement Tanks U.S. Stocks, Including M-U Drillers”
Industrywide Issues | Regulation

Trump’s First-Day EOs Nothing Short of Revolutionary for Oil & Gas
January 28, 2025January 28, 2025

We don’t think it’s hyperbole to say that the Trump freight train hit and ran over the left’s radical environmental agenda in a single 12-hour period on January 20th when newly-inaugurated President Donald J. Trump signed a flurry of Executive Orders (EOs). The Trump train hit and ran over the left, and they still don’t understand (can’t conceive) just how fundamentally and deeply they’ve been defeated. They can’t accept that their power has been completely emasculated. Their fantasy world of forced renewable everything is GONE. Now, renewables have to compete with fossil energy, and it’s no competition. No more shaming and blaming oil and natural gas (and shale energy). How did everything change on Jan. 20th? Let’s break it down for you, blow by blow… Read More “Trump’s First-Day EOs Nothing Short of Revolutionary for Oil & Gas”
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Other Stories of Interest: Tue, Jan 28, 2025
January 28, 2025January 28, 2025

NATIONAL: Why gas turbines remain vital to US power generation; Trump EO overturns “endangerment finding” from 2009; Wright faces challenges from Trump energy enthusiasms; INTERNATIONAL: Germany’s Scholz welcomes fossil gas expansion in the U.S.; Russia favors a gas transit restart through Ukraine for EU. Read More “Other Stories of Interest: Tue, Jan 28, 2025”