Diversified Energy Production Jumped 33% in 2Q, $303M in Profit
Diversified Energy, which owns significant assets in the Marcellus/Utica region (and other regions, too), issued its second quarter update yesterday. The company owns approximately 8 million acres of leases with close to 70,000 oil and gas wells, mostly conventional wells (by number of wells). However, the company now produces 41% of its production from shale wells, meaning the blend of assets has changed over time. The company’s business model is to buy already-drilled, lower-producing wells on the cheap and find ways to make them more productive. They do a great job at it. Diversified also owns midstream (pipeline) assets in addition to a well-plugging subsidiary called Next LVL. What does the 2Q update show? The company produced 1,149 MMcfe/d (73% natural gas, 13% NGLs, and 14% oil). That’s up a huge 33%! Read More “Diversified Energy Production Jumped 33% in 2Q, $303M in Profit”
Iron Oak Energy is a proppant and solutions provider with over 34 million tons of annual production capacity (i.e., a big frac sand company). Iron Oak’s assets include leading positions in the largest U.S. shale plays and strategically located terminals to distribute sand to the company’s customers. Yesterday, Iron Oak announced a deal to buy the Northern White assets of HC Minerals, Inc. The assets include a frac sand plant in Wyeville, Wisconsin, and four terminals in the Marcellus and Utica shales to distribute the sand. 
This is too funny. Antis are up in arms over a bitcoin operation on the edge of Seneca Lake in Upstate New York that refuses to shut down. Even though they demand it. Bitcoin miner Greenidge Generation uses a clean-burning (very small) natural gas power plant to power its 15,300 computer servers at a facility on Seneca Lake in Yates County. The nutters on the enviro-left began carping and complaining about this plant back in 2021 (see 
Federal Energy Regulatory Commission (FERC) Commissioner Mark Christie, who first became a FERC commissioner when appointed by President Trump during his first term, was promoted to become the FERC Chairman by Trump in January (see 
We spotted an excellent post on the Marcellus Shale Coalition (MSC) website about the recent PJM capacity auction, which we reported on a few weeks ago (see 
OTHER U.S. REGIONS: New Jersey’s electric bills tripled this summer — and could cost Dems the state; Cheniere signs LNG supply agreement with JERA; Gov. Newsom has no solutions how to run California’s economy without crude oil; NATIONAL: Fading heat, stout production pressure natural gas futures into deeper losses; The US oil shale industry is doing more with less; Crowley shipping appoints new leaders for advanced energy transport and LNG microgrid; As electric truck demand slows, CNG and RNG-powered trucks accelerate; Love’s opens 106th compressed natural gas station; O&G companies experiment with twisty new well designs to boost output; The behavioral economics battle lurking in EPA’s endangerment finding repeal; INTERNATIONAL: Oil price steadies after slide last week; UK’s AI ambitions clash with its climate goals.