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21 New Shale Well Permits Issued for PA-OH-WV Jan 5 – 11
A return to normalcy last week for permits issued to drill new shale wells in the Marcellus/Utica. Two weeks ago, we reported that just one new permit was issued (see M-U Issues Just One New Permit Last Week, Dec 29 – Jan 4). As promised, we double-checked to be sure there wasn’t a lag in posting permits by the various environmental agencies. There were no new permits (except the one) for two weeks ago. As for last week, Jan. 5 – 11, Pennsylvania issued 12 new permits, Ohio issued 2, and West Virginia issued 7. Among the drillers receiving new permits last week: Antero, Ascent, CNX, EQT, HG Energy, Repsol, and Seneca Resources. Read More “21 New Shale Well Permits Issued for PA-OH-WV Jan 5 – 11”
In December, MDN brought you the news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, had cut a deal to buy WV driller and midstreamer HG Energy II for a combined (upstream & midstream) $3.9 billion (see 
Two weeks ago, MDN brought you the news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, had cut a deal to buy WV driller and midstreamer HG Energy II for a combined (upstream & midstream) $3.9 billion (see 
Volatility is the watchword for new permits in the Marcellus/Utica. Three weeks ago, the combined count between Pennsylvania, Ohio, and West Virginia was a measly 8 new permits (see 
Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is growing its WV operations. This morning, the company announced a deal to buy privately held WV driller and midstreamer HG Energy II for a combined (upstream & midstream) $3.9 billion. The deal will add a massive 385,000 net acres to Antero’s existing ~475,000 net core Marcellus acreage position, bringing with it another 850 MMcfe/d in production. The upstream part of the deal will fetch $2.8 billion, while the midstream will get $1.1 billion. HG Energy is a West Virginia corporation with its headquarters office located in Parkersburg. 
The second round of big news coming from Antero Resources today is the sale of the company’s Utica Shale assets. We told you in November that Antero, the largest Marcellus/Utica (M-U) driller in West Virginia, officially began to market its Ohio Utica assets for sale (see 
In Q3 2025, U.S. E&Ps (drillers) successfully leveraged rigorous cost-cutting and capital discipline to maintain stable earnings despite commodity price volatility. With lifting costs down 16% since mid-2022, producers offset revenue pressures through efficiency and consolidation. RBN Energy reports that performance diverged by sector in 3Q: oil-weighted producers saw earnings rise 19% on stabilized crude prices and reduced impairments, while gas-weighted peers suffered a 27% earnings slump due to lower realizations. Total production increased 4.7%, mainly driven by oil majors. Looking ahead to Q4, the outlook shifts; oil producers face headwinds as prices dip toward $60/bbl, while natural gas producers anticipate a strong finish fueled by winter demand and rising Henry Hub prices. 
Antero Resources, the largest Marcellus/Utica (M-U) driller in West Virginia, released its Q3 2025 update with two significant announcements. One is that newly appointed CEO Michael Kennedy is “excited” for the company to return to dry gas drilling after “more than a decade,” with the first new dry gas well specifically intended to service the data center market. Second, we can confirm our prior speculation to say that Antero is officially marketing its Ohio Utica assets for sale. We previously brought you that rumor in early September (see 
Here’s a court case that slipped under our radar. Antero Resources Corporation challenged the Federal Energy Regulatory Commission’s (FERC) approval of a two-tier fuel rate structure imposed by Tennessee Gas Pipeline Company (TGP) following an expansion project. Antero had contracted with TGP to secure firm transportation capacity by funding the construction of new compressor stations, which are energy-intensive and require substantial fuel to operate. The tariff approved by FERC stipulated that Antero would always be charged the highest marginal fuel rate, as if its gas were the last and most expensive to transport through the pipeline. In contrast, other shippers paid an average fuel rate, leading to Antero paying two to three times the fuel rate of other shippers on the same pipeline segment.