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24 New Shale Well Permits Issued for PA-OH-WV Sep 15 – 21
For the week of September 15 – 21, the number of permits issued to drill new wells in the Marcellus/Utica decreased from the previous week, but not by much. There were 24 new permits issued across the three M-U states last week, down from 26 issued two weeks ago. Pennsylvania finally improved a bit, but only because of one driller. PA issued 11 new permits last week, with 10 of the 11 going to Range Resources. Range’s permits were spread across three counties, with one permit in Allegheny, five in Beaver, and four in Washington. The other PA permit went to Beech Resources for a well in Lycoming County. Read More “24 New Shale Well Permits Issued for PA-OH-WV Sep 15 – 21”
Earlier this month, we brought you the bombshell news that Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is preparing to market its Ohio Utica assets, hoping to fetch $900 million to $1 billion (see 
Wow! Here’s a bombshell rumor. Antero Resources, the country’s fifth-largest natural gas producer and largest producer in West Virginia, is preparing to market its Ohio Utica assets, hoping to fetch $900 million to $1 billion. That’s according to an exclusive report by Hart Energy, which spoke to “multiple sources” who requested anonymity. Antero owns 82,000 acres of leases in the Utica/Point Pleasant shale of eastern Ohio, in “the most prolific part of the play,” according to the company’s website. 
EY, previously known as Ernst & Young, is a multinational professional services network (i.e., consulting firm) based in London. EY is also one of the “big four” largest accounting firms in the world. EY published a new study last week titled “US Oil and Gas Reserves, Production and ESG Benchmarking Study” (full copy below). The study found that due to mergers and acquisitions in 2024, the largest publicly traded oil and gas companies in the U.S. went from 50 down to 40, and that those 40 companies produced a staggering 41% of all O&G production in this country. It’s probably no surprise that many in the list produce natural gas (and oil) in the Marcellus/Utica. 
According to an article on the Fortune magazine website, “AI’s endless thirst for power is driving a natural gas boom in Appalachia—and industry stocks are booming along with it.” It looks like the roles are reversing. For all of oil and gas history, oil has been the belle of the ball, the more sought-after hydrocarbon. A change is happening, at least in places like the Marcellus/Utica, where natural gas is the more sought-after commodity. And because of that, the stock price for companies that focus on gas drilling is soaring. The market capitalization (stock value times the number of outstanding shares) for M-U companies has soared 25% to 75% over the past 12 months. Wow! 
Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its second quarter 2025 update yesterday. The company reports net production in 2Q25 averaged 3.43 Bcfe/d, up ever-so-slightly from 3.42 Bcfe/d in 2Q24. Natural gas production averaged 2.23 Bcf/d, a 4% increase from the same period in 2023. Liquids (NGLs & oil) production averaged 200 MBbl/d, a 6% decrease from the year-ago period. A little less liquids, a little more gas. Antero achieved a net income of $157 million and adjusted net income of $110 million. Free Cash Flow was $262 million. For the full year, Antero increased production guidance to 3.4 to 3.45 Bcfe/d, driven by strong well performance. 
In April, MDN told you that the West Virginia Supreme Court was scheduled to hear oral arguments in two important oil and gas royalty cases (see