BKV’s NEPA Marcellus: 10% of Reserves, 0% of the Growth Plan
A press release from BKV Corporation (NYSE: BKV) last week announced that a Form S-3 registration statement covering 5.3 million shares held by its Thai parent’s power arm had taken effect. It sounds like news. It isn’t. But it sent us back through BKV’s second quarter numbers, and those tell a story northeastern Pennsylvania landowners ought to hear: the Marcellus assets that launched this company are now 10% of its reserves, and they’re getting essentially none of BKV’s growth money. Read More “BKV’s NEPA Marcellus: 10% of Reserves, 0% of the Growth Plan”
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use requests for responsible, safe shale drilling. The SRBC published a notice in the August 22nd Pennsylvania Bulletin that the SRBC approved and/or renewed 35 general water use permits in July for individual shale gas well drilling pads in Bradford, Centre, Clearfield, Clinton, Lycoming, Susquehanna, Tioga, and Wyoming counties. 
The Marcellus/Utica region received a combined 17 new drilling permits last week, Mar. 9 – 15, down 4 from the 21 permits issued two weeks ago. Pennsylvania issued 11 of the permits. Ohio issued 5. And, West Virginia issued 1 new permit last week. The drillers receiving new permits last week included: Arsenal Resources, BKV, CNX Resources, EOG Resources, Gulfport Energy, and Range Resources. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use requests for responsible and safe shale drilling. The SRBC published a notice in the September 20 Pennsylvania Bulletin that the Executive Director of the SRBC approved and/or renewed 40 general water use permits in August for individual shale gas well drilling pads in Bradford, Centre, Clearfield, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. 
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. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its highly dysfunctional and irresponsible counterpart, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC also tells shale drillers when to stop withdrawing if low water flow (i.e., drought) conditions exist. And that’s what the SRBC did earlier today. The agency, via its Hydrologic Conditions Monitor, warned shale drillers that, at 47 listed locations (all in Pennsylvania), they must stop water withdrawals until streamflow reaches a specific “trigger flow” target (different for each location). 
On March 27, the Susquehanna River Basin Commission (SRBC) online Hydrologic Conditions Monitor showed low stream flows have triggered restrictions on 18 shale gas water withdrawal points in Bradford, Potter, Susquehanna, Tioga, and Wyoming counties. Another 17 shale gas withdrawals are approaching restrictions. Of the water withdrawal points regulated by SRBC, only shale gas development water withdrawals currently have restrictions because they take water from smaller streams.