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3 More Drillers Dinged by PA DEP for Not Disclosing Frack Chemicals

According to Pennsylvania regulation 25 Pa. Code § 78a.122(b)(6)(iv), a drilling company must provide a list of the chemicals intentionally added to the stimulation [fracking] fluid by name and chemical abstract service (CAS) number in a Completion Report. The PA Department of Environmental Protection (DEP) says three drillers, including EQT, Range Resources, and Greylock Energy, failed to file the proper paperwork for one or more wells.

Read More “3 More Drillers Dinged by PA DEP for Not Disclosing Frack Chemicals”

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PA AG “Convicts” Greylock Energy, Extracts $140,000 for Big Green

In early 2018, the Pennsylvania Dept. of Environmental Protection (DEP) collected a whopping $1.7 million fine from Energy Corporation of America (ECA) for violations at 17 well sites in Cumberland, Jefferson, and Whiteley Townships in Greene County, and Goshen Township in Clearfield County (see Energy Corp of America Fined $1.7M for Drilling Violations in PA). ECA’s violations? “Failure to properly contain fluids in onsite pits, unauthorized discharge of industrial waste into groundwater, unauthorized disposal of residual waste, failure to restore the pits and well sites, and operating solid waste storage, treatment, and transfer facilities without permits.” More than four years later, then-PA Attorney General Josh Shapiro (running for governor with a need to keep his radical base stoked) indicted ECA and Greylock Energy (which purchased ECA’s assets in 2017) with so-called environmental crimes for the same long-resolved issue (see PA AG Shapiro Charges ECA/Greylock with Environmental Crimes). There’s been a new development.

NOTE: This post has been updated with a statement by Greylock. See below.
Read More “PA AG “Convicts” Greylock Energy, Extracts $140,000 for Big Green”

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4 New Shale Well Permits Issued for PA-OH-WV Mar 25 – 31

What’s below dismal? The new permits report for two weeks ago showed just five new permits, which we called “dismal” (see 5 New Shale Well Permits Issued for PA-OH-WV Mar 18 – 24). Last week, for March 25 – 31, there were just four new permits issued. Technically, there were only two new permits (both in Pennsylvania), but Ohio’s Dept. of Natural Resources was tardy in their update and recorded two new permits last week for permits issued the week before. We didn’t report them two weeks ago, so we will report them this week. In PA, there was one new permit each issued to Snyder Brothers (Armstrong County) and Greylock Energy (Potter County). OH issued two permits to Ascent Resources (both in Guernsey County). West Virginia issued no new permits for the second week in a row.
Read More “4 New Shale Well Permits Issued for PA-OH-WV Mar 25 – 31”

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SRBC Approves 8 Water Withdrawal Requests for Fracking in NEPA

The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals for responsible and safe shale drilling. Last Thursday, the SRBC approved 23 new water withdrawal requests within the basin, eight of them for water used in drilling and fracking shale wells in Pennsylvania. The Marcellus/Utica shale drillers receiving a green light from SRBC included Beech Resources, Chesapeake Energy, Greylock Energy, Seneca Resources, and Southwestern Energy.
Read More “SRBC Approves 8 Water Withdrawal Requests for Fracking in NEPA”

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ECA Marcellus Trust I Gives Investors 3-Cent Dividend 4Q23

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a three-cent ($0.03) dividend to unitholders for 4Q23. The company paid 4.3 cents per unit in 1Q23, nothing in 2Q23, and six-tenths of a penny ($0.006) in 3Q23 (see ECA Marcellus Trust I Gives Investors Half a Penny Dividend 3Q). The company continues to hold back some profits ($90,000 in 4Q23) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.”
Read More “ECA Marcellus Trust I Gives Investors 3-Cent Dividend 4Q23”

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25 New Shale Well Permits Issued for PA-OH-WV Nov 27 – Dec 3

New shale permits issued for Nov 27 – Dec 3 in the Marcellus/Utica were much improved over the previous few weeks. There were 25 new permits issued last week versus 14 issued two weeks ago and just one new permit three weeks ago. So the trend is our friend! Last week’s permit tally included 15 new permits in Pennsylvania, 8 new permits in Ohio, and 2 new permits in West Virginia. Three companies tied for top place with 4 permits each: Seneca Resources in PA, Ascent Resources and Encino Energy in OH.
Read More “25 New Shale Well Permits Issued for PA-OH-WV Nov 27 – Dec 3”

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DUG Appalachia: Greylock Energy Plans to “Test Utica” in 2024

Greylock Energy is headquartered in Charleston, WV, with offices in West Virginia, Pennsylvania, Utah, and Wyoming and operations scattered throughout Appalachia and the Rockies. The company’s assets comprise more than 1.19 million acres, about 6,700 wells, including the operation of 4,000 wells throughout Appalachia (shale and conventional) and 2,600 miles of pipeline. Ryan Deaderick, executive vice president and COO of Greylock Energy, spoke to Hart Energy editorial director Jordan Blum on the sidelines of the recent Hart Energy DUG Appalachia conference in Pittsburgh. Deaderick said his company has expanded and added assets in the Rockies over the past 18 months. He said the company is “always looking for diversity of investment.”
Read More “DUG Appalachia: Greylock Energy Plans to “Test Utica” in 2024″

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Greylock Energy Deploying Aurion to Track & Report GHG Emissions

Greylock Energy is headquartered in Charleston, WV, with offices in West Virginia, Pennsylvania, Utah, and Wyoming and operations scattered throughout Appalachia and the Rockies. The company’s assets comprise more than 1.19 million acres, about 6,700 wells, including the operation of 4,000 wells throughout Appalachia (shale and conventional) and 2,600 miles of pipeline. Grelock has contracted with a company called Tachyus (headquartered in Houston, TX) to use its cloud-based greenhouse gas tracking and reporting service called Aurion. The purpose is, of course, to lower Greylock’s carbon and fugitive methane footprint–and to prove that it has lowered it.
Read More “Greylock Energy Deploying Aurion to Track & Report GHG Emissions”

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39 New Shale Well Permits Issued for PA-OH-WV Jun 26-Jul 2

New shale permits issued for Jun 26 – Jul 2 in the Marcellus/Utica saw a dramatic increase, thanks to a bump in Pennsylvania’s numbers. There were 39 new permits issued last week, way up from 11 issued the previous week. Last week’s permit tally included 30 new permits in Pennsylvania, 8 new permits in Ohio, and just 1 new permit in West Virginia. Coterra Energy scored the most new permits with a whopping 12 issued in Susquehanna County, PA (for two well pads). Range Resources had the second most new permits, with 7 permits issued in Washington County, PA (for one pad).
Read More “39 New Shale Well Permits Issued for PA-OH-WV Jun 26-Jul 2”

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ECA Marcellus Trust I Gives Investors 4.3 Cents per Unit in 1Q23

ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a payout (the equivalent of a dividend) to unitholders of 4.3 cents per unit for 1Q23. That is down from 4Q22 when the Trust paid out 12.4 cents per unit, and down from 3Q22 when the Trust paid out 18 cents per unit. The company continues to hold back some profits ($90,000 in 1Q23) in order to build a cash reserve.
Read More “ECA Marcellus Trust I Gives Investors 4.3 Cents per Unit in 1Q23”

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25 New Shale Well Permits Issued for PA-OH-WV Apr 17-23

New shale permits issued for Apr. 17-23 in the Marcellus/Utica picked up five from the prior week. There were 25 new permits issued in total last week, up from 20 in the prior week. Last week’s tally included 21 new permits for Pennsylvania, 2 new permits for Ohio, and 2 new permits in West Virginia. Last week the top receiver of new permits was Range Resources with 7 permits issued in Washington County, PA. Greylock Energy was number two with 6 new permits issued in Greene County, PA.
Read More “25 New Shale Well Permits Issued for PA-OH-WV Apr 17-23”

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16 New Shale Well Permits Issued for PA-OH-WV Jul 18-24

For the week of July 18-24, the three Marcellus/Utica states issued just 16 permits to drill new shale wells, down from 43 the prior week. Pennsylvania and West Virginia both issued eight new permits each. Ohio issued a big, fat, goose egg. PA issued three permits each to Greylock Energy (Green County) and Pennsylvania General Energy (Tioga County), and one each to EQT and Seneca Resources. WV issued four permits each to Jay-Bee Oil & Gas (Tyler County) and Tug Hill Operating (Wetzel County).
Read More “16 New Shale Well Permits Issued for PA-OH-WV Jul 18-24”

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Greylock Energy, Former Pure-Play M-U, Buys Western O&G Assets

Here’s some major news that we confess we somehow missed back in March. Greylock Energy, which is headquartered in Charleston, WV, and has (until recently) been a pure-play natural gas driller in the Marcellus/Utica, now owns assets and drills for oil (and gas) in Utah and Wyoming. Kyle Mork, president and CEO of Greylock Energy, addressed Hart Energy’s DUG East conference in Pittsburgh yesterday. He talked extensively about Greylock’s decision to “go West young molecule” (our words). Why the Uinta and Green River Basin? Why now?
Read More “Greylock Energy, Former Pure-Play M-U, Buys Western O&G Assets”

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PA AG Shapiro Charges ECA/Greylock with Environmental Crimes

In early 2018, the Pennsylvania Dept. of Environmental Protection (DEP) collected a whopping $1.7 million fine from Energy Corporation of America (ECA) for violations at 17 well sites in Cumberland, Jefferson, and Whiteley Townships in Greene County, and Goshen Township in Clearfield County (see Energy Corp of America Fined $1.7M for Drilling Violations in PA). ECA’s violations? “Failure to properly contains fluids in onsite pits, unauthorized discharge of industrial waste into groundwater, unauthorized disposal of residual waste, failure to restore the pits and well sites, and operating solid waste storage, treatment, and transfer facilities without permits.” Now, more than four years later, PA Attorney General Josh Shapiro (running for governor with a need to keep his radical base stoked) has indicted ECA and Greylock Energy (which purchased ECA’s assets in 2017) with so-called environmental crimes for the same long-resolved issue. Greylock “strongly disputes” the way Shapiro is characterizing the company and its role in this matter.
Read More “PA AG Shapiro Charges ECA/Greylock with Environmental Crimes”

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ECA Marcellus Trust I Gives Investors 9.4 Cents per Unit in 1Q22

ECA Marcellus Trust I, the royalty interest holder in and another name for Greylock Energy, has just moved the goalposts. After issuing a payout (the equivalent of a dividend) to unitholders of 13.6 cents for 4Q21, the company has pulled back and will only issue a payout of 9.4 cents per unit for 1Q22. Why? The company announced it is building a bigger emergency fund than previously announced.
Read More “ECA Marcellus Trust I Gives Investors 9.4 Cents per Unit in 1Q22”

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Looking to Invest in O&G Companies? M-U Drillers Offer Big Returns

One of the hottest of the hot sectors in which to invest (right now) is shale energy. That’s according to multiple sources, including a veteran finance writer, investor, engineer, and researcher. In an article appearing on the OilPrice.com website, Alex Kimani talks up mid-cap energy stocks as outperforming the supermajors. Among two of Kimani’s top three picks are two Marcellus/Utica drillers, who are having a stellar year in stock performance. We went looking for the stock performance of other M-U drillers too. We have a list to share showing just how much each driller’s share price has increased this year.
Read More “Looking to Invest in O&G Companies? M-U Drillers Offer Big Returns”