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16 New Shale Well Permits Issued for PA-OH-WV Apr 29 – May 5

Two weeks ago, during the week of April 22 – 28, there were 26 new permits issued to drill in the Marcellus/Utica. Last week, for April 29 – May 5, there were just 16 new permits issued. Encino Energy was the top receiver of permits with 7 permits between two counties: Carroll and Harrison, both in Ohio. EQT (mainly under its Rice Drilling name) received 5 permits between Fayette and Greene counties in Pennsylvania. INR picked up 2 new permits in Guernsey County, OH. Both LOLA Energy and Chesapeake Energy picked up 1 new permit for Butler and Sullivan counties in Pennsylvania.
Read More “16 New Shale Well Permits Issued for PA-OH-WV Apr 29 – May 5”

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23 New Shale Well Permits Issued for PA-OH-WV Jan 8 – 14

There were 23 new permits issued to drill in the Marcellus/Utica during the week of Jan. 8-14, versus 18 permits issued for the prior week. Pennsylvania issued 13 new permits last week. Ohio issued just 2 new permits. West Virginia issued 8 new permits — for the second week in a row. EQT scored the top slot for new permits, receiving 7 permits to drill in Lycoming and Greene counties in PA.
Read More “23 New Shale Well Permits Issued for PA-OH-WV Jan 8 – 14”

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11 New Shale Well Permits Issued for PA-OH-WV Jul 3-9

New shale permits issued for Jul 3-9 in the Marcellus/Utica saw a dramatic decrease after posting a dramatic increase the week before. There were 11 new permits issued last week, way down from the 39 issued the previous week. Last week’s permit tally included a scant 3 new permits in Pennsylvania, 3 new permits in Ohio, and 5 new permits in West Virginia. The top permittee for the week was Northeast Natural Energy, receiving 5 permits in Monongalia County, WV.
Read More “11 New Shale Well Permits Issued for PA-OH-WV Jul 3-9”

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32 New Shale Well Permits Issued for PA-OH-WV Dec 12-18

Last week (Dec. 12-18), the number of permits issued to drill new shale wells in the Marcellus/Utica bumped up nicely to 32, up from the prior week’s 20. Both Pennsylvania and Ohio issued 16 new shale permits each. West Virginia got skunked and issued none.
Read More “32 New Shale Well Permits Issued for PA-OH-WV Dec 12-18”

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47 New Shale Well Permits Issued for PA-OH-WV Jul 11-17

For the week of July 11-17, the three Marcellus/Utica states issued 47 permits to drill new shale wells, up 10 from the prior week. Pennsylvania issued the lion’s share with 35 new permits. CNX grabbed seven of those permits in Washington County, and Olympus Energy received six in Westmoreland County. Ohio issued 11 new permits, with four going to Ascent Resources in Jefferson County, and four to Hilcorp Energy in Columbiana County. West Virginia issued a paltry one new permit, which went to Southwestern Energy in Ohio County.
Read More “47 New Shale Well Permits Issued for PA-OH-WV Jul 11-17”

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37 New Shale Well Permits Issued for PA-OH-WV Jul 4-10

For the week of July 4-10, the three Marcellus/Utica states issued 37 permits to drill new shale wells. Pennsylvania led the way, as it typically does, by issuing 25 new permits. Three PA drillers tied with six permits each, all six (in each case) on the same pad: Olympus Energy in Allegheny County, Repsol in Bradford County, and Clean Energy Exploration in Tioga County. Ohio issued five new permits, with four going to Encino Energy for a single pad in Carroll County. West Virginia issued seven new permits, all of them to Antero Resources in Doddridge County but spread across three pads.
Read More “37 New Shale Well Permits Issued for PA-OH-WV Jul 4-10”

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34 New Shale Well Permits Issued for PA-OH-WV Jun 13-19

We finally started to see more permits issued again last week. After the Marcellus/Utica was in the permit doldrum for nearly a month, bumping around at 20 permits or below, last week the number increased to a total of 34 permits issued to drill new shale wells. Pennsylvania issued 13 new permits, with seven of them going to Coterra Energy in Susquehanna County on the same pad. Ohio issued 14 new permits, with 12 of them going to Ascent Resources distributed across four different counties. And West Virginia issued seven new permits, all of them to Antero Resources, all in Doddridge County.
Read More “34 New Shale Well Permits Issued for PA-OH-WV Jun 13-19”

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30 New Shale Well Permits Issued for PA-OH-WV Apr 18-24

Last week Pennsylvania issued 22 new shale well permits, up ten from the prior week. EQT led the way with five permits, all in Greene County. Both LOLA Energy and Snyder Brothers had four permits each, LOLA in Butler County and Snyder in Armstrong. For the second week in a row, Ohio had no new shale permits issued last week. Bummer. West Virginia had eight permits, up from two in the prior week. Arsenal Resources had the most with four permits in Taylor County, while Southwestern Energy had three permits–one in Ohio County and two in Brooke County.
Read More “30 New Shale Well Permits Issued for PA-OH-WV Apr 18-24”

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LOLA Energy’s Purchase of EdgeMarc Assets – The Backstory

Yesterday we brought you the news that LOLA Energy continues to transform itself with the purchase of what was EdgeMarc Energy’s shale assets in Butler County, PA (see LOLA Energy Buys Former EdgeMarc Shale Assets in Butler County, PA). LOLA picked up 22,000 net acres of Marcellus/Utica leases, 48 producing shale wells, and 18 DUCs. Ace reporter Paul Gough from the Pittsburgh Business Times spoke with LOLA CEO Jim Crockard and got the backstory behind the deal. It seems Crockard had his eye on that part of the state “for a long time.” He even considered an offer to work for EdgeMarc years ago. Good thing he didn’t take the job.
Read More “LOLA Energy’s Purchase of EdgeMarc Assets – The Backstory”

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LOLA Energy Buys Former EdgeMarc Shale Assets in Butler County, PA

LOLA Energy (LOLA stands for Locally Owned, Locally Accountable) continues to evolve. Or perhaps transform is a better word. LOLA announced yesterday it has closed on the acquisition of what was EdgeMarc Energy’s assets in Butler County, Pennsylvania. Those assets include 22,000 net acres of Marcellus/Utica leases, 48 producing shale wells, and 18 DUCs (drilled but uncompleted shale wells). It’s time to party, cue the Barry Manilow music!
Read More “LOLA Energy Buys Former EdgeMarc Shale Assets in Butler County, PA”

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LOLA Energy II Says 26 EQT Shale Wells Trespass on Their Leases

Last July MDN broke the news that LOLA Energy had filed a lawsuit in Greene County, PA against EQT for allegedly drilling shale wells under property EQT formerly leased, but property for which the leases had lapsed and were subsequently scooped up by LOLA Energy II (see LOLA Energy Sues EQT for Trespass, Drilling Wells Under LOLA Land). We also broke the news about a second LOLA lawsuit against EQT for the same thing (see LOLA Energy Files 2nd Lawsuit Against EQT for Trespass in SWPA). LOLA is now “ramping up” litigation having filed (or in the process of filing) seven lawsuits. LOLA claims EQT has infringed on 26 of its leases.
Read More “LOLA Energy II Says 26 EQT Shale Wells Trespass on Their Leases”

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LOLA Energy Files 2nd Lawsuit Against EQT for Trespass in SWPA

Last July MDN broke the news that LOLA Energy had filed a lawsuit in Greene County, PA against EQT for allegedly drilling shale wells under property EQT formerly leased, but property for which the leases had lapsed and were subsequently scooped up by LOLA Energy II (see LOLA Energy Sues EQT for Trespass, Drilling Wells Under LOLA Land). LOLA said they are the owners of those leases now and that EQT has drilled under some of their properties. In another MDN exclusive, LOLA has just filed a second lawsuit in Greene County against EQT for the same thing: trespassing on LOLA-leased property.
Read More “LOLA Energy Files 2nd Lawsuit Against EQT for Trespass in SWPA”

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LOLA Energy Sues EQT for Trespass, Drilling Wells Under LOLA Land

In another MDN exclusive, last Friday LOLA Energy filed a lawsuit in Greene County, PA against EQT for allegedly drilling shale wells under property EQT formerly leased, property for which the leases had lapsed and were subsequently scooped up by LOLA Energy (see LOLA Energy is Back! Scoops Up Rice Acreage EQT Let Expire). LOLA says they are now the owners of those leases and that EQT has drilled under some of their properties. LOLA tried to broker a deal for compensation but those talks broke down and hence a lawsuit was filed.
Read More “LOLA Energy Sues EQT for Trespass, Drilling Wells Under LOLA Land”

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LOLA Energy is Back! Scoops Up Rice Acreage EQT Let Expire

LOLA Energy was birthed near the end of 2015, by former EQT executives using private equity money from Denham Capital (see New Marcellus/Utica Drilling Company is Born – LOLA Energy). In July 2017, Rice Energy (later sold to EQT) bought the assets of LOLA Energy for $180 million, over the objections of LOLA CEO Jim Crockard (see Rice Energy Paid $180M for LOLA Energy; CEO Didn’t Want to Sell). Like a phoenix rising from the ashes, LOLA Energy and Jim Crockard are back. The company has scooped up leases that EQT inadvertently let expire, potentially blocking EQT from drilling some already-planned-and-in-the-works wells–until EQT pays LOLA.
Read More “LOLA Energy is Back! Scoops Up Rice Acreage EQT Let Expire”

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Rice Energy Paid $180M for LOLA Energy; CEO Didn’t Want to Sell

In July MDN brought you the news that Rice Energy had bought out the assets of LOLA Energy (see LOLA Energy Sells Out to Rice Energy, Deal Kept Hush-Hush). NGI’s ace reporter Jamison Cocklin was the first to break the news. Since that time, neither Rice nor the company buying Rice, EQT, have talked about it. In fact, they have refused to comment on it. Last week other news sources observed that Rice Energy’s quarterly update contains information about purchasing LOLA Energy (although even the quarterly update doesn’t use the name LOLA). The interesting thing is that the quarterly update pegs the amount. Rice Energy paid $180 million for the assets of LOLA Energy. LOLA was birthed near the end of 2015, by former EQT executives using $250 million of private equity money from Denham Capital (see New Marcellus/Utica Drilling Company is Born – LOLA Energy). Hmmm. Investors put up $250 million, but two years later the company sells for $180 million. We don’t pretend to be high finance experts, but it sure looks to us like a negative ROI on the transaction. Yet we read claims that “everybody who put in money made money.” How does that work?…

Update: see a note in the comments. It appears that although $250M was promised by investors, not all of it is paid up front. Thx to MDN reader Venture Energy for enlightening us!
Read More “Rice Energy Paid $180M for LOLA Energy; CEO Didn’t Want to Sell”

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LOLA Energy Sells Out to Rice Energy, Deal Kept Hush-Hush

NGI’s Shale Daily has done it again. Ace reporter Jamison Cocklin has unearthed news that (so far) no one else has: Rice Energy has quietly, confidentially, hush-hush purchased all of the assets of LOLA Energy. The sale raises a lot of questions. But first, who is LOLA? No, not the show girl in Barry Manilow’s 1978 hit song Copacabana. LOLA Energy was birthed near the end of 2015, by former EQT executives using $250 million of private equity money from Denham Capital (see New Marcellus/Utica Drilling Company is Born – LOLA Energy). The name LOLA comes from the phrase Locally Owned, Locally Accountable. LOLA didn’t waste any time. They leased land in Greene County, PA–a prime location highly prized by both Rice Energy and EQT–and also in West Virginia, land in Monongalia, Wetzel and Marion counties. Shale Daily reports that rumors have been swirling for weeks, but NGI now has the goods–copies of transfer records going from LOLA to Rice. For some reason, perhaps related to EQT’s impending purchase of Rice Energy, Rice and LOLA have kept the deal hush-hush. But the lid is off now! Here’s what we know about the deal, sprinkled with some MDN speculation…
Read More “LOLA Energy Sells Out to Rice Energy, Deal Kept Hush-Hush”