Shale Conference Focused on ESG Coming to Canton, OH
By now you know we’re not the biggest fans of ESG (environmental, social, and governance) initiatives. ESG efforts by shale companies (for us) smacks of attempting to pacify leftist wackos who will never be satisfied with any environmental efforts by “filthy” oil and gas companies. We ARE, however, in favor of strong environmental standards and believe most M-U companies already achieve them! However, ESG programs and certifications are here, likely to stay, and Marcellus/Utica drillers and pipeline companies (and the companies servicing them) must play the game if they want to sell natural gas. MDN’s good friend Joe Barone from ShaleDirectories.com is hosting an ESG-focused conference on Friday, March 25, at the Football Hall of Fame in Canton, OH. The conference is called the Utica Green Upstream & Midstream Conference. If you’re serious about ESG–investigating it, considering it, maybe even wanting to push your own ESG efforts forward–this is the conference for you to attend.
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My how the mighty permit count has fallen. Three weeks ago there were
Tilden Marcellus LLC, a Canonsburg, Pa.-based oil and gas company, filed for chapter 11 protection last Friday in the Bankruptcy Court for the Western District of Pennsylvania. Tilden is a “sister company” to Rockdale Marcellus. You may recall Rockdale went through bankruptcy last year, resulting in the sale of substantially all of its assets (in Pennsylvania) to Repsol for $220 million in cash (see
Last June, Range Resources announced it had joined the Project Canary TrustWell™ Responsible Gas Program (see
Some good news to report for Olympus Energy. The supervisors for Upper Burrell Township (in Westmoreland County, PA) voted last week to approve a new compressor station that will flow natural gas from multiple wells on 3-4 nearby Olympus well pads.


PennEnergy Resources LLC, which according to the Pittsburgh Business Times is the 11th largest shale driller in Pennsylvania (with 405 active shale wells), has achieved responsibly sourced natural gas certification from Project Canary on nearly all of its wells. Project Canary has issued its top “Gold” and “Platinum” ratings on 375 of PennEnergy’s wells.
With the ever-changing landscape of mergers and acquisitions in the shale industry, including here in the Marcellus/Utica, it’s helpful to check in every now and again with a “top 10” list. This time our top 10 list is for the largest shale drillers/operators in Pennsylvania. The Pittsburgh Business Times recently updated its “Book of Lists” for active PA shale drillers, all 47 of them. We have a quick list of the top 10 below.
Last week MDN brought you the news that Chesapeake Energy is buying Marcellus driller Chief Oil & Gas (plus associated non-operated assets from Tug Hill Operating) for $2 billion in cash and approximately 9.44 million common shares (see
Yesterday CNX Resources issued its fourth quarter and full-year update for 2021. As it has done over the past few years, CNX did not issue a full update (no narrative), opting to let its official SEC filing do the talking for it. What does the quarterly update show? The company pumped 1.7 billion cubic feet per day (Bcf/d) of natural gas and equivalents during 4Q. CNX averaged 1.6 Bcf/d for the full year. The company swung from losing $873 million in 3Q to making a profit of $630 million in 4Q–a $1.5 billion swing! How many wells did CNX drill in 4Q?
Diversified Energy (formerly Diversified Gas & Oil), which owns close to 8 million acres of leases with some 67,000 (mostly) conventional oil and gas wells, made 2021 the year to expand–outside the M-U region. The company purchased major assets in the Cotton Valley/Haynesville region of Lousiana, the Barnett play in Texas, and most recently, in the Mid-Continent in Oklahoma. Diversified got its start by buying up old conventional O&G wells in Appalachia. But a funny thing happened on the way to the forum…Diversified has begun buying older shale wells too. The company is now the fifth-largest owner of shale wells in the southwestern PA Marcellus.
This is getting interesting. Last week MDN told you that Canadian driller Questerre Energy has found a way to fight back against Quebec, Canada’s insane, irrational plan to outlaw all oil and gas drilling–including drilling in the province’s Utica Shale layer–by forming an alliance with a local Indian tribe to drill on Indian land (see 