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More M&A Coming to M-U in 2022? List of the Hunters & the Hunted
In May 2021 S&P Global Market Intelligence ran an article on which Marcellus/Utica drillers are likely targets to be acquired, and which drillers are doing the targeting (see Which M-U Drillers are Likely Next Targets for Acquisition?). They were right, at least partially. Market Intelligence has just updated its list of M-U for “the hunters” and “the hunted.” Let’s have a look…
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This is quite clever. Last October the province of Quebec, Canada announced it will expropriate all of the rights for all oil and gas companies in the province to drill and extract oil and natural gas (see 
According to super-secret sources talking to Reuters, Chesapeake Energy is in advanced talks to purchase Chief Oil & Gas for $2.4 billion. MDN brought you the news last October that Chief, a private company owned by Texas wildcatter Trevor Rees-Jones, was shopping itself for $3 billion (see 
In September MDN broke the news that Rockdale Marcellus had filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of Pennsylvania (see 
Olympus Energy (formerly Huntley & Huntley) drills in the Greater Pittsburgh region, in Allegheny and Westmoreland counties. The company plans to drill a series of new wells (and well pad) in Washington Township in Westmoreland County. However, there’s a snag. Residents along a proposed road accessing the site don’t want the truck traffic on their narrow (18-foot-wide) road. Olympus doesn’t want to use an alternate route due to a sharp turn. Someone else proposed building a new access road, but it would cross a tributary that flows into the Beaver Run Reservoir (lots of red tape). The town is planning a couple of workshop meetings to figure out a solution.
Last week 18 permits were issued to drill new shale wells in the Marcellus/Utica, down from 24 the week before. Pennsylvania had the most new permits with 12, mostly in the northeastern part of the state in Lycoming and Susquehanna counties. Ohio had four permits evenly divided between Columbiana and Harrison counties. West Virginia had just two lonely permits, one in Lewis and one in Wetzel counties.
EQT Corporation, the largest natural gas producer in the United States, announced last Friday that all of its natural gas produced in Washington and Greene counties in Pennsylvania (the majority of its production, some 4 Bcf/d) is now officially certified as “responsibly produced” gas by two different certification organizations: Equitable Origin and MiQ. That 4 Bcf/d of certified gas represents 4.5% of all natural gas produced in the U.S.
Back in December, MDN editor Jim Willis had the delight and pleasure of attending an open house at the new location of the 
Everyone loves a “top x” list, right? We sure do. Hart Energy, publisher of must-have industry magazines including E&P (Exploration & Production), and Oil and Gas Investor, recently published a special publication called 
A Shell spokesman last week said that the mighty ethane cracker plant the company is building in Monaca (Beaver County), PA is now 80% complete and projected to be operational “sometime this year,” although a more specific date can’t be nailed down. Currently, there are some 8,000 workers who report to the construction site each day. Simply astounding! When the plant is done and operational, it will employ about 600 permanent on-site workers. Shell is now in recruiting mode to find those 600 permanent workers.
Yesterday the American Petroleum Institute (API) issued its annual “State of American Energy” report (full copy below). We will say right up front we’ve had our differences of opinion with the API and its direction, particularly over the past year, but there is no disputing the API remains the premier organization representing the oil and gas industry in the U.S. (and beyond). The API is at the top of the O&G food chain. So it’s a big deal that during the annual virtual event to unveil the latest API report the organization featured a young completions engineer who works for Coterra Energy (formerly Cabot Oil & Gas) in Susquehanna County, PA.
In late 2020, ExxonMobil released the outlines of its development plan for the next five years (see