Greylock Sells Wyoming Assets; Now on the Hunt for Utica Assets
Also chatting with Hart Energy interviewers at yesterday’s DUG Appalachia Conference in Pittsburgh was Kyle Mork, the CEO of Greylock Energy. Greylock, a privately held company, is headquartered in Charleston, West Virginia, with offices in West Virginia, Pennsylvania, and Utah. Greylock operates throughout Appalachia and the Rockies. Mork revealed at yesterday’s event that Greylock recently sold some (all?) of its Wyoming assets for an undisclosed amount. Now, the company is in acquisition mode. Mork said he’s interested in “anything in Appalachia” for targeted acquisitions. We like the sound of that! Read More “Greylock Sells Wyoming Assets; Now on the Hunt for Utica Assets”
Just coming to light for us: Freeport Township, located in Greene County, PA, declared a Disaster Emergency on June 23, 2025. The emergency is related to a “frac-out” at an EQT well that happened three years ago, in July 2022 (see 
Another important lawsuit involving whether or not a driller can deduct from royalty checks for post-production expenses was just decided by the Ohio Court of Appeals for the Seventh District in Carroll County. The rights owner in this case, Gateway Royalty II, sued Encino Energy (EAP Ohio) over the issue of deducting post-production expenses from the company’s overriding royalty interests. This is slightly different from the usual post-production issue for landowners/rights owners. 
For the week of August 11 – 17, the number of permits issued to drill new wells in the Marcellus/Utica edged up from the previous week. There were 16 new permits issued across the three M-U states last week, an increase of six from the 10 issued two weeks ago. Pennsylvania issued just four new permits, all of them for a single driller on a single pad in a single county: Coterra in Susquehanna County. Ohio also issued just four new permits, all of which went to Encino Energy (EAP) for a single pad in Harrison County. 
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 published a notice in the August 23 Pennsylvania Bulletin that the Executive Director of the SRBC renewed 57 general water use permits in June and July for individual shale gas well drilling pads in Bradford, Clearfield, Lycoming, Sullivan, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. So far in 2025, the SRBC has issued or renewed 282 general water use permits for shale gas development. 
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). 
ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced on Friday that it will issue a 2-cent dividend to unitholders for the second quarter of 2025. The company continues to hold back some profits ($90,000 in 2Q25) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.” 
Infinity Natural Resources (INR), headquartered in Morgantown, WV, focuses 100% on the Marcellus/Utica. The company went public earlier this year with a $265 million ($20/share) initial public offering, giving INR a $1.18 billion market capitalization (see 
Venture Global has won an arbitration case brought against it by Shell. The case accused Venture Global of not delivering contracted LNG shipments *for years* while Venture Global sold those shipments on the open/spot market for more money than they would have made from honoring their contracts with Shell (and with other big LNG buyers, Shell wasn’t the only one to sue). Shell claimed to have spent some $1.7 billion more buying LNG than it would have if Venture Global had honored its contract. Yet in arbitration, the tribunal found that Venture Global did honor the letter of the contracts signed. Venture Global may have won based on the letter of the contract, but they certainly lost based on the spirit of the contract, by exploiting loopholes. They lost the trust of their customers. 
Diversified Energy, which owns significant assets in the Marcellus/Utica region (and other regions, too), issued its second quarter update yesterday. The company owns approximately 8 million acres of leases with close to 70,000 oil and gas wells, mostly conventional wells (by number of wells). However, the company now produces 41% of its production from shale wells, meaning the blend of assets has changed over time. The company’s business model is to buy already-drilled, lower-producing wells on the cheap and find ways to make them more productive. They do a great job at it. Diversified also owns midstream (pipeline) assets in addition to a well-plugging subsidiary called Next LVL. What does the 2Q update show? The company produced 1,149 MMcfe/d (73% natural gas, 13% NGLs, and 14% oil). That’s up a huge 33%!