Energy Companies

Ashland County | Coterra Energy (Cabot O&G) | Energy Companies | Ohio

Cabot Files for Permit to Drill Below the Utica in Ashland, OH
March 16, 2018March 16, 2018

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Cabot Oil & Gas continues its quest to discover “what’s next after the Marcellus.” As we told you in December, Cabot has leased acreage in Ashland County, OH, west of most active Utica drilling (see Cabot O&G Considers Drilling in Ashland County, OH). We originally thought Cabot was targeting the Utica in Ashland County, but Cabot director of external affairs, George Stark, set us straight. Cabot is targeting a layer below the Utica in Ashland County. (Although so far, Cabot will not reveal which layer.) The new news is that last week Cabot filed for a permit with the Ohio Dept. of Natural Resources to drill a test well in Ashland…
Read More “Cabot Files for Permit to Drill Below the Utica in Ashland, OH”
Anti-Drilling/Fossil Fuel | Energy Companies | Industrywide Issues | Litigation | Olympus/Huntley & Huntley | Pennsylvania | Westmoreland County

H&H About to Drill Well in Upper Burrell as Antis Plead with Judge
March 16, 2018March 16, 2018

In some places, drillers have to fight tooth and nail, every inch of the way, just to drill a simple Marcellus Shale well. Such is the case in Upper Burrell (Westmoreland County), PA. Huntley & Huntley has plans to drill four shale wells in Upper Burrell Township. Sure there’s been push-back, but we thought the corner had been turned when town supervisors voted last November to approve H&H’s plans (see H&H Drilling in Upper Burrell Gets Final Approval, Raucous Crowd). The supporters of drilling far outnumbered the antis at the meeting. However, a small group of antis remains committed to blocking H&H’s drilling plans. The latest twist is that antis are asking a judge to rule that the supervisors, who were discharging their duties in accordance with the law, erred in their decision to grant final approval for H&H’s drilling plans. Here we go again…
Read More “H&H About to Drill Well in Upper Burrell as Antis Plead with Judge”
Crime | Energy Companies | Industrywide Issues | Olympus/Huntley & Huntley | Pennsylvania | Seismic Testing | Westmoreland County

Whoops! Stolen Seismic Testing Nodes in SWPA have Tracking Devices
March 15, 2018March 15, 2018

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To the person or people who recently stole nine seismic testing nodes in Westmoreland County, PA, know this: You have until March 26 to return the devices (worth $1,500 each). After that, you will be tracked down and prosecuted for the multiple felonies you’ve committed. Yes, each stolen seismic device has a tracker embedded in it, and you WILL be found (loser!). The seismic testing devices were legally placed in various locations by Geokinetics, hired by Huntley & Huntley to map what’s below the surface in preparation for drilling shale wells. Are anti-drilling wackos responsible for stealing the devices as a way to prevent H&H from drilling shale wells? It’s certainly possible and fits the pattern of previous actions by some of the more insane among the movement. However, we’ll reserve judgment. The thefts could have been your garden variety dopers who steal to get money to buy drugs. Either way, the loser or losers who have stolen the equipment will be found out–unless they decide to do the right thing and return the equipment. The clock is ticking, loser(s)…
Read More “Whoops! Stolen Seismic Testing Nodes in SWPA have Tracking Devices”
Allegheny County | Beaver County | Energy Companies | Ethane | Industrywide Issues | Pennsylvania | Pipelines | Regulation | Shell | Washington County

PA DEP Schedules 3 Hearings for Shell Ethane Pipeline
March 12, 2018March 12, 2018

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In February, MDN told you the Pennsylvania State Dept. of Environmental Protection (DEP) had caved to pressure from anti-fossil fuelers with regard to Shell’s proposed Falcon Ethane Pipeline project (see PA DEP Caves to Pressure, Extends Comment Period for Shell Pipeline). Shell is working on an ethane “pipeline system” with two “legs” to feed the mighty cracker plant being built in Monaca, Beaver County (see Shell Working on 94-Mile Ethane Pipeline to Feed PA Cracker). The DEP advertised an official comment period for the project on Jan. 20, giving interested parties until Feb. 20 to file their comments–an entire month. However, one month isn’t enough time for anti-drillers to marshal the faithful to try and sink the project. FracTracker Alliance, an anti-fossil fuel organization, colluded with other groups to put the word out to flood the DEP with demands to keep the comment period open. The DEP caved and extended the comment period to April 17th along with three public hearings (circus freak shows), to give the FracTracker faithful time to mount publicity and legal offensives to try and stop the project. The DEP has just announced the dates and locations for the three public hearings…
Read More “PA DEP Schedules 3 Hearings for Shell Ethane Pipeline”
CNX Resources | Energy Companies | Industrywide Issues | NGLs | Pennsylvania | Pipelines | Range Resources Corp | Regulation | Statewide PA

Range, CNX Look for Alternatives to ME1 Pipe Following Shutdown
March 9, 2018March 9, 2018

MDN reported yesterday that due to underground horizontal direction drilling (HDD) in Chester County, PA (near Philadelphia) for the Mariner East 2 (ME2) Pipeline project, a third sinkhole had developed (see PA PUC Shuts Down Mariner 1 Pipeline Due to Mariner 2 Sinkhole). ME2 is being built close to the existing Mariner East 1 (ME1) pipeline. The sinkhole exposed a portion of the ME1 pipeline to the open air. Not a good situation, which is why the state Public Utility Commission has temporarily shut down the propane and ethane flowing through ME1. The shutdown is for 10-14 days. Problem is, both Range Resources and CNX Gas pump propane and ethane through ME1. With the shutdown, both companies are “scrambling” to find alternative means to get their NGLs to market…
Read More “Range, CNX Look for Alternatives to ME1 Pipe Following Shutdown”
Accidents | Belmont County | Energy Companies | Industrywide Issues | Ohio | XTO

Exploded XTO Well in Belmont County Finally Capped After 20 Days
March 8, 2018March 8, 2018

On Feb. 15, XTO Energy was drilling a Utica Shale well on the Schnegg well pad near Captina Creek (York Township, Belmont County, OH) when they “lost control” of the well and it exploded and caught fire (see XTO Energy Utica Well Explosion in Belmont County – 100 Evacuated). Fortunately no one was injured. Some of the ~100 people from the nearby 30 homes who were evacuated finally felt safe enough to return home–some 10 days later (see Neighbors of Exploded XTO Well in Belmont, OH Finally Return Home). However, not all of them returned home. Some did not want to return until the well is capped. We’re happy to report the well is finally, after 20 days, now capped. In order to cap it, workers first had to flare the well (burn off excess gas)–which happened Tuesday. XTO’s #1 priority now that the well is capped is to get those displaced back into their homes…
Read More “Exploded XTO Well in Belmont County Finally Capped After 20 Days”
CNX Resources | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp

Top 3 Most Productive Drillers in the Marcellus Shale
March 8, 2018March 8, 2018

We spotted an intriguing story that summarizes some of the information found in a newly-released report from private equity firm Baird Equity Research. Baird’s report purports to show, using data, “the most productive operators in the Marcellus shale.” What is the criteria used? They use productivity per average well along with how much money the average well is generating for the operator (i.e. driller). We wish we had a copy of the full report. Sadly, we do not. However, we do have the article summarizing it, which shares the top three operators. The top operator stands head and shoulders above the rest. Would it surprise you to learn the top operator in the Marcellus, according to Baird, is Cabot Oil & Gas? No, it didn’t surprise us. What about the other two in the top three? And what about the top Utica operator? Read on…
Read More “Top 3 Most Productive Drillers in the Marcellus Shale”
Energy Companies | Pin Oak Energy Partners

Pin Oak Energy NOT Actively Leasing in Northern Utica Shale
March 8, 2018March 8, 2018

Earlier this week MDN highlighted Pin Oak Energy Partners and their strategy of targeting the northern Utica Shale, in counties like Mahoning and Trumbull in Ohio, and Mercer in Pennsylvania (see Pin Oak Zigs to North Utica as Everyone Else Zags to South Utica). We told you we had a pretty good idea that the recent acreage Pin Oak picked up in the northern Utica came from Halcon Resources and BP (see Pin Oak Energy Buys 70K Utica Acres in OH & PA + Pipeline Assets). A new article confirms that suspicion. The article, which interviews Pin Oak’s chief business development officer, also says that although the company has recently picked up acreage via big deals, they are NOT actively leasing new acreage in the area. Rather, Pin Oak continues to look for and cutting deals where there are already drilled wells flowing gas…
Read More “Pin Oak Energy NOT Actively Leasing in Northern Utica Shale”
BP | Energy Companies | Halcon Resources | Mahoning County | Mercer County | Ohio | Pennsylvania | Pin Oak Energy Partners | Trumbull County

Pin Oak Zigs to North Utica as Everyone Else Zags to South Utica
March 6, 2018March 6, 2018

Pin Oak Energy Partners is an interesting company. As we reported in early February, the company recently closed on several deals to acquire 70,000 Utica acres in both Ohio and Pennsylvania, adding to its portfolio (see Pin Oak Energy Buys 70K Utica Acres in OH & PA + Pipeline Assets). The new acreage (and producing well assets) is located in Mahoning and Trumbull counties in Ohio, and Mercer County in Pennsylvania. The amount of the transaction was not disclosed. Neither were the names of the sellers. However, we now have a pretty good idea of who did the selling: Halcon Resources and BP. We have some new insights into the thinking and strategy of Pin Oak by zigging (concentrating on the northern Utica) when it seems everyone else is zagging–abandoning the northern tier for the better-yielding southern Utica…
Read More “Pin Oak Zigs to North Utica as Everyone Else Zags to South Utica”
Energy Companies | Southwestern Energy

Southwestern 2017: $3.5B Turnaround, Shopping Fayetteville Assets
March 5, 2018March 5, 2018

Late last week Southwestern Energy, one of the biggest drillers in the Marcellus (4th largest natgas producer in the country), issued its fourth quarter and full year 2017 update. Southwestern drills in two plays: The Marcellus (i.e. Appalachia), and the Fayetteville (in Arkansas). The big news coming from last week’s update is that Southwestern signaled it wants to sell some–or all–of its “underperforming” Fayetteville assets, and use the money to pay down debt and drill more in the northeast. Largely on the back of prolific production in the Marcellus, Southwestern had a dramatic financial turnaround last year. In 2016, Southwestern lost $2.75 billion. In 2017, the company made $815 million in profit. That’s a swing of $3.5 billion in a single year!…
Read More “Southwestern 2017: $3.5B Turnaround, Shopping Fayetteville Assets”
Eclipse Resources | Energy Companies

Eclipse Resources Drilled 2 Marcellus Condensate Wells in OH in ’17
March 2, 2018March 2, 2018

Earlier this week Eclipse Resources, an Ohio Utica-focused driller based in State College, PA, released its fourth quarter and full year 2017 update. Eclipse is one of our personal favorites, known for drilling “super laterals”–wells nearly four miles long. They’ve drilled the three longest onshore horizontal wells in the world–all in Ohio! So what did the Eclipse report reveal? A lot…
Read More “Eclipse Resources Drilled 2 Marcellus Condensate Wells in OH in ’17”
Accidents | Belmont County | Energy Companies | Industrywide Issues | Ohio | XTO

XTO Well Blowout in Belmont County, OH Still Leaking 2 Wks Later
March 2, 2018March 2, 2018

Two weeks after an XTO Energy well in Belmont County, Ohio exploded (not hurting anyone, blessedly), the neighbors have moved back–all but four homes closest to the pad. However, the well remains uncapped. Although it’s an unfortunate event that has caused a major upset for around 100 people, one Belmont County commissioner waxed philosophical by saying, “accidents happen.” What’s the latest on this accident and the cleanup effort by XTO?…
Read More “XTO Well Blowout in Belmont County, OH Still Leaking 2 Wks Later”
Energy Companies | Range Resources Corp

Range Resources Update: Dennis Degner Promoted, $333M Profit
March 1, 2018February 28, 2018

Yesterday Range Resources, the very first E&P to sink a Marcellus well (in 2004), released its 4Q17 and full 2017 results.
Read More “Range Resources Update: Dennis Degner Promoted, $333M Profit”
Bradford County | Chesapeake Energy | Chief Oil & Gas | Energy Companies | Lease & Royalty Payments | Pennsylvania | Susquehanna County

Another “Chesapeake Screwed Us” Landowner Story in NEPA
March 1, 2018February 28, 2018

An issue that is not going away is the issue of exorbitant post-production deductions from landowner royalty checks.
Read More “Another “Chesapeake Screwed Us” Landowner Story in NEPA”
Antero Resources | Energy Companies

Antero Resources – Thinking of Splitting Company in Two?
February 27, 2018February 27, 2018

Antero Resources announced they have formed a special committee to evaluate “potential measures to address the discount in trading value.”
Read More “Antero Resources – Thinking of Splitting Company in Two?”
Energy Companies | Ohio | PDC Energy | Statewide OH

PDC Energy Sells Remaining Ohio Utica Acreage for $40M
February 27, 2018February 27, 2018

Nine months after announcing they will sell their remaining Utica Shale assets, PDC Energy has finally found a buyer.
Read More “PDC Energy Sells Remaining Ohio Utica Acreage for $40M”