Antero Resources Picks Up Another 13K Marcellus Acres for $108M
Yesterday Antero Resources, one of the largest Marcellus/Utica drillers, issued an operations (not financial) update for second quarter 2016. The big news in the update is that they’ve picked up another 13,000 net Marcellus acres, and with it 3 million cubic feet per day of production, for $108 million. This is related to Antero’s purchase of 55,000 acres from Southwestern that we reported in June (see Antero Takes Southwestern to Cleaners in Deal for 55K Marc. Acres). As we reported at the time, Southwestern had previously paid Chesapeake Energy $12,000 per acre for that same land (see Southwestern Paid Chesapeake $12K/Acre for Land Signed @ $5/Acre). Antero picked up the acreage for $8181 per acre–about $4K/acre (one-third) less than what Southwestern paid for it. Apparently there was an option in the deal Antero signed with Southwestern that Southwestern has the right to sell an additional 13,000 acres, which they’ve now done. If you do the math, Antero paid $8,307 for the new acreage–still a steal compared to what Southwestern originally paid for it. You’ll notice in the announcement below that Antero calls Southwestern “a third party.” Not sure why they don’t name them, but we love naming names on MDN…
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Gulfport Energy, a driller in Ohio’s Utica Shale, reported their second quarter 2016 operations (not financial) update yesterday. Among the tidbits we pick up from the announcement: Production for Gulfport during 2Q16 was 664.7 million cubic feet equivalent per day (MMcfe/d), or 2/3 of a billion cubic feet per day (Bcf/d). Production during the quarter was up 40% over the same quarter last year, but was down 4% from 1Q16. Gulfport received an average of $1.44 per thousand cubic feet (Mcf) for it’s production during the quarter. Here’s the update…
This is somewhat old news, but still news for MDN as we’re just learning about it. You may recall back in March MDN reported on a truck crash that resulted in a spill of 5,000 or so gallons of frack wastewater from Utica drilling, some of which ended up in the Barnesville Reservoir #1 (see 
The Attorney General from Massachusetts, Maura Healey, the AG from New York, Eric Schneiderman and several other far-left radicals drunk on their own power have made fantastical claims that Exxon “knew” that burning their evil, filthy, nasty oil and natural gas is causing Mom Earth to warm up, so they serving subpoenas to Exxon to turn over every piece of communication the company has ever had, so they can build a case against Exxon’s free speech (see 
In November 2015 MDN brought you a list of 36 North America drillers that had, as of that time, declared bankruptcy (see 
In May MDN told you that EQT, a major Marcellus (and Utica) driller based in Pittsburgh, had cut a deal to purchase all of Norwegian Statoil’s Marcellus assets in West Virginia (see 
Emails recently obtained through Freedom of Information Act (FOIA) requests provide proof that New York Attorney General, Eric Schneiderman, along with Democrat AGs from a number of other states, pre-planned an attack on Exxon Mobil, not only colluding with each other, but with also with radical environmental groups. And they tried to keep it all secret. AG Schneiderman’s office circulated a “Common Interest Agreement” to the other AGs–a pact he wanted them to sign that they would not release any documents about their colluding schemes to smear Exxon–BEFORE they launched the attack. We honestly wonder if what they did is criminal. We sincerely hope Exxon is pushing for an FBI investigation into this bunch of sleazy AGs–which include not only Schneiderman, but also the AGs from the Virgin Islands, Rhode Island, and Massachusetts…
Another day, another attack on natural gas by the radicals of the Sierra Club. In this case, the Virginia chapter of the Sierra Club found a retired geologist they could buy, er, a, hire to write a report slamming the Mountain Valley Pipeline, a $3.5 billion, 301-mile pipeline that will run from Wetzel County, WV to the Transco Pipeline in Pittsylvania County, VA. The pipeline is due to be built by EQT, NextEra Energy and several other partners. The geologist who sold himself out to the Sierra Club says the pipeline would run through a “karst” area–an area of sinkholes and caves–and building the pipeline could potentially damage the water aquifer in that area. Below is a news report and a copy of the sham report released by the Virginia Sierra Clubbers…
The pieces of a very complicated puzzle continue to fall into place to build what will be Pennsylvania’s largest natural gas-fired electric generating power plant in Lackawanna County, PA–near Scranton. Invenergy plans to build the Lackawanna Energy Center, a 1,480 megawatt plant in Jessup, PA that will cost “well over $1 billion” according to an exclusive MDN source working on the project (not $500 million as we previously estimated). The PA Dept. of Environmental Protection (DEP) approved the plant last December (see 
Earlier this month MDN shared with you the news that Munroe Falls (Summit County), OH had filed yet another frivolous lawsuit against Beck Energy to prevent drilling–after already losing a similar case before the Ohio Supreme Court (see 
Last week MDN reported that Southwestern Energy, a major Marcellus/Utica driller, was floating up to 86 million shares of new stock looking to raise $1.1 billion (see 
Seems this is the week to report on stock offerings. Last week Eclipse Resources, like Southwestern Energy, announced a new stock offering. And like Southwestern (see today’s companion story), Eclipse completed the offering yesterday. Eclipse, a pure play driller focused on the Marcellus/Utica, had planned to sell up to 43 million shares hoping to raise $131 million (see 
Rex Energy, now a pure play driller focused on the Marcellus/Utica (see 
In April MDN told you about Chesapeake Energy’s deal with bankers to reaffirm their $4 billion line of credit (see 
In May 2013 amidst much fanfare, Chevron purchased 61 acres to build a new regional Marcellus Shale headquarters in Moon Township, PA, a suburb of Pittsburgh (see