Energy Companies

Industrywide Issues | Keystone Pure Water Tech | Pennsylvania | Statewide PA | Supply Chain | Wastewater

Exclusive: Breakthrough Tech Cleans Frack Wastewater <30 Minutes
July 28, 2014July 28, 2014

What if you were convinced an invention IS the greatest thing since sliced bread–at least as it applies to the world of shale drilling? And what if that invention could clean thousands of gallons of frack wastewater right on site and turn it into DRINKABLE water–in less than 30 minutes? And what if this process uses no chemicals, and even eliminates radioactivity, producing inert minerals (like iron) that can be sold for profit? Oh, and what if your cost, as the driller, was only $3 per barrel to work this magic? Would you believe such a tall tale? You would if you were me…
Read More “Exclusive: Breakthrough Tech Cleans Frack Wastewater <30 Minutes”
Energy Companies | EQT Corp | Greene County (PA) | Pennsylvania | Utica Shale

EQT Takes the Plunge: Drilling 1st Utica Well in SWPA
July 25, 2014July 25, 2014

Yesterday EQT released an update for second quarter 2014 (see EQT 2Q14 Update: Profit & Production Way Up). The top brass for EQT also held an analyst phone call/update to discuss that update–to elaborate and add some color and additional information. It was an informative phone call. Among the most interesting items to be discussed is that EQT has finally found its way on the Utica. They plan to begin drilling what is likely the deepest Utica well ever drilled at a depth of 13,500 feet–in Greene County–Pennsylvania’s most southwestern county…
Read More “EQT Takes the Plunge: Drilling 1st Utica Well in SWPA”
Energy Companies | Energy Services | EQT Corp | Equitrans/EQT Midstream | Industrywide Issues | Ohio | Pennsylvania | Pipelines | Statewide OH | Statewide PA | Statewide WV | West Virginia

EQT Midstream: 2 Major Pipeline Projects Advance, 1 Doesn’t
July 25, 2014July 25, 2014

In addition to yesterday’s big news that EQT has decided to “take the plunge” and drill what is thought to be the deepest Utica Shale well yet, in Greene County, PA (see MDN’s related story today), EQT also announced yesterday their plans for their midstream operations over the coming months. CEO David Porges said EQT Midstream will spend “over $350 million” on midstream projects in 2014. The company has three major pipeline/midstream projects on the books. Porges said two of those projects are advancing while one is going “on the back burner”…
Read More “EQT Midstream: 2 Major Pipeline Projects Advance, 1 Doesn’t”
Energy Companies | EQT Corp

EQT Analyst Presentation: Acreage Maps, Decline Curves & More
July 25, 2014July 25, 2014

It’s “EQT Day” on MDN. In addition to two other stories on EQT–one about the company drilling their first-ever Utica well in SWPA, the other about which pipeline projects made the cut and will get built–we bring you the latest analyst presentation slide deck (below). Full of interesting charts and graphs from the July 24, 2014 analyst presentation given by EQT’s management team. Here’s a guide to our favorite slides (just about all of them are our favorites!)…
Read More “EQT Analyst Presentation: Acreage Maps, Decline Curves & More”
Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

Cabot O&G: Afterburners Kick in on Rocket to the Moon
July 25, 2014July 25, 2014

MDN has an admitted soft spot for Cabot Oil & Gas. We know a number of Cabot personnel–all extremely talented and top-drawer professionals. Cabot has been (in our opinion) unfairly maligned for “causing Dimock” which is still a rallying cry for hacks like Josh Fox and his Gasland fictional movies. Even though we have an admitted crush on Cabot, the fact is, they are a stellar performer by everyone’s standards. Yesterday the company released second quarter results for 2014 and they report, among many interesting things, that the company produced an average 1.26 billion cubic feet of natural gas per day from their wells in Susquehanna County, PA. Folks, the entire country produces 70 Bcf/d (see U.S. Hits New Daily Production Record Thx to Marcellus/Utica). If you do the math, the amount of gas a single driller is producing from a single PA county (Cabot/Susquehanna County)–is nearly 2% of all gas produced in the U.S. every day. Simply astonishing…
Read More “Cabot O&G: Afterburners Kick in on Rocket to the Moon”
Coterra Energy (Cabot O&G) | Energy Companies | Energy Services | Industrywide Issues | Pennsylvania | Pipelines | Susquehanna County | Williams

Cabot CEO Dinges Talks Marcellus, Midstream Challenges
July 25, 2014July 25, 2014

MDN brought you the Cabot Oil & Gas second quarter update today in a related post. The company released their update yesterday. They also held a call for analysts and investors in which CEO Dan Dinges talked pretty frankly about his frustrations with Williams over problems with pipelines in Susquehanna County, PA where Cabot has drilled all of their PA Marcellus wells–to date anyway. Seems that Williams had some difficulties during the harsh winter and those difficulties stretched into 2Q14 as well…
Read More “Cabot CEO Dinges Talks Marcellus, Midstream Challenges”
Coterra Energy (Cabot O&G) | Energy Companies | Energy Services | Industrywide Issues | Pipelines | Williams

Constitution Pipeline Update from Cabot – Final EIS Due Any Day
July 25, 2014July 25, 2014

The Constitution Pipeline, as MDN has covered numerous times before, is a 30-inch, 124-mile pipeline from Susquehanna County, PA to Schoharie County, NY to carry cheap, abundant Marcellus Shale gas to markets that include New York City and New England (see Vicariously Attend FERC Scoping Hearing on Constitution Pipeline). The $683 million project will be built by Williams, although Cabot is also a partner in the project. In fact, the pipeline will carry mostly Cabot natural gas–another half billion cubic feet of Cabot gas per day will flow through it. So it was no surprise that Cabot CEO Dan Dinges took time to mention the Constitution in an analyst call yesterday. Here’s what he said about timing for the project:
Read More “Constitution Pipeline Update from Cabot – Final EIS Due Any Day”
Energy Companies | Noble Energy

Noble Energy 2Q14: 249 Mmcf/d Marcellus Production, Up 120%
July 25, 2014July 25, 2014

Noble Energy is a big on- and off-shore driller with operations that span the world. A very successful single off-shore project in the Mediterranean, just off the coast of Israel, has essentially made Israel energy independent–no longer relying on Arab countries for natural gas. Noble also has a big presence in the Marcellus Shale–especially in West Virginia. Noble issued their second quarter 2014 update yesterday. MDN has extracted two sections from the update for MDN readers. The first is the general introductory overview, the second the operations update for the Marcellus with particulars on number of wells drilled, where, etc….
Read More “Noble Energy 2Q14: 249 Mmcf/d Marcellus Production, Up 120%”
Anadarko | Anti-Drilling/Fossil Fuel | Bradford County | Energy Companies | Industrywide Issues | Lycoming County | Pennsylvania | Regulation | Southwestern Energy | Sullivan County

Save the Loyalsock Coalition Attempts a New Spin Job Against DCNR
July 25, 2014July 25, 2014

Another anti-drilling spin job by the partisan, biased “reporters” at PBS’ StateImpact Pennsyvlania. The reliably anti-drilling Marie Cusick–who (going by her previous articles) hasn’t encountered a fossil fuel she likes–is once again trying to stir the anti-drilling pot against legitimate, legal and ethical drilling in the Loyalsock State Forest in central Pennsylvania. Anadarko Petroleum owns mineral rights for 25,000 acres of the Forest. Anadarko presented a plan in March 2012 (!) to drill there, a plan that STILL has not been approved by the Dept. of Conservation and Natural Resources (see PA DCNR Blocks Drilling in Loyalsock State Forest – For Now). Finally, there have been some baby steps toward granting Anadarko access to what they legally have a right to do…
Read More “Save the Loyalsock Coalition Attempts a New Spin Job Against DCNR”
Energy Companies | Industrywide Issues | M&A | Talisman Energy

Repsol Eyes Talisman Energy for “Assets” – Takeover Target?
July 24, 2014July 24, 2014

MDN told you last October that evil corporate raider Carl Icahn had begun to sink his claws into his next shale victim. Like he had done at Chesapeake Energy, Icahn started snapping up stock in Canadian company Talisman Energy (see Carl Icahn Snaps Up 6% of His Next E&P Victim: Talisman Energy). Icahn quickly became the puppet master pulling the strings, forcing the company to begin selling assets (see Icahn Now Throwing His Weight Around at Talisman, Like Chesapeake). You knew what was coming when he scored two seats on the board of the directors just a few months later, in December 2013 (see Carl Icahn’s Claws Go Deeper into Talisman – 2 New Board Members). Indeed, what we feared is now coming true. Talisman is now actively considering a buyout/takover from Spanish oil company Repsol…
Read More “Repsol Eyes Talisman Energy for “Assets” – Takeover Target?”
Energy Companies | EQT Corp

EQT 2Q14 Update: Profit & Production Way Up
July 24, 2014July 24, 2014

EQT posted their second quarter update today, and wow, what an update! Profit for the company is up 28% and production increased by double digits–thanks to the Marcellus Shale. Gas production was up 17% and the company’s midstream division saw a whopping 33% increase in revenue. The company says they’re still on track to produce 465-480 billion cubic feet of natural gas equivalent this year…
Read More “EQT 2Q14 Update: Profit & Production Way Up”
Accidents | Energy Companies | Energy Services | Equinor/Statoil | Halliburton | Hydraulic Fracturing | Industrywide Issues | Monroe County (NY) | New York | Regulation

OH Rep Hagan Doesn’t Let A Good Frack Accident Go to Waste
July 24, 2014July 24, 2014

Anti-drilling Ohio State Rep. Robert Hagan (Democrat, Youngstown) sent out a press release yesterday that says, essentially, “Na na na na na, told ya so, told ya so.” In just about that childish tone. Hagan has seized on a report that MDN and others highlighted yesterday from the federal Environmental Protection Agency (EPA) that alleges Halliburton, following the well pad fire in Monroe County on June 28, took five days to provide a list of chemicals at the site to the EPA (see EPA Reports on Enviro Damage from Statoil Well Fire in OH). What Hagan conveniently leaves out of his childish screed is that Halliburton promptly provided that list to the Ohio Dept. of Natural Resources and local firefighters, the two agencies stipulated under Ohio law. The EPA is not stipulated to get a fast copy of the chemicals list–they’re not first responders to the accident. The EPA is there to watch, observe, assess and level hefty fines…
Read More “OH Rep Hagan Doesn’t Let A Good Frack Accident Go to Waste”
Accidents | Energy Companies | Energy Services | Equinor/Statoil | Halliburton | Industrywide Issues | Monroe County | Ohio

EPA Reports on Enviro Damage from Statoil Well Fire in OH
July 23, 2014July 23, 2014

On June 28 a fire at Statoil’s Eisenbarth eight-well pad in Monroe County, OH quickly spread and engulfed some 20 trucks on the pad site, along with other equipment, chemicals and supplies stored at the site. It was a devastating fire (see Statoil Frack Trucks Catch Fire in Monroe County, OH). Local, state and even federal agencies quickly responded to the incident and fortunately no one was injured. One of the responding agencies was the federal Environmental Protection Agency. The EPA recently released their initial response report covering the period June 28 – July 5–a chronicle of actions taken, the facts known, and the EPA’s initial view on environmental damage caused by liquids escaping from the pad. We have the full EPA report (below), along with an update on the continuing fallout from that accident…
Read More “EPA Reports on Enviro Damage from Statoil Well Fire in OH”
American Energy Partners | Energy Companies

Aubrey Goes Shopping Again, Wants Another $2 Billion for Drilling
July 23, 2014July 23, 2014

Last week the news broke that wildcatter Aubrey McClendon, former CEO of Chesapeake Energy and current CEO of American Energy Partners (AEP), has filed the paperwork to form a new “blind pool investment” company called Energy 11 LP–controlled by AEP with the sole purpose of raising another $2 billion from investors to continue leasing and drilling in U.S. shale plays. As MDN has previously noted, it appears Aubrey continues to get the band back together (see Aubrey McClendon Gets Back into the Midstream Business). This time around, Energy 11 LP includes some of Aubrey’s old mates from Chesapeake who either left or were downsized by Carl Icahn and Doug Lawler during the Chesapeake purge. Let’s take a closer look at this latest effort by Aubrey, who has raised an average of $1 million per hour since he left Chessy last year!…
Read More “Aubrey Goes Shopping Again, Wants Another $2 Billion for Drilling”
Butler County | Energy Companies | Industrywide Issues | Pennsylvania | Reserves (Proved and Unproved) | Rex Energy

Rex Energy Proved Reserves Highest Yet: 1.1 Trillion Cubic Feet
July 23, 2014July 23, 2014

Mid-year is the time oil and gas companies post an update on their proved reserves. MDN has run a few articles over the past couple of weeks highlighting some of those announcements for Marcellus/Utica drillers (see Gastar Proved Reserves Up 43% – 3/4 of it in the Marcellus and Magnum Hunter Proved Reserves Up 10.7%, Marcellus/Utica Tops). We provided an EIA article that helps define what proved (and other types of) reserves are (see Defining Our Terms: Different Types of O&G Reserves). On Monday Rex Energy got in the act and released their mid-year update on proved reserves. The company reports reserves have hit their highest level ever, exceeding 1 trillion cubic feet…
Read More “Rex Energy Proved Reserves Highest Yet: 1.1 Trillion Cubic Feet”
Energy Companies | Industrywide Issues | Litigation | Pennsylvania | Range Resources Corp | Washington County | Wastewater

Range Resources to Close Wastewater Pond in Washington County, PA
July 22, 2014July 22, 2014

So-called “investigative journalist” Amanda Gillooly maintains a “bash Range Resources all the time” blog site called Marcellus Monitor, on which she is reporting that Range Resources has filed a plan with the PA Dept. of Environmental Protection to close the Yeager wastewater impoundment in Amwell Township (Washington County), PA. Gillooly laughably says the impoundment is “the subject of myriad lawsuits and a federal probe.” Apparently two lawsuits is considered a myriad these days…
Read More “Range Resources to Close Wastewater Pond in Washington County, PA”