PDC Mountaineer

Energy Companies | Keystone Mountaineer | Mountaineer Keystone | PDC Mountaineer | Statewide WV | West Virginia

Major New Player in the Marcellus Emerges: Mountaineer Keystone
October 16, 2014November 19, 2015

Earlier this week Mountaineer Keystone, a shale driller headquartered in Pittsburgh, announced it had bought out PDC Mountaineer for half a billion dollars ($500 million). Who are these two players? Mountaineer Keystone is backed by the money of investment firm First Reserve. PDC Mountaineer is a joint venture between PDC Energy and investment firm Lime Rock Partners. The deal means Mountaineer Keystone picks up a huge 131,000 net acres in the Marcellus/Utica region, boosting the company’s position to a new 181,000 net acres. Also part of the deal is a small gathering pipeline operation. Here’s the details…
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Energy Companies | PDC Energy | PDC Mountaineer

PDC Energy 1Q13: Modest Uptick in Production, Utica Accelerating
May 2, 2013

PDC Energy, headquartered in Denver, CO, also has drilling operations in both the Marcellus and Utica Shale region. PDC released their first quarter 2013 update yesterday which shows production in the Marcellus/Utica was up a modest 5.9% year over year, and crude oil production (mostly in the Utica) is just starting to take off. PDC signed a midstream agreement in March for the Utica and expects development efforts in the liquids-rich Utica to “accelerate” this year.

The full update from PDC:
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Energy Companies | Guernsey County | Ohio | PDC Energy | PDC Mountaineer | Statewide OH | Utica Shale

PDC Energy: Production from 1st Utica Well, 2013 Forecast
December 12, 2012December 12, 2012

PDC Energy issued their 2013 forecast yesterday, along with an impressive production report on their first Utica Shale well, drilled in Guernsey County, OH. They plan to spend $53 million next year to drill and complete five horizontal Utica Shale wells in Ohio. Part of that budget will also be spent on additional acreage to lease—acreage contiguous to their existing leased acreage. (Landowners who are not yet leased, here’s an opportunity for you.)

PDC also has a joint venture in the Marcellus Shale and plans to allocate $48 million for its 50% share toward drilling and completing 14 wells and certain midstream infrastructure projects (pipelines/processing) .

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Accidents | Energy Companies | Harrison County | Hydraulic Fracturing | Industrywide Issues | PDC Mountaineer | Regulation | West Virginia

EPA Fines PDC Mountaineer for Clean Water Act Violations in WV
November 30, 2012November 30, 2012

The federal Environmental Protection Agency (EPA), under the guise of the Clean Water Act (CWA), is poking it’s unwanted nose into Marcellus Shale gas drilling—again. Yesterday the EPA announced a settlement with PDC Mountaineer for what they say are violations of the CWA at four locations (for two gas wells). The company will pay a fine of $177,500, in addition to paying big bucks to restore problems they created while drilling two wells in Harrison County, West Virginia.

What was PDC’s environmental crime? They drained a one-acre swamp (euphemistically called a “wetland”) without getting permission. Even though PDC has agreed to pay the fine and restore the swamp (if they can), as part of the deal they did not admit to any violations of the CWA.

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Energy Companies | Ohio | PDC Mountaineer | Washington County (OH)

PDC Energy Expands Utica Drilling to Washington County, OH
November 26, 2012November 26, 2012

PDC Energy plans to drill it’s first Washington County, OH Utica Shale well in April of next year. The company previously drilled two Utica wells, both in Guernsey County, OH.

The details from the Akron Beacon Journal:

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Energy Companies | Guernsey County | Ohio | PDC Mountaineer | Utica Shale | Washington County (OH)

PDC Energy will Go-it-Alone with Utica Shale Drilling
September 19, 2012September 19, 2012

PDC announced today they will “go it alone” and develop 45,000 acres of Utica Shale leases they own in southeastern Ohio without a joint venture partner. Apparently the offers they received weren’t good enough, so they’re committing $50 million to drilling efforts in the Utica in their 2013 budget.

Early results for PDC have been promising. They report drilling two wells in Guernsey County, OH. They plan to drill a third Utica well later this year in Washington County. Here’s the press release outlining early results, and their Utica plans for the next 12 months:

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Energy Companies | PDC Mountaineer

PDC Energy 2Q12 Results – Drilling in Marcellus & Utica
August 2, 2012August 2, 2012

Drilling company PDC Energy has released its second quarter operating and financial results. The company reports completing three wells in the Marcellus in West Virginia during the first half of this year, as well as two Utica Shale wells in Ohio. They are now drilling their first Guernsey County, OH Utica well.

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Energy Companies | Lease & Royalty Payments | Ohio | PDC Mountaineer | Washington County (OH)

Wolf Creek School District Leases to PDC Energy for $3K-18%
July 10, 2012December 19, 2012

At a Monday meeting, the Wolf Creek Local Board of Education in Waterford (Washington County), OH voted to lease the mineral rights under school district property for Utica Shale drilling to PDC Energy. The lease terms are $3,000 per acre signing bonus and 18% royalties. School district officials, however, do not want any active drilling on the property—only underneath the property.

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Energy Companies | PDC Mountaineer

PDC “Temporarily” Suspends All Marcellus Drilling Operations
March 1, 2012March 1, 2012

Petroleum Development Corporation (PDC) announced yesterday that they are “temporarily” suspending drilling operations in the Marcellus Shale because of “depressed” natural gas prices. They will keep their planned 2012 capital budget the same, at $284 million, and reallocate the $12 million they would have used in the Marcellus operation to other liquids-rich operations. So far this year PDC has drilled three Marcellus wells and they will finish drilling a fourth well before suspending all Marcellus operations.

From the PDC press release:

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Energy Companies | PDC Mountaineer

New Energy Company in the Marcellus Shale – PDC Mountaineer
November 2, 2009February 26, 2010

Reuters (Nov 1):
Press Release: Petroleum Development Corporation Announces an Appalachian Joint Venture with Lime Rock Partners to Develop the Marcellus Shale Play

There’s a new drilling company entering the Marcellus Shale region by the name of PDC Mountaineer, LLC. The new company is a joint venture between Petroleum Development Corporation and Lime Rock Partners. Petroleum Development is putting up leased acreage and other assets, and Lime Rock is pumping in cash.

Read the press release for full details. The purpose of this notice is to let you know there’s a “new” player in town, just in case they come knocking on your door.