Beaver County | Bradford County | Chesapeake Energy | Chief Oil & Gas | CNX Resources | Coterra Energy (Cabot O&G) | Energy Companies | PennEnergy Resources | Pennsylvania | Range Resources Corp | Sullivan County | Susquehanna County | Washington County | Weekly Permits | Westmoreland County | Wyoming County (PA)
Weekly Shale Drilling Permits for PA, OH, WV: Oct. 5-9
Only Pennsylvania issued permits to drill new shale wells last week in the Appalachian region. Neither Ohio nor West Virginia issued any new drilling permits from Oct. 5-9. In PA, some 20 permits were issued in both the northeast and southwest parts of the state.
Read More “Weekly Shale Drilling Permits for PA, OH, WV: Oct. 5-9”
S&P Global Market Intelligence has done some forensic analysis of permits issued to drill new shale wells in Pennsylvania during August 2020. They compared last month’s permit numbers with the numbers from a year ago and found that PA issued 77 new permits last month, down 24% from August 2019.
Companies in the Marcellus/Utica shale industry have stepped up and given money, and in some cases retooled manufacturing operations, in order to help communities, first responders and medical professionals respond to the COVID-19 coronavirus pandemic. Companies like ExxonMobil, Range Resources, Cabot Oil & Gas, EQT, Alta Resources, Chevron, Greylock Energy, Olympus Energy, Penn E&R, Southwestern Energy and others. We are gratified and proud of the industry where we hang our hat.
EnCap Investments is a venture capital investor that funds independent companies in the U.S. oil and gas industry. EnCap has its fingers in a number of pies in the Marcellus/Utica. According to a Bloomberg article, EnCap plans to use a pile of $6 billion in cash it’s sitting on to drill new oil and natural gas wells this year. EnCap currently runs 23 drilling rigs at its various portfolio companies. Two of those companies drill in the Marcellus/Utica.
Here is what we believe to be an exclusive: In June, PennEnergy Resources sold/transferred four well pads (with multiple wells) located in Butler and Lawrence counties in western PA to Geopetro LLC. We have the names of the well pads and proof of the transfer. We’ve not seen this news anywhere else.
It seems the door *does* swing both ways when it comes to Pennsylvania municipalities and the Act 13 lawsuit decision that allows municipalities to have a say in zoning in, or zoning out, shale drilling. In 2013 seven selfish PA towns won the right, from the PA Supreme Court, to impose their own zoning rules on oil and gas drilling (see 
PennEnergy Resources, a Pittsburgh based independent oil and gas company focused on the Marcellus/Utica Shale, is getting ready to drill new wells on a pad in Economy (Beaver County), PA. The plan is facing stiff opposition from local residents because it’s located near a housing development in a residential (albeit rural) area, and will use a local road for access.
We caught a helpful update on PennEnergy Resources from a report on last week’s Hart Energy DUG East Conference in Pittsburgh. PennEnergy CEO Richard Weber told the DUG audience that his company is currently producing an average half a billion cubic feet of natural gas per day, with plans to increase that by 10% this year. One thing holding the company back is the ongoing outage of Energy Transfer’s Revolution Pipeline gathering system.
The political “leaders” in Franklin Park (Allegheny County, near Pittsburgh) have decided to reject a proposal to drill a shale well under (not on) the 80-acre Linbrook Park. With a signing bonus of $283,500 plus 18% royalties, the Franklin Park Borough would have seen revenue of *at least* $1 million. Talk about stupid.
The mystery is now solved. Last week we incorrectly (based on a Pittsburgh Tribune-Review article) reported that FirstEnergy wants to drill a well under (not on) Linbrook Park, located in the Borough of Franklin Park in Allegheny County (