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24 New Shale Well Permits Issued for PA-OH-WV Apr 21 – 27
For the week of April 21 – 27, the number of permits issued to drill new wells in the Marcellus/Utica was down nine from the previous week. Last week, 24 new permits were issued in the M-U. In the Keystone State (PA), 17 new permits were issued. Both Coterra Energy in the northeastern part of the state and EQT Corporation in the southwestern corner received six permits each. Coterra’s permits were all issued for the same pad. EQT received five permits for a single pad in Greene County, and one permit for a pad in Washington County. Range Resources received four permits for a single pad in Beaver County, and Olympus Energy scored one permit in Westmoreland County. Read More “24 New Shale Well Permits Issued for PA-OH-WV Apr 21 – 27”
Range Resources issued its first quarter 2025 update yesterday. Range produces a significant volume of NGLs (ethane and propane), in addition to methane (natural gas). Range CEO Dennis Degner told analysts yesterday that, no matter “how the tariff dust settles,” demand is expected to be “relatively strong” for its U.S. East Coast volumes of NGLs. Degner said that 80% of Range’s propane (LPG) production is exported by ship. “And all of it is going to Europe right now,” he said. “So we really don’t have a current exposure to the Chinese market.” Smart company. 
The highly functional and responsible Susquehanna River Basin Commission (SRBC), unlike its completely dysfunctional and irresponsible cousin, the Delaware River Basin Commission (DRBC), continues to support the shale energy industry by approving water withdrawals and consumptive use for responsible and safe shale drilling. The SRBC published a notice in the April 19 Pennsylvania Bulletin that the Executive Director of the SRBC gave his approval to or renewed 58 general water use permits in March for individual shale gas well drilling pads in Blair, Bradford, Clearfield, Lycoming, Susquehanna, Tioga, and Wyoming counties in Pennsylvania. 
Yesterday, MDN told you about a newly announced data center (and gas-fired power plant) coming to Washington County, PA (see 
On Friday, MDN reported that on the previous day (Thursday), Department of Interior Secretary Doug Burgum joined the CEOs of Range Resources and EQT Corporation and the President of Halliburton’s Western Hemisphere operations at a rally in Washington, PA, to cheerlead and promote the announcement about the country’s largest natural gas-fired power plant to be built in western Pennsylvania (see 
The experts at RBN Energy track 38 exploration and production (E&P) companies to monitor financial and operational performance. In a recent blog post, RBN found the 10 gas-weighted E&Ps (all but one with significant operations in the Marcellus/Utica) experienced a rebound in earnings during Q4 2024 after a rough first three quarters of the year. Earnings for the 10 gas-weighted E&Ps averaged $3.02/boe (barrels of oil equivalent) in Q4 2024 after losses in Q2 and Q3 2024. Cash flow averaged $10.18/boe, 52% higher than the $6.71/boe generated in Q3 2024. Realized prices averaged nearly $18/boe in Q4 2024, 24% higher than the $14.52/boe recorded in Q3 2024. Things are looking up for M-U drillers. 
For the week of Mar 10 – 16, the number of permits issued in the Marcellus/Utica to drill new shale wells increased by nine from the previous week. Last week, 31 new permits were issued, with 16 going to the Keystone State (PA). EQT (and its subsidiary Rice Drilling) scored nine permits across Fayette, Greene, and Washington counties in southwestern PA. Range Resources took five permits, all of them in Washington County. And Rev Resources received two permits in Tioga County. 
DUCs are drilled but uncompleted wells. Drillers sink a hole first and then return later to “complete” the well by fracking it and connecting it to sales. An increase in DUCs means more new drilling is happening. A decrease in DUCs means fewer new wells are drilled while previously drilled wells are completed. According to a report by Enverus, some drillers have entered 2025 with substantially fewer DUCs than last year, creating potential effects on capital efficiency and production. Nearly every shale play, including the Marcellus/Utica, has seen DUCs fall. In some cases, by the hundreds.