Repsol Picks Up Abarta’s Non-Op Working Interest in PA Marcellus
Abarta Energy (aka Abarta Oil & Gas Co.) was a privately-owned company based in Pittsburgh with assets including wells and pipeline systems located in Pennsylvania, West Virginia, and Kentucky. In November 2021, Abarta filed for Chapter 11 bankruptcy, reporting liabilities of $25.4 million and assets of $4.2 million (see M-U Driller Abarta Energy Files for Chapter 11 Bankruptcy). Abarta said it wanted to liquidate/sell all of its remaining oil and gas assets. Some of those assets included a non-operated working interest with Repsol in the northeastern Pennsylvania Marcellus. It appears Repsol bought out Abarta’s interest in the joint venture the two companies had. The transaction happened before June 30, 2022.
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Something of an improvement from last week’s new permits report when there were only 11 new permits. For the week of October 24-30, there were 28 new permits. But not because of the return of new permits in Pennsylvania. Instead, Ohio was the shining light. PA reported 11 new permits, all of them in Lycoming County, with seven going to Repsol and four going to Inflection Energy. Ohio issued 16 new permits, with Encino Energy grabbing six, Southwestern Energy getting five, and Ascent Energy receiving four. Finally, WV had a single new permit, for Tug Hill Operating (soon to be EQT), in Wetzel County.
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. Earlier this year, Repsol said it was working with certification authority MiQ to have all of its Marcellus production certified as “responsibly produced” (see 
In June, German Chancellor Olaf Scholz spoke to Canadian Prime Minister Justin Trudeau about Germany buying LNG from Canada (see 
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. However, the company’s upstream (drilling) operations extend far beyond the Marcellus–to other plays and even to other countries. EIG, a leading institutional investor in the global energy and infrastructure sectors, yesterday announced that it has entered into a deal with Repsol to acquire a 25% stake in Repsol’s upstream operations. EIG will pay Repsol $4.8 billion for the privilege. And what will Repsol do with $4.8 billion in cash?
One of the hottest of the hot sectors in which to invest (right now) is shale energy. That’s according to multiple sources, including a veteran finance writer, investor, engineer, and researcher. In an article appearing on the OilPrice.com website, Alex Kimani talks up mid-cap energy stocks as outperforming the supermajors. Among two of Kimani’s top three picks are two Marcellus/Utica drillers, who are having a stellar year in stock performance. We went looking for the stock performance of other M-U drillers too. We have a list to share showing just how much each driller’s share price has increased this year.
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. Part of Repsol’s acreage number includes 43,000 acres recently purchased from Rockdale Marcellus (see 