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Marcellus Cos. Donate Over $100,000 to Nonprofits During Christmas
Major drillers and pipeline companies operating in the Pennsylvania Marcellus have, once again, stepped up to offer donations of money, toys, and coats during the 2021 Christmas season. Companies giving generously include Coterra Energy, CNX Resources, Diversified Energy, Energy Transfer, Equitrans Midstream, EQT, JKLM Energy, People’s Gas, Range Resources, Seneca Resources, Southwestern Energy, and UGI have given, collectively well over $100,000.
Read More “Marcellus Cos. Donate Over $100,000 to Nonprofits During Christmas”
Each quarter NGI (Natural Gas Intelligence) runs the numbers and publishes a list of the 25 top natural gas marketers in the U.S. (or in the case of 3Q21, the top 24). These are not necessarily the top producers of natural gas, although in some cases they are, but the top sellers (vendors, jobbers) of natural gas. NGI’s latest quarterly report for third quarter 2021 shows overall the biggest sellers of natgas lost ground once again, which continues a four-year trend of year over year declines in the amount of gas sold.
Southwestern Energy announced in early November it had struck a deal to buy GEP Haynesville, a subsidiary of GeoSouthern (see 
There was a healthy number of new permits issued in all three actively drilling Marcellus/Utica states last week. In Pennsylvania, 14 new shale well permits were issued across the state. In Ohio, five new shale permits were issued, four of them to a single driller (Ascent Resources) in a single county (Jefferson). West Virginia came roaring back after getting skunked with no permits two weeks ago. WV issued 10 new shale permits last week with five going to a single well pad in Monongalia County.
Contrary to the false narrative spun by leftist media that “everyone,” especially large institutional investors, are divesting from and refusing to buy new investments in stocks of companies that drill for oil and natural gas, some of the largest institutional investors came off the sidelines and some (for the first time ever!) got into the game by investing in individual shale gas stocks in the Marcellus/Utica during the third quarter of 2021. Which big investors did the investing and how much did they invest/purchase in the way of stock? We have all the deets below…
Earlier this month Southwestern Energy announced it had struck a deal to buy GEP Haynesville, a subsidiary of GeoSouthern (see 
In early September the Weirton, WV Zoning Board of Appeals rejected a request by Southwestern Energy to build a well pad inside city limits (see 
Nearly two weeks ago MDN brought you the news that Southwestern Energy was in talks to buy a second (for them) Haynesville driller, GeoSouthern, for $1.7 billion (see 
While yesterday’s news that Southwestern Energy has brokered a deal to purchase a second Haynesville driller (see today’s lead story), Southwestern also issued its third quarter update yesterday. Let’s not overlook that important news! While Southwestern’s natural gas production continues to increase due to acquisitions, the big news (for us) is the drubbing the company took on hedges/derivatives. Southwestern lost $2 BILLION on bad hedges, leading to a quarterly net loss for shareholders of $1.86 billion. The company reported total production of 310 Bcfe (billion cubic feet), averaging 3.4 Bcfe per day.
The Gas and Oil Association of West Virginia (GO-WV) released a new report yesterday called “Gas Facts” (full copy below). The report chronicles the impact oil and gas has had on the Mountain State over the past five years. According to Charlie Burd, GO-WV executive director, “Natural gas is the state’s top-paying sector, supporting more than 82,000 jobs and contributing roughly $5.2 billion in wages each year. Clean, abundant natural gas will continue to drive economic growth and opportunities for generations of West Virginians.” It’s an interesting report. One thing in the report caught our eye immediately: Two “top 10” lists for gas and oil production. We’re suckers for a good top 10 list…
Small investors have a golden opportunity. Oil and gas companies (drillers in particular) are more profitable than ever, yet many large investors are avoiding and will not invest in them. Why? Because they’re idiots? Well, yes, that’s one reason. But the root cause is they have been cowed by loud-mouthed environmental extremists. Threatened by them. Oil and gas companies are still here, still providing a critical service to the world, and still need investors. That’s a great opportunity for small investors–like you.
A healthy number of permits were issued to drill new shale wells across the Marcellus/Utica region last week. Pennsylvania issued 19 new permits in both southwest and northeast PA. Ohio issued 8 new permits, all of them to a single driller (Ascent Resources) for two well pads in two different counties. West Virginia issued 9 new permits–all but 2 of them were issued to Antero Resources in Tyler County.