EOG Essentially Confirms DT Midstream Building Its Utica Pipeline
In 2020, EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), sold *all* of its Marcellus assets, which were located in Bradford County, PA, to Tilden Resources for $130 million (see EOG Resources Sells Marcellus Assets for $130M, Exits Basin). EOG left the M-U building, so to speak. But the company couldn’t stay away. Last November, we told you that EOG admitted to stealthily amassing 395,000 net acres in the Ohio Utica for very little money (see EOG Resources Accumulates 395K Acres in Ohio Utica for Under $500M/). EOG calls its new position the “Ohio Utica combo play,” and it concentrates on oil drilling in the Utica. What did EOG say about its Utica program in the company’s second quarter 2023 update?
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DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region and other regions. DTM issued its second quarter 2023 update yesterday. The company announced it had reached a final investment decision (FID) to build a new greenfield gathering system in the Ohio Utica Shale. The gathering system will transport associated gas from new wells being drilled in the rich window of the Utica.
DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region as well as other regions. DTM issued its fourth quarter and full 2022 update yesterday. Among major interstate pipelines that serve the M-U region, DTM is a 50% owner (along with Enbridge) in the NEXUS Pipeline, a 256-mile, 36-inch gas transmission pipeline that flows 1.5 Bcf/d of Utica gas from eastern Ohio to pipeline system interconnects in southeastern Michigan (and from there all the way to the Dawn Hub in Ontario, Canada). In 2022, DTM became the majority owner of the Millennium Pipeline, which stretches 263 miles from Corning, NY, to just outside New York City, delivering Pennsylvania Marcellus and Utica gas to utility and power plant markets across New York State and into New England.
Last week MDN told you that Detroit-based utility company DTE Energy was about to spin off its pipeline assets into a new/separate company called DT Midstream (see