MDN Exclusive: 7-Figure Utica Mineral Deal Covers 116 Wells
Here’s a story you won’t read anywhere else. Strata Petroleum, LLC buys oil and gas mineral rights, and it has quietly sold its mineral interests in 116 producing Ohio Utica wells to Dallas-based Rising Phoenix Royalties. The deal closed effective October 5. Strata managing partner Justin Wainwright reached out to MDN with the news. He won’t disclose the exact price, but he told us it was “well into 7 figures.” The wells are operated by two of the biggest names in the Ohio Utica, EOG Resources and Ascent Resources, and they’re spread across six of the play’s core counties. Strata says it isn’t leaving the region. It plans to keep buying minerals across Ohio, West Virginia, and Pennsylvania. Read More “MDN Exclusive: 7-Figure Utica Mineral Deal Covers 116 Wells”
The Marcellus/Utica region received 29 new drilling permits last week, September 28 – October 4, nearly double the 16 permits issued two weeks earlier. Pennsylvania issued 20 of the new permits. Ohio issued 9 new permits. And West Virginia got skunked, issuing no new permits. The drillers who received new permits last week were: Blackhill Energy, Coterra Energy (now Devon Energy), EOG Resources, Expand Energy, Gulfport Energy, Infinity Natural Resources (INR), and Snyder Brothers. 
The Ohio Oil and Gas Land Management Commission (OGLMC) is set to vote on Monday to open roughly 23,000 acres of publicly owned wildlife preserves in eastern Ohio to fracking. The panel will weigh accepting bids on about 15,000 acres split between Jockey Hollow and Egypt Valley, plus opening another 8,000 acres of Egypt Valley. Approval would bring Ohio’s leased public land to more than 30,000 acres across Salt Fork State Park and six wildlife areas, mostly in the Belmont-Harrison-Guernsey region. Ohio has already collected roughly $57 million in signing bonuses, plus 18–20% royalties. 
The Ohio Oil and Gas Land Management Commission (OGLMC) voted on Friday to open more than 8,700 acres of public land, including an additional 513 acres under Salt Fork State Park and 8,236 acres under Egypt Valley Wildlife Area, for shale fracking. This move makes Egypt Valley the largest fracking project *under* (not on) state-owned land, despite vociferous public opposition from citizens and left-wing environmentalists. The next step in the process is to put the parcels out for bid. 
In December, Antero Resources announced a deal to sell its Ohio Utica assets to a partnership of Northern Oil & Gas (NOG) and Infinity Natural Resources (INR) for $1.2 billion in cash (see