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61 New Shale Well Permits Issued for PA-OH-WV Jan 17-23
Holy smokes! What just happened? For months (and months and months) the cumulative number of weekly permits issued to drill new shale wells in the Marcellus/Utica has fluctuated from the low teens to perhaps 30 total on the upper end. Last week, from Jan. 17-23, an amazing 61 permits were issued to drill new shale wells. Double the usual. Wow! Pennsylvania issued 24 new permits, Ohio issued 9, and blow-the-doors-off-we’ve-never-seen-so-many-permits-issued-in-one-week for West Virginia, the Mountain State issued 28 new shale permits.
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Economists are still analyzing the impact of the coronavirus pandemic from 2020, let alone assessing impacts from 2021. Cleveland State University researchers have run the numbers and have discovered something interesting. Of Ohio’s 88 counties, only 18 grew their economies in 2020. Of those 18, two counties stood head and shoulders above the rest for increases in economic activity. Both counties have something in common: Utica Shale drilling.
Earlier this month MDN exclusively broke the news that earlier this year (slipping under the radar) the Ohio Department of Natural Resources (ODNR) issued permits to Powhatan Salt Company/Mountaineer NGL Storage for three planned solution mining wells in Monroe County (see 
On August 30, the Ohio Department of Natural Resources (ODNR) issued permits to Powhatan Salt Company/Mountaineer NGL Storage for three planned solution mining wells in Monroe County. The three salt caverns will store NGLs (natural gas liquids, mainly ethane) to potentially be used by ethane crackers including the Shell cracker near Pittsburgh and potentially a second ethane cracker proposed by PTT Global Chemical in Belmont County. The salt caverns can also be used to store hydrogen (H2).
Over the years we’ve covered a number of stories about companies buying future royalty payments from landowners (and rights owners) for an upfront, one lump sum payment now. Normally the deals don’t disclose how much money changed hands for those upfront payments. We have some recent transactions from a newcomer to the Marcellus/Utica, a company willing to announce how much they paid to buy those rights, which caught our attention. We have financial details for a deal in the Marcellus, and details for a deal in the Utica to share with you. We have hard numbers for how much they paid to buy those royalty rights.
Last fall Mountaineer NGL Storage, a $500 million project in Monroe County, OH to build underground storage for ethane and other NGLs, asked Ohio regulators to cancel a key permit for the project (see 