Diversified Gas & Oil Buys 5 Utica Shale Wells in Monroe County, OH
Diversified Gas & Oil (DGO) owns close to 8 million acres of leases with some 60,000 (mostly) conventional oil and gas wells. Their focus has been to acquire quality production and cash flow–regardless of the well or commodity type (gas or oil)–in the Appalachian Basin. DGO currently owns over 400 Marcellus/Utica shale wells in their portfolio too. The company just added to their inventory of shale wells, closing on the purchase of five Utica Shale wells in Monroe County, OH. The purchase price for all five? $8.4 million.
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Here’s an interesting twist. Just last week we told you about ongoing opposition from anti-fossil fuelers to a currently dormant project, the Mountaineer NGL Storage hub project in Monroe County, OH (see 
Last fall Mountaineer NGL Storage, a $500 million project in Monroe County to build underground storage for ethane and other NGLs, asked Ohio to cancel a key permit for the project (see 
Two of three M-U drilling states received permits last week. Pennsylvania scored 10 permits to drill new shale wells. Ohio received 2 permits for Utica wells. West Virginia received no new permits to drill new shale wells.
Yesterday Rising Phoenix Royalties (RPR) announced it has purchased the future royalty payments from a landowner in the Utica Shale, in Monroe County, OH. This acquisition is RPR’s third Marcellus/Utica transaction this year.
Two months ago PTT Global Chemical signed a contract with the Mountaineer NGL Storage project to use Mountaineer’s planned underground storage facility in Monroe County, OH to supply ethane to PTT’s cracker plant in neighboring Belmont County when/if the cracker gets built (see 
A few weeks ago MDN told you about Peregrine Energy Partners buying royalty payment rights from landowners in Doddridge County, WV (see 
A group of far-left, so-called environmental groups, including, Earthjustice, Buckeye Environmental Network, Concerned Ohio River Residents, Freshwater Accountability Project, Ohio Valley Environmental Coalition and the Sierra Club, are suing the Ohio Department of Natural Resources (ODNR) in an attempt to overturn permits issued by ODNR to build an underground NGL storage hub in Monroe County, Ohio.
Just yesterday MDN told you about one expert’s view that there won’t be one massive NGL storage hub built in the Marcellus/Utica, but a number of smaller hubs (see 
The Washington & Jefferson College Center for Energy Policy and Management (Washington, PA) is hosting a free webinar series on “
Mountaineer NGL Storage is planning to build an NGL (primarily ethane) storage operation in Monroe County, OH, located just across the river (and border) from West Virginia. Last summer David Hooker, president of Mountaineer and president of the parent company Energy Storage Ventures (located in Denver, Colo.) announced the project had received all necessary permits to begin construction, and that construction “could” begin by the end of March this year (see 
Montage Resources provided a sneak preview yesterday for what to expect in 2020. You may recall Montage is the name of the company that resulted after the merger of Eclipse Resources with Blue Ridge Mountain Resources 11 months ago (see 
In August MDN told you that Diversified Gas & Oil was the high (and only) bidder for Ohio Utica assets owned by EdgeMarc Energy, buying those assets out of bankruptcy court (see 
The federal Bureau of Land Management (BLM) recently announced the winners of Utica Shale mineral rights for 14 parcels of land, adding up to ~655 acres, located in Wayne National Forest (WNF). The 14 properties netted the government $1.326 million and all 14 were purchased by two (possibly more) Utica Shale drillers. Average price per acre paid across the entire lot: $2,024. Who did the leasing? You have to be a subscriber to find out. 🙂
EdgeMarc Energy, headquartered in Canonsburg, PA (with 50,000 acres of Marcellus/Utica leases), filed for Chapter 11 bankruptcy in May, looking to sell all of the company’s assets (see