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Nat’l Rig Count Drops 7 @ 547; Marc. Even @ 24, Utica Even @ 12
It’s bloody. It’s brutal. Last week, for the ninth consecutive week, the Baker Hughes U.S. rig count declined (by seven rigs) to its lowest level since October 2021, ending the week at 547 active rigs. The national rig count continues in a free fall. For the fifth week in a row, the Marcellus/Utica count remained the same, at a combined 36 active rigs. The Pennsylvania Marcellus operated 18 rigs. The Ohio Utica operated 11 rigs. And West Virginia operated seven rigs. So, at least there’s some good news with respect to the M-U. Read More “Nat’l Rig Count Drops 7 @ 547; Marc. Even @ 24, Utica Even @ 12”
For the week of June 16 – 22, the number of permits issued to drill new wells in the Marcellus/Utica rose from the previous week. There were 24 new permits issued across the three M-U states last week, up six from 18 issued two weeks ago. The Keystone State (PA) issued 16 new permits. Olympus Energy received the most new permits, six, all of them in Westmoreland County (across two pads). Seneca Resources received five permits for one pad in Tioga County. Range Resources scored three permits for a single pad in Washington County. 
Infinity Natural Resources (INR), headquartered in Morgantown, WV, focuses 100% on the Marcellus/Utica. The company went public earlier this year with a $265 million ($20/share) initial public offering, giving INR a $1.18 billion market capitalization (see 
This is an unfortunate part of mergers and acquisitions. The Houston Chronicle is reporting that a WARN notice (Worker Adjustment and Retraining Notification) filed by Encino Energy indicates that 121 Encino workers will be laid off on or around August 17. No reason is given, however, EOG Resources is in the process of buying out and merging in Encino’s Ohio Utica assets (see 
A month ago, NRG Energy announced a deal to acquire LS Power’s portfolio of natural-gas power plants in a deal valued at roughly $12 billion, including debt, that will expand NRG’s footprint in Texas and along the East Coast (see 
The Ohio Department of Natural Resources (ODNR) recently released production numbers for the first quarter of 2025. The top natural gas producer in the state, by far, was Ascent Resources, with 195,139,574 Mcf (or 195.14 Bcf) of production during the quarter, which works out to an average of 2.17 Bcf/d. Ascent’s production accounted for 40% of the state’s natural gas production. The top oil producer in the state, by far, was Encino Energy, with 5,360,199 barrels of oil during the quarter, which works out to an average of 59,557 barrels per day. Encino’s oil production was 49% (nearly half!) of Ohio’s entire oil production during 1Q25. Of course, Encino’s days as a standalone producer are numbered as EOG Resources is buying the company. 
In early April, MDN brought you the exciting news that pipeline giant Williams, via its subsidiary, Will-Power, is planning to build two Utica/Marcellus gas-fired power plants in the New Albany International Business Park in Licking County, Ohio (see 
Republicans in the Buckeye State (Ohio) are treading on thin ice with a proposed change in the upcoming state budget. When GOP members began advocating for drilling under (not on) state-owned land and state parks in 2011, one of the arguments was that the revenue it would generate would improve state parks. A change in plans is underway with the latest two-year state budget, which would shift those revenues from park improvements to general operations instead. Is this a bait-and-switch? 
Two conventional oil producers in Southeast Ohio say dozens of their wells have been flooded with industrial waste (brine) from the fracking industry. They claim that nearby injection wells that handle frack waste/brine are leaking. State regulators agree that injection wells, at least at some locations, are leaking. Not only have these leaks (if true) affected oil wells, but there’s a concern they may be contaminating area water wells.