Weekly Shale Drilling Permits for PA, OH, WV: Nov 30-Dec 4

Last week Pennsylvania issued just 3 new shale well drilling permits–all for Cabot Oil & Gas in Susquehanna County. Ohio issued 5 new permits, with 4 of the 5 issued to Ascent Resources. And West Virginia issued 3 new shale well permits.
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PA is Nation’s Top Electricity Net Exporter Thx to Marcellus Shale

Yesterday MDN brought you a post about the dramatic increase in natural gas-fired electric plants in the Marcellus/Utica, particularly Pennsylvania (see NatGas-Fired Power Plants in M-U See Dramatic Increase 2015-2019). Today we have another post (also from the U.S. Energy Information Administration) about gas-fired electric power. Gas-fracking giant Pennsylvania was the largest net exporter of electricity in 2019, and gas-phobic California was the largest net importer of electricity in 2019…complete with ongoing, severe blackouts.
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Free Website Helps M-U Landowners Estimate O&G Values

After selling Rice Energy to EQT in 2017, the four Rice brothers, all of whom worked at Rice Energy (and left after the merger), launched a new venture (see Rice Brothers Act II – $200M Marcellus/Utica Investment Firm). Dan, Toby, Derek, and Ryan Rice plus a fifth partner, a former VP at Rice, pooled $200 million of their money (and their expertise) and launched Rice Investment Group (RIG). One of the companies they invested in provides a cool (free) online website for both drillers AND landowners, offering instant valuations for the oil and gas rights along with the location of wells drilled nearby.
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Jul-Dec 2019 Private Investment in Ohio Utica Shale: $3 Billion

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Each year Cleveland State University publishes a report for JobsOhio looking at how much money has been invested by the private sector in the Utica Shale (and related) industry. The CSU’s eighth report (full copy below) was recently released and shows some eye-popping numbers. Total shale investment from July through December 2019 in Ohio was approximately $3.06 billion, including upstream, midstream, and downstream. Cumulative shale oil and gas investment in Ohio through the end of 2019 is estimated to be $86.4 billion! It’s hard to wrap your head around that kind of money and its impact on the Ohio economy.
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Ascent Resources Selling Some Ohio Assets in “Core” of Utica Play

Ascent Resources has listed for sale two “packages” of its assets in the core of the Utica Shale in Ohio. One package contains a non-operated interest in 68 wells and 1,362 net leasehold acres. The second package includes a royalty interest in 10 wells and 106 net revenue interest acres. Details on where the assets are located (which counties) and other details are in the listing below.
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Weekly Shale Drilling Permits for PA, OH, WV: Nov. 23-27

Last week Pennsylvania issued 12 new shale well drilling permits with a mix of permits issued in both the southwest (wet gas) and northeast (dry gas) regions of the state. Ohio issued 7 new permits, all of them except one in the same county (Jefferson). West Virginia was a goose egg–no new permits issued last week.
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FirstEnergy Credit Rating Lowered to ‘Junk’ re Nuke Scandal

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FirstEnergy continues to get battered over its alleged role in a $60 million bribery scandal in Ohio. The latest blow comes from the country’s three main ratings agencies, Fitch, Moody’s and S&P, which have all downgraded FirstEnergy’s credit rating to ‘junk’ status.
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Weekly Shale Drilling Permits for PA, OH, WV: Nov. 16-20

Last week Pennsylvania issued 11 new shale well drilling permits, all but one of them in the northeastern (dry gas) part of the state. Ohio issued one new permit, and West Virginia issued 2 new shale well permits.
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FirstEnergy Nuke Bribery Scandal Deepens – OH Regulator Resigns

The plot thickens in the $60 million FirstEnergy nuclear subsidy bribery scandal. Last week MDN brought you the news that Ohio’s Attorney General, David Yost, had filed a second lawsuit to stop the collection of money from ratepayers that funds $150 million annual payments to FirstEnergy provided for under the law known as House Bill 6 (see OH AG Files 2nd Lawsuit to Block FirstEnergy $150M Nuke Payments). We also told you, in the same post, about a potential sixth person being investigated for involvement in the scandal. We have breaking news about the sixth person…
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OH AG Files 2nd Lawsuit to Block FirstEnergy $150M Nuke Payments

We have a couple of important updates in the neverending saga of the biggest corruption scandal ever to hit Ohio. In July, then-Ohio House Speaker Larry Householder and four of his associates were indicted for felonies related to an alleged $60 million bribery scandal in passing the hugely unpopular House Bill 6 (see FirstEnergy Involved in Bribery Scheme to Pass $1B Nuke Bailout Law). Ohio’s Attorney General, Dave Yost, has just filed a second lawsuit to stop the collection of money from ratepayers that funds $150 million annual payments to FirstEnergy provided for under HB 6. We also have news about a potential sixth person being investigated for involvement in the scandal.
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Weekly Shale Drilling Permits for PA, OH, WV: Nov. 9-13

An interesting week for permits. Last week Pennsylvania issued just 2 new shale well drilling permits after having issued 3 the week before (lowest numbers we’ve seen). Ohio, which has not issued many permits in recent months, was on fire last week with 17 new shale permits! West Virginia issued just 1 new shale well permit.
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Gulfport Energy Files for Pre-arranged Chapter 11 Bankruptcy

We hoped it wouldn’t happen, but warned you it might when Gulfport Energy announced several weeks ago it had missed a debt payment and was in “restructuring” talks (see Gulfport Energy Misses Debt Payment, in “Restructuring” Talks). On Saturday, Gulfport, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), announced it had filed for a “pre-arranged” Chapter 11 bankruptcy.
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PTT Delays Final Cracker Decision to at Least Middle of 2021

Once again PTT Global Chemical is changing the timeline for a final investment decision (FID) to build a $10 billion ethane cracker plant in Belmont County, OH–for the umpteenth time. The most recent timeline had a decision coming by the end of this year or in the first quarter of next year. Whoops, they did it again! The new timeline is now “at least the middle of 2021.”
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Bobcat Energy Plans 2nd Wastewater Injection Well Near Youngstown

Injection well process (click for larger version)

Last year Bobcat Energy Resources finished work on a Class II wastewater injection well in Coitsville Township, near Youngstown, OH, and began operating the well (see New Mahoning Injection Well Online Soon; OEPA Issues Violation). Bobcat has filed an application with the Ohio Dept. of Natural Resources (ODNR) to drill a second injection well at the same site. This is great news for Utica (and Marcellus) drillers that need a reliable way to dispose of large volumes of brine wastewater that comes out of wells for years after the wells are drilled and hooked to production.
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Weekly Shale Drilling Permits for PA, OH, WV: Nov. 2-6

Last week Pennsylvania issued a paltry 3 new shale well drilling permits (lowest we’ve seen in months), Ohio issued a single new permit, and West Virginia issued 5 new shale well permits. All 3 PA permits were issued in Greene County. The OH permit was issued in Carroll County (bit of a surprise). And all 5 WV permits were issued in Tyler County.
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