Researchers Find Fracking May Impact Smaller Streams in SE Ohio
Researchers with Ohio Northern University recently published a study that finds that fracking for Utica Shale sometimes (“episodically”) reduces small Eastern Ohio River basin stream levels. The fluctuations in those stream levels “could” (but not necessarily do) negatively impact aquatic life (ecosystems) in those areas. The situation should, according to the researchers, be confirmed by more studies and monitoring.
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New shale permits issued for May 29-Jun 4 in the Marcellus/Utica finally went higher again last week. There were 25 new permits issued, up from the dismal 8 new permits issued the previous week. Last week’s permit tally included 13 new permits for Pennsylvania, 6 new permits for Ohio, and 6 new permits in West Virginia. EQT scored the most new permits with 7 issued in Greene County, PA. Close behind in the #2 position was Antero Resources, with 6 new permits issued in Ritchie County, WV.
Last week shale drillers could, for the first time, begin to apply for permits to drill under (not on top of) Ohio state lands and state parks under newly formulated rules established by the Ohio Oil & Gas Land Management (OGLM) Commission (see 
Last week shale drillers could, for the first time, begin to apply for permits to drill under (not on top of) Ohio state lands and state parks under newly formulated rules established by the Ohio Oil & Gas Land Management (OGLM) Commission (see 
Yesterday the virtual ribbon was cut, and drillers could, for the first time, begin to apply for permits to drill under (not on top of) Ohio state lands and state parks. In January, Ohio House Bill (HB) 507 became law with the signature of Gov. Mike DeWine (see 
We’re about tell you about bitcoin mining and blockchains, a topic we know VERY little about. We feel like we’ve entered the Twilight Zone! However, we believe there’s a connection (in this case) with the Utica Shale. So strap in and hold on…We spotted a press release from a company we hadn’t heard of before called Compass Mining, which claims it is the world’s first and largest online marketplace for bitcoin mining hardware and hosting. (Hold on, we’ll explain that in a moment.) Compass Mining says it has partnered with another company, Arthur Mining, to launch a bitcoin mining site in Ohio, called Ohio 2.
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The news lit up Friday afternoon with the latest rig count by Baker Hughes Co. (BKR). We always caution that weekly rig counts are not a reliable way to gauge drilling activity as the count floats up and down each week. However, on Friday, the bottom kind of dropped out of the natural gas rig count. BKR said the gas-focused rig count dropped by 16 to 141 for the week, which amounts to a 10% drop in a single week. That *does* get your attention. The general consensus seems to be that low, low prices (bumping around near $2/MMBtu) have finally taken their toll, and drillers are pulling back on drilling new wells. How many rigs were lost in the Marcellus and Utica last week?
Ascent Resources, originally founded as American Energy Partners by gas legend Aubrey McClendon, is a privately-held company that focuses 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer (352,000 leased acres) and the 8th largest natural gas producer in the U.S. The company issued its first quarter 2023 update yesterday. Ascent net production averaged 2.2 Bcfe/d (billion cubic feet equivalent per day) during 1Q23, up 12% over 1Q22. The company made $1.1 billion in profit during 1Q23, a massive +$2.7 billion swing from losing $1.6 billion in 1Q22.