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Weekly Shale Drilling Permits for PA, OH, WV: Jan 25-29
All three M-U states received permits to drill new shale wells last week. Pennsylvania received 22 new permits. Ohio received 2 new permits. And West Virginia received 8 new permits.
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In 2016 a group of business and government leaders from Ohio and West Virginia in the Mid-Ohio Valley banded together to form an economic development group called Shale Crescent USA, or SCUSA (see 
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.
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 
Ohio Attorney General Dave Yost continues to hammer FirstEnergy Corporation. In November Yost filed a lawsuit to block the collection of $150 million provided for under House Bill (HB) 6, aimed at propping up FirstEnergy’s unprofitable nuclear power plants in the state (see 
The Enverus U.S. oil and gas rig count slipped by one to 406 over the past week. The Marcellus play stayed even with 32 active rigs. However, in a good sign, the Ohio Utica picked up 2 new rigs to close the week with 8 active rigs (total of 40 active rigs in the M-U).
FirstEnergy is up to its metaphorical rear-end in alligators. Not only has the Ohio Supreme Court blocked (for now) the collection of annual $150 million payments from the residents of Ohio given to FirstEnergy to prop up its uneconomic nuclear power plants, but multiple (over a dozen) lawsuits have been filed against the company by some of FirstEnergy’s biggest investors alleging fraud that has caused the company’s stock price to plummet.
The Ohio Supreme Court just delivered a decision that affects one particular landowner (and former mineral rights owner), but also has implications for all Ohio landowners and rights owners. And by extension, implications for drillers that pay royalty payments. The Supremes found in Gerrity v. Chervenak that the landowners in the case (the Chervenaks) did enough due diligence when searching for the rights owner who had moved out of the area. The Supremes said the landowner performed the proper steps to reclaim ownership of the severed mineral rights under their land.