Hess Buys NatGas Contracts Division of Delta Energy
Energy giant Hess Corp. announced yesterday it is buying the natural gas marketing division of Delta Energy. Delta is based in Dublin, Ohio. What Hess is buying are energy contracts—the right to sell natural gas to a certain list of commercial and industrial customers. Hess is a huge company with operations that span upstream (drilling new wells) to midstream (pipelines, processing and terminals) to downstream (selling oil and gas to end user customers). Hess owns leases for 185,000 Utica Shale acres in Ohio and seems to be making moves to increase its presence in the state for all of its operations.
More on the Hess purchase from Delta:
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EnerVest has put leases for 539,000 Utica Shale acres in Ohio on the auction block and hopes to get more than $6 billion dollars for it. That would be something north of $11,000 per acre. Pretty optimistic, but hey, you never know!
The Ohio Dept. of Natural Resources (ODNR) releases updates on Utica Shale permits and drilling each week. The numbers for August permits, along with cumulative totals for all permits issued and wells fracked and drilled, is shown in the handy table below. What do the latest numbers say? Of the 21 counties where there either has been or is permitting and drilling, the hot spot is Carroll County. Last month Carroll County saw 25 new permits issued for Utica wells, all of them issued to Chesapeake Energy.
The Youngstown Business Journal and Farris Marketing today launch a new Marcellus and Utica Shale supply chain connection website called
Ohio’s official state geologist, Larry Wickstrom, chief of the ODNR’s Division of Geological Survey, was fired in May because he updated and released a map showing new boundaries for the Utica Shale and where the best places to drill would be located (