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61 New Shale Well Permits Issued for PA-OH-WV Jan 17-23
Holy smokes! What just happened? For months (and months and months) the cumulative number of weekly permits issued to drill new shale wells in the Marcellus/Utica has fluctuated from the low teens to perhaps 30 total on the upper end. Last week, from Jan. 17-23, an amazing 61 permits were issued to drill new shale wells. Double the usual. Wow! Pennsylvania issued 24 new permits, Ohio issued 9, and blow-the-doors-off-we’ve-never-seen-so-many-permits-issued-in-one-week for West Virginia, the Mountain State issued 28 new shale permits.
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A healthy number of permits were issued to drill new shale wells across the Marcellus/Utica region last week. Pennsylvania issued 19 new permits in both southwest and northeast PA. Ohio issued 8 new permits, all of them to a single driller (Ascent Resources) for two well pads in two different counties. West Virginia issued 9 new permits–all but 2 of them were issued to Antero Resources in Tyler County.
Once you sort through all of the subsidiaries of subsidiaries of subsidiaries, you’ll find this news from a press release we spotted this morning: PennEnergy Resources has sold a gathering pipeline system in western Pennsylvania, called Pine Run Midstream, to a joint venture partnership between venture capital firm Energy Spectrum Partners (based in Texas) and utility/pipeline company UGI (based in Pennsylvania). Sale price: $205 million.
