CNX Resources | Energy Companies | EQT Corp | Greene County (PA) | Lease & Royalty Payments | Pennsylvania | Range Resources Corp | Washington County
WhiteHawk Energy Buys NatGas & Royalty Assets in SWPA for $52M
Using investment capital from Preferred Capital Securities, WhiteHawk Energy is buying mineral and royalty rights in southwestern Pennsylvania, primarily in Washington and Green counties, for $52.5 million. The assets include production and cash flow from over 950 horizontal Marcellus Shale wells. The wells are operated by EQT, CNX Resources, and Range Resources.
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The wild roller coaster continues of up, down, up, down, up, down. Last week the number of permits issued to drill new shale wells is down again–to 18 total. Pennsylvania had 16 new permits last week, nine for Repsol and three for Coterra Energy. All of Repsol and Coterra’s permits issued for Susquehanna County. West Virginia had two new permits, one each for Southwestern Energy and Antero Resources, in Marshall and Doddridge counties. Ohio? A big, fat, goose egg. No new shale permits issued last week in the Buckeye State.
We can’t resist a good railroad story. We’ve always loved them (we know, we’re weird). Here’s a good railroad story for you: Frack sand company Smart Sand, Inc., headquartered in The Woodlands, Texas, has just opened for business and is shipping frack sand to a brand new transloading facility in Waynesburg (Greene County), Pennsylvania.
EQT Corporation, the largest natural gas producer in the United States, announced last Friday that all of its natural gas produced in Washington and Greene counties in Pennsylvania (the majority of its production, some 4 Bcf/d) is now officially certified as “responsibly produced” gas by two different certification organizations: Equitable Origin and MiQ. That 4 Bcf/d of certified gas represents 4.5% of all natural gas produced in the U.S.
Last week 24 permits were issued to drill new shale wells in the Marcellus/Utica. Pennsylvania had the lion’s share with 19 new permits–most of those (10) were issued for two Chesapeake Energy well pads in Bradford County in the northeastern part of the state. Ohio had just two new permits, both on the same Southwestern Energy well pad in Monroe County. West Virginia had three new permits, one in Pleasants County and two in Marshall County.
The EQT Foundation was established in 2003 as a dedicated resource for financial, in-kind, and volunteer support to communities where EQT works and has a presence. Since its inception, the EQT Foundation has awarded more than $60 million to nonprofits throughout the operational footprint of EQT. That is an amazing number! In honor of Giving Tuesday, yesterday EQT announced the launch of two new giving programs to support the communities of Greene County, PA, and Wetzel County, WV.
Yesterday two Pennsylvania residents filed what they hope will turn into a class action lawsuit against EQT, the largest natural gas producer in the U.S. The lawsuit claims EQT has not made required royalty payments to the two residents nor to many (hundreds? thousands?) others. The lawsuit claims, among other things, a violation of PA’s Minimum Royalty Act that guarantees payments to all rights owners of at least 12.5% of the value of the produced gas.