Weekly Shale Drilling Permits for PA, OH, WV: Aug 30-Sep 5
Last week only Pennsylvania issued new permits for new shale well drilling–14 of them scattered around the state. Both Ohio (for the seventh week in a row) and West Virginia did not issue new shale permits last week.
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Anecdotally it seems as though there has been less drilling activity in the Marcellus/Utica over the past year. Some say it’s due to the coronavirus pandemic. Others say there’s more to it than that. If you’ve tracked public announcements by drilling companies, they claim to have pulled back on drilling and won’t increase current levels of drilling even when/if the price of natural gas increases. Why? They must turn a profit, or investors leaving for greener pastures (pun intended). But is there really less drilling happening in the M-U today than say one year ago?
Just yesterday MDN told you that Chesapeake Energy had enrolled in the same program EQT Corporation previously enrolled in to certify its natural gas as “responsibly sourced” (see