16 New Shale Well Permits Issued for PA-OH-WV Apr 29 – May 5
Two weeks ago, during the week of April 22 – 28, there were 26 new permits issued to drill in the Marcellus/Utica. Last week, for April 29 – May 5, there were just 16 new permits issued. Encino Energy was the top receiver of permits with 7 permits between two counties: Carroll and Harrison, both in Ohio. EQT (mainly under its Rice Drilling name) received 5 permits between Fayette and Greene counties in Pennsylvania. INR picked up 2 new permits in Guernsey County, OH. Both LOLA Energy and Chesapeake Energy picked up 1 new permit for Butler and Sullivan counties in Pennsylvania.
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DT Midstream (DTM), headquartered in Detroit, owns major assets in the Marcellus/Utica region and other regions like the Haynesville. DTM issued its fourth quarter 2023 update last Friday. The Marcellus/Utica region (which they call Northeast in the report) received several prominent mentions during a conference call with analysts. Also of note were comments by DT CEO David Slater, who said he’s positioning the company to take advantage of “bolt-on” opportunities in the regions where they operate. Meaning he’s on the lookout for mergers and acquisitions.
ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a three-cent ($0.03) dividend to unitholders for 4Q23. The company paid 4.3 cents per unit in 1Q23, nothing in 2Q23, and six-tenths of a penny ($0.006) in 3Q23 (see
Equitrans, the builder of the 303-mile Mountain Valley Pipeline project, is more than just a one-trick (one pipeline) pony. Equitrans owns 940 miles of FERC-regulated, interstate pipelines that have interconnect points to seven interstate pipelines and multiple local distribution companies (LDCs). The transmission and storage system is supported by 43 compressor units, with total throughput capacity of approximately 4.4 Bcf per day and compression of approximately 136,000 horsepower, and 18 natural gas storage reservoirs, which have a peak withdrawal capacity of approximately 820 million cubic feet (MMcf) per day and a working gas capacity of approximately 43 Bcf. Two of Equitrans’ 18 storage reservoirs — Hunters Cave and Swarts, both in Greene County, PA — are getting a makeover.
In July 2022, MDN brought you news of a possible frac-out, or “inadvertent return” that happens when drilling mud pops out of places where it’s not supposed to — places outside the borehole being drilled (see