Range Sees Slight Bump in Production in 2Q, Net Income Down 5%
Range Resources Corporation, the very first company to drill a shale well targeting the Marcellus Shale layer in Pennsylvania (in 2004), issued its second quarter 2024 update earlier this week. Range continues to hold its production relatively flat. During 2Q, Range produced 2.15 Bcfe/d (billion cubic feet equivalent per day), with approximately 69% of production comprised of natural gas and the rest in NGLs and oil. Range’s 2Q24 production is up 3% from 2Q23, but essentially flat from 1Q24 (2.14 Bcfe/d). Steady as she goes. Net income was $28.7 million, down 5% from the same quarter last year.
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Yeah, well, that didn’t take long. Earlier this week, Pennsylvania Josh Shapiro (left-wing Democrat) held a rally with Biden’s EPA chief Michael Regan in Pittsburgh to tout a big old pot of money, $396 million, coming from the feds to PA to essentially buy votes (see 
According to the left-leaning Spotlight PA, “A flurry of recent bipartisan agreements by state lawmakers on energy projects and policies is sending a clear message: Pennsylvania is slowly moving toward clean energy but fossil fuels aren’t going anywhere.” Joe Biden is sending big money to Pennsylvania to fund all sorts of ludicrous “renewable” energy initiatives (i.e., bribes). However, sources talking to Spotlight PA confirm that fossil fuels — the Marcellus industry — remain strong and are not going anywhere.
Here is an incontrovertible fact: In a CNN town hall debate during the 2019 presidential primary, Kamala Harris said, “There’s no question I’m in favor of banning fracking.” She hasn’t changed her position in the last five years. And that’s a problem for Harris in “swing” states like Pennsylvania. She said she would ban it from “day one” on federal lands and then work her way around to private lands later. The left always uses incrementalism. There is no question that Harris is left of Joe Biden if such a thing is possible. We think it’s quite possible Harris will try to recruit PA’s dud, do-nothing Governor, Josh Shapiro, to run with her as her VP candidate to try and persuade PA voters that her radical position supporting a fracking ban shouldn’t prevent them from voting for her. Harris figures that if Shapiro is on the ticket, it will assuage voters’ concerns. Don’t fall for it. If Harris loses PA, she loses the election.
A disappointing (but not surprising) decision from the Democrat leftists on the Pennsylvania Supreme Court was issued last Thursday. The so-called Supremes ruled in favor of allowing three well-financed Big Green groups, including the Sierra Club, PennFuture, and Clean Air Council, to join a lawsuit attempting to force the Regional Greenhouse Gas Initiative (RGGI) obscene carbon tax on coal- and gas-fired plants in the Keystone State. Big Green can now participate, bringing along big money and attorneys to support the state Dept. of Environmental Protection (DEP), which is trying to force state participation in RGGI.
In June, MDN told you about a very small lease deal on offer for North Huntingdon Township in Westmoreland County, PA (see 
In May, the supervisors of West Deer Township (Allegheny County), PA, held a regular monthly meeting. One item on the agenda was the potential adoption of revisions to the town’s oil and gas drilling ordinance. A number of (supposed) residents showed up to question the revisions and ask for stricter setbacks (a bigger distance from drilling to homes and other structures). Ultimately, the supervisors decided to delay a vote on the revisions, pushing it off until a future meeting (see 
For the week of July 8 – 14, a total of 31 permits were issued to drill new shale wells in Marcellus/Utica. Pennsylvania had a nice increase with 25 new permits issued. A full 9 of PA’s permits went to Snyder Brothers for a single well in Armstrong County. Another 6 permits went to EQT in PA’s Greene and Washington counties. There were 5 new permits in Ohio, all of them going to Encino Energy for a single pad in Guernsey County. West Virginia had a single new permit going to EQT in Wetzel County.
Environmental radicals have struck out a second time, and they’re pretty bitter about it. We’re talking about Senate Bill (SB) 831, the Carbon Capture & Sequestration (CCS) Act. Last week, a strong bipartisan majority in the PA legislature ignored the radicals that had asked Democrat legislators to block the bill, passing the bill and sending it to the governor’s desk (see 
The Bureau of Land Management (BLM) is seeking public input on four draft environmental assessments evaluating potential impacts from the proposed plugging of orphaned oil and gas wells on public lands in Pennsylvania and West Virginia. One of the assessments seeks public input on plans to cap twenty abandoned gas and oil wells along the river flowing into the Shenango River Lake in Mercer County.
If at first you don’t succeed, try, try again. That appears to be the philosophy of a group of radicalized “environmental” groups attempting to pressure Pennsylvania Gov. Josh Shapiro to veto a new bill sitting on his desk, Senate Bill (SB) 831, the Carbon Capture & Sequestration (CCS) Act. Last week, a strong bipartisan majority in the PA legislature ignored the same group that had asked Democrat legislators to block the bill (see 
Last fall, MDN shared the sad news that Pennsylvania State Rep. Charity Grimm Krupa (Republican In Name Only from Fayette County) had turned against the Marcellus industry (see 
A MAJOR victory for Pennsylvania Republicans that is not getting the attention it should. For years, PA State Sen. Gene Yaw and others have lobbied for review by qualified third parties to speed up the turnaround time to approve relatively simple permits issued by the Dept. of Environmental Protection (DEP), including earth disturbance/erosion permits, known as Chapter 102 permits, and water obstruction and encroachment permits, known as Chapter 105 permits (see