Weekly Shale Drilling Permits for PA, OH, WV: Nov. 23-27

Last week Pennsylvania issued 12 new shale well drilling permits with a mix of permits issued in both the southwest (wet gas) and northeast (dry gas) regions of the state. Ohio issued 7 new permits, all of them except one in the same county (Jefferson). West Virginia was a goose egg–no new permits issued last week.
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New Wastewater Injection Well May be Coming to Dimock in NEPA

Here’s a first! Pennsylvania has (so far) issued 36 permits for frack wastewater injection wells. Every single one of those wells is located in the western part of the state. A frack wastewater company headquartered in Susquehanna County, PA (in the northeastern part of the state) is “exploring the possibility” of building an injection well in (no lie) Dimock! We love it!
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Weekly Shale Drilling Permits for PA, OH, WV: Nov. 16-20

Last week Pennsylvania issued 11 new shale well drilling permits, all but one of them in the northeastern (dry gas) part of the state. Ohio issued one new permit, and West Virginia issued 2 new shale well permits.
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NEPA Producer Epsilon Energy 3Q Update: Longer Laterals Coming

Epsilon Energy concentrates most of its effort on the Marcellus in Susquehanna County, PA. Epsilon doesn’t actually do any of its own drilling. The company partners with (gives money to) other companies, like Chesapeake Energy, and the other company does the drilling. Epsilon, according to its website, owns ~4,000 net acres in the PA Marcellus. They also own assets in Oklahoma’s Anadarko Basin. On Tuesday Epsilon issued its third-quarter 2020 update, showing a bump up in revenue to $5.8 million in 3Q20 (vs. $5.2 million in 3Q19).
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Weekly Shale Drilling Permits for PA, OH, WV: Oct. 26-30

Last week Pennsylvania issued 16 new shale well drilling permits, and West Virginia issued 7 new shale well permits. Ohio issued no new shale permits last week.
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Cabot O&G 3Q: 2.4 Bcf/d, Drilled 13 Wells, Upper Marcellus Coming

Dan Dinges, CEO of Cabot Oil & Gas, said last week: “2020 has proven to be the most challenging year for natural gas prices in the last 25 years, resulting from a multi-year trend of overcapitalization of both oil and natural gas assets across our industry.” Indeed. The company released its third-quarter 2020 update on Friday and reported a net loss of $15 million, compared to net income of $90.4 million in 3Q19. This is the first quarterly net loss for Cabot in recent memory. Still, there was plenty of good news coming from the 3Q update…
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Weekly Shale Drilling Permits for PA, OH, WV: Oct. 5-9

Only Pennsylvania issued permits to drill new shale wells last week in the Appalachian region. Neither Ohio nor West Virginia issued any new drilling permits from Oct. 5-9. In PA, some 20 permits were issued in both the northeast and southwest parts of the state.
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Second Lawsuit Filed Against Cabot Claiming Securities Fraud

Here we go again. Just last week we told you that a New York City law firm couldn’t find enough interest to make a class action lawsuit against Cabot Oil & Gas using a sham indictment from the highly political Pennsylvania Attorney General’s office, so the law firm pulled the plug on the case (see Law Firm Withdraws Class Action Against Cabot re Securities Fraud). Another law firm is now trying the same thing…
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Weekly Shale Drilling Permits for PA, OH, WV: Sep 28 – Oct 2

Somebody lit a fire under drillers in Pennsylvania last week! Or maybe we should say a fire was lit under the PA Dept. of Environmental Protection (DEP). PA issued 35 new permits last week spread pretty much across the entire state–in the northeast, central, and southwest portions of the state. Ohio, once again, issued no new Utica permits last week. West Virginia issued a single new permit last week.
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PA’s Lackawanna College School of Petroleum and NatGas Relocating

Students at the School of Petroleum and Natural Gas

Years ago we told you about the top-notch program at Lackawanna College in northeastern Pennsylvania–their School of Petroleum and Natural Gas (see Lackawanna College Converts Branch Campus to Natural Gas Program). The PNG program is unique, one of just a handful nationwide that runs a two-year program to train students to be technicians, able to operate sophisticated machinery and run compressor stations, for example. The Lackawanna PNG program has outgrown its current location.
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Weekly Shale Drilling Permits for PA, OH, WV: Sep 14-18

Last week Ohio finally broke the drought of not issuing permits for new shale wells in the Buckeye State. Finally! Last week Pennsylvania issued 13 new permits for wells on three well pads. Ohio issued 4 new permits for wells on two well pads. And West Virginia issued 1 new permit.
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Epsilon Energy 2Q: $1.3M in Free Cash Flow, Revenue Down a Tad

Epsilon Energy concentrates most of its effort on the Marcellus in Susquehanna County, PA. Epsilon doesn’t actually do any of its own drilling. The company partners with (gives money to) other companies, like Chesapeake Energy, and the other company does the actual drilling. Epsilon, according to its website, owns ~4,000 net acres in the PA Marcellus. They also own assets in Oklahoma’s Anadarko Basin. Last week the company issued its second-quarter 2020 update.
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Law Firm Files Class Action Against Cabot Claiming Securities Fraud

In June MDN told you that a New York City law firm was “investigating” Cabot Oil & Gas with an eye to filing a class action lawsuit, on behalf of investors, over false allegations made by the Pennsylvania Attorney General who had filed felony charges against Cabot regarding a long-closed regulatory issue in Dimock, PA (see Law Firm Targets Cabot for Class Action Claiming Securities Fraud). The investigation is now over and the law firm found an investor to file a class lawsuit, which was filed yesterday in a federal court in Texas.
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Cabot 2Q – Still Drilling & Making Money in a Down Economy

Cabot Oil & Gas issued its 2Q20 update on Friday. CEO Dan Dinges said natural gas prices hit a historic low in 2Q (lowest since 1995), but he thinks the price will improve “this winter.” Although the price Cabot got for its gas last quarter ($1.52/Mcf) was 33% lower than a year ago, the company still made a profit. Cabot netted $30 million in 2Q, vs. netting $181 million a year ago. The company drilled 14 new shale wells, completed/fracked 31 wells, and placed 25 new wells online last quarter. They produced an average of 2.2 Bcf/d of natural gas.
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Northeast PA Landowner Settles with Williams for Big Bucks

In 2016 MDN told you about the Holleran family who didn’t want the much-needed Constitution Pipeline to cross their land in Susquehanna County, PA (see Maple Syrup Farm in Path of PA Pipeline, Antis Make Most of It). Hollywood actor James Cromwell and other anti-drillers heard about it and visited to add their shrill voices to the protest (see Actor James Cromwell Admits He’s Clueless, Fights Pipeline Anyway). The protesters tried to stop Williams from clearing trees on the property. A judge got tired of their shenanigans real quick (see Judge Tells NEPA Family to Let Williams Cut Maple Trees, Or Else).
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