Epsilon Energy, one of the smaller Marcellus drillers that we track, issued an update this week to say the company has issued a dividend and has repurchased shares of the company’s stock in an effort to reward and increase value to investors. Epsilon also reports a new well in which they own a share recently came online to sales in Susquehanna County, PA.
Read More “Epsilon Energy Issues Dividend; New PA Well Comes Online”
This is quite a turnabout. George Mitchell pioneered how to combine horizontal drilling with hydraulic fracturing in the Texas Barnett Shale 25 years ago, giving birth to the miracle of modern-day “fracking.” Drillers throughout the southwest, in Texas, New Mexico, and Oklahoma, experimented and blazed a trail for the rest of the country (and world) to follow. Yet now, representatives from those three southwestern states have traveled to northeastern Pennsylvania and the Marcellus to learn a thing or two that we have figured out and do better.
Read More “Texas, New Mexico, Okla. Travel to PA Marcellus to Get Educated”
After several weeks of anemic permit numbers for Pennsylvania, last week PA came roaring back by issuing 30 permits to drill new shale wells. Some 12 of those permits went to Coterra Energy for two pads in Susquehanna County. EQT (aka Rice Drilling) received six permits for a single pad in Greene County, and Chesapeake Energy also received six permits split between two pads–one pad in Bradford County and the other in Lycoming County.
Read More “45 New Shale Well Permits Issued for PA-OH-WV Aug 15-21”
The Pennsylvania Dept. of Environmental Protection (DEP) reporting website finally fixed whatever problem was plaguing it (this time), so we now have the permit report from August 1-7. Pennsylvania only issued seven new permits during that time, with three going to Range Resources in Washington County and three going to Southwestern Energy in Susquehanna County. Ohio issued a single new permit to Southwestern in Monroe County. And West Virginia issued five new permits, with four of the five going to EQT in Wetzel County.
Read More “13 New Shale Well Permits Issued for PA-OH-WV Aug 1-7”
Epsilon Energy concentrates most of its effort on developing Marcellus Shale wells in Susquehanna County, PA. Epsilon typically does not do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy, and the other company typically does the drilling. Epsilon issued its second quarter 2022 update earlier this week. The company’s Marcellus net gas production was 2.324 Bcf (billion cubic feet) in total, not per day, during 2Q22. That number is down from 2.548 Bcf in 2Q21.
Read More “Epsilon Energy 2Q22 – Production Dips, but Revenues & FCF Soars”
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. Earlier this year, Repsol said it was working with certification authority MiQ to have all of its Marcellus production (roughly 1.5 billion cubic feet per day from ~680 wells) certified as “responsibly produced” (see Repsol Pursues MiQ Responsible Gas Cert for Marcellus Production). As part of the MiQ certification process, Bridger Photonics, Inc. will deploy its airborne methane detecting laser technology to help Repsol spot fugitive methane leaking from its operations.
Read More “Repsol Deploys Methane-Imaging Lasers to ID Fugitive Emissions”
During pipeline giant Williams’ 2Q22 update last week, company officials talked about expansion projects in the Marcellus/Utica region (see Williams 2Q: Summer Heat + LNG = High Activity on Transco Pipe). One of the four projects mentioned (via a slide) is the “Susquehanna Gathering Expansion,” an additional 20 miles of gathering pipeline and incremental compression. The target in-service date is the fourth quarter of next year. Via a notice published in Saturday’s Pennsylvania Bulletin, we know where 14 miles of that 20 miles will be located.
Read More “Williams Adding 14+ Miles of Gathering Pipe in Susquehanna County”
For the week of July 25-31, the three Marcellus/Utica states issued 24 permits to drill new shale wells, up from 16 the prior week. However, in a major turnaround, Pennsylvania only issued two new permits, one to Chesapeake Energy and the other to Olympus Energy. Ohio had the lion’s share of new permits, issuing 14. Eight of Ohio’s permits went to Encino Energy, and four to Utica Resources Operating. West Virginia issued eight new permits, with seven of them going to Antero Resources.
Read More “24 New Shale Well Permits Issued for PA-OH-WV Jul 25-31”
Coterra Energy, formed last October when Cabot Oil & Gas merged with Cimarex Energy, issued its second quarter update yesterday. The company made $1.2 billion in profit last quarter, versus making just $30 million a year ago. Natural gas production in the Marcellus stayed pretty much even at 2.22 Bcf/d. The company generated over $1 billion in free cash flowing during 2Q–one of the highest, if not the highest, we’ve seen. Coterra uses its free cash flow to issue dividends, buy back shares, and retire debt sooner.
Read More “Coterra Makes $1.2B in 2Q, Pumps 2.8 Bcf/d NatGas, 3 Rigs in NEPA”
For the week of July 11-17, the three Marcellus/Utica states issued 47 permits to drill new shale wells, up 10 from the prior week. Pennsylvania issued the lion’s share with 35 new permits. CNX grabbed seven of those permits in Washington County, and Olympus Energy received six in Westmoreland County. Ohio issued 11 new permits, with four going to Ascent Resources in Jefferson County, and four to Hilcorp Energy in Columbiana County. West Virginia issued a paltry one new permit, which went to Southwestern Energy in Ohio County.
Read More “47 New Shale Well Permits Issued for PA-OH-WV Jul 11-17”
Pennsylvania State Police are investigating the vandalism and theft of copper from a Coterra Energy well pad on Stockholm Road in Rush Township in Susquehanna County, PA, sometime between July 8 and 14. The case appears to be your garden-variety case of lowlifes stealing copper to resell it (a “crime of opportunity”), and not some sort of statement by environmental wackos. But, one never knows with wackos…
Read More “Troopers Investigate Theft of Copper from Coterra Well Pad in NEPA”
For the week of July 4-10, the three Marcellus/Utica states issued 37 permits to drill new shale wells. Pennsylvania led the way, as it typically does, by issuing 25 new permits. Three PA drillers tied with six permits each, all six (in each case) on the same pad: Olympus Energy in Allegheny County, Repsol in Bradford County, and Clean Energy Exploration in Tioga County. Ohio issued five new permits, with four going to Encino Energy for a single pad in Carroll County. West Virginia issued seven new permits, all of them to Antero Resources in Doddridge County but spread across three pads.
Read More “37 New Shale Well Permits Issued for PA-OH-WV Jul 4-10”
Women make up a small but growing part of the natural gas industry in the northeastern Pennsylvania Marcellus. Estimates are that women make up 15 to 22 percent of the workforce in the petroleum and natural gas industry. Below are the stories of several women who have found rewarding work in the NEPA Marcellus–and it’s not just success with indoor jobs.
Read More “Women Excel in Marcellus Shale Jobs in NEPA”
The Pennsylvania Environmental Hearing Board (EHB) is a special court set up in PA to hear appeals of decisions made by the PA Dept. of Environmental Protection (DEP). In February 2021, a landowner (three people living at the same address) in Susquehanna County, PA, filed a lawsuit with the EHB against the DEP and Coterra Energy (formerly known as Cabot Oil & Gas) alleging Coterra’s drilling program nearby had led to polluting their water well. As of last week, the case was dismissed and the Pittsburgh attorney for the landowner (for the first time ever) was sanctioned by the EHB.
Read More “PA EHB Sanctions Landowner Attorney in Coterra Water Well Case”
We finally started to see more permits issued again last week. After the Marcellus/Utica was in the permit doldrum for nearly a month, bumping around at 20 permits or below, last week the number increased to a total of 34 permits issued to drill new shale wells. Pennsylvania issued 13 new permits, with seven of them going to Coterra Energy in Susquehanna County on the same pad. Ohio issued 14 new permits, with 12 of them going to Ascent Resources distributed across four different counties. And West Virginia issued seven new permits, all of them to Antero Resources, all in Doddridge County.
Read More “34 New Shale Well Permits Issued for PA-OH-WV Jun 13-19”
We’re always on the lookout for indicators and trends that tell us whether or not there will be more or less drilling (and leasing) in the Marcellus/Utica. Lately, we’ve seen a couple of mentions of new leases signed, at least in the Ohio Utica (see Signing Bonuses, Royalties, New Leases Pick Up in Ohio Utica and MWCD Signs Lease for 7,300 OH Acres – $5,500/Acre + 20% Royalties). What about Pennsylvania? An article in the Scranton Times-Tribune quotes a local law firm that represents drillers. The law firm is predicting a “gas boom reboot.” We like the sound of that!
Read More “Scranton Law Firm Says New Boom in Shale Drilling Coming in NEPA”