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34 New Shale Well Permits Issued for PA-OH-WV Apr 4-10
Last week Pennsylvania issued 15 new shale well permits (up one from the prior week), with Repsol taking five, and both Range Resources and Seneca Energy grabbing four each. All permits for each of the three were on a single pad. Ohio issued five new permits last week, with all five going to Ascent Resources. West Virginia issued a big 14 permits (after issuing no permits in the prior week). Antero Resource received six permits, with Southwestern Energy and HG Energy each receiving four permits in WV.
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Last week Pennsylvania issued 14 new shale well permits, with EQT Corp. grabbing eight (seven of them on a single pad in Fayette County), and Coterra Energy (formerly Cabot Oil & Gas) receiving three (all on the same pad in Susquehanna County). Ohio issued ten new permits last week, with three going to a relative newcomer, Utica Resource Operating (same pad in Guernsey Count) and three for Encino Energy (same pad in Harrison County). West Virginia got skunked and shows no new shale permits issued last week. Pity.
According to the Bureau of Labor Statics, the oilfield services and equipment industry grew by over 7,000 jobs in December 2021. Marcellus/Utica companies can’t find enough workers to fill all of the open positions in our region, especially in Pennsylvania. According to an article in the Wellsboro Gazette (Tioga County, northeastern part of the state), companies in Tioga and Potter counties can’t fill all of their open positions.
As predicted last week by Reuters, Chesapeake Energy announced yesterday it is buying Marcellus driller Chief Oil & Gas plus associated non-operated assets from Tug Hill Operating for $2 billion in cash and approximately 9.44 million common shares. The total purchase price (given the current CHK stock price of $67/share) is roughly $2.6 billion. The combination makes Chesapeake a powerhouse driller in the northeast Pennsylvania Marcellus with 653,000 acres of leases.
In September MDN broke the news that Rockdale Marcellus had filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of Pennsylvania (see 
There was a healthy number of new permits issued in all three actively drilling Marcellus/Utica states last week. In Pennsylvania, 14 new shale well permits were issued across the state. In Ohio, five new shale permits were issued, four of them to a single driller (Ascent Resources) in a single county (Jefferson). West Virginia came roaring back after getting skunked with no permits two weeks ago. WV issued 10 new shale permits last week with five going to a single well pad in Monongalia County.
Back in June, MDN told you about a long-running lawsuit in Tioga County, PA by landowners who claim that UGI has taken their mineral rights as part of operating the Meeker Storage Field, an underground natural gas storage facility (see 
A sad exclusive to share with you today. Yesterday northeast Pennsylvania driller Rockdale Marcellus filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court for the Western District of Pennsylvania. The company, which owns and operates 66 producing wells on 42,897 net acres in three northeast PA counties (regional headquarters in Pittsburgh) plans to auction off all of its assets according to paperwork filed with the court.