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Chesapeake Energy Puts Most of its Chips on Northeast PA Marcellus
When Chesapeake Energy issued its first-quarter update a month ago, MDN pointed out that the company has finally turned from its dalliance with oil drilling (having fired CEO Doug Lawler) and is now training its sights back on its first love, natural gas drilling (see Chesapeake 1Q21: Returning to Its Roots of Drilling for NatGas). Northeastern Pennsylvania plays a key role in the company’s plans for the future. In 2021, some 45% of Chessy’s production will come from four northeastern PA counties: Bradford, Sullivan, Susquehanna, and Wyoming.
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All three M-U states received permits to drill new shale wells last week. Pennsylvania received a whopping 17 new permits spread across various counties and drillers. Ohio received just 2 new permits last week, both for Ascent Resources on the same pad. And West Virginia received a big 12 new permits split between two drillers: Antero Resources and Tug Hill Operating.
In January EQT Corporation announced it would partner with a Denver, CO company calling itself “Project Canary” to run a test on two of its shale gas pads, to prove the natural gas produces is “certified responsibly sourced” (see 
At some point in the distant past (during our lifetime) swamps got renamed to “wetlands.” Don’t you just love how the left euphemizes everything? Chesapeake Energy is a bad actor when it comes to shafting landowners out of royalties, we’ll grant you that. However, the company must now pay Pennsylvania and the federal government (DOJ and EPA) a combined $1.9 million for “failure to identify and protect wetlands at 76 oil and gas well sites in Pennsylvania.” In other words, failure to protect swamps.
We don’t write much about Alta Resources, a shale drilling company co-founded by the inventor of shale fracking, George Mitchell. But that doesn’t mean Alta doesn’t drill in the Marcellus. The company owns some 547,000 gross (239,000 net) acres producing natural gas from approximately 900 wells in the Marcellus Shale across Bradford, Wyoming, Sullivan, Lycoming, Clinton, and Centre counties in northeast Pennsylvania. Alta is shopping all of their considerable Marcellus assets, looking for a buyer.
We don’t often see news about a Marcellus producer called Alta Resources. Alta was one of the first drillers we wrote about just after launching the MDN website back in 2009 (see