21 New Shale Well Permits Issued for PA-OH-WV Sep 12-18
Last week the three states with active Marcellus/Utica drilling, Pennsylvania, Ohio, and West Virginia, issued a collective 21 new drilling permits, down from the 30 permits issued the week before, and down from the 40 permits issued the week before that. The trend is not our friend right now. PA issued 13 permits, and OH and WV issued four permits each.
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Yesterday MDN brought you the news that EQT Corporation is buying the West Virginia assets of Tug Hill Operating–the company’s THQ Appalachia operation–for $5.2 billion (see
The rumors were right. Yesterday we brought you the news (rumors), as reported by both Reuters and Bloomberg, that EQT Corporation was about to seal a deal to buy Tug Hill’s THQ Appalachia operation with major assets in West Virginia (see
Tug Hill Operating is focused on acquiring, exploring, developing, and producing oil and natural gas in the onshore U.S. with a primary focus on the Marcellus Shale in the Appalachia Basin (Southwest Appalachia in West Virginia, and Northeast Appalachia in Pennsylvania), Eagle Ford Shale in South Texas, Niobrara Shale in the Rockies region, and other select basins and formations. According to sources speaking with Reuters, Tug Hill is looking to divest its West Virginia assets for $5 billion.