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Stone Hill Minerals Auctioning SW Appalachia Marc/Utica Package
EnergyNet is an online marketplace for buying and selling oil and gas working interests (operated and non-operated), overrides, royalties, mineral interests, leaseholds, and other contracts. From time to time, we spot auctions on EnergyNet for assets located in the Marcellus/Utica. Stone Hill Minerals Holdings LLC is using EnergyNet for the sale of a southwest Appalachia package in the Marcellus and Utica shale plays, with assets located in both West Virginia and Pennsylvania.
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Last week the three states with active Marcellus/Utica drilling, Pennsylvania, Ohio, and West Virginia, issued a collective 40 new drilling permits, way up from the 19 permits issued the week before. But there was a shocker. PA only issued nine new permits, while OH issued 14 new permits and WV issued a record high 17 new permits.
Holy smokes! What just happened? For months (and months and months) the cumulative number of weekly permits issued to drill new shale wells in the Marcellus/Utica has fluctuated from the low teens to perhaps 30 total on the upper end. Last week, from Jan. 17-23, an amazing 61 permits were issued to drill new shale wells. Double the usual. Wow! Pennsylvania issued 24 new permits, Ohio issued 9, and blow-the-doors-off-we’ve-never-seen-so-many-permits-issued-in-one-week for West Virginia, the Mountain State issued 28 new shale permits.
A healthy number of permits were issued to drill new shale wells across the Marcellus/Utica region last week. Pennsylvania issued 19 new permits in both southwest and northeast PA. Ohio issued 8 new permits, all of them to a single driller (Ascent Resources) for two well pads in two different counties. West Virginia issued 9 new permits–all but 2 of them were issued to Antero Resources in Tyler County.