Bidenistas Claim IRA Crap Sandwich is Filet Mignon for PA & OH
Yesterday, the U.S. Department of the Treasury released new data from the IRS along with analysis by the Office of Economic Policy that claims more than 158,000 Pennsylvanian families benefited from more than $267 million in tax credits to lower the costs of clean energy and energy efficiency upgrades to their homes during 2023, money that came from the misnamed Inflation Reduction Act (IRA). Treasury makes a similar claim for Ohioans, saying 109,000 Ohio families benefited from more than $150 million in tax credits from the IRA. The Bidenistas are fishing for votes in states like PA and OH, trying to sell an IRA crap sandwich by calling it filet mignon.
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MARCELLUS/UTICA REGION: Steel Nation names Sandra Spencer business development manager; NATIONAL: Appeals Court sends pair of LNG permits back to FERC; INTERNATIONAL: Oil rallies on mounting risks and falling stockpiles; Maersk ship order shows change in view on LNG as marine fuel.
Pipeline giant Williams, with major assets in the Marcellus/Utica and the owner of the mighty Transco pipeline that flows huge quantities of M-U gas south and southwest, issued its second quarter 2024 update yesterday. CEO Alan Armstrong called attention to the “crisp execution of key projects” that will benefit the company. Among those projects was the BIG news that the company’s Transco Regional Energy Access Expansion (REAE) project went fully online on August 1st. Also prominently mentioned was the completion of the company’s Marcellus South gathering expansion project.
In April, the Ohio Oil and Gas Commission upheld a regulatory order from the Ohio Dept. of Natural Resources (ODNR) suspending operations of three wastewater injection wells located in Torch (Athens County), OH, owned by K&H Partners, a subsidiary of Tallgrass Energy (see 
In June 2018, MDN exclusively brought our readers the news that Diversified Gas & Oil (now called Diversified Energy) had purchased EQT Corporation’s Huron Shale assets, with a bunch of conventional wells, in Kentucky, Virginia, and West Virginia for $575 million (see 
Last November, MDN told you about Clean Fuel Services LLC, a subsidiary of Hog Lick Aggregates LLC, one of fourteen partner companies from West Virginia, Ohio, and Pennsylvania providing hydrogen production, offtake, and connective infrastructure for the Appalachian Regional Clean Hydrogen Hub (ARCH2) project (see 
Writing for Hart Energy’s Oil and Gas Investor magazine, author Nissa Darbonne penned a fabulous overview of the Utica, bringing us the history of oil drilling in Ohio (in the 1800s) all the way up to the present day and Encino Energy’s dominance in oil drilling in the Utica. The article includes details about Encino and other companies, including Infinity Natural Resources and EOG Resources. Yesterday, we brought you the secrets of the fracking recipe in the Utica used by Encino and INR (see 
Here’s a bit of good news, possibly. The Freeport LNG export facility, located on Quintana Island, near Freeport, Texas, currently exports 15.3 million metric tons per annum (MTPA). That is when it’s up and running. The plant was most recently down for most of July following a visit by Hurricane Beryl (see 
In January, Joementia announced he would “pause” any approvals for new LNG export plants (currently 17 requests in the pipeline) for at least one year while his people fart around pretending to figure out how to measure global warming as a new consideration for whether or not to approve such projects (see 
EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), owns nearly a half million acres of leases in the Ohio Utica. EOG calls its position the “Ohio Utica combo play” and now considers it one of the company’s “premium plays.” EOG concentrates on oil drilling in the Utica. As part of the company’s second quarter 2024 update, Jeff Leitzell, EOG’s Chief Operating Officer (COO) said the company added another 10,000 acres of leases to its Utica portfolio during 2Q (now at 445,000 acres). He also said the company is currently focusing on 225,000 acres that are in the “volatile oil window” of the Utica.
Southwestern Energy, with major assets in the Marcellus/Utica and Louisiana Haynesville, issued its second quarter update last week. You may recall that Southwestern agreed earlier this year to a deal to be acquired by and merged into Chesapeake Energy (see 
Every major public “upstream” (exploration and production) company invests in finding and developing reserves — except one, which happens to be the largest owner of wells in the country. Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (also assets in other regions, too), owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. The company doesn’t do any of its own drilling from scratch. It buys wells drilled long ago (or, in some cases, still under development).
Writing for Hart Energy’s Oil and Gas Investor magazine, author Nissa Darbonne penned a fabulous overview of the Utica, bringing us the history of oil drilling in Ohio (in the 1800s) all the way up to the present day and Encino Energy’s dominance in oil drilling in the Utica. The article includes details about Encino and other companies, including Infinity Natural Resources and EOG Resources. Yesterday, we brought you details about the founding and current status of INR (see 
We have often marveled at the innovation in the oil and gas industry that happens each year. When we first began to write about shale drilling in 2009, a long horizontal lateral was perhaps a mile. Today, there are wells that go over four miles underground! In 2009, it might take two months for a rig to drill a new well. Today, it’s done in a few weeks. The rigs operating today are doing the work of three to four times the same number just a few years ago. It’s astonishing. The end result is that shale drilling has gotten “leaner and meaner” and has resulted in lowered costs.