NATIONAL: United States produces more crude oil than any country, ever; INTERNATIONAL: Shell gas and LNG veteran to leave the company; Visualizing natural gas reserves by country.
Read More “Other Stories of Interest: Tue, Mar 12, 2024”
We’ll be darned. We’ve been writing the MDN blog/news site since 2009, and a LOT has happened over those years. One of the more noteworthy events was when so-called activist investors forced EQT Corporation to split itself into two companies, which ultimately became EQT Corporation and Equitrans Midstream in November 2018 (see It’s Here! EQT Midstream Division Now Split into Standalone Co.). Equitrans became a new, completely separate company with its own board of directors and its own set of investors. And now, five-and-a-half years later, EQT dropped the bombshell announcement this morning that it has cut a deal to buy back Equitrans in an all-stock deal that creates a new company worth $35 billion. We wonder what the “activist” investors think of that.
Read More “Stop Press! EQT Buying Equitrans Midstream in All-Stock Deal”
In the early days of the Marcellus/Utica, landowners often formed groups to negotiate lease terms on behalf of all members. It’s a smart move as it tends to deliver better lease terms — more money for a signing bonus, better royalty rates, and better language in the contract. In fact, MDN got its start when editor Jim Willis noticed a group of 300 landowners (many of them farmers) in nearby Deposit, NY, signed a lease deal with XTO Energy for $90 million (see this story). It made more than one millionaire! Some of the leases signed by landowner groups years ago are now expiring and in one case — in Marshall County, WV — group members are once again shopping their land as an entire block, looking for drillers who will give them the best terms.
Read More “WV Mineral Rights Group Cut Out Landmen, Deal Direct w/Drillers”
Kentucky is not known as a hotbed of shale drilling activity. The Marcellus/Utica does not extend under the Bluegrass State. However, as we wrote about back in 2017, Kentucky does have the Berea Sandstone which contains oil deposits (see Fracking Comes to Kentucky – Encore Drills First Horizontal Oil Wells). In 2017 we brought you the news that Encore Energy was just beginning to drill shale wells looking to extract oil from the Berea. Fast forward to today, and there are over 100 horizontal wells permitted, drilled and/or producing in the Berea in Lawrence County. The horizontal Berea play is the most active and prolific oil and gas field operation in Kentucky.
Read More “Encore Energy Provides Update for Shale Oil Drilling in Kentucky”
In February, MDN brought readers the news that Tenaska, one of the largest privately operated companies in the U.S., is building a carbon capture and sequestration (CCS) hub spanning tens of thousands of acres in Pennsylvania, Ohio, and West Virginia (see Landmen Knocking Doors in PA, OH, WV to Sign for CCS, Pore Rights). Landmen are “knocking on doors again” in all three states, looking to sign up landowners to store carbon dioxide deep underground. The West Virginia Surface Owners’ Rights Association (WVSORA) has done some research and is offering its advice to landowners about leasing pore space.
Read More “New Resource for WV Landowners on Leasing for Pore Space”
Last week, the Baker Hughes rig count lost seven rigs after gaining three rigs the week before. The count went from 629 active rigs two weeks ago to 622 last week. The national count has consistently stayed between 620 and 625 (or one or two above or below that range) since last October until recently, when it went higher for a few weeks. But now it’s back in the same long-term range. The Marcellus/Utica remained the same last week with Pennsylvania at 24 rigs (the most since last June), Ohio with 12 rigs, and West Virginia with 8 rigs. The M-U combined is running 44 rigs, which it has run in four of the last five weeks.
Read More “Baker Hughes U.S. Rig Count Loses 7 @ 622, M-U Even @ 44”
Last year, University of Pittsburgh (Pitt) researchers released three studies commissioned by the State Dept. of Health supposedly investigating whether or not there is a connection between shale drilling and childhood diseases, including cancer (see Pitt Releases Fake Research, Claims PA Fracking Linked to Kid Cancer). It was fake research, as we pointed out in a follow-up post (see Serious Flaws Revealed in Pitt’s So-Called Fracking/Cancer Studies). A new set of researchers with access to real data about cancer rates in dogs decided to see if a connection exists between dogs with cancer and their nearness to fracking operations. The new research finds no such correlation.
Read More “Dog Research Debunks Link Between Fracking and Cancer”
NATIONAL: Will election year finally make Biden admin get serious about natgas?; The hidden Qatar-backed ‘influencer’ pushing the Biden LNG pause; If you think energy policy is on wrong track, you may be accused of hate crime; INTERNATIONAL: Aramco announces $121 billion profit in 2023, 2nd highest on record; Aramco sees China demand growing, eyes more investments; For U.S. exporters, avoiding Panama, Suez Canals comes at a cost.
Read More “Other Stories of Interest: Mon, Mar 11, 2024”
There were 17 new permits issued to drill in the Marcellus/Utica during the week of Feb. 26 – Mar. 3, down 1 from 18 permits issued the prior week. Pennsylvania issued 8 new permits last week. Ohio issued 4 new permits. And West Virginia issued 5 new permits last week. Four companies tied for the top slot of receiving 3 permits each: Chesapeake Energy (Susquehanna County, PA), Seneca Resources (Tioga County, PA), Gulfport Energy (Harrison County, OH), and Antero Resources (Ritchie County, WV). Arsenal Resources received 2 permits (Taylor County, WV). Three companies received a single new permit: Laurel Mountain Energy (Butler County, PA), Campbell Oil & Gas (Westmoreland County, PA), and EOG Resources (Noble County, OH).
Read More “17 New Shale Well Permits Issued for PA-OH-WV Feb 26 – Mar 3”
Ascent Resources, founded as American Energy Partners by gas legend Aubrey McClendon, is a privately held company focusing 100% on the Ohio Utica Shale. Ascent, headquartered in Oklahoma City, OK, is Ohio’s largest natural gas producer and the 8th largest natural gas producer in the U.S. The company issued its fourth quarter and full-year 2023 update yesterday. The update contains a statement by CEO Jeff Fisher that says we should look for a shift in the company’s strategy in 2024 for less gas production and more liquids production.
Read More “Ascent Resources Shift in Strategy in 2024: Less Gas, More Liquids”
Last September, Dominion Energy and Enbridge co-announced that Dominion had agreed to sell the company’s remaining natural gas local distribution companies (LDCs) that Dominion owns to Enbridge for $14.0 billion, which includes $9.4 billion in cash plus the assumption of debt (see Dominion Energy Loses Mind – Sells Remaining LDC NatGas Businesses). The deal includes three LDCs — The East Ohio Gas Company, Public Service Company of North Carolina, and Questar Gas Company (along with Wexpro Company). The first of the three, the East Ohio Gas Company, officially changed hands yesterday. Of the $14 billion being spent for all three, East Ohio Gas represents $6.6 billion — roughly half.
Read More “Sale of East Ohio Gas Co. from Dominion to Enbridge Now Complete”
In 2019, the Rhode Island Energy Facility Siting Board waived a licensing requirement for a “temporary” LNG storage facility in Portsmouth to prevent another gas outage episode from happening again (see With “Backs Against Wall” Rhode Island Approves LNG Facility). Board members complained they had no choice, that “we have our backs against the wall” and “people’s lives could be in danger” if they didn’t approve the LNG facility. The “temporary” facility has remained operating since that time. Rhode Island Energy recently submitted a proposal to make the facility permanent instead of an ongoing temporary installation. The people who live nearby and for whom it keeps them warm in the winter oppose the plan. They prefer to freeze.
Read More “Rhode Island Neighbors Prefer Gas Outages to Permanent LNG Plant”
In January, we told you the State of Maine was actively considering a new law, L.D. 2077, that would prohibit natural gas companies from charging ratepayers for the construction and expansion of gas service mains and gas service lines beginning Feb. 1, 2025 (see Maine Debates Democrat Bill to Limit New Natural Gas Customers). Under the bill, business and residential customers who seek new gas mains and service lines would pay the entire cost to hook up for the service themselves. In other words, nobody would pay to connect (far too expensive), resulting in a de facto ban on connecting new customers for natural gas service. However, the bill’s language has been altered drastically to remove that provision and instead requires three different, separate studies of the issue.
Read More “Maine U-Turn: Bill Banning New Gas Hookups Changed to Study Issue”
Wow, does time fly! Exactly ten years ago, MDN reported that the Executive Director of the Delaware River Basin Commission (DRBC), Carol Collier (a hardened leftist), was retiring. In her place, the DRBC had selected Steve Tambini, then the vice president of operations at Pennsylvania American Water (see DRBC Selects Steve Tambini as New Leader, Enviro Groups Unsure). Big Green was unsure of Tambini and concerned about how he would lead the commission, which gave us hope he might be a good change. As it turned out, Big Green had nothing to worry about. Tambini turned out to be a patsy for their cause.
Read More “DRBC’s Disappointing Executive Director Steve Tambini is Retiring”
Permitting in Pennsylvania, especially permits overseen by the Dept. of Environmental Protection (DEP), has been broken for years. A Chapter 102 Erosion and Sedimentation permit sometimes takes two, three, or even six to eight months for approval — instead of the law-mandated 14 days. It got so bad that in the fall of 2019, PA State Sen. Gene Yaw introduced a bill to allow third-party reviews of these permits in an attempt to speed it up (see PA Sen. Yaw Intros Bill to Allow 3rd Party Review of Erosion Permits). In June 2023, then-DEP Sec. Rich Negrin told lawmakers at a Senate hearing that he was making good progress on his 10-point plan to speed up permits and cut down on red tape (see DEP Sec. Negrin Focused on Cutting Red Tape, Speeding New Permits). PA Gov. Josh Shapiro introduced a “money-back guarantee” on slow permits last November, which we exposed as bogus (see Shapiro’s DEP Money-Back Guarantee for Permit Delays is Bogus). The DEP says thanks to the guarantee and other changes, the agency is getting much better with turnaround times for permits.
Read More “PA DEP Claims Progress in Reducing Out-of-Control Permit Backlog”
MARCELLUS/UTICA REGION: Dominion Energy Charitable Foundation spring grant cycle now open; NATIONAL: John Kerry mocked as ‘climate clown’ for comments on Russia, Ukraine, and climate; U.S. natural gas futures fall on growing storage surplus; Industry groups pitch plenty of alterations to hydrogen’s ‘three pillars’; Saudi Aramco, UAE’s ADNOC in talks to invest in US LNG projects, sources say; U.S. oil, gas producers say President Biden ignores energy leadership; INTERNATIONAL: A series of uncommon events threatens Chevron buyout of Hess.
Read More “Other Stories of Interest: Fri, Mar 8, 2024”