Marcellus Drilling News

Energy Services | Summit Midstream

Summit Midstream 2Q: Volumes Up Some, Profits Down Some
August 10, 2021August 10, 2021

Summit Midstream Partners, formed in 2009 and headquartered in The Woodlands, Texas, operates natural gas, crude oil, and produced water gathering (pipeline) systems in several unconventional shale plays, including the Marcellus and Utica. Last week Summit issued its second quarter 2021 update. The company’s Utica Shale segment continued to be the star performer. Flows through the company’s pipeline system are up, although revenues were down slightly from the same period a year ago.
Read More “Summit Midstream 2Q: Volumes Up Some, Profits Down Some”
Energy Companies | Energy Corporation of America | Greylock Energy

ECA Marcellus Trust I Gives Investors 2.8 Cents per Unit in 2Q21
August 10, 2021August 10, 2021

ECA Marcellus Trust I, traded over-the-counter on the pink sheets, canceled distributions (dividends) to investors for the first three quarters of 2020 due to the pandemic and the crash in oil and gas prices. The company restarted paying dividends in 4Q20–a grand total of 9/10ths of one penny per unit (see ECA Marcellus Trust I Gives Investors <1 Penny per Unit in 4Q20). In 1Q21 ECA increased its distribution to 3.1 cents per unit (see ECA Marcellus Trust I Gives Investors 3.1 Cents per Unit in 1Q21). Last quarter, 2Q21, ECA decreased the payout again, down to 2.8 cents per unit.
Read More “ECA Marcellus Trust I Gives Investors 2.8 Cents per Unit in 2Q21”
Allegheny County | Elk County | Energy Companies | EQT Corp | Greene County (PA) | Pennsylvania | Seneca Resources | Washington County | Weekly Permits

Weekly Shale Drilling Permits for PA, OH, WV: Aug 2-8
August 10, 2021August 10, 2021

Last week only Pennsylvania issued permits to drill new shale wells. Both Ohio and West Virginia issued no new drilling permits. Summer doldrums? Some 8 of the 11 permits issued in PA were to Seneca Resources, all of them in Elk County, and 7 of the 8 were for the same well pad. The other 3 permits were issued to EQT in three different counties.
Read More “Weekly Shale Drilling Permits for PA, OH, WV: Aug 2-8”
Best of the Rest

Other Stories of Interest: Tue, Aug 10, 2021
August 10, 2021August 10, 2021

MARCELLUS/UTICA REGION: The Shell cracker plant is a boon for business; OTHER U.S. REGIONS: Tellurian says talks with banks underway for $12 billion Driftwood LNG project; Maintenance cuts natural gas pipeline flows to US Southwest as strong prices persist; NATIONAL: Natural gas to prove far more resilient than coal amid energy transition; Late summer natural gas prices hit multi-year highs; CO2 users face supply issues, higher prices as carbon sequestration grows; Granholm says we have to ‘go after’ methane from natural gas and ‘pressure’ Russia to do same; INTERNATIONAL: US solar panels rely on Chinese forced labor and coal.
Read More “Other Stories of Interest: Tue, Aug 10, 2021”
Industrywide Issues | Lease & Royalty Payments | Pennsylvania | Regulation | Statewide PA

New PA Bill Defines Word “Royalty” – Doesn’t Change Contracts
August 9, 2021August 9, 2021

A new bill just introduced in the Pennsylvania House by State Rep. Eric Davanzo (Republican from Westmoreland County), House Bill (HB) 1763, clears up the confusion and bastardization of the term “royalty,” making it easy for everyone to know what can and cannot be deducted from royalties with respect to oil and gas leases. Davanzo got 23 of his fellow House members to co-sponsor the bill. It is a refreshingly simple bill that does not change any existing contracts. It defines the point to establish the value of gas (or oil) as that point when it is sold to an unrelated third-party purchaser. Simple!
Read More “New PA Bill Defines Word “Royalty” – Doesn’t Change Contracts”
Energy Companies | Seneca Resources

Seneca FY3Q: More Drilling to Fill New Pipeline Capacity
August 9, 2021August 9, 2021

Last Friday National Fuel Gas Company (NFG), the parent company for Seneca Resources and Empire Pipeline, issued its latest quarterly update for the quarter ending June 30 (NFG’s third fiscal quarter, everyone else’s second quarter). The exciting news from the update is that with two pipeline projects getting completed this year, Seneca Resources is ramping up its Marcellus/Utica drilling program to take advantage of selling more gas at higher prices.
Read More “Seneca FY3Q: More Drilling to Fill New Pipeline Capacity”
Energy Companies | Gulfport Energy

Gulfport 2Q: New Board, New Leadership, “Lumpy” Production
August 9, 2021August 9, 2021

Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May with a new board and new top management (see Gulfport Energy Emerges from Bankruptcy w/New Board, CEO/CFO Gone). Gulfport’s new management issued its first quarterly update on Friday. The company’s new focus, at least for the next year: Keep production steady at 1 Bcf/d (billion cubic feet per day), and keep spending for drilling even at $300 million per year.
Read More “Gulfport 2Q: New Board, New Leadership, “Lumpy” Production”
Anti-Drilling/Fossil Fuel | Crime | Energy Services | Equitrans/EQT Midstream | Greenbrier County | Industrywide Issues | Pipelines | West Virginia

Two Kids Arrested for Blocking MVP Pipeline Construction in WV
August 9, 2021August 9, 2021

Protesters arrested (credit: WOAY-TV)

Two out-of-state anti-fossil fuel protesters, one just a girl of 19 years old, were arrested Friday morning after they chained themselves to equipment at a construction site for the 303-mile Mountain Valley Pipeline (MVP) in Greenbrier County, WV. Anna Grace Woolly, 19, of Viles, NC, and Thomas George Tackett, 25, of Jackson, MO were arrested and charged with trespassing, obstructing an officer, and conspiracy.
Read More “Two Kids Arrested for Blocking MVP Pipeline Construction in WV”
Industrywide Issues | Storage

More Natural Gas Storage is Needed – Will We Get It?
August 9, 2021August 9, 2021

Types of underground natgas storage (click for larger version)

There are a number of factors that influence the availability and price of natural gas. Without a doubt, the #1 factor in gas prices is the weather. Another factor not often discussed is storage. Natural gas is stored mainly in large underground caverns during the “summer” months (called “injection season,” April through October). Natgas is later withdrawn for use during the “winter” months (“heating” or “withdrawal” season, November through March). RBN Energy takes a look at this often overlooked aspect of the industry, providing a quick history of natural gas storage and making predictions about a possible coming storage expansion.
Read More “More Natural Gas Storage is Needed – Will We Get It?”
Electrical Generation | Industrywide Issues | Regulation | Taxation

Fed “Clean Electricity Standard” New Carbon Tax on Power Plants
August 9, 2021April 20, 2022

Get ready for another body blow from the radical Democrats who now run the country (Biden & Congress). They are preparing to slip a noose around the neck of natural gas-fired power plants with their upcoming so-called “reconciliation” bill in which they plan to reward big donors and radicalized environmentalists by destroying the coal and gas-fired power plant industry. The way they plan to do it is to introduce a so-called “clean electricity standard” (CES) in the reconciliation bill. It’s new language (new lipstic) on the same old pig of fossil fuel hatred. The bill contains a carbon tax applied specifically to fossil fuel plants that produce electricity. Sound familiar? PA Gov. Tom Wolf is trying this in his state with the Regional Greenhouse Gas Initiative (RGGI). The new federal bill in essence forces the equivalent of RGGI on all states everywhere. DON’T LET IT HAPPEN. RESIST!
Read More “Fed “Clean Electricity Standard” New Carbon Tax on Power Plants”
Best of the Rest

Other Stories of Interest: Mon, Aug 7, 2021
August 9, 2021August 9, 2021

MARCELLUS/UTICA REGION: Natural gas extension – critical Bluefield project up for federal funding; Schumer joins environmentalists in denouncing Brooklyn natural gas pipeline; NATIONAL: Steamy summer drives big gains for weekly spot natural gas prices; The U.S. maintains its natural gas dominance; Carbon-neutral cargoes of LNG and other hydrocarbons; Shale giants hit hard by poor hedging decisions; INTERNATIONAL: To save the planet, focus on cutting methane – U.N. climate report; Exxon Mobil suspended from climate advocacy group; Chinese firms seek LNG cargoes, demand is strong.
Read More “Other Stories of Interest: Mon, Aug 7, 2021”
Energy Services | Energy Transfer Partners | Industrywide Issues | Pennsylvania | Pipelines | Statewide PA

Energy Transfer: Mariner East Volumes Up in 2Q, Project Done in 4Q
August 6, 2021August 6, 2021

click for larger version

Remember Winter Storm Uri, the big storm that knocked out power and halted the distribution of natural gas in Texas in February? It led to the highest prices for natural gas ever seen–in some cases over $1,000/MMBtu (see Cash NatGas Price in Oklahoma Hits $999/MMBtu; M-U Thru Roof Too). The storm was a disaster for many people, but not for pipeline giant Energy Transfer (ET). During ET’s second quarter update, company officials said Uri netted the company an extra $2.4 billion in revenue. But it’s not Uri nor frankly other regions of the country we’re concerned with when it comes to ET. The main thing we want to know about is the status of finishing up ET’s Mariner East 2 (ME2) pipeline project.
Read More “Energy Transfer: Mariner East Volumes Up in 2Q, Project Done in 4Q”
Bradford County | Chesapeake Energy | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Pennsylvania

Chesapeake Energy Uses Halliburton E-Fracking in NEPA Marcellus
August 6, 2021August 6, 2021

VoltaGrid – Chesapeake Energy Pad – Wyalusing, PA

Halliburton is reporting it used an “advanced” electric fracking solution for the first time (partnering with VoltaGrid) on a Marcellus well pad in Bradford County, Pennsylvania for Chesapeake Energy. This project is the first pad in a multi-year contract with Chesapeake. What makes this e-fracking “advanced”? Halliburton joined its massive Zeus 5,000 horsepower electric pumping unit with VoltaGrid’s advanced power generation system. The combo is the first pairing of the two.
Read More “Chesapeake Energy Uses Halliburton E-Fracking in NEPA Marcellus”
Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | M&A

Cimarex Talks About Cabot Merger on 2Q Conference Call
August 6, 2021August 6, 2021

click for larger version

In May MDN told you about one of the oddest combinations in recent memory–the merger of Permian driller Cimarex Energy with Marcellus driller Cabot Oil & Gas (see HUGE NEWS: Permian Driller Cimarex Buying Out Cabot Oil & Gas). Given the negative reaction by stock analysts and investors, we had hoped maybe the deal would fall apart (see Markets “Baffled” by “Unexpected” Cabot Merger with Cimarex). Cimarex delivered its 2Q21 update yesterday and judging from the talk on the conference call with analysts, the deal is still very much on and will close later this year.
Read More “Cimarex Talks About Cabot Merger on 2Q Conference Call”
Anti-Drilling/Fossil Fuel | CNG/LNG | Industrywide Issues | Long Island | New York | Trucking

Antis Get Judge to Block Brooklyn LNG Truck Depot – Shortage Coming
August 6, 2021August 6, 2021

MDN previously told you about so-called environmentalists filing a lawsuit to block the construction of an LNG unloading facility in Greenpoint, Brooklyn (see NYC Antis Sue to Block Brooklyn LNG Truck Depot – Shortage Coming). National Grid, a huge utility company that supplies natural gas to all of Long Island, including two New York City boroughs (Queens and Brooklyn), needs a way to inject more natural gas into its distribution system…or else. The radicals have somehow convinced a low-level judge to temporarily block construction at the Greenpoint site.
Read More “Antis Get Judge to Block Brooklyn LNG Truck Depot – Shortage Coming”
Anti-Drilling/Fossil Fuel | Industrywide Issues | Lycoming County | Pennsylvania

FracTracker Lies Exposed re Fracking Impacts on PA Watershed
August 6, 2021August 6, 2021

FracTracker Alliance, a virulent leftist group that pretends to offer up science about fracking but instead offers demonstrably false lies about fracking, has just been exposed for the frauds they are. The FracTracker Alliance recently released a report (a “digital atlas”) supposedly showing the harmful impacts of natural gas development in the Lycoming Creek Watershed, located primarily in Lycoming County, PA. It’s a complete fraud and sham, financed by Big Green money. The Marcellus Shale Coalition (MSC) is not letting the fraudsters get away with it.
Read More “FracTracker Lies Exposed re Fracking Impacts on PA Watershed”