Marcellus/Utica Fracker FTS Intl Filing for Ch. 11 Bankruptcy

Once upon a time FTS International was the largest private (not publicly traded stock) well completion company in North America. In 2015 FTS fracked EQT’s ginormous Scotts Run 591340 dry Utica well in Greene County, PA producing an initial production (IP) of 72.9 million cubic feet of natural gas per day (see Private Company Fracked EQT’s Monster Utica Well, Working on More). In 2017 the company went public (see Fracker FTS International Gets Ready to Launch IPO). Yesterday FTS announced it has reached an agreement with its debtors and will file for Chapter 11 bankruptcy in the coming weeks.
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A group of far-left, so-called environmental groups, including, Earthjustice, Buckeye Environmental Network, Concerned Ohio River Residents, Freshwater Accountability Project, Ohio Valley Environmental Coalition and the Sierra Club, are suing the Ohio Department of Natural Resources (ODNR) in an attempt to overturn permits issued by ODNR to build an underground NGL storage hub in Monroe County, Ohio.
While drilling in Chester County in the Marsh Creek State Park two weeks ago, Energy Transfer’s Mariner East 2X pipeline experienced an “inadvertent return”–nontoxic drilling mud coming up out of the ground where it’s not supposed to (see
Eureka Resources, which operates three frack wastewater treatment facilities in the Marcellus Shale, is doing some really cool stuff. Last October the company began extracting lithium from Marcellus wastewater at one of its plants in Bradford County, PA (see
FirstEnergy Solutions (now called Energy Harbor) allegedly paid $60 million in bribes to (now former) Ohio House Speaker Larry Householder and four of his associates to gain their assistance in passing the hugely unpopular House Bill 6 (see
MARCELLUS/UTICA REGION: Sen. Yaw among state, national leaders pledging to keep country dominant natural gas producer; Health care providers request governor, DOH to ‘better protect Pennsylvanians from the health effects of shale gas development’; NATIONAL: Storm-related production decline boosts natural gas futures; Lower 48 E&P universe forecast to shrink, ‘starved for capital’ as liquidity dries up; Summit Midstream Partners appoints James Johnston EVP, General Counsel & Chief Compliance Officer; U.S. LNG as swing supply amid shifting global market balance; Adapt or die: oilfield services sector seeks ways to weather difficult market.
CNX was fracking their Shaw 1G Utica well in Washington Township (Westmoreland County) in early 2019 when they detected “a strong drop in pressure” and stopped fracking (see
Last Thursday Pennsylvania’s Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report–for April through June 2020 (full copy below). The report shows natgas production in PA rose 2.8% compared to the same period last year. However, overall production fell 2.8% compared to 1Q20–the second quarter in a row production has fallen quarter-over-quarter.
Last December both Rover Pipeline and NEXUS Pipeline, two large Utica-gas pipelines traversing Ohio, appealed their property tax valuations to the Ohio Dept. of Taxation, looking to trim their tax bills in Stark County by up to 50% (see
Two weeks ago while drilling in Chester County in Marsh Creek State Park, Energy Transfer’s Mariner East (ME) 2X pipeline experienced an “inadvertent return”–nontoxic drilling mud coming up out of the ground where it’s not supposed to (see 
MDN is taking today off. For a couple of reasons. One is a vacation day. The other is that we recently (overnight) updated the site to the latest version of WordPress, the software we use to run the site.
Pittsburgh-based IntegrServ, a trucking company partly owned by former Pittsburgh Steeler Jerome Bettis, filed a federal lawsuit yesterday against EQT claiming discrimination against the company as a minority-owned company after it canceled a contract worth some $66 million last year. This is an involved story and of course, there are always two sides to every story (and two sides to every lawsuit).
Peregrine Energy Partners, headquartered in Dallas, Texas, continues a program to buy royalty rights in the Marcellus/Utica. Peregrine announced yesterday the company has cut a deal to buy “producing royalties in Doddridge County, West Virginia from several private sellers.” The private sellers are landowners/rights owners with wells drilled by Antero Resources and Jay-Bee Oil & Gas. No details on how much the deal was for.