Appalachia

The Solicitor General has filed an amicus brief supporting the PennEast Pipeline’s petition for the U.S. Supreme Court to hear its case against New Jersey’s efforts to stop the project from condemning state-owned land.  Acting Solicitor General Jeffrey B. Wall said the certificate of public convenience and necessity issued to PennEast by FERC “expressly” allows…

Boosted by a colder look to forecasts for early December, natural gas futures extended their recent gains in early trading Tuesday. The December Nymex contract was up 5.5 cents to $2.766/MMBtu at around 8:40 a.m. ET. January was up 6.3 cents to $2.886. After “not being quite as bearish” in Monday’s runs, the weather data…

For all the intraweek volatility in the natural gas forward markets, prices ultimately capped the Nov. 5-11 period moderately higher as chilly weather crept back into the long-range forecast, according to NGI’s Forward Look. Although it’s still unclear whether the cold lasts, Appalachia markets rallied sharply as the expected drop in temperatures coincided with a…

Appalachian pure-plays Cabot Oil & Gas Corp. and Southwestern Energy Co. said Friday they’ plan to hold the line on spending and keep production roughly flat with this year’s levels in 2021.  “Despite the expectation for higher price realizations and cash flow in 2021, our capital allocation priorities remain focused on maintaining our current production…

Appalachian pure-play CNX Resources Corp. indicated Thursday that a merger with any of its peers is likely out of the question when measured against current performance and the value it’s likely to create in the coming years.  “You’re going to need to find someone who is not going to weaken or dilute our best in…

Little is expected to change this election season at the local and state level for the Appalachian Basin’s energy sector, where there are few close races and no major ballot initiatives impacting oil and gas.  Unlike in years past, there are no high profile clashes for state legislatures, governors’ offices or closely watched referendums for…

EQT Corp. has once again curtailed Appalachia natural gas production, taking around 425 MMcf/d net output offline Sept. 1, the company said last week. The move to cut production, announced at the Barclays CEO Energy-Power Conference, came less than two months after the largest natural gas producer in the United States brought back online 1.4…

Southwestern Energy Co. agreed to acquire Montage Resources Corp. in an all-stock deal that would create the third largest oil and natural gas producer in the Appalachian Basin, with 3 Bcfe/d of combined production.  The deal is valued at $857 million, including debt, according to Raymond James & Associates Inc. It would give the Houston-based…

Seneca Resources Co. LLC cut its drilling program to one rig in June and continues to curtail Appalachian spot market production as it has for most of its fiscal year because of low natural gas prices. Seneca, National Fuel Gas Co.’s (NFG) upstream affiliate, curtailed 7.3 Bcf production during the fiscal third quarter (3Q2020) “due…