Appalachia-focused natural gas producer Diversified Energy Co. plc on Friday announced its second transaction in as many months to expand into a different gassy region of the United States. Birmingham, AL-based Diversified said it has entered into a conditional agreement to acquire upstream assets in the Barnett Shale of North Texas from Blackbeard Operating LLC…
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Pennsylvania Reports Resurgence in Natural Gas Prices, Production in Early 2021
Natural Gas production and prices in Pennsylvania both rebounded sharply during the first quarter after a pandemic-induced slump in 2020, according to a new report by the state’s Independent Fiscal Office (IFO). Gas production from horizontal wells totaled 1,863 Bcf during 1Q2021, up 5.4% year/year (y/y), researchers said. The report, based on data compiled by…
Appalachia’s Northeast Natural Aiming to Certify Natural Gas as Responsibly Sourced
Privately held Northeast Natural Energy (NNE) plans to have natural gas production across its entire operating area in West Virginia environmentally certified by two companies. Certification would be based on separate standards developed by Equitable Origin (EO) and MiQ to validate it is producing what the industry has coined as “responsibly” sourced gas production. If…
Chesapeake Looking to Build Lower 48 Natural Gas Supply, Searching for New CEO
Oklahoma City-based Chesapeake Energy Corp. expects to up the natural gas mix in its production portfolio to 85% in 2022 from 77%, executives said Wednesday in the first quarter earnings call. The recently restructured company expects its gas production to hit 715-735 Bcf this year. Capital expenditures are set at $670-740 million, executives said. At…
Antero Warns of Winter Propane Shortages Without Adequate Stock Builds
Executives at Appalachian pure-play Antero Resources Corp., the nation’s second largest natural gas liquids (NGL) producer, are warning that without an adequate build in propane inventories through the fall, the world would be undersupplied this winter. “U.S. domestic propane buyers will need to outbid export markets this summer to build sufficient inventories for this upcoming…
Appalachian Natural Gas, Coal Produce Most Methane in U.S., Kayrros Says
New measurements released last week by Kayrros quantifying emissions across the Appalachian Basin show the region is the biggest source of methane in the United States. Kayrros, which uses satellites and other methods to track emissions, said methane from Appalachia exceeds even the country’s most active oil and gas fields in the Permian Basin. But…
Pennsylvania Operator Acquiring Three Small Appalachian Natural Gas Producers
American Energy Partners Inc. said this week that it would acquire three oil and natural gas producers in western Pennsylvania and West Virginia in a deal valued at nearly $11 million. The Allentown, PA-based company, traded over the counter, said it would acquire 100% of the stock and units of the three undisclosed companies. “This…
Northern Access Natural Gas Pipeline Project Inches Forward After Big Court Win
The long-delayed Northern Access expansion project, which would move more natural gas out of Appalachia, cleared a major legal obstacle Tuesday when a federal appeals court found New York state regulators waived their authority to issue a crucial water quality certification (WQC) for the pipeline. The U.S. Court of Appeals for the Second Circuit upheld…
FERC Upholds MVP Construction Authorization in 3-2 Vote
A split FERC on Wednesday upheld a recent decision to allow Mountain Valley Pipeline LLC (MVP) to partially resume construction near national forest lands, denying a stay request filed by a coalition of environmental groups. Divided three to two along party lines, the Federal Energy Regulatory Commission rebuffed efforts to overturn a December order allowing…
Ascent Resources to Curb Utica Spending, Stay Disciplined in 2021
Ascent Resources Utica Holdings LLC, Ohio’s largest oil and natural gas producer, plans to cut spending this year and hold production flat to 2020 levels as the industry continues to take a more conservative financial approach. The Ohio pure-play has issued 2021 capital guidance at a range of $550-600 million and intends to maintain production…