Marcellus Shale

Coterra Curtailing Marcellus Completions, Cautiously Awaiting Stronger Natural Gas Prices 

Coterra Curtailing Marcellus Completions, Cautiously Awaiting Stronger Natural Gas Prices 

Houston-based Coterra Energy Inc. is shifting its near-term capital spending in the Lower 48 to focus on oil and liquids-rich plays, but optionality is still in play to take advantage of a “structural change in the natural gas macro” later this year, CEO Tom Jorden said. During the first quarter conference call, Jorden said caution…

May 7, 2024
MPLX Opens Door to Growth Opportunities in ‘Liquids-Rich’ Marcellus, Utica and Permian

MPLX Opens Door to Growth Opportunities in ‘Liquids-Rich’ Marcellus, Utica and Permian

MPLX LP management said two strategic transactions announced in the first quarter would open the door to growth opportunities in the Marcellus and Utica shales and the Permian Basin. During a conference call to discuss quarterly performance, CEO Michael Hennigan told analysts that exploration and production (E&P) companies are targeting liquids-rich acreage in the Northeast.…

May 2, 2024
U.S. Natural Gas Count Eases to 105; Oil Rigs Down Five, BKR Data Show

U.S. Natural Gas Count Eases to 105; Oil Rigs Down Five, BKR Data Show

The U.S. natural gas rig count eased one unit lower to 105 for the week ended Friday (April 26), while a decline of five oil-directed rigs dropped the combined domestic tally six units week/week to 613, according to updated numbers from Baker Hughes Co. (BKR). The 105 active natural gas rigs in the United States…

April 26, 2024
Range Resources Sees Strong Natural Gas Demand, Keeps Production Steady

Range Resources Sees Strong Natural Gas Demand, Keeps Production Steady

Range Resources Corp. kept natural gas production steady through the first quarter, even as others pulled back, and it expects to maintain the same pace through 2024. The Appalachian Basin pure play’s executives reiterated to analysts during a call to discuss first quarter earnings on Wednesday that they intend to hold output flat this year.…

April 25, 2024
Coterra Halving Marcellus Spending, but Ready to Pivot for Natural Gas Price Recovery

Coterra Halving Marcellus Spending, but Ready to Pivot for Natural Gas Price Recovery

Coterra Energy Inc. is “throttling back on operations” in the Marcellus Shale to start 2024, but management is “highly optimistic on the 12- to 18-month outlook” for natural gas as LNG facilities come online, CEO Tom Jorden said.  The Houston-based independent plans to decrease capital expenditures (capex) in 2024 by 12% year/year to $1.75-1.95 billion…

February 23, 2024
Natural Gas Drilling Rises in U.S. as Haynesville, Marcellus Add Rigs, BKR Data Show

Natural Gas Drilling Rises in U.S. as Haynesville, Marcellus Add Rigs, BKR Data Show

Led by gains in both the Haynesville and Marcellus shales, the U.S. natural gas rig count advanced to 121 for the week ended Friday (Feb. 9), up four rigs for the period, according to the latest tally from Baker Hughes Co. (BKR). Total U.S. oil-directed rigs were unchanged week/week at 499, and the combined domestic…

February 9, 2024
Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling permits in the natural gas-rich Marcellus, Utica and Haynesville shale plays showed strong month/month growth in December 2023 but remained 16% below the December 2022 total, according to the latest tally by Evercore ISI. The three formations, which together supply about 53% of Lower 48 gas output, had a combined issued permit count of…

January 30, 2024
Natural Gas Rig Count Eases Lower as Oil Drilling Powers Domestic Activity Gains

Natural Gas Rig Count Eases Lower as Oil Drilling Powers Domestic Activity Gains

The U.S. natural gas rig count slid one unit to 116 for the week ended Friday (Dec. 1), while gains in the oil patch lifted the overall domestic count to 625, according to the latest figures from Baker Hughes Co. (BKR). Changes in the United States for the period included the addition of five oil-directed…

December 1, 2023
Natural Gas Count Up Three in U.S. as Marcellus, Haynesville Pick Up Rigs

Natural Gas Count Up Three in U.S. as Marcellus, Haynesville Pick Up Rigs

The U.S. natural gas drilling count rose three units to 117 for the period ending Wednesday (Nov. 22) as the Haynesville and Marcellus shales picked up rigs, Baker Hughes Co. (BKR) data show. Oil-directed drilling was unchanged at 500 rigs in the United States for the period, while the addition of one miscellaneous unit helped…

November 22, 2023
Coterra Eyeing Anadarko Natural Gas as Gulf Coast LNG Supply Source

Coterra Eyeing Anadarko Natural Gas as Gulf Coast LNG Supply Source

Faster cycle times and strong well productivity drove a production beat for multi-basin independent Coterra Energy Inc. during the third quarter, a performance that led the explorer to increase guidance for the year.  The Houston-based exploration and production (E&P) giant, which works in the Anadarko and Permian basins, as well as the Marcellus Shale, expects…

November 13, 2023
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