Marcellus

The chief of Ohio’s largest natural gas producer sees plenty of running room in the Utica Shale, a play he said is not yet fully delineated or being developed to its maximum potential.

Cabot Oil & Gas Corp. during the first quarter saw the benefits of additional natural gas takeaway capacity and other local demand sources that came online late last year, realizing its best differential since early 2013.

A sharp decline in the Marcellus Shale spurred a retreat in the overall U.S. rig count during the week ended April 12, as the total number of domestic rigs fell to 1,022, according to data from Baker Hughes, a GE Company (BHGE).

The United States added four natural gas rigs to reach 194 units during the week ended Friday (April 5), while oil activity saw a sharp rebound following recent declines, according to data from Baker Hughes, a GE Company (BHGE).

While some producers and midstreamers have shifted their focus from the Marcellus and Utica shales to oilier, more lucrative plays, pipeline giant Williams is expanding its Appalachian position by purchasing with the Canada Pension Plan Investment Board (CPPIB) the remaining 38% stake in Utica East Ohio (UEO) Midstream.

Equitrans Midstream Corp. said Thursday that it has reached a deal with Morgan Stanley Infrastructure Partners to acquire two midstream systems in the Appalachian Basin for $1.03 billion, marking its first strategic transaction since it separated from EQT Corp. late last year.

Unconventional natural gas production in Ohio exceeded 2 Tcf for the first time last year, as volumes set another record in the fourth quarter, according to new state data.

Houston-based Encino Energy LLC last month took over drilling and completion operations on a massive Utica Shale position in Ohio that it acquired late last year in a $2 billion deal from the play’s pioneer Chesapeake Energy Corp., with plans for steady growth in the state as it works to make the assets its own.

Cabot Oil & Gas Corp. on Friday said exploratory efforts in north-central Ohio, where it has been working over the last two years to breathe new life into old oilfields with unconventional drilling, would end because of poor results.