Utica Shale

Range Resources CEO Says Marcellus, Utica Shales Vital to Stabilize Natural Gas Markets

Range Resources CEO Says Marcellus, Utica Shales Vital to Stabilize Natural Gas Markets

Range Resources Corp. is “in the best position in the company’s history” amid a tightly supplied global natural gas market, CEO Jeff Ventura said Tuesday. Fort Worth, TX-based Range is among the country’s largest natural gas producers, with nearly one million net acres in Pennsylvania targeting the Marcellus, Utica and Upper Devonian shale formations. “As…

October 26, 2022
U.S. Ethane Production Seen Climbing 16% in 2022, Says EIA

U.S. Ethane Production Seen Climbing 16% in 2022, Says EIA

Production of ethane, a natural gas liquid (NGL), should grow by about 9% in the United States during the second half of 2022 compared to first-half levels, according to an Energy Information Administration (EIA) forecast. “Ethane is consumed almost exclusively as a feedstock in petrochemical plants known as steam crackers to produce ethylene, a precursor…

August 31, 2022
EQT Achieves Certification for 4 Bcf/d of Appalachian Natural Gas Production

EQT Achieves Certification for 4 Bcf/d of Appalachian Natural Gas Production

EQT Corp. said 80% of its natural gas now holds the certified designation, giving it a potential leg up for premium pricing. The top natural gas producer in the United States, which produced an estimated 5.6 Bcfe/d during the third quarter,  said most of the Marcellus and Utica shale production achieved the certification label last…

January 18, 2022
Natural Gas Futures Steady in Rare Quiet Session Ahead of Expiration; Cash Rising

Natural Gas Futures Steady in Rare Quiet Session Ahead of Expiration; Cash Rising

Natural gas futures held onto the extensive gains they accumulated at the start of the holiday week, slipping only a few pennies on additional warming in the forecast. The January Nymex contract settled Tuesday at $4.055/MMBtu, off only a half-cent from Monday’s close. The February contract slipped 5.7 cents to $3.885. Spot gas prices gathered…

December 28, 2021
Natural Gas Rig Count Drops to 103 as GOM Activity Slows

Natural Gas Rig Count Drops to 103 as GOM Activity Slows

The U.S. natural gas rig count slipped one unit to 103 for the week ended Friday (July 30) as a pullback in the Gulf of Mexico (GOM) dragged the overall domestic tally lower, the latest data from Baker Hughes Co. (BKR) show. Declines in the United States also included two oil-directed rigs, leaving the combined…

July 30, 2021
U.S. Natural Gas Rig Count Up Two as GOM Activity Rises

U.S. Natural Gas Rig Count Up Two as GOM Activity Rises

The U.S. natural gas rig count rose two units to finish at 101 during the week ended Friday, a week that also saw a notable uptick in drilling activity in the Gulf of Mexico (GOM), according to updated data from oilfield services provider Baker Hughes Co. (BKR). Drilling gains in the United States for the…

July 9, 2021
CNX Still Sees Utica Shale in Longer-Term Growth Plan

CNX Still Sees Utica Shale in Longer-Term Growth Plan

CNX Resources Corp. got a lift from stronger first quarter commodity prices as it continued executing on a broader seven-year plan it laid out in 2020. The company said free cash flow (FCF), up for the fifth consecutive quarter, came in at $101 million. It has also increased its full-year FCF guidance to $450 million…

April 30, 2021
Southwestern Drills First Ohio Utica Well after Montage Acquisition

Southwestern Drills First Ohio Utica Well after Montage Acquisition

Appalachian pure-play Southwestern Energy Co. plans to keep year/year production and spending flat in 2021 even as it assumes a larger asset base and entry into Ohio with its acquisition of Montage Resources Corp. The exploration and production company laid out its vision for the year last week, joining peers in announcing a plan aimed…

March 3, 2021
Equitrans Cuts Guidance as Appalachian Producers Continue to Hunker Down

Equitrans Cuts Guidance as Appalachian Producers Continue to Hunker Down

Equitrans Midstream Corp. has significantly cut its 2021 financial forecast as Appalachian natural gas producers continue to curb spending and output. Equitrans, the third largest natural gas gatherer in the United States with operations in Ohio, Pennsylvania and West Virginia, this month cut its net income guidance for next year to $540-610 million. That’s down…

December 24, 2020
MVP Clears Major Permitting Hurdle as Forest Service Completes Supplemental Review

MVP Clears Major Permitting Hurdle as Forest Service Completes Supplemental Review

The U.S. Forest Service (USFS) has finalized a supplemental environmental review of the Mountain Valley Pipeline (MVP), a key step in resolving a permitting setback that has prevented construction on a small portion of the project routed through the Jefferson National Forest. Late last week, the USFS released a final supplemental environmental impact statement for…

December 14, 2020
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