Utica Shale

Haynesville Shale exploration and production (E&P) companies are biding their time and keeping an eye on forward natural gas prices in anticipation of more LNG takeaway by 2025, DT Midstream Inc. (DTM) CEO David Slater said Tuesday. During the conference call to discuss second quarter results, Slater said the Detroit-based company is “observing moderating production…

Privately-held Ascent Resources Utica Holdings LLC, Ohio’s largest natural gas producer, is joining its publicly-traded peers in keeping production and activity flat this year as the commodity outlook has softened. Ascent, also one of the nation’s largest private natural gas producers, is guiding for 2-2.1 Bcfe/d of production in 2023, in line with the 2.1…

Natural gas is officially labeled “green” in Ohio after Gov. Mike DeWine earlier this month signed House Bill (HB) 507 into law, though the green stamp may not carry much legislative weight for funding or regulations, according to the governor’s office.  HB 507 passed the Ohio Senate last month, with the primary goal of ensuring…

Pennsylvania natural gas production from horizontal wells totaled 1.88 Tcf or 20.6 Bcf/d in the third quarter, down 0.8% from the third quarter of 2021, according to data from the state’s Department of Environmental Protection (DEP). This marks the third straight quarter in which output did not rise on a year/year (y/y) basis, DEP said,…

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…

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…

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…

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…

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…