Marcellus

MPLX LP management said its 2024 growth outlook is anchored in the Permian Basin and Marcellus Shale, which provide steady sources of opportunities, particularly around natural gas and natural gas liquids (NGL) assets. It also sees potential in the Utica Shale. “We plan to continue growing these operations through organic projects, investment in our Permian…

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…

EQT Corp., the nation’s largest natural gas producer, said in a regulatory filing that it expects to spend more this year than in 2023 In preliminary fourth quarter results filed in a Form 8K with the U.S. Securities and Exchange Commission on Wednesday, EQT said it expects capital expenditures of $2.15-2.35 billion in 2024. That…

Diversified Energy Co. plc has sold a sliver of its Appalachian Basin natural gas wells for around $230 million to a holding company to reduce debt, but it said it would continue to operate the assets. The Alabama-based gas producer sold the wells to DP Lion Equity Holdco LLC, with Diversified retaining a 20% minority…

Chesapeake Energy Corp. and Southwestern Energy Co., longtime rivals for control in the Lower 48 natural gas patch, agreed to merge Thursday in a combination valued at $7.4 billion, bringing together their estimable resources in Appalachia and the Haynesville Shale. Total natural gas production, which comprises 92% of the combined output, was 7.9 Bcfe/d net…

Mountain Valley Pipeline LLC (MVP) is revamping its proposed Southgate extension, reducing its length, cutting down on the number of water crossings and bypassing the need for a previously planned compressor station, the operator told regulators. In filings late last week with FERC and the Securities and Exchange Commission, MVP said it entered into precedent…

Pennsylvania collected $174 million in impact fees from unconventional natural gas producers in 2023, a decrease from previous years because of lower natural gas prices and fewer wells, according to an estimate from the state’s Independent Fiscal Office (IFO).  The IFO last week issued the 2023 Impact Fee Estimate, which relies on preliminary natural gas…

Natural gas production from seven key Lower 48 regions is set to ease lower from December to January as declines from the Haynesville Shale and the Appalachian Basin overshadow Permian Basin gains, according to the latest modeling from the U.S. Energy Information Administration (EIA). EIA’s updated Drilling Productivity Report (DPR), which also models production trends…

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…