Marcellus

Texas and California Oil, Gas Permitting Turns South in May

Texas and California Oil, Gas Permitting Turns South in May

The U.S. drilling permit count reversed by 23% in May month/month and was down 3% from a year ago, Evercore ISI said in its latest summary of nationwide data. The energy analyst firm each month compiles oil and gas permitting figures using state and federal data.  April permitting had bounced up by double digits from…

June 10, 2021
Natural Gas Futures Slip on More Cooler Changes to Forecast, LNG Maintenance

Natural Gas Futures Slip on More Cooler Changes to Forecast, LNG Maintenance

Natural gas futures opened the week lower as a trifecta of bearish factors, including a large drop in export feed gas demand, brought prices down a couple of notches. The July Nymex gas futures contract fell 2.7 cents to $3.070. August fell 2.5 cents to $3.089. Spot gas prices were higher, however, as heat blanketed…

June 7, 2021
Southwestern and Indigo Combining Appalachia, Haynesville Natural Gas Assets in ‘Perfect Recipe for Success’

Southwestern and Indigo Combining Appalachia, Haynesville Natural Gas Assets in ‘Perfect Recipe for Success’

Southwestern Energy Co. is moving beyond the Appalachian Basin to expand its natural gas opportunities with a $2.7 billion takeover of Haynesville Shale pure-play Indigo Natural Resources LLC. The Houston independent, a Lower 48 pioneer in unconventional drilling techniques, said the merger would boost production to 4 Bcfe/d, 85% weighted to natural gas. Indigo, which…

June 2, 2021
U.S. Drops One Natural Gas Rig; Oil Count Climbs

U.S. Drops One Natural Gas Rig; Oil Count Climbs

The U.S. natural gas rig count fell one unit to 98 for the week ended Friday (May 28), including a decline in drilling activity in the Northeast, according to updated figures published by Baker Hughes Co. (BKR). The addition of three oil-directed rigs in the United States offset the decline in natural gas drilling to…

May 28, 2021
Oil Count Up, Natural Gas Down as U.S. Adds Two Rigs in Latest Tally

Oil Count Up, Natural Gas Down as U.S. Adds Two Rigs in Latest Tally

A mix of gains and losses in the U.S. onshore, including an uptick in the Permian Basin and a drop in the Marcellus Shale, saw the domestic rig count finish at 457 units as of Friday (May 28), up two week/week, according to Baker Hughes Co. (BKR). The addition of three oil-directed rigs in the…

May 28, 2021
Cimarex, Cabot Combination ‘Building an Ark, Not a Party Boat’ in Lower 48 Oil, Natural Gas

Cimarex, Cabot Combination ‘Building an Ark, Not a Party Boat’ in Lower 48 Oil, Natural Gas

Cimarex Energy Co. and Cabot Oil & Gas Corp. on Monday agreed to combine in an all-stock merger, tying together their extensive operations in the Marcellus Shale, Permian and Anadarko basins. Denver-based Cimarex controls 560,000 net acres combined in the Permian and Anadarko, while Houston-based Cabot has 173,000 net acres in the Marcellus. Cabot CEO…

May 24, 2021
U.S. Oil, Gas Drilling Permitting Jumps by Double Digits in April, with Strength in DJ, Marcellus

U.S. Oil, Gas Drilling Permitting Jumps by Double Digits in April, with Strength in DJ, Marcellus

The U.S. onshore drilling permit count bounced up during April, both month/month (m/m) and compared with a year earlier, with double-digit growth in many major plays. According to the monthly compilation by Evercore ISI, permitting in April jumped 19% from March and was up 13% from April 2020.  The Denver-Julesburg (DJ) Basin in Colorado “experienced…

May 15, 2021
Northern Oil Grows Output as More Bakken Curtailments Eased

Northern Oil Grows Output as More Bakken Curtailments Eased

Lower 48 producer Northern Oil & Gas Inc. saw its 1Q2021 output climb over the previous three months as more curtailments were eased in the Bakken Shale and well productivity improved. The company, which has positions in the Bakken, the Marcellus Shale and the Permian Basin, reported overall production of 38,417 boe/d for the first…

May 11, 2021
Seneca Reports Big Jump in Natural Gas Production From New Pennsylvania Assets

Seneca Reports Big Jump in Natural Gas Production From New Pennsylvania Assets

Seneca Resources Co. LLC’s acquisition of the Royal Dutch Shell plc Pennsylvania assets last year helped drive a significant gain in fiscal second quarter production volumes.  Seneca last July closed on a deal to acquire 450,000 net acres across the state including 350 producing Marcellus and Utica shale wells in Tioga County. Seneca, a subsidiary…

May 11, 2021
EQT Enters Northeast Pennsylvania in $2.9B Deal for Alta’s Marcellus Assets

EQT Enters Northeast Pennsylvania in $2.9B Deal for Alta’s Marcellus Assets

EQT Corp. agreed Thursday to acquire Alta Resources Development LLC in a $2.9 billion deal that would add another 300,000 net Marcellus Shale acres and give it entry into Northeast Pennsylvania.  The nation’s largest natural gas producer said the acquisition would push its volumes to 5.6 Bcfe/d from 4.6 Bcfe/d. Once completed, the company would…

May 6, 2021