Marcellus

A quartet of Marcellus and Utica shale producers has signed up for all of the capacity — 550,000 Dth/d — on what would be a new pipeline route out of Ohio to the Gulf Coast.

Shale gas picked up some kudos in the prepared speech Pennsylvania Gov. Tom Corbett delivered Tuesday to discuss his proposed $29.4 billion budget, but no mention was made of controversies surrounding it, such as a possible severance tax or the ongoing legal battle over Act 13, the state’s omnibus Marcellus Shale law.

Antero Resources Corp. continues to grow its holdings in the Appalachian Basin, reinforcing its position as one of the region’s most active drillers by reporting on Tuesday a 78% increase in proved reserves and a 62% increase in proved, probable and possible (3P) reserves at the end of last year.

Consol Energy Inc. on Friday said its fourth quarter earnings were a preview of how the company will grow in the next three years, billing them as the first strong indicator of how the company will perform financially in the post-coal era.

New York Gov. Andrew Cuomo’s proposed budget for the 2014-2015 fiscal year does not allocate any funding toward regulating the oil and gas industry, and the state’s top regulator added that there are “absolutely no plans” to issue permits for high-volume hydraulic fracturing (HVHF).

Canonsburg, PA-based Rice Energy Inc. has completed its initial public offering (IPO) of 50 million shares of common stock, netting $594.5 million and capping its first week of trading on the New York Stock Exchange with its share price finishing nearly 12% higher than when it launched.

Antero Resources LLC expects Appalachian-centered production to average 925-975 MMcfe/d net this year, a 75-85% increase over 2013, with around 18 rigs running in the Marcellus and Utica shales — two more than a year ago.

The word “Marcellus” doesn’t need a translation anywhere in the world; now all its developers have to do is find new markets for their products.

Analysts say American Energy Partners LP (AEP-LP) is the company buying 74,000 acres in the Utica Shale from Hess Corp., adding that such a move makes sense given AEP-LP’s appetite for assets in the shale play and a simultaneous decision to secure equity commitments.