Marcellus

U.S. Oil, Gas Permitting at Record Low in April, but Strengthening Seen in Early May

U.S. Oil, Gas Permitting at Record Low in April, but Strengthening Seen in Early May

The collapse in drilling activity deepened in April, with permitting for oil and natural gas wells at a record low, but there are glimmers of gains so far this month, according to an analysis by Evercore ISI.

May 14, 2020
Antero, NFG Announce Further Activity Cuts as Pandemic Wears On

Antero, NFG Announce Further Activity Cuts as Pandemic Wears On

Planned production curtailments and delayed well completions continue to grow in the Appalachian Basin as more exploration and production (E&P) companies are continuing to announce less activity in the face of Covid-19 and the corresponding slide in commodity prices.

May 5, 2020
U.S. Rig Count Down 57 in Another Week of Aggressive Retrenchment

U.S. Rig Count Down 57 in Another Week of Aggressive Retrenchment

Aggressive retrenchment in the U.S. oil patch remained the dominant theme in the latest rig numbers, with the United States dropping 57 rigs to fall to 408 during the week ended Friday (May 1), according to data from Baker Hughes Co. (BKR).

May 1, 2020
Cabot, Southwestern to Curtail Some Production, but See Natural Gas Prices Increasing

Cabot, Southwestern to Curtail Some Production, but See Natural Gas Prices Increasing

Two of Appalachia’s leading operators said Friday that they would curtail some production this shoulder season, but both are anticipating a long-awaited increase in natural gas prices later in the year.

May 1, 2020
Range Resources Maintaining NGL Differential Guidance, Says Marcus Hook Exports Fetching Premium to Mont Belvieu

Range Resources Maintaining NGL Differential Guidance, Says Marcus Hook Exports Fetching Premium to Mont Belvieu

Range Resources Corp. said Monday it has continued to see positive price premiums this year on natural gas liquids (NGL) exported from the Marcus Hook export terminal in Pennsylvania compared to the Mont Belvieu hub in Texas.

April 28, 2020
Ohio Cracker FID Said Likely Delayed Due to Coronavirus

Ohio Cracker FID Said Likely Delayed Due to Coronavirus

The sanctioning of a multi-billion dollar ethane cracker in Ohio is again likely to be delayed after the partnership behind the project said the Covid-19 pandemic has hindered the process.

April 28, 2020
CNX Curtailing Wet Gas Production in Plotting Course Through Market Chaos

CNX Curtailing Wet Gas Production in Plotting Course Through Market Chaos

Appalachian pure-play CNX Resources Corp. said Monday that it would shut-in some of its wet gas production next month in response to low prices and could ultimately defer some new wells depending on how the market recovers from the oil rout and Covid-19 pandemic.

April 27, 2020
EQT Given Breathing Room by Higher Natural Gas Prices, with Optimism for Even More Gains

EQT Given Breathing Room by Higher Natural Gas Prices, with Optimism for Even More Gains

Higher natural gas prices amid the Covid-19 pandemic may have given some unexpected breathing room to Pittsburgh-based EQT Corp., management said Thursday.

April 23, 2020
U.S. Drops Another 73 Rigs, Down More Than 250 Since Mid-March

U.S. Drops Another 73 Rigs, Down More Than 250 Since Mid-March

The dramatic decline in U.S. onshore activity showed no signs of letting up during the week ended Friday (April 17) as the domestic rig count plummeted another 73 rigs to fall to 529, according to the latest figures from Baker Hughes Co. (BKR).

April 17, 2020
Lower 48 Oil, Gas Permitting Expected to ‘Collapse in April’ Amid Pandemic

Lower 48 Oil, Gas Permitting Expected to ‘Collapse in April’ Amid Pandemic

Having already plunged by 62% year/year (y/y) in the first three months of 2020, permitting for Lower 48 oil and natural gas drilling is expected to drop further in April, according to a team of Evercore ISI analysts led by James West.

April 17, 2020