Marcellus

Chesapeake Focusing on Natural Gas with Reset Midstream Contracts Post-Bankruptcy

Chesapeake Focusing on Natural Gas with Reset Midstream Contracts Post-Bankruptcy

Oklahoma City-based Chesapeake Energy Corp. on Tuesday put the Chapter 11 process in the rear-view mirror and said it wants to take up the gauntlet to develop its substantial Mother Lode of Lower 48 natural gas. At one time the largest natural gas producer and biggest leaseholder in the onshore, Chesapeake succumbed to bankruptcy last…

February 10, 2021
Northern Oil Enters Appalachia as India’s Reliance Exits

Northern Oil Enters Appalachia as India’s Reliance Exits

India’s Reliance Industries Ltd. has agreed to divest its entire stake in 64,000 net acres in the Appalachian Basin, continuing its exodus from unconventional oil and natural gas assets in the United States.  Northern Oil and Gas Inc. (NOG) agreed to acquire the nonoperated stake from Reliance Marcellus LLC in exchange for $175 million and…

February 4, 2021
U.S. Supreme Court Agrees to Hear PennEast Case Versus New Jersey in Big Win for Natural Gas Project

U.S. Supreme Court Agrees to Hear PennEast Case Versus New Jersey in Big Win for Natural Gas Project

The U.S. Supreme Court has agreed to hear PennEast Pipeline Co. LLC’s case against New Jersey, which has stopped the natural gas project from condemning state-owned land.  The high court on Wednesday granted PennEast’s petition in a win for the project, which has been under development for more than five years. The pipeline is one…

February 3, 2021
MPLX’s 2021 Capex Lower, Preparing for Long Post-Covid Recovery

MPLX’s 2021 Capex Lower, Preparing for Long Post-Covid Recovery

The Marcellus Shale and Permian Basin remain growth areas for MPLX LP, but the operator plans to put more of an emphasis on “strict” capital and cost discipline going forward as uncertainty regarding the Covid-19 pandemic lingers. CEO Michael Hennigan said the midstream giant is targeting only $800 million in growth capital spending in 2021,…

February 3, 2021
CNX Reports Record-Breaking Fourth Quarter Despite Pandemic

CNX Reports Record-Breaking Fourth Quarter Despite Pandemic

Despite a volatile year marred by the Covid-19 pandemic, CNX Resources Corp. said it finished strong, delivering on a more cautious approach implemented early in 2020 when the virus spread across the world and weighed on energy demand.  “2020 marked the most successful year we’ve seen as an” exploration and production company, “and frankly, as…

January 29, 2021
New FERC Chairman Signals Stricter Standards for Further MVP Construction Authorizations

New FERC Chairman Signals Stricter Standards for Further MVP Construction Authorizations

FERC in its monthly meeting Tuesday failed to pass three draft orders for Mountain Valley Pipeline LLC (MVP), a move that could augur poorly for the developer’s expectations to quickly complete construction amid the transition to Democratic leadership at the agency. In recent months, MVP has sought the Federal Energy Regulatory Commission’s blessing to continue…

January 21, 2021
FERC Dems Criticize ‘Piecemeal’ MVP Construction, Possibly Stalling Future Authorizations

FERC Dems Criticize ‘Piecemeal’ MVP Construction, Possibly Stalling Future Authorizations

FERC in its monthly meeting Tuesday failed to pass three draft orders for Mountain Valley Pipeline LLC (MVP), a move that could augur poorly for the developer’s expectations to quickly complete construction amid the transition to Democratic leadership at the agency. In recent months, MVP has sought the Federal Energy Regulatory Commission’s blessing to continue…

January 20, 2021
U.S. Adds One Natural Gas Rig as Drilling Total Surges on Oil Gains

U.S. Adds One Natural Gas Rig as Drilling Total Surges on Oil Gains

The U.S. natural gas rig count rose one unit to 84 for the period ending Friday (Jan. 8), while gains in the oil patch saw the overall domestic drilling tally surge higher, according to the latest weekly numbers published Friday by oilfield services provider Baker Hughes Co. (BKR). In the United States, drillers added eight…

January 8, 2021
Appalachian Consolidation Continues as West Virginia Natural Gas Trade Groups Merge

Appalachian Consolidation Continues as West Virginia Natural Gas Trade Groups Merge

West Virginia’s leading oil and natural gas trade groups have merged in a sign of how the Appalachian Basin has changed in recent years. The merger between the Independent Oil and Gas Association of West Virginia (IOGA) and the West Virginia Oil and Natural Gas Association is set to take effect Jan. 1, when the…

December 31, 2020
Pennsylvania Natural Gas Production in 3Q Grew at Lowest Rate on Record

Pennsylvania Natural Gas Production in 3Q Grew at Lowest Rate on Record

Pennsylvania’s unconventional natural gas production in the third quarter hit 1.751 Tcf, an increase of only 2% from the same period last year and the lowest annual growth rate on record as operators continued to pare activity throughout a tumultuous year. Production increased slightly from 2Q2020 volumes of 1.717 Tcf, according to the Pennsylvania Independent…

November 25, 2020
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