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Utica Shale

Antero Partnering with Quantum to Fund Some Marcellus Development Through 2024

Antero Partnering with Quantum to Fund Some Marcellus Development Through 2024

Appalachian pure-play Antero Resources Corp. has entered a drilling partnership worth up to $550 million with an affiliate of Quantum Energy Partners to fund a portion of its Marcellus and Utica shale development through 2024.  Under the deal, QL Capital Partners would fund 20% of Antero’s development capital spending in 2021 and 15-20% from 2022…

February 23, 2021
Low Natural Gas, Oil Prices Break Two-Year Uptrend for Proved U.S. Reserves, Says EIA

Low Natural Gas, Oil Prices Break Two-Year Uptrend for Proved U.S. Reserves, Says EIA

A two-year trend of rising proved reserves of natural gas and oil in the United States ground to a halt amid a decline in prices in 2019, according to the Energy Information Administration (EIA). Natural gas proved reserves decreased 1.9% year/year in 2019 to 494.9 Tcf from 504.5 Tcf. This is the first annual decrease…

January 11, 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
Natural Gas Output to Continue Falling in Seven Key Lower 48 Regions, EIA Says

Natural Gas Output to Continue Falling in Seven Key Lower 48 Regions, EIA Says

Natural gas production from seven key U.S. onshore regions is set to drop from November to December, extending a trend of falling output that has held for most of 2020, according to data published Monday by the Energy Information Administration (EIA). In the latest monthly release of its Drilling Productivity Report (DPR), EIA said it…

November 17, 2020
Trump Targets Biden’s Stance on Drilling in Pennsylvania as Election Day Nears

Trump Targets Biden’s Stance on Drilling in Pennsylvania as Election Day Nears

In a final push to win Pennsylvania, among a handful of battleground states crucial for his re-election chances, President Trump this week ramped up attacks on rival and Democratic nominee Joseph R. Biden Jr. over hydraulic fracturing, aka fracking. Following a slew of television and online advertisements striking at Biden’s energy stances, Trump held several…

October 27, 2020
Natural Gas-Rich Haynesville, Marcellus Add Rigs as U.S. Posts Small Gain

Natural Gas-Rich Haynesville, Marcellus Add Rigs as U.S. Posts Small Gain

Boosted by gains in the Haynesville and Marcellus shales, the U.S. rig count added one unit overall to finish at 255 for the week ending Friday (Sept. 18), according to the latest figures from Baker Hughes Co. (BKR). The addition of two natural gas-directed rigs in the United States offset the departure of one oil-directed…

September 18, 2020
Natural Gas Production from Seven Key Plays to Slide to 79.2 Bcf/d in September, EIA Says

Natural Gas Production from Seven Key Plays to Slide to 79.2 Bcf/d in September, EIA Says

Both natural gas and oil production from seven key U.S. onshore plays is set to decline in September, continuing a downtrend that began earlier this year, according to the latest Drilling Productivity Report (DPR) published Monday by the Energy Information Administration (EIA). EIA expects natural gas production from the Anadarko, Appalachian, Denver Julesburg-Niobrara and Permian…

August 18, 2020
Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

Southwestern Energy Co. agreed to acquire Montage Resources Corp. in an all-stock deal that would create the third largest oil and natural gas producer in the Appalachian Basin, with 3 Bcfe/d of combined production.  The deal is valued at $857 million, including debt, according to Raymond James & Associates Inc. It would give the Houston-based…

August 12, 2020
Ohio NGL Project Lands First Customer in Possible Breakthrough for Appalachian Hub

Ohio NGL Project Lands First Customer in Possible Breakthrough for Appalachian Hub

Plans for an underground natural gas liquids (NGL) storage facility in Ohio seen as key to the region’s petrochemical build-out have moved another step closer to reality as the backer of a multi-billion dollar ethane cracker has signed a preliminary agreement to further its development.   Energy Storage Ventures LLC (ESV) and an affiliate of Thailand’s…

July 27, 2020
Montage Strikes Deal to Sell Utica Gathering Infrastructure

Montage Strikes Deal to Sell Utica Gathering Infrastructure

Appalachian pure-play Montage Resources Corp. has agreed to sell noncore natural gas gathering assets in Ohio’s Utica Shale to an undisclosed company for $25 million.  Montage said an international company agreed to purchase the infrastructure, which is in a condensate development area. The transaction is expected to close in 4Q2020. Proceeds would be used to…

July 27, 2020
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