Mountain Valley Pipeline LLC (MVP) developers expect to have the long-delayed and oft-challenged natural gas pipeline in service by the end of this year thanks to a major assist from provisions included in the bipartisan debt ceiling deal signed by President Biden. The Fiscal Responsibility Act, negotiated between the Biden administration and lawmakers, and signed…
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Williams’ Marketing Unit Seizes on Natural Gas Price Volatility, with Eye on LNG Opportunities
Williams capitalized on heightened natural gas price volatility and recorded all-time high gathering volumes during the first quarter, countering the unfavorable impacts of a harsh winter on its gathering system in the West. Management credited the success of marketing arm Sequent Energy Management LP, purchased in 2021, in optimizing the assets in its base business.…
Ohio’s Natural Gas, Oil Property Taxes Lifting State Coffers
Natural gas and oil operations in eight Ohio counties alone provided $364 million in property taxes between 2010 and 2021, with taxes in 2020 and 2021 reaching record highs. Ohio’s top ranking counties for property tax generation in 2021, the most recent year for data, were Belmont ($17.26 million), Jefferson ($11.19 million) and Monroe ($10.63…
Pennsylvania Posts Largest Annual Decline in Natural Gas Production
Pennsylvania’s natural gas production declined by 5.1% in the final quarter of 2022, the largest year/year decline since monthly production data began, according to the state’s Independent Fiscal Office (IFO). This was the fourth consecutive quarter in which production did not increase on a yearly basis, according to the IFO’s Natural Gas Production Report compiled…
Ascent Resources Outlines Steady Utica Drilling Plan as Natural Gas Prices Seen Weakening
Privately-held Ascent Resources Utica Holdings LLC, Ohio’s largest natural gas producer, is joining its publicly-traded peers in keeping production and activity flat this year as the commodity outlook has softened. Ascent, also one of the nation’s largest private natural gas producers, is guiding for 2-2.1 Bcfe/d of production in 2023, in line with the 2.1…
EQT Sending Oil, Natural Gas Equipment to Support Ukraine’s War Efforts
EQT Corp., the largest natural gas producer in the United States, has donated production equipment to Ukraine’s largest gas producer, JSC Ukrgasvydobuvannya, to restore facilities damaged in the war with Russia. Ukrgasvydobuvannya, a unit of Naftogaz, produces 70% of Ukraine’s gas, which totals around 12.5 Bcm. “Ensuring a reliable supply of energy is a challenge,…
Range Resources Shrugs Off Report of Potential Pioneer Natural Resources Acquisition
Range Resources Corp.’s management team on Tuesday brushed aside questions about whether they’ve discussed the possibility of Pioneer Natural Resources Co. acquiring the company after reports surfaced last week. CEO Jeff Ventura told analysts during a call to discuss year-end financial results Tuesday that a statement Pioneer issued downplaying the reports was “good news” for…
Equitrans Says MVP Coming in 2023, but ‘Disappointed’ with Permitting Reform Failures by Congress
Equitrans Midstream Corp.’s (EQM) long-delayed Mountain Valley Pipeline (MVP) may gain some necessary permits within the next few months, “which will allow us then to bring MVP into service in 2023,” said CEO Thomas Karam. EQM is expecting the biological opinion from the U.S. Fish and Wildlife Service by next Tuesday, “and based on the…
Natural Gas Rig Count Likely Declining on Market ‘Softness,’ Says Patterson-UTI CEO
Lower 48 natural gas-directed rigs are likely to retreat because of weak prices, Patterson-UTI Inc. CEO Andy Hendricks said Thursday. Hendricks held a conference call to share quarterly results and discuss the outlook for contract drilling services, the company’s forté. At the end of January, the company had 130 rigs on average working in the…
Ohio Slaps ‘Green’ Label on Natural Gas as ‘An Opinion Statement,’ Says Governor
Natural gas is officially labeled “green” in Ohio after Gov. Mike DeWine last month signed House Bill (HB) 507 into law, though the green stamp may not carry much legislative weight for funding or regulations, according to the governor’s office. HB 507 passed the Ohio Senate in December, with the primary goal of ensuring state…