Utica Shale

Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling Permits on the Uptick in Lower 48 Natural Gas Plays 

Drilling permits in the natural gas-rich Marcellus, Utica and Haynesville shale plays showed strong month/month growth in December 2023 but remained 16% below the December 2022 total, according to the latest tally by Evercore ISI. The three formations, which together supply about 53% of Lower 48 gas output, had a combined issued permit count of…

January 30, 2024
CNX Exploring LNG, CNG, Hydrogen Opportunities to Drive Appalachian E&P Growth

CNX Exploring LNG, CNG, Hydrogen Opportunities to Drive Appalachian E&P Growth

CNX Resources Corp. expects efficiencies and new wells in the Appalachian Basin to help lower costs and maintain natural gas output in the years ahead as it explores alternative fuels.  CNX, the first Lower 48 exploration and production (E&P) company to report fourth quarter earnings, said strong execution of last year’s program, along with more…

January 29, 2024
Appalachian Natural Gas Production Ramped Up in Early 2023

Appalachian Natural Gas Production Ramped Up in Early 2023

A recent report indicated that natural gas production from the Appalachian Basin peaked in 2022, but U.S. Energy Information Administration (EIA) data show that marketed output increased through the beginning of 2023.  In the report, Frackalachia Update: Peak Natural Gas and the Economic Implication for Appalachia, Ohio River Valley Institute (ORVI) researcher Sean O’Leary noted…

August 31, 2023
Led by Texas, Energy Producing States to Share $660M to Clean Up Orphaned Natural Gas, Oil Wells

Led by Texas, Energy Producing States to Share $660M to Clean Up Orphaned Natural Gas, Oil Wells

The Biden administration is planning to invest $660 million to clean up orphaned natural gas and oil wells, with most of the funds earmarked for the energy producing states of Ohio, Pennsylvania and Texas. The goal is for the states to receive “economic growth and revitalization,” Department of Interior (DOI) officials said. The program would…

July 17, 2023
Mercuria Jumps on Zefiro’s Carbon Credit Trading Program Using Abandoned Wells

Mercuria Jumps on Zefiro’s Carbon Credit Trading Program Using Abandoned Wells

Zefiro Methane Corp., which plugs orphaned and abandoned oil and gas wells in North America to create carbon credits, has pre-sold some of the portfolio to trader Mercuria Energy America LLC.  Zefiro’s current projects include plugging abandoned or orphaned wells in the Appalachian Basin and Texas-Louisiana-Mississippi Salt Basins. “For too long, investors have not had…

July 12, 2023
MVP ‘Grateful’ for Debt Deal Assist, Looking Toward 2023 Completion

MVP ‘Grateful’ for Debt Deal Assist, Looking Toward 2023 Completion

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…

June 5, 2023
Williams’ Marketing Unit Seizes on Natural Gas Price Volatility, with Eye on LNG Opportunities

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.…

May 8, 2023
Ohio’s Natural Gas, Oil Property Taxes Lifting State Coffers

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…

May 1, 2023
Pennsylvania Posts Largest Annual Decline in Natural Gas Production

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…

March 13, 2023
Ascent Resources Outlines Steady Utica Drilling Plan as Natural Gas Prices Seen Weakening 

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…

March 13, 2023