Appalachia – Oil & Gas 360

NOG announces bolt-on acquisitions; expands northern Delaware position and enters Ohio Utica shale in Appalachia

November 21, 2023

Oil and Gas 360 HIGHLIGHTS Bolt-on acquisitions of core non-operated working interest properties in the Northern Delaware and Appalachian Basins for a combined initial purchase price of $170 million in cash and 107,657 shares of common stock, subject to typical closing adjustments Combined average expected 2024 production of ~6,500 Boe per day (26% oil, 2-stream) Combined cash flow from operations

An acquisition that would create America’s most valuable shale gas producer

October 18, 2023

Oil Price Shale pioneer Chesapeake Energy has approached its peer Southwestern Energy for preliminary talks about a possible acquisition that would create America’s top shale gas producer by market value, Reuters reports, citing sources with knowledge of the matter. The talks are in the early stages and there are no guarantees a deal could be reached, according to Reuters’ sources.

Gas producer Southwestern to scale up with $2.7 bln deal for Indigo Natural

June 2, 2021

Business Wire SPRING, Texas–(BUSINESS WIRE)–Southwestern Energy Company (NYSE: SWN) (the “Company” or “Southwestern”) today announced that it has entered into a definitive merger agreement with Haynesville producer Indigo Natural Resources, LLC (“Indigo”) under which it will acquire Indigo for approximately $2.7 billion. The transaction is expected to close early in the fourth quarter of 2021, subject to customary closing conditions.

EIA Drilling Productivity Report – April 2020

April 13, 2020

U.S. Shale Oil Output to Rise to Record 8.77 Million bpd in Sept – EIA

August 12, 2019

From Reuters U.S. oil output from seven major shale formations is expected to rise by 85,000 barrels per day (bpd) in September, to a record 8.77 million bpd, the U.S. Energy Information Administration forecast in its monthly drilling productivity report on Monday. The largest change is expected in the Permian Basin of Texas and New Mexico, where output is seen

Several stalled or presumed dead energy projects are back in the driver’s seat in 2017,

Enbridge to Keep Kentucky Gas Pipe Shut for at Least a Week After Blast

August 6, 2019

From Reuters Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12. Enbridge said in a notice to customers Monday afternoon it is working with federal and state officials investigating the incident and has not estimated when the damaged section

Russia's May oil output hits 11-month low on dirty oil crisis - Oil & Gas 360

UGI Subsidiary Closes on Columbia Midstream Deal

August 2, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 UGI Energy Services completes acquisition of TC Energy subsidiary Columbia Midstream UGI Energy Services LLC, a subsidiary of UGI Corporation (stock ticker: UGI), has completed its previously announced acquisition of the equity interests of Columbia Midstream Group, a subsidiary of TC Energy Corporation (stock ticker: TRP), for approximately $1.275 billion. The

Contura Energy Appoints New CEO and Board Member

July 30, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Contura Energy selects David J. Stetson as its new CEO and as a member of its board of directors Contura Energy (stock ticker: CTRA), a Tennessee-based coal supplier, has unanimously elected David J. Stetson as the company’s new chief executive officer, as well as a member of its board, effective July

Pennsylvania NatGas Production Second Only to Texas

April 23, 2018

Pennsylvania natural gas production has been on an upward curve since 2009. According to the EIA, Pennsylvania averaged a record 15 Bcf/d in 2017. Producers have the Appalachian Basin to thank – Pennsylvania accounted for 19% of total U.S. marketed natural gas production. Increased permitting and drilling activity, combined with the expansion of regional pipeline capacity has helped Pennsylvania’s natural

Diversified Gas & Oil Closes $85 Million CNX Asset Buy in Appalachia

April 6, 2018

Diversified Gas & Oil PLC (ticker: DGOC) closed an $85 million cash purchase of certain oil and gas leaseholds, wells, working interests, licenses, related equipment and other assets from CNX Gas Company LLC on March 29, 2018. The effective date of the transaction was January 1, 2018. With the acquisition of the assets from CNX Gas Company, and additional assets

American Energy Imports Lowest Since 1982

March 28, 2018

U.S. continues to import less while exporting more Total net energy imports to the United States fell to 7.3 quadrillion BTUs (quads) in 2017, a 35% decrease from 2016 and the lowest level since 1982, when both gross imports and gross exports were much lower, the EIA said today in a new report. Gross energy imports have been generally decreasing

Range Resources Earns $333 Million in 2017, Plans $941 Million CapEx

February 28, 2018

Range Resources Corporation (ticker: RRC) produced 1,444 MMcf/d of natural gas, 106,038 Bbls/d of NGLs and 15,007 BPD of crude oil and condensate in Q4 2017. Also in Q4 2017, the company had a net income of $221.185 million, or $0.89 per share. This compares to a net loss of $160.709 million, or $(0.66) per share in Q4 2016. For

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