Marcellus Shale – Oil & Gas 360

Chesapeake Energy to reduce Haynesville, Marcellus rig count following Southwestern natural gas megadeal

February 22, 2024

World Oil (WO) – Chesapeake Energy announced that it is lowering prior capital expenditure guidance approximately 20% to $1.25 – $1.35 billion through rig count reductions and deferring completions and turn-in-lines in its 2024 outlook report. Chesapeake is currently operating nine rigs (five in the Haynesville and four in the Marcellus) and four frac crews (two in each basin). Given

Northeast Natural Energy received “industry-first” ESG grade for Marcellus shale natural gas production

November 30, 2023

World Oil (WO) – Northeast Natural Energy, a West Virginia-based Marcellus shale natural gas producer, has just become the first producer globally to receive an “A” letter grade from Equitable Origin (EO) for the ESG performance of its West Virginia assets. This was the result of a voluntary reverification audit conducted by Responsible Energy Solutions LLC in 2023. A pioneer

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.

EQT announces transformative transaction with Alta Resources

May 6, 2021

05/06/21 Highly Economic Assets in the Core of the Northeast Marcellus PITTSBURGH, May 6, 2021 /PRNewswire/ — EQT Corporation (NYSE: EQT) today announced that it has entered into a purchase agreement with Alta Resources Development, LLC (Alta), pursuant to which EQT will acquire all of the membership interests in Alta’s upstream and midstream subsidiaries for approximately $2.925 billion, subject to customary

Sumitomo quits U.S. shale oil with sale of Eagle Ford stake

February 4, 2021

Reuters TOKYO – Japanese trading house Sumitomo Corp has quit the shale oil business in the United States by selling its stake in a project in the Eagle Ford during the October to December quarter of 2020, a company spokesman said on Thursday. Sumitomo bought a 100% stake in 2018 in a field in the Eagle Ford formation of southern

Reliance’s unit to sell Marcellus shale assets for $250 million

February 4, 2021

Reuters BENGALURU – Reliance Industries Ltd said on Thursday its unit will sell its interest in certain upstream assets in the Marcellus shale in the United States for $250 million in cash to Northern Oil and Gas Inc. The assets, currently operated by various affiliates of EQT Corp, will be sold for the cash consideration and warrants, that will allow

Equitrans confirms early 2021 startup for Mountain Valley natural gas pipeline

August 4, 2020

Reuters U.S. pipeline company Equitrans Midstream Corp (ETRN.N) said on Tuesday it still expects to complete the $5.4 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in early 2021. Mountain Valley is one of several U.S. oil and gas pipelines delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits

Differential Price Recovery: How Regional Forces Are Bringing Benchmark Prices Back Towards Equilibrium

June 10, 2020

RarePetro Oil & Gas Publishers Note: Another great industry insight article from Kevin Olson at RarePetro. Abstract Financial markets attempted to buoy benchmark prices as oil and gas markets became volatile in Q1 2020. This created a disconnect in the price spreads between the NYMEX WTI futures benchmark and regional spot prices. The disconnect continued to grow at the beginning

The number of active U.S. crude oil and natural gas rigs is at the lowest point on record

May 20, 2020

EIA Producers were operating the fewest oil and natural gas drilling rigs on record in the United States at 339 on May 12, the lowest level in the Baker Hughes Company’s rig count data series that dates back to 1987. The number of active rigs began sharply decreasing in mid-March as crude oil prices fell: rigs have fallen by 56%

Natural Gas rebound poised for recovery before crude oil -fig 1 oilandgas360

Natural Gas rebound poised for recovery before crude oil: Why the market has priced electricity and liquid fuel demand into commodity prices

April 25, 2020

Rare Petro Abstract: The dual black swan events of the COVID-19 pandemic and oil price war have created a unique analytical opportunity within petroleum products. As oil prices crash, the natural gas prices have largely remained unchanged. This is due to the markets in which the commodities are used. Transportation which is the main use of oil has almost entirely

Crestwood Bolsters its Midstream Assets in the Bakken

August 14, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Commercial operations begin at the Bear Den II processing plant Crestwood Equity Partners LP (stock ticker: CEQP), a Houston-based master limited partnership, has begun commercial operations at its Bear Den II processing plant in Watford City, North Dakota. The Bear Den II facility is a 120 million cubic feet per day

Summit Midstream Appoints New President and CEO

August 9, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream Partners appoints J. Heath Deneke as president, CEO and board member Summit Midstream Partners LP (stock ticker: SMLP), a master limited partnership located in The Woodlands, Texas, has appointed J. Heath Deneke to serve as its president and chief executive officer, effective September 16, 2019. Deneke was also nominated

Premium Content