Pennsylvania – Page 2 – Oil & Gas 360

Marcellus and Utica Region Will Supply Nearly Half of Nation’s Natural Gas by 2040: IHS

March 21, 2019

Natural gas liquids production in the Marcellus and Utica formations expected to nearly double in Ohio, Pennsylvania and West Virginia, drawing petrochemical expansion According to a new study from IHS Markit, the Marcellus and Utica shale formations’ production will increase exponentially in the next two decades, driving petrochemical growth in the region. Natural gas from the tri-state region of Ohio,

Pennsylvania Governor Seeks Natural Gas Tax to Raise $4.5 Billion

January 31, 2019

From Reuters Pennsylvania Governor Tom Wolf on Thursday proposed a tax on extracting natural gas to pay for his plan to spend $4.5 billion over the next four years to improve the state’s infrastructure. The state legislature, however, has refused to approve the tax over the past couple of years. Wolf said Pennsylvania is the only state in the country

Southwestern Q3: Heard on the Call

October 26, 2018

Southwestern Energy (ticker: SWN) reported its Q3 results and held its Q3 earnings call today, providing more information about Northeastern Appalachian dynamics, NGL production growth, and also discussed the merits of liquid-rich wells. Highlights from the Q3 results include: Generated positive net cash flow after capital investment; full year capital guidance unchanged Reported net cash provided by operating activities of

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

Billion-Dollar PennEast Pipeline Approved by FERC

January 22, 2018

Severe temperatures and extreme prices push FERC toward pipeline approval; will bring Marcellus gas to Pa., NJ customers According to PennEast Pipeline Company LLC, the Federal Energy Regulatory Commission (FERC) recognized the need for and the public benefit of the PennEast pipeline and issued an order on January 19, 2018, under section 7(c) of the Natural Gas Act – approving

Massive Nor’easter Pushes Gas Prices, Consumption to Record Levels

January 4, 2018

New York spot prices reaching $46.50/MMBTU A heavy winter storm roared through New England today, bringing high winds and snowfall to the region. Morning forecasts predicted New York could see snow accumulations of nine inches, and even higher snowfalls in many other major cities. This storm follows several weeks of cold weather throughout the U.S., which fueled massive natural gas

Cabot Oil & Gas – Day One Breakout Notes

August 15, 2016

Cabot presents at EnerCom’s The Oil & Gas Conference® During Cabot’s breakout session, management was asked the following questions: Where are you in terms of held by production in the Eagle Ford in the next 3-5 years and would you consider divesting and investing in the Marcellus instead? What should we model for Eagle Ford in terms of EUR, oil

Pennsylvania’s Natural Gas Production Rose 13% in 2015, Despite 35% Decrease in Well Permitting

August 10, 2016

Natural gas production in Pennsylvania increased by 550,937 MMcf in 2015 The production of natural gas continued to climb in Pennsylvania in 2015 despite lower commodities prices, and a decrease in drilling activity. A report from the state’s Department of Environmental Protection found Pennsylvania produced 4.6 trillion cubic feet of natural gas during the year, maintaining its position as the

Antero Resources Snags 55,000 Core Marcellus Acres

June 9, 2016

Antero Resources (ticker: AR) has signed an agreement with Southwestern Energy (ticker: SWN) to acquire approximately 55,000 net acres in the core of the Marcellus shale, the company announced on June 9, 2016. Approximately 75% of the 55,000 net acres contains dry Utica rights. The acquisition includes undeveloped properties located primarily in Wetzel, Tyler and Doddridge Counties in West Virginia

Shell Announces FID for New Petrochemical Plant to Draw from Marcellus, Utica Gas Production

June 7, 2016

Royal Dutch Shell announced on June 7, 2016, that the final investment decision has been given for construction of a petrochemical plant in western Pennsylvania. The plant will be located near the Marcellus and Utica shale plays and will collect ethane from the area to make ethylene for use in the manufacturing of plastics. The plant announcement was five years

Pennsylvania Receives Less from Oil and Gas Tax Revenue than Texas, Alaska

August 24, 2015

Via Philadelphia Business Journal Pennsylvania gets smaller share of tax revenue from oil and gas extraction than Texas, Alaska Less than 1 percent of Pennsylvania’s tax revenue comes from taxes and fees generated directly from the extraction of oil and natural gas, according to a new report. The Keystone State is the second-biggest natural gas producer in the U.S. but

ETP Simplifies Structure with $20 Billion Sunoco Acquisition

Pennsylvania Forms Task Force to Oversee Construction of 25,000 Miles of Pipeline

July 9, 2015

New task force focuses on developing Pennsylvania infrastructure responsibly In 2014, Pennsylvania became the second largest natural gas producing state after Texas, producing over 4 trillion cubic feet of natural gas last year, according to the Energy Information Administration. The shale revolution has allowed companies to unlock massive quantities of natural gas locked in tight formations, doubling Pennsylvania’s output from

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