Daily Archives: May 3, 2017

SHORT NATGAS ETF–UNG-NYSE

IS THE TIME RIGHT TO SHORT NATURAL GAS?   Is it time to short natural gas?  I think the time is close.  I got short UNG-NYSE yesterday–the very liquid natgas ETF. In last Thursday’s monthly EIA 914 report, US natgas production rose; in fact it was the biggest jump in production from the Lower 48…

Noble Energy Sells Remaining M-U Assets for $1.2B – Who Bought?

Yesterday Noble Energy dropped a bombshell that it has sold its 100% interest in 385,000 Marcellus/Utica acres and wells producing 415 million cubic feet equivalent of natural gas in West Virginia and Pennsylvania for $1.225 billion to “an undisclosed buyer.” That works out to be $3,181 per acre. Not included in the sale is Noble’s…

Huntley & Huntley Targets New Drilling in Westmoreland County, PA

It’s been a few years since MDN has written a post about seismic testing. Typically before land gets leased and drilled on, drillers will contract with seismic testing companies to conduct a mapping survey of the land. The survey does not show the surface, but rather the sub-surface–a kind of “x-ray” of what the rock…

WV Supreme Court Post-Production Royalty Case Hinges on 3 Words

Yesterday the five justices of the West Virginia Supreme Court reheard a case involving post-production deductions from royalty payments. Last week we reported that the court *might* rehear the case this week–if they didn’t grant a late-breaking motion to dismiss the rehearing (see WV Supreme Court to Rehear EQT Post Production Royalty Case, Maybe). In…

Ohio Legislators Push to Allow Fracking in State Parks, Forests

Thumbing their collective noses at Ohio RINO Gov. John “foreigner hunter” Kasich, Republican legislators in the House added a “little-noticed provision” in the state budget deal that will give the legislature, and not the governor, the power to select members of the Ohio Oil and Gas Commission. That small change would have huge consequences. How?…

Radical Green Groups Sue Fed Govt to Block Fracking in Ohio WNF

After 10 long years, the Bureau of Land Management (BLM) auctioned 719 acres in Ohio’s Wayne National Forest (WNF) last December (see BLM Auction Leases 17 Parcels, 719 Acres in OH Wayne Natl Forest). In March, the BLM held a second auction for 1,180 acres (see 2nd Wayne Natl Forest Lease Sale Hauls in $5.2M,…

CONSOL Energy 1Q17 – Posts Loss, Selling Everything in Sight

Yesterday CONSOL Energy, one of the larger drillers in the Marcellus/Utica, released its first quarter 2017 update. The company reports losing $34 million in 1Q17. Production was down too–but just slightly at less than 2% less than 1Q16. The big news is how fast CONSOL is selling stuff. CONSOL sold $108 million worth of assets…

Sunoco LP Hiring 50% Local to Build Mariner East 2 Pipeline

As construction of the Mariner East 2 NGL (natural gas liquids) pipeline project heats up, thousands of Pennsylvanians are going back to work. Sunoco Logistics Partners (now called Energy Transfer Partners) said it would take some 8,000 workers to build the twin pipelines called Mariner East 2–from eastern Ohio through the state of Pennsylvania to…

Antis Mad Their Towns Won’t Block Mariner East 2 Pipe Near Homes

Looks like Middletown Township, in Delaware County, PA (Philadelphia suburb), has finally faced reality that the Mariner East 2 Pipeline is coming through town. To be fair, town council came to that conclusion last September when they voted to grant easements to Sunoco Logistics Partners to build Mariner East 2 across four parcels of public…

Noble’s Marcellus sale ends its drilling foray into Appalachia

Noble Energy Inc. is selling off its Marcellus Shale natural gas wells in the next several months for more than $1 billion, ending a six-year tenure in Appalachian natural gas production that began with a multibillion-dollar joint venture with Consol Energy Inc. in 2011 and its own $3.4 billion initial investment in Marcellus Shale acreage…

Final Justice: Junkyard Plaintiff Loren Kiskadden Case Is Over

Tom Shepstone Shepstone Management Company, Inc.   Finally, at long last, the Loren Kiskadden case is over. The junkyard plaintiff used by fractivist special interests to make headlines for years lost bigly. Loren Kiskadden, the junkyard plaintiff from Southwestern Pennsylvania, the serial litigator used by some trial lawyers and the fractivist special interests as a poster child for…

Message to Chesapeake Energy: You’re Not Helping

Daniel B. Markind, Esq. Weir and Partners, LLP   Sadly, the failure of Chesapeake Energy to properly resolve disputes with landowners is not helping the natural gas industry; in fact, it’s hurting things. Chesapeake Energy found itself in hot water again last week when allegedly it continued to deduct prior losses from royalty payments due…

Schlumberger business boosted by shale rebound

Responding to favorable prices, the company has begun redeploying idled fracking equipment back into U.S. shale plays and hiring workers. The post Schlumberger business boosted by shale rebound appeared first on Shale Gas Reporter. Continue Reading: Shale Gas Reporter

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