Rice Energy Inc.’s final full quarter as a publicly traded company saw a production increase and the creation of a new word. Production in the third quarter was 131.2 billion cubic feet up from 68.7 million cubic feet in the same period a year ago with 32 wells drilled and 30 completed in the Marcellus…
A study has found that Pennsylvanians’ wallets have benefitted from the Marcellus Shale drilling boom over the past 10 years. The University of Pennsylvania looked at data from between 2007 and 2016, and found that natural gas prices have “decreased significantly,” up to 40 percent for residential consumers, the study found. “Pennsylvania consumers enjoyed more…
Pin Oak now has 363 wells and 5.7 million cubic feet of production in the Utica and Marcellus in Pennsylvania and Ohio. In August, the company acquired wells and leases, 22 miles of gathering pipeline, all in western Pennsylvania and eastern Ohio, and a five-acre field office in Hermitage, all from an undisclosed seller. In…
A Denver investment firm is making a bigger bet on Pennsylvania natural gas. Kalnin Ventures LLC said it’s spending $210 million to buy assets in the northeast portion of the Marcellus Shale, in Pennsylvania’s Wyoming and Susquehanna Counties. The investment firm said in the past two years, it’s spent $417 million on five deals in…
Two key leaders in the natural gas industry called for a faster pace of pipeline construction to bolster Appalachia’s energy industry during the first day of a shale conference in Pittsburgh. “We must continue to invest in the necessary infrastructure to transport oil and natural gas to markets more quickly,” said XTO Energy President Sara…
A newly formed Texas company has its eye on investments in the natural gas industry relating to the Marcellus and Utica shale. Pathfinder Resources LLC, created by private equity firm District 5 Investments LP (D5) in Irving, Texas, is looking for energy investments between $5 million and $35 million in Pennsylvania, West Virginia and Ohio….
Southpointe-based firm has tallied 350 transactions since inception. Continue Reading: Energy & the Environment News – Energy News Headlines | Bizjournals.com
The owners of the Constitution Pipeline have petitioned the 2nd U.S. Court of Appeals to reverse a three-judge panel’s ruling in August that upholds New York environmental regulators in blocking the pipeline, SNL Energy reports. Piedmont Natural Gas, a subsidiary of Duke Energy Corp. (NYSE:DUK) owns 24% of the 124 mile project. The pipeline is…
Sean Spicer, the former White House press secretary in the Trump administration, has been named the closing keynote speaker of the Shale Insight conference to be held later this month in Pittsburgh. The Marcellus Shale Coalition announced Wednesday that the speech will be among Spicer’s first since leaving the White House earlier this summer. The…
The U.S. Department of Energy’s report on electricity markets and the grid says the rise of natural gas has hurt the coal industry. The long-awaited report, released Thursday, finds the natural gas boom — seen locally in southwestern Pennsylvania with the Marcellus and Utica shales — has been a big factor in the closing of…
“There’s enough historical memory of pain in the Marcellus and some of those areas that people go, ‘wow, really, you’re going to go in and get involved in another dry gas play? Last time that didn’t work out so well.’” Continue Reading: Energy & the Environment News – Energy News Headlines | Bizjournals.com
The developers behind the proposed 121-mile Constitution Pipeline lost another bid to bring natural gas into New York after a federal court of appeals Friday dismissed its lawsuit challenging the state’s decision to block the project. The investors and gas companies behind the project sought to spend $875 million to build a pipeline between northeastern…
The longer wells may also fuel a recent deal that consolidated Marcellus resources. Continue Reading: Energy & the Environment News – Energy News Headlines | Bizjournals.com
Consol Energy Inc. plans to add another rig sometime next year. The Canonsburg-based Consol (NYSE: CNX) has been running two rigs running for natural gas, one in western Pennsylvania and the other in the dry Utica Shale region of Monroe County, Ohio, about 60 miles southwest of Pittsburgh. It’s another sign of improving fortunes in…
EQT Corp. has suspended its test drilling in the Utica Shale ahead of improvements that the company is anticipating with its upcoming $6.7 billion acquisition of Rice Energy. The Pittsburgh-based natural gas driller announced the move Thursday in a line with its second-quarter earnings report. EQT (NYSE: EQT) executives are expected to discuss the Rice…