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What a difference three years can make! Three years ago, Henry Hub prices were hovering around $2 per thousand cubic feet (Mcf). Stock valuations for Marcellus/Utica drillers were majorly depressed (down 80-90% from previous highs), and gas producers were struggling. Fast forward to today. Balance sheets and earnings statements are through the roof. Most experts
Last week (Dec. 12-18), the number of permits issued to drill new shale wells in the Marcellus/Utica bumped up nicely to 32, up from the prior week’s 20. Both Pennsylvania and Ohio issued 16 new shale permits each. West Virginia got skunked and issued none. Pennsylvania New Shale Permits Issued Dec 12-18 ... Ohio New
Gas-focused drillers in the U.S. tracked by RBN Energy (most of them with major operations in the Marcellus/Utica region) had a stellar third quarter financially. The group of 11 publicly-traded drillers that RBN tracks tripled their earnings on average, and cash flows were up 150% over the same quarter last year. EQT Corp., now helmed
Last week (Nov. 14-20) saw a total of 31 new shale permits issued across the Marcellus/Utica, up slightly from 26 permits the week before. Pennsylvania received the most permits, with 26 new permits issued. Ohio received five new permits, and West Virginia got skunked with no new permits last week. In PA, Range Resources scored
Permits issued to drill new Marcellus/Utica wells slipped last week, for the week of Nov. 7-13. Last week saw a total of 26 new permits issued, falling from 43 permits the week before. Pennsylvania received the most permits, just barely, with 13 new permits. Ohio received 12 new permits, and West Virginia a single new