The following Shale Directories Members are OPEN for BUSINESS during COVID-19 related shutdown.*
Support them when and how you can!
ACF Environmental
Allison Crane & Rigging
Anderson Excavating
American Energy Fabrication
Barbco, Inc.
Beaver Excavating
Boyd CAT
Cintas
Dawood Engineering
Doss Enterprises
EJ Breneman, L.L.C.
Frontier Group of Companies
Furbay Electric, Oil & Gas Division
Green Valley Seed
HYTORC Penn Ohio
Inland Tarp and Liner
Kessel Construction
MJ Painting Contractor Corp.
Mansfield Crane Service
Marshall County Co-Op – Southern States
Mustang Sampling
NAI Ohio River Corridor
Oglebay Resort and Conference Center
ORT Tool
Skycasters Converged Wireless
Wampum Hardware
Water Transport
Zimmerman Steel and Supply Company, Inc.
*list subject to change
Shale Directories Conferences
8th Annual Upstream PA 2020
New Date October 29, 2020
Toftrees Resort
State College, PA
4th Annual Appalachian Storage Hub Conference
New Date November 5, 2020
Hilton Garden Inn
Southpointe, Canonsburg, PA
8th Annual Utica Downstream
New Date November 19, 2020
New Location: Holiday Inn Belden Village
Canton, OH
8th Annual Midstream PA 2020
New Date: December 10, 2020
Toftrees Resort
State College, PA
Latest facts and a rumor from the Marcellus, Utica, and Permian, Eagle Ford Plays
Biden’s “No Fracking” Double Talk. During a town hall meeting Thursday, Democratic presidential nominee Joe Biden again assured shale producers that he wouldn’t ban fracking if elected. Then, in virtually the same breath, he touted his $2 trillion clean-energy plan, which aims to edge natural gas out of the power mix within 15 years.
EQT Looking to purchase CNX Resources. EQT Corp., the biggest producer of U.S. natural gas, is seeking to acquire rival CNX Resources Corp., according to people familiar with the matter, as M&A accelerates in the distressed shale patch. EQT recently sent a takeover proposal to CNX Resources, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and EQT could opt to not proceed with a potential deal, they said.
EQT Restarts Production; Shut-ins Possible. EQT restarts Appalachia natural gas volumes, but warns more shut-ins possible. EQT Corp., the largest natural gas producer in the Lower 48, said Thursday it has ended another round of curtailments, but management said it won’t hesitate to continue shutting in volumes as low prices warrant. The Appalachian pure-play had curtailed about 400 MMcf/d beginning Sept. 1, cutting 15 Bcf from third quarter production volumes. The company slowly ramped up early this month, and has since turned online all the volumes. EQT previously curtailed 1 Bcf in May and ended those shut-ins by July, as other operators have throughout the basin this year.
Drilling at U.S. Steel Plant in Trouble. Fracking project at US Steel Plant denied local permit extension. A controversial natural gas well at a US Steel Plant near Pittsburgh suffered a setback Thursday night. The East Pittsburgh Borough zoning hearing board denied an appeal by a fracking company to have a lapsed permit for the well reinstated. New Mexico-based Merrion Oil and Gas received a permit from East Pittsburgh Borough for a conditional use to drill and frack a well at US Steel’s Edgar Thomson Works in 2018.
EQT Looks to Sell MVP Capacity. EQT looks to sell Mountain Valley Pipeline capacity as upland line construction gets ready to begin. Charleston Gazette-Mail. The chief financial officer for EQT Corp. announced Thursday that the Pittsburgh-based natural gas producer is in discussions to offload some or all of its Mountain Valley Pipeline capacity. The 303-mile natural gas pipeline from Northwestern West Virginia to Southern Virginia is unfinished. But EQT financial chief, David Khani, said during the company’s third-quarter results conference call with analysts Thursday that EQT doesn’t believe striking a deal is dependent on the pipeline being in service.
Halliburton Feeling Positive. Halliburton Company, the largest fracking services provider in North America, sees activity across the shale patch stabilizing as it reported another net loss this year due to reduced demand for oilfield services.
“The pace of activity declines in the international markets is slowing, while the North America industry structure continues to improve, and activity is stabilizing,” Halliburton’s chief executive Jeff Miller said in a statement.
Halliburton, as well as all other oilfield service providers, has felt the pain from reduced drilling activities across North America and internationally, after exploration and production companies scaled back drilling plans, curtailed production, and removed frac crews and rigs after oil prices and oil demand crashed in March.
Halliburton has laid off workers and cut costs since the spring.
The company’s completion and production revenues slumped by more than half in Q3 compared to the same quarter of 2019, and drilling and evaluation revenues also fell. Revenue in North America—the biggest source of revenues for Halliburton—plunged to US$984 million from US$2.949 billion for Q3 2019. Compared to Q2 2020, North America revenue fell by 6 percent.
However, excluding severance and other charges, Halliburton booked an adjusted net income for Q3 of US$100 million or US$0.11 per diluted share. The adjusted net income per share beat the consensus estimate of US$0.08 income per share of analysts in The Wall Street Journal.
According to Miller, Halliburton is now on track to generate over US$1.0 billion in free cash flow for the year.
Last week, the world’s largest oilfield services provider, Schlumberger (NYSE: SLB), reported its third consecutive quarterly loss this year, and although CEO Olivier Le Peuch warned of a “fragile” near-term recovery, he said that “In North America, the conditions are set for continued momentum, with improving DUC well completion activity in US land and a modest drilling resumption in the US and Canada.”
Renovo Project Back on Track. A series of public permitting ads for the proposed Renovo Energy Center is seen as a positive step for the $800 million natural gas-to-electricity project.
The ads are being run this week in the Lock Haven Express. As explained to the record-online by someone knowledgeable of the project, the ads are related to a new air quality permit project developers submitted some weeks ago, the ads required by the state Department of Environmental Protection to appear three days in a row. Project backers are hopeful the new permit is approved in November or December of this year. Mike Flanagan, president/CEO of the Clinton County Economic Partnership, told therecord-online Monday, “We remain optimistic that this will be a 2021 project.
The power plant project has been in the works since 2014 and was first publicly announced in 2015. The project is expected to have hundreds of construction workers on site for more than two years. There will be approximately 30 permanent jobs when the project is completed. It is planned for the old rail yard site on the north side of Renovo.
Methanol Plant Coming to WV. Gov. Jim Justice announced Monday that a $350 million plant would-be built-in Pleasants County to produce methanol.
West Virginia Methanol Inc. will construct a plant to produce high-purity methanol from natural gas in Pleasants County. The plant is a $350 million investment and will provide 30 full-time jobs not counting the construction jobs needs to build the plant.
“It is another great day for West Virginia,” Justice said during the virtual announcement for the plant Monday afternoon. “We had to create an image of a state that was really moving forward and moving forward the right way. I hope that you think we’ve done it, and we’re going to continue to do it.”
Once the plant is complete, it will produce 315,000 metric tons per year — 900 metric tons per day — of high-purity methanol using 35,000 MBTU per day in natural gas with low emissions.
Lars Scott, executive vice president at West Virginia Methanol, said the Cincinnati-based company chose West Virginia for its abundant natural gas, the need for methanol in the region, and the ability of the region to support more industrial growth.
“One thing that has really attracted us to West Virginia is the people we’ve met and the workforce we know that’s here, experienced, and capable of ultimately becoming a part of our plant,” Scott said. “We think our plant and probably others that either we or people will build will continue to make this a region for more and more chemical and industrial manufacturing plants. We’re looking forward to being a part of that.”
Scott said the plant would be constructed by Haldor Topsoe and Modular Plant Solutions using what he calls an innovative design that will allow the plant to be built using modular pieces the size of shipping containers. Scott said construction could start in the first half of 2021 once the company goes through the state permitting process. The construction period could take anywhere from 27 to 30 months.
Monday’s West Virginia Methanol announcement is the second big economic development news in recent days. Nearly two weeks ago, state officials announced that Virgin Hyperloop would construction its Certification Center in Northern West Virginia.
“We thank you for your investment in the State of West Virginia,” Ed Gaunch, secretary of the Department of Commerce, said Monday. “This is another big day I would say, particularly for the Mid-Ohio Valley region. It’s another rung on our ladder for economic diversity … a very exciting day for us.”
Justice and state officials were joined virtually by representatives of the Pleasants County Development Authority and the Pleasants County Commission, who praised the project as an opportunity for the region.
“Today’s announcement is an important development for Pleasants County and for the Mid-Ohio Valley,” said Diane Braun, executive director of the Pleasants County Development Authority. “We are honored to be a partner with West Virginia Methanol and welcome them to Pleasants County.”
“We give the good Lord credit first for such a blessing,” said Pleasants County Commissioner Jay Powell. “For a small state, we’ve accomplished a lot of great things lately and this is just another one of those things. We had stiff competition. At one point we were told we were an underdog. But … the people of Pleasants County and the people of West Virginia have made this happen.”
According to the Methanol Institute, methanol is a component in many plastics and other petrochemical manufacturing, such as formaldehyde used for glues and resins, acetic acid for polyester fibers and other plastics. Methanol is also used in various fuels for cars, boats, cookstoves, biodiesel, and even fuel cells for electric vehicles. It’s even a key part of waste water treatment facilities.
“I just think about all the possibilities here,” Justice said. “We’re much closer to the markets. Our natural gas is the cheapest. But you’ve got to have flagships. You’ve got to have the first people to put stakes in the ground. Really and truly the downstream possibilities of petrochemical manufacturing are unbelievable.
NatGas the Most Important Fuel for the Decade. Why natural gas is the most important fuel of the next decade. Natural gas could be the single most important energy source of the next decade. For investors who want both profitability and longevity, the natural gas sector is the very first place to look. The math is simple: Big banks are fleeing oil. The coal industry is in terminal decline. And renewable energy is years or even decades away from meeting global demand. So while the multi-trillion-dollar ESG trend is cutting off financing for oil and coal, the global energy transition to renewables is helpless without a bridge fuel.
NatGas #1 in Electricity Production. Natural gas plants produce more electricity than any other source. Natural gas-fired generators accounted for 43% of operating electricity generating capacity in the United States in 2019, according to the U.S. Energy Information Administration (EIA). The generators provided 39% of electricity generation in 2019, and this is more than any other source. Most of the natural gas-fired capacity added in recent decades use combined-cycle technology, which surpassed coal-fired generators in 2018 to become the technology with the most electricity generating capacity in the United States.
PA’s “Commonwealth’s COVID Comeback” Thank you, MDN. Pennsylvania is so lucky to have a group of talented state legislators in both the House and Senate. Last week a group of House Republicans introduced a group of new bills they have dubbed “Commonwealth’s COVID Comeback.” The bills are aimed at bringing more jobs to the Keystone State in the manufacturing and energy sector. One of the bills is squarely aimed at getting the foot-draggers at the Dept. of Environmental Protection (DEP) to approve permits faster.
Shale Is Not Dead. Conoco-Concho deal is a sign that shale is not dead. Remember seven months ago, when a three-way supply war between Saudi Arabia, Russia and the U.S. was about to deal a mortal blow to America’s shale oil industry? Whatever happened with that? All the evidence of late is that there’s life in the oil patch yet. Production from Texas’s Permian Basin in September was 4.49 million barrels a day. That’s down from a peak of 4.9 million in March, to be sure, but higher than in any month prior to September 2019 — and the cut is considerably smaller than those enacted by Saudi Arabia and Russia since they struck an agreement to bring the oil market back from the dead in April.
The consolidation in the U.S. shale patch is picking up pace after the crash in oil prices earlier this year. The latest big transaction in the U.S. oil industry involved the largest independent oil and gas producer ConocoPhillips buying Permian-focused Concho Resources in an all-stock deal valued at US$9.7 billion. The transaction will create a giant shale player with combined oil production in the Permian to rival the likes of Chevron.
FERC Gives OK to Double E Pipe. Double E Pipe given FERC OK to move Permian natural gas. FERC last week approved the 1.35 million Dth/d Double E Pipeline LLC project to transport Permian Basin natural gas. The Double E project would offer firm transportation service from producing areas in the Delaware sub-basin in southeastern New Mexico and West Texas to delivery points near the Waha hub. Project backer Summit Midstream Partners LP expects to secure a notice to proceed with construction within three months.
New Mexico Suffers if Biden Wins. Permian producers eye election’s effect on federal leases. Democratic presidential nominee Joe Biden’s campaign platform includes a promise to ban new oil and gas leasing on public lands and waters if elected in November, a move that could have far-reaching consequences for Permian Basin operators on the New Mexico side of the shale formation. Industry veterans say the devil’s in the details and that Biden’s plan, which aims to fight climate change, has been frustratingly vague to unpack, but that an outright ban could cost tens of thousands of jobs and limit domestic oil and gas production.
Pipelines Benefit TX. TPA releases updated study showing economic benefits of Texas pipelines. Through ongoing operations and construction in 2019 alone, the Texas oil and gas pipeline industry provided more than US$48.6 billion in economic impact, supported more than 238 000 high-paying jobs, contributed an additional US$29.3 billion in additional gross state product, and injected more than US$2.7 billion in state and local government revenues, according to a newly released updated study conducted by the Centre for Energy Commerce at Texas Tech University and commissioned by the Texas Pipeline Association.
EQT 3rd Quarter Financials. EQT, the largest producer of natural gas in the United States, reported a net loss of $601 million or $2.35 in the third quarter 2020, Kallanish Energy reports.
That compares to a loss of $361 million or $1.41 per share in 3Q 2019.
That loss was smaller than had been expected with lower operating costs helping offset a drop in demand and prices in the wake of the coronavirus pandemic.
Sales volumes in the quarter ending Sept. 30 fell about 4% to 366 billion cubic feet of equivalents with about 15 billion cubic feet of production curtailed.
It reported the production curtailed in September was returned on-line starting in early October and all curtailed production has been returned to service, it said in Thursday’s announcement.
It had also curtailed production from mid-May to mid-July.
The Pennsylvania-based company said its average realized price fell 5.7% to $2.33 per thousand cubic feet equivalent.
EQT said its 3Q results “continue to see meaningful step changes in efficiencies, as we continue to find ways to increase performance and enhance results,” said president and CEO Toby Rice in a statement.
The company reported net cash provided by operating activities of $184 million and free cash flow of $47 million in the quarter.
It announced that it is cutting its full-year 2020 capital budget by $50 million at the midpoint of its guidance.
That budget will be between $1.05 billion and $1.1 billion, it said.
In the quarter, the company spent $248 million on its capital budget. That is $55 million lower than 2Q 2020 and $227 million lower than 3Q 2019.
It raised the bottom end of its full-year 2020 adjusted core earnings by $50 million to a range of between $1.55 billion and $1.6 billion.
EQT said it expects full-year sales volumes of between 1.48 billion cubic feet equivalent and 1.5 bcfe, slightly higher than its previous full-year estimate.
It reported that horizontal drilling speeds improved by 19% and completion stages/day improved by 15%, compared to 2Q 2020.
It reported well costs of $660 per foot in the Marcellus Shale in Pennsylvania, surpassing its target price by $70 a foot.
EQT spud 30 wells in the quarter in Pennsylvania and West Virginia, drilled 27, completed 23 and turned in line 22 wells.
In the fourth quarter, it plans to spud 13 wells, drill 25 wells, complete 19 wells and turned in line 26 wells in the two states.
It drilled one Utica Shale well in Ohio in the third quarter and has no fourth quarter plans in Ohio.
EQT’s Environmental, Social and Governance Report. EQT Corporation today announced the release of its Environmental, Social and Governance (ESG) Report, which outlines 2019 operational data and EQT’s initiatives and strategies implemented to continuously improve the way it produces environmentally responsible, reliable, low-cost energy. The report details EQT’s journey to transform into a modern, digitally-enabled organization, highlights EQT’s refreshed strategic initiatives and recent accomplishments within the three ESG pillars, and emphasizes EQT’s renewed commitment to all stakeholders.
“EQT is uniquely positioned to continue to build upon its already industry-leading performance and demonstrate the true benefits of natural gas as we move into the future. As highlighted in the report, EQT had the second lowest upstream emissions intensity among global and domestic energy companies reviewed by Enverus1, and the Marcellus Shale accounted for 16% of energy produced, but only 4% of total U.S. onshore emissions. These results highlight the criticality of natural gas – and in particular regional natural gas – in meeting the energy needs of the future,” said Toby Z. Rice, President and Chief Executive Officer of EQT Corporation.
Rice continued, “Our efforts over the past 15 months have been about retooling a 130-year old company to become a leader in all aspects of our operations, including on the environmental, social and governance fronts. Our report provides a detailed framework on how we think about our business, and how all of the pieces – from how we manage human capital to how we empower our employees with technological capital – are aligned to execute a cohesive operational, corporate and ESG strategy that drives sustainable, long-term value creation. Some of the key highlights of our efforts are noted below. What excites me most is that the results we are reporting today are only just the beginning, and the baseline of what is possible has yet to be established.
“Our alignment with stakeholders is critical in crafting the EQT needed to support the continuation of the environmental, economic and social benefits of natural gas. At EQT, we believe that engagement, transparency and accountability are the cornerstones of establishing that alignment, and I look forward to our collective journey into the future.”
The 2019 report theme, Future Focused, demonstrates EQT’s commitment to continued evolution, with the goal of becoming the operator of choice for all stakeholders.
Highlights of EQT’s 2019 ESG Report include:
Environmental Stewardship
- EQT’s methane intensity is approximately 78% lower than the 2025 target set by the ONE Future Coalition for the production sector
- EQT realized an approximately 23% decrease in Scope 1 greenhouse gas emissions, as compared to 2019
- Approximately 81% of EQT’s produced water was recycled in 2019
In alignment with EQT’s unyielding focus on decreasing completion costs and improving efficiencies while minimizing environmental impact, EQT began electrifying its hydraulic fracturing fleet in late 2019 by using onsite natural gas to power a portion of completions operations
Safety
Zero Tier 1 Process Safety events
- EQT’s 2019 contractor recordable work-related injury rate decreased by 49% compared to 2018
- On average, full-time EQT employees received approximately 11 hours of health and safety training
- Implemented a new training program related to water hauler truck safety and rollover prevention
- More than 500 contractors and 300 EQT field employees completed the training
Community Investment
In 2019, EQT and the EQT Foundation collectively, along with other corporate funds, contributed more than $29 million to local communities. Of that amount:
The EQT Foundation awarded more than $5.1 million in grants, scholarships, and other charitable contributions to non-profit organizations and programs throughout southwestern Pennsylvania, northern West Virginia and eastern Ohio
EQT’s local giving and community sponsorship programs totaled more than $1.0 million
EQT invested $22.9 million to improve roads and associated infrastructure in communities throughout its operating area.
Economic Impact
- EQT’s 2019 activities generated nearly $375 million in state and local tax revenues, supporting state and local governments
- In addition to its direct employees, EQT supported approximately 21,260 ancillary jobs across its operations
- Through direct, indirect and induced activities, EQT produced approximately $2.9 billion of Gross Domestic Product
As the largest producer of natural gas in the United States, EQT will have an influential impact on the continued trajectory of natural gas as a vital energy source. By promoting and investing in sustainable practices, EQT seeks to create sustainable value for its stakeholders and lessen the impact on the environment and communities, all while creating process efficiencies. EQT is one of the lowest-cost producers of natural gas in the United States, and firmly believes its ESG strategy is an integral part of success for the Company and for all stakeholders.
PA Permits October 15, to October 22, 2020
County Township E&P Companies
- No New Permits
OH Permits October 15, to October 22, 2020
County Township E&P Companies
- Jefferson Smithfield Ascent
- Jefferson Smithfield Ascent
- Jefferson Smithfield Ascent
- Jefferson Smithfield Ascent
- Jefferson Smithfield Ascent
- Jefferson Wells Ascent
- Jefferson Wells Ascent
- Jefferson Wells Ascent
WV Permits October 12, to October 16, 2020
- Marion EQT
- Marion EQT
- Marion EQT
- Marion EQT
- Marion EQT
- Marion EQT
- Marion EQT
- Marion EQT
- Taylor Arsenal Resources
- Taylor Arsenal Resources
- Taylor Arsenal Resources
