I attend the Ohio Valley Oil & Gas Expo. Congrats to MPR Supply Solutions and Belmont County Commissioners on another great event. There was considerable positive “buzz” throughout the event. A number told me some companies could not come because they were too busy. What a nice problem.
It was like old times there. The hotels are full with frac crews coming and going throughout the day and night.
Derek Rice was one of the speakers and provide some stats on Rice’s CAPEX in 2017. Here are some of Rice’s highlights:
- Rice is going to spend about $1 billion this year in the Marcellus and Utica with $450 million targeted to the Utica.
- Rice will also be spending $150 million on its midstream business.
- It has 2 rigs in PA and 2 rigs in OH.
No industry event is complete without some rumors.
- Alta Resources, which bought Anadarko, is getting active in the north central PA area. Alta is talking about 3 or 4 rigs in the area by the end of 2017. (RUMOR)
- PGE may have one of its rigs drilling again. (RUMOR)
- The Nexus pipeline will start in August. (RUMOR)
- A Chinese chemical company is interested in the Braskem site in WV. (RUMOR)
- ExxonMobil has a petrochemical team looking at the Appalachian Basin. A different individual told me that ExxonMobil is having problems acquiring land in Texas regardless of the cost. It is committed to spending the money to make sure that totally maximizes the business opportunities in petrochemicals. (RUMOR)