BusinessCreator, Inc.

NewsLetters

Expo/Industry events for the next few months

Utica Midstream
June 8, 2016
Pro Football Hall of Fame
Canton, OH

http://www.uticasummit.com/

DUG East
June 21 – 23, 2016
David L. Lawrence Convention Center
Pittsburgh, PA

http://www.dugeast.com/

Latest facts and a rumor from the Marcellus and Utica Shale

  • WV Cracker Plant Could Be Happening Soon.  A potential new player (we think a Japanese company because the Governor was hosting a number of them a couple of weeks ago) is in discussions – hard – at acquiring the Braskem site in WV with early start up. Braskem wants out due to a number of issues, not only the issues in Brazil but also in placing the newly started Mexican output. There may be a 70% chance this will occur in 2016. If it goes through, Braskem may retain some minority rights in new facility. This also ties into the acquisition of Braskem negotiated ethane contracts and state tax breaks. But having Braskem as minority partner in any definition is the sticking point. State of WV wants it to happen. So many players involved leads to the uncertainty. (RUMOR)
     
  • Last Week’s Rumor about PA DEP Secretary Quigley Was True.  (Thank you, Capitolwire.)

    HARRISBURG (May 19) - Gov. Tom Wolf’s administration is looking in to whether Environmental Protection Secretary John Quigley sent a private email to environmental advocacy groups criticizing both those groups and the governor regarding regulations being pursued by the DEP.

    And at least one state senator is helping them.

    "I can only confirm that serious concerns have been raised about the conduct of DEP Secretary John Quigley," Senate Environmental Resources and Energy Committee Minority Chairman John Yudichak, D-Luzerne, told Capitolwire in email Thursday. “Currently, I am working with the administration to secure all relevant facts before I make any further comment on this sensitive matter."

    While sources confirmed the existence of the private email, Capitolwire has been unsuccessful in obtaining a copy. The email is said to have been critical of the environmental groups for not doing enough to support the Chapter 78 oil and gas regulations, as well as new clean air regulations. It was equally harsh toward Wolf for pausing the regulations in an attempt to address some of the issues raised by legislators, sources said.

    When asked about the situation, Wolf spokesman Jeff Sheridan responded Wednesday evening by email, “The administration is looking into this matter.”

    Multiple sources outside the administration said Quigley hasn't been the best fit with the rest of the Wolf administration.

    A message seeking comment was left with Quigley's spokesman, but was not returned.

    An additional twist to this situation is that not long after Quigley allegedly sent the email to environmental groups, radio ads were run in the Scranton and Wilkes-Barre markets critical of two Democratic state senators: Yudichak and Sen. John Blake, D-Lackawanna.

    Between April 29 and May 8, the Natural Resources Defense Council Action Fund ran a 60-second radio ad claiming Yudichak and Blake “voted to hold up Governor Wolf’s proposed clean power plan.”

    Capitolwire attempted to reach the NRDC as well as several other environmental advocacy groups but was unsuccessful.

    That Yudichak was one of the targets of the ads isn’t really a surprise. He hasn’t seen eye-to-eye with the DEP regarding the regulations.

    During an April 12 meeting of the Senate Environmental Resources and Energy Committee, Yudichak voted in favor of advancing to the full Senate for consideration bills that would delay or prevent the rules. During that same meeting, the committee also voted to disapprove the Chapter 78 oil and gas well regulations prior to their consideration by the Independent Regulatory Review Commission – Yudichak also voted for the disapproval.

    In an April 12 Pittsburgh Post-Gazette story, Yudichak is quoted as saying he supports strong oil and gas regulations but the regulatory process was “circumvented in many respects” by DEP.

    “We need to be guided by collaboration, communication and consistency,” said Yudichak. “Unfortunately, that process was not adhered to.

    The committee vote on Senate Bill 1195 was 10-1. Committee Democrats Blake and Sen. Daylin Leach of Montgomery County also voted to advance the bill. Sen. Andy Dinniman, D-Chester, was the only ‘no’ vote.

    SB1195 would extend, from 100 days to 180 days, the amount of time the General Assembly would have to review Pennsylvania’s compliance plan for the Federal Clean Power Plan before submission to the Environmental Protection Agency, which is slated for September 2016. The language is similar to one of the items Wolf found objectionable in one of the earlier versions of the 2015-16 Fiscal Code, which he ultimately vetoed because of that and other provisions he opposed. A Senate source said the bill was put on hold by GOP leaders this week in hopes of working out some type of agreement with the Wolf administration.

    The committee on April 12, by way of an 8-3 vote, also reported Senate Bill 1011, which was one of the other prior fiscal code provisions rejected by Wolf, and which seeks to push the reset button on new Chapter 78 oil and gas well regulations. Yudichak voted in favor of SB1011, but Blake, Leach and Dinniman opposed the bill.

    Also on April 12, the House Environmental Resources and Energy Committee voted to disapprove the DEP’s Chapter 78 regulations.

    Those regulations have since been approved by the Independent Regulatory Review Commission, but the standing committee disapproval votes on April 12 enabled the House to introduce a concurrent resolution to stop the regulations, assuming they win approval from the General Assembly and the governor. However, House GOP leaders have delayed consideration of the resolution to allow for discussions with the Wolf administration about how to address concerns raised about the regulations.

    Prior to joining the Wolf administration, Quigley had a penchant for expressing his views on his “A Green Thing” blog, which included his musings on various environmental topics. Quigley’s blog comments came up during his Senate confirmation hearing in June 2015 to read about that. Various sources have indicated since becoming DEP head, Quigley has sent more than one email from a private account to environmental groups.
     
  • Range Does Deal to Expand Outside the Appalachian Basin.  Range Resources is buying fellow oil and gas producer Memorial Resource Development for $3.3 billion plus $1.1 billion of debt, expanding operations in the Appalachian Basin and U.S. Gulf Coast regions.

    Range will absorb the smaller Houston, Texas-based driller, adding its Louisiana operations to existing acreage and wells across Pennsylvania, Texas and Oklahoma.

    “This acquisition will give Range strategic positioning in both the Appalachian and Gulf Coast regions, providing greater marketing capabilities and opportunities, with added beneficial exposure to growing natural gas demand,” said Range CEO Jeff Ventura. “The transaction is also accretive to our cash flow, bolsters our credit profile and enhances the overall portfolio.”

    Memorial Resource Development's shareholders will receive 0.375 of a Range share for each share they hold, Kallanish Energy understands.

    The all-stock deal is valued at $15.75 per share, a 17% premium to Memorial Resource Development's Friday close.

    "This transaction combines two complementary companies with a deep, stacked pay portfolio of assets in two leading unconventional resource basins,” said Jay Graham, Memorial Resource’s CEO.

    About 95% of Range’s production comes from its Appalachian operations. The Fort Worth, Texas-based producer is considered by many the Godfather of Marcellus Shale development.

    Memorial Resource Development's shareholders are expected to own about 31% of Range after the deal closes, expected in the second half of the year.

    Memorial Resource Development will also have the right to nominate an independent director to the Range board.

    Per Cramer on CNBC, this deal allows Range to purchase NatGas in Louisiana where the economic activity can use NatGas.  Also there are exporting opportunities for NatGas in Louisiana.
     
  • Constitution Pipeline Challenges NY DEP.  Constitution Pipeline Co. said Monday it’s appealed the New York State Department of Environmental Conservation’s (NYSDEC) refusal to grant the company’s request for a water quality certificate for its namesake line.

    The appeal was filed with the U.S. Circuit Court of Appeals for the Second Circuit and contends the refusal is arbitrary and capricious and constitutes an impermissible challenge to the Federal Energy Regulatory Commission’s Certificate of Public Convenience and Necessity, issued in December 2014.

    Also Monday, the company filed an action with the U.S. District Court for the Northern District of New York seeking a declaration that the State of New York’s authority to exercise permitting jurisdiction over certain other environmental matters is preempted by federal law.

    “Upon its review of the evidence, we believe the court will agree that this permit denial was arbitrary and unjustified and improperly relies on the same failed arguments that the NYSDEC made during the FERC certificate proceeding regarding the pipeline route and stream crossings,” the project sponsors said, in a joint statement.

    The sponsors added NYSDEC’s allegation it did not receive the necessary information is inaccurate as demonstrated by extensive and comprehensive technical materials submitted by Constitution for the record, Kallanish Energy learns.

    “We are ultimately seeking to have the court overturn this veiled attempt by the state to usurp the federal government’s authority and essentially ‘veto’ a FERC-certificated energy infrastructure project,” the project sponsors said.

    Constitution Pipeline Co. is owned by subsidiaries of Williams Partners, Cabot Oil & Gas, Piedmont Natural Gas and WGL Holdings.

    The 125-mile project will connect Marcellus Shale play natural gas production in northeastern Pennsylvania with northeastern markets during the second half of 2017.
     
  • Vantage Outbids Rice for Alpha’s Assets.  Rice Energy lost its bid for the Greene County gas assets of bankrupt coal miner Alpha Natural Resources.

    The Canonsburg-based company that has had a relationship with Virginia-based Alpha for years — the two partnered on another gas development venture in 2010 and Alpha’s CEO has served on Rice’s board — forged an agreement with Alpha to serve as the $200 million floor bid in an auction of Alpha’s gas holdings in southwestern Pennsylvania.

    But it was Vantage Energy that snagged the properties, which include 27,000 acres in Greene County, for $339 million, Alpha confirmed Tuesday.

    Vantage Energy, which is based in Colorado and has offices in Washington, PA, is an independent oil and natural gas company targeting shale development, particularly in the Marcellus Shale. The company already has a position in Greene County.

    In return for serving as the so-called stalking horse bidder, Rice will get a $2 million breakup fee and another $1.5 million to cover its expenses. The company already held a stock sale in April to raise money to pay for the acquisition.

    “While we were not surprised with the interest the [assets] generated from operators in the region, the strategic sale of these assets will only help to maximize the value of the estate for the benefit of all stakeholders,” said Alpha’s Chairman and CEO Kevin Crutchfield. “We continue to forge ahead toward the final phase of our restructuring.”

    U.S. Bankruptcy Court approval is required before the deal can close. A hearing is scheduled for May 26.

    Alpha filed for bankruptcy protection in August, vowing to emerge as a stronger, more focused company.

    Gas is only a small fraction of Alpha’s portfolio that was scheduled for the auction block on Monday, and the only one that actually made it there.

    Alpha, which filed for bankruptcy protection in August, had planned to auction off its core coal assets as well, including the Cumberland Mine in Greene County, and operate the remaining assets to generate enough cash to cover their liabilities.

    A group of its creditors made a stalking horse bid of $500 million for all the core assets, then lowered it to $325 million when gas was taken out of the equation.

    But on Friday, Alpha said in a court filing that the coal auction was cancelled, despite reports that other coal companies and an environmental organization had made more lucrative advances for the core mines. The company accepted the stalking horse bid for the coal assets in Friday, claiming that its creditors had the only “qualified” bid on the table.

    The U.S. Trustee assigned to this case has questioned the logic and viability of Alpha’s plan of splitting the company in this way, saying it’s not clear which non-core assets would remain with Alpha and how they could be expected to make enough money to cover the cost of remediation.

    Instead of reorganization, the trustee said in a public filing, it’s more appropriate to call this strategy “liquidation.”
     
  • McClendon’s American Energy Partners Shutting Down.  American Energy Partners, the independent producer founded in 2013 by Chesapeake Energy co-founder Aubrey McClendon, is closing, the company’s leadership team confirmed.

    Nearly half the Oklahoma City, Oklahoma-based company’s 100 employees were laid off Wednesday, and the remaining employees have begun closing the company through a process expected to take two to four months, the Daily Oklahoman newspaper reported, citing a source knowledgeable of the situation.

    American Energy Partners has shrunk in recent months as its oil and gas exploration units were spun off into several subsidiaries.

    The shutdown is the first step in what is anticipated to be an extended process of untangling the estate of McClendon, who died March 2, in a fiery car crash one day after he was indicted on one count of conspiring to rig the price of oil and gas leases.

    “After considerable thought and discussion with [founder] Aubrey McClendon’s family and our employees, we have made a collective decision to wind down the operations of American Energy Partners LP,” the company’s leadership team said, in a statement.

    The statement was attributed to Scott R. Mueller, chief financial officer, Ryan A. Turner, chief investment officer Tom J. Blalock, chief legal officer.

    At its peak, American Energy Partners raised more than $15 billion and employed about 800 people to create new exploration companies, Kallanish Energy reports.

    Since McClendon’s death, the company has been led by Mueller, Turner and Blalock, who also is executor of McClendon’s estate.

    “We are proud to have had the opportunity to work with Aubrey,” the leadership team said. “Through his strategic vision and tireless efforts along with the most dedicated employees in the industry, the numerous businesses we founded together have shown tremendous resiliency in the face of the historically difficult industry environment.”

    Over the past two years, American Energy Partners created five independent, stand-alone companies, which are not affected by American Energy Partner’s actions.

    The former American Energy Partner companies are Ascent Resources, Whitestar Energy, Permian Resources, Traverse Midstream and Heritage Resource Management. Each of those companies has its own management team and employees and is no longer affiliated with American Energy Partners.

    McClendon’s estate has been entered into probate and a court in Oklahoma has begun to take petitions and hold hearings in the matter. His will was filed last month with the court.

    Ascent Resources has received a permit this week to drill in Belmont County, OH.  It’s good to see that Ascent is moving forward.
     
  • Williams Looks to Expand Transco Interstate in the Northeast U.S.  Williams Partners said that it initiated a binding open season on Monday through June 9, for expansion of the Transco interstate pipeline, a project known as the Northeast Supply Enhancement.

    The Northeast project is designed to provide 400 million cubic feet per day (MMcf/d) of firm natural gas transportation capacity from Transco’s Compressor Station 195 in York County, Pennsylvania, to the existing interconnection known as Rockaway Transfer Point, located offshore New York City.

    Williams is proposing to add roughly 35 miles of pipeline and new compression to Transco, including 22 miles of 26-inch pipe in New York Bay, 3.5 miles of 26-inch pipe in Middlesex County, New Jersey, and 10 miles of 42-inch pipeline in Lancaster County, Pennsylvania.

    Prior to the open season, Williams executed agreements with subsidiaries of National Grid, the largest distributor of natural gas in the Northeast, for firm transportation service under the project, Kallanish Energy reports.

    Once complete, the project will help meet the growing natural gas demand in the Northeast, including the 1.8 million customers served by National Grid in the New York City boroughs of Brooklyn, Queens, Staten Island and Long Island.

    “Williams’ Northeast Supply Enhancement project expands on our commitment to further improve reliability, make available much-needed gas capacity to support job growth, and help reduce our carbon footprint,” said Ken Daly, president of National Grid New York.

    “As demand for natural gas increases, the importance of the associated energy infrastructure becomes even more critical,” said Rory Miller, senior vice president of Williams Partners’ Atlantic-Gulf operating area. “The Northeast Supply Enhancement project will add critical infrastructure necessary to meet the region’s growing demand for natural gas while helping reduce air emissions.”

    Transco plans to place the project into service for the 2019-2020 winter heating season.
     
  • Williams Fighting ETE to Keep the Deal Moving Forward.  Williams Cos. said its potential merger partner, Energy Transfer Equity (ETE), is breaching their deal “through a pattern of delay and obstruction” and asked Delaware Chancery Court to prevent the pipeline operator from terminating the deal.

    ETE, which offered $37.7 billion for Williams last September, said May 5 the takeover is in danger of falling apart because it hasn’t secured a necessary legal opinion confirming the acquisition would be tax-free to shareholders.

    Williams told Delaware Chancery Court ETE should be barred from using its failure to get the ruling as justification for backing out of the deal, according to a statement released Friday.

    “ETE has breached the merger agreement through a pattern of delay and obstruction designed to allow ETE to avoid its contractual commitments,” Williams said, adding that it hasn’t changed its support for the accord.

    The dispute marks the latest obstacle in a proposed merger whose value has plunged with the stock prices of the two potential partners.

    Williams shares have dropped 47% since the deal was announced on Sept. 28, while Dallas, Texas-based Energy Transfer is down 38%.

    The deadline to complete the deal is June 28, when either party can walk away from the deal if it isn’t complete, Kallanish Energy reports.

    The pipeline giants have been fighting each other in court for different alleged breaches to the terms of their agreement. Williams also accused Energy Transfer CEO Kelcy Warren of “maliciously orchestrating” a unit offering that would guarantee him more than $200 million a year in payments at the expense of other investors.
     
  • ETE’s Response to Williams Law Suit.  The war of words between merger partners Williams and Energy Transfer Equity (ETE) continues.

    In the latest round of rhetoric, ETE released a statement from Kelcy Warren, chairman of its general partner, in response to last Friday night’s announcement by Williams it filed an action in the Delaware Chancery Court seeking a declaratory judgment and injunction preventing ETE from terminating or the merger between the companies announced last September.

    “ETE is disappointed that Williams, rather than seriously engaging in discussions regarding the existing transaction, has chosen to file a third separate lawsuit in the last six weeks regarding our pending merger,” Warren wrote.

    “The filing of these lawsuits has contributed materially to the very delay in completing the Securities and Exchange Commission’s review of the proxy statement/prospectus and proceeding towards a stockholder meeting that Williams complains about in its most recent suit.”

    Warren wrote he/ETE believe even if Williams’ stockholders approve the merger, the merger will still not be able to close due to a failure of a material closing condition given the risk Latham & Watkins won’t be able to deliver a tax-related opinion.

    “Accordingly, we believe Williams’ latest lawsuit is an attempt to gain undue leverage in and undermine future discussions regarding the pending merger and will only result in further delay,” Warren wrote.

    Last September, ETE had valued its acquisition agreement with Williams at $33 billion and had agreed to pay $6 billion in cash to Williams as part of the cash-and-stock acquisition, Kallanish Energy reports.

    However, due to the sharp decline in oil prices, shares of both companies plunged more than 60% and the offer plummeted to roughly $14 billion — with ETE still having to pay the cash amount.

    The $6 billion of cash has made this pending merger a nightmare for Energy Transfer Equity given that borrowing this amount in a down market will leave the company overleveraged.

    Williams remains eager to do the deal since, if abandoned, no deal would cost its shareholders $10 billion in lost value.
     
  • Could Fracking Be Coming to NY?  A proposal to hydraulically fracture a natural gas well using gelled propane rather that water could be used in anti-fracking state New York, Kallanish Energy learns.

    An application was filed last week with the New York State Department of Environmental Conservation, and comes after Governor Andrew Cuomo’s administration officially banned large-scale hydraulic fracturing last June.

    The state announcement ended a seven-year review process that drew hundreds of thousands of public comments and sharply divided the general public.

    “We are outside of the state’s ban,” Tioga Energy Partners legal counsel Adam Schultz told the Ithaca Journal newspaper. “The state banned high-volume [more than 300,000 gallons of fluid] hydraulic fracturing, but that’s not what we’re doing.”

    Tioga Energy Partners is the producer working with property owner the Snyder Farm Group on the drilling application.

    The Snyder group is a collection of five Tioga County farm families who have leased land for natural gas development. The group is seeking to develop a 53-acre property in the Town of Barton, Tioga County, about 25 miles south of Ithaca and 30 miles east of Elmira. The well pad would occupy about 31/2 acres.

    Tioga Energy Partners said it would use gelled propane and sand to hydraulically fracture Marcellus Shale.

    “What the state studied, and eventually decided to ban, was the use of high volumes of water for fracturing purposes,” Schultz said. “This process that we are proposing doesn’t use any water, the fracturing takes place using liquefied petroleum gas.”

    The groups are seeking to develop the well under a New York state Generic Environmental Impact Statement on the Oil, Gas and Solution Mining Regulatory Program from 1992.
     
  • Wayne County, PA Landowners Sue Delaware River Basin Commission. Frustrated by a six-year moratorium on natural gas drilling imposed by the Delaware River Basin Commission, the owners of 180 acres in Wayne County filed a federal lawsuit against the agency.

    Attorneys for the Wayne Land and Mineral Group LLC contend the commission is overstepping its authority in requiring them to seek its approval before a gas well can be drilled on their land. They ask a judge to declare that construction of a well pad does not constitute a “project” under commission rules, which would free them to lease their land to companies interested in trying to extract natural gas from the Marcellus shale.

    The DRBC is a regional body comprised of representatives from Pennsylvania, New York, New Jersey and Delaware tasked with protecting waterways within the river basin. It is governed by a compact that requires all entities seek commission approval for any project or activity that would impact water quality and/or quantity within the basin.

    The lawsuit, filed Tuesday in federal court in the middle district of Pennsylvania, stems from a long-standing dispute between landowners and the commission, which in 2010 temporarily banned the drilling of gas wells until it develops regulations governing them.
     
  • Another Big O&G Deal – Technip SA and FMC Technologies.  Determining bigger is better in today’s slumping oil and gas industry, oilfield services giants Technip SA and FMC Technologies agreed to merge in an all-stock deal, Kallanish Energy reports.

    TechnipFMC will be worth $13 billion, based on the most recent closing prices for each company.

    The new oil-services company will be based in Paris, Houston, Texas and London. Technip CEO Thierry Pilenko will be executive chairman while Doug Pferdehirt, president and chief operating officer of FMC, will serve as CEO.

    Each company’s shareholders will own close to 50% of the combined group.

    “This transaction will allow us to deliver even greater benefits to our customers through a broadened portfolio that provides a unique set of integrated technologies and competencies that are underpinned by a history of developing rich partnerships and creating customer success,” Pferdehirt said.

    Oilfield services have been among the hardest-hit energy-related companies due to the slump in crude oil and natural gas prices having caused exploration and production companies to sharply defer or cancel projects to cut costs.

    Halliburton and Baker Hughes, the world’s second- and third-largest oil-service providers, tried to merge before calling off the planned deal earlier this month after meeting stiff resistance from regulators in the U.S. and Europe.

    “Together, TechnipFMC can add more value across subsea, surface and onshore/offshore, enabling us to accelerate our growth,” Pilenko said.

    Technip and FMC had combined sales of roughly $20 billion in 2015 and earnings before interest, taxes, depreciation and amortization (EBITDA) of about $2.4 billion, according to the companies. They had a total order backlog of $20 billion at March 31.

    Technip and FMC expect the deal to close in early 2017.

    Will the DOJ allow this deal to go through after killing the Halliburton – Baker Hughes?
     
  • Panda Power Open Plant in Lycoming County, PA.  Panda Power IS in final testing in Lycoming County, PA.  PIOGA scheduled a tour at the Panda Power plant last week for members to tour the facility.  In addition to the tour Panda representatives gave an overview of the plant that will operate at a 60%+ efficiency.  
     
    • Plant expected to make a significant contribution to Central Pennsylvania
    • Approximately 27 direct jobs to operate the plant and 45 indirect jobs to support the plant when in full operation
    • Utilize the latest, most advanced emissions-control technology, making it one of the cleanest natural gas-fueled power plants in the United States
    • Be cooled with air rather than water — not drawing water from, or discharging water into, the Susquehanna River — eliminating potential impacts to sensitive species in the watershed
    • Minimize sound using special blade designs, low-output motors and building enclosures
       
  • NatGas Power Plant Coming to Guernsey County, OH.  Company and Guernsey County officials have unveiled plans for a new power plant to be constructed in Guernsey County to generate electricity for portions of a three-state area.

    The Guernsey Power Station will be constructed in southern Guernsey County and will begin generating power within four years, according to officials of Apex Power Group LLC, which is developing the plant.

    Powered by the very latest technology, the plant will be both clean and efficient. It will have a projected generating capacity of 1,100 megawatts.

    So, what does that mean?

    Guernsey Power Station, LLC will provide enough power to serve roughly a million, average-size homes, company officials said.

    At its core, the plant will consist of two, state-of-the-art, natural gas-fired, combustion turbine generators and one steam turbine generator. The steam turbine generator will be fired by heat recovered from the combustion turbines, resulting in improved electric-generating efficiency and reliability for Ohio.

    The planned construction will be in Valley Township alongside Interstate 77, approximately six miles south of Interstate 70.

    The project is designed to support both current and future electrical demand in areas of Ohio, Pennsylvania and West Virginia, as all three states are serviced by regional transmission operator PJM Interconnection. In addition to employing the latest technologies, the generating plant will benefit from the abundance of local natural gas from the Utica and Marcellus shale, providing clean, environmentally-friendly power at a competitive price, officials said.

    Norm Blanchard, Executive Director of the Community Improvement Corporation (CIC), said he is delighted by the announcement.

    “We think it’s great that Apex Power Group recognized the potential here in Guernsey County,” Blanchard said. “Having the Rockies Express interstate gas pipeline bisect their proposed site, along with 765kV electric lines overhead, has made this the perfect location for the project.”
     
  • Bankruptcies This Week.  Halcon

Visit our Blog for daily updates on what’s happening in the oil & gas industry.

http://www.shaledirectories.com/blog/

Rig Count

  • Baker Hughes Rig Count the week of May 20, 2016
     
  • PA
    • Marcellus 16 unchanged
  • Ohio
    • Utica 10 unchanged
  • WV
    • Marcellus 10 unchanged
  • TX
    • Eagle Ford – 31 down 2
  • TX & NM
    • Permian Basin – 137 up 3
  • ND
    • Williston – 23 down 1
  • CO
    • Niobrara – 16 up 1
       
  • TOTAL U.S. Land Rig Count 375 down 7

PA Permits for May 12, to May 19, 2016

       County        Township       E&P Companies

1.    Armstrong    South Buffalo    Snyder Bros
2.    Armstrong    South Buffalo    Snyder Bros
3.    Armstrong    South Buffalo    Snyder Bros
4.    Armstrong    South Buffalo    Snyder Bros
5.    Butler           Concord           Rex
6.    Butler           Concord           Rex
7.    McKean        Sergeant         Samson
8.    Washington    Carroll            EQT
9.    Washington    Carroll            EQT
10.   Washington    Carroll           EQT
11.   Washington    Carroll           EQT
12.   Washington    Hanover        Range
13.   Washington    Hanover        Range                    

OH Permits for weeks ending May 14, 2016
       County        Township    E&P Companies

1.    Belmont        Colerain       Ascent Resources
2.    Belmont        Goshen        Rice
3.    Belmont        Goshen        Rice
4.    Belmont        Goshen        Rice
5.    Belmont        Richland       Gulfport
6.    Belmont        Richland       Gulfport
7.    Belmont        Richland       Gulfport
8.    Belmont        Richland       Gulfport

Joe Barone jbarone@shaledirectories.com 610.764.1232
Vera Anderson vera@shaledirectories.com 570.337.7149

Northeast Supply Enhancement