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Expo/Industry events for the next few months

Midstream PA 2018
September 25, 2018
Penn Stater Conference Center
State College, PA

WV Energy Expo 2018
October 3, 2018
Hazel and J.W. Ruby Community Center
Morgantown, West Virginia

Utica Summit
October 10, 2018
Walsh University
North Canton, OH

Shale Insight
October 23-25, 2018
David Lawrence Conference Center
Pittsburgh, PA

For other events visit

Latest facts and a rumor from the Marcellus, Utica, Permian, Eagle Ford, Bakken and Niobrara Shale Plays

WV – China Energy Meeting.  U.S. Rep. David McKinley, R-W.Va., said he remains confident in the promised multibillion dollar investment from China Energy into West Virginia’s shale gas development and chemical manufacturing industries.

McKinley said he and Gov. Jim Justice are scheduled to meet with China Energy representatives Aug. 9 to discuss the future of the investment deal.

Although he said he couldn’t comment on the specifics of the meeting’s agenda, McKinley said he believes the $86 billion investment is still on track.

McKinley said he recently spoke to Justice about the meeting.

“We don’t know whether we are going to meet together with them or separately,” he said. “One of the things that they want to hear from Washington is what we’re doing on the federal scene and how that’s going to interact.”

The main purpose of the meeting is to reassure the Chinese investors that West Virginia remains committed to the deal, McKinley said.

“We’re just trying to get everyone to calm down,” he said. “Their comment to me was, ‘We were dealing with five people. You’re the only one left.’ In China, their culture is about relationships. If you screw up a relationship, it can ruin a business deal very quickly.”

The meeting will hopefully clear up public doubts about the future of the deal, McKinley said.

“This is a bump in the road that didn’t need to happen,” he said. “So, we’ll get past that.”

Former West Virginia Secretary of Commerce Woody Thrasher and China Energy President Lin Wen signed a memorandum of understanding between the company and the state in November in the presence of President Donald Trump and Chinese President Xi Jinping.

Appeals of State permits on Mariner East 2 Ended.  A trio of environmental groups has ended its appeals of state permits issued to Sunoco Pipeline for construction of the Mariner East 2 natural gas liquids pipeline.

Mariner East 2, the parallel Mariner East 2X and Mariner East 1 pipelines are designed to carry propane, ethane and butane from the Marcellus shale play primarily in southwest Pennsylvania, to a Sunoco complex near Philadelphia, in Marcus Hook.

No changes will be made to the 20 permits challenged by the Melcroft, Pennsylvania-based Mountain Watershed Association, the Clean Air Council and the Delaware Riverkeeper Network, according to the state Department of Environmental Protection (DEP).

“DEP is pleased that we were able to reach an amicable agreement with the appellants, resolving all claims related to the issuance of these permits while incorporating new processes to ensure that future pipeline projects learn from the mistakes made by Sunoco in implementing this project,” said DEP secretary Patrick McDonnell, in a statement last Saturday. “To be clear, DEP will continue to conduct vigorous oversight to ensure compliance with the conditions of the permits and will issue enforcement actions as necessary.”

Mariner East 2 and 2X would run parallel for roughly 350 miles across southern Pennsylvania to move ethane, butane and propane from processing facilities in Ohio, Pennsylvania and West Virginia, to Marcus Hook. ME 2, with a designed capacity of 345,000 Bpd, was initially expected to be online at the end of 2016, but construction problems, lawsuits and regulatory snags hindered progress.

Combined with 2X and ME 1, which has also been offline for nearly three months this year, all three pipelines would move 745,000 Bpd and provide an outlet for moving constrained Appalachian liquids, Kallanish Energy reports.

In a settlement in the case approved last Thursday, DEP agreed to make available online all non-privileged, non-confidential permit application materials and supporting documents for pipeline projects such as the Mariner East 2. That includes technical deficiency letters issued by the department and the resulting responses from applicants.

DEP also plans to convene a group of stakeholders — including representatives of DEP, appealing organizations and pipeline proponents — who will offer input as DEP develops “more formalized guidance on pipeline construction.”

The three environmental groups have been invited to each have a representative take part as DEP evaluates changes to the application process for erosion and sediment control permits for earth disturbance related to oil and gas facilities.

DEP fined Sunoco Pipeline $355,000 for violating the state’s Clean Streams Law between May 2017 and February, while it was building Mariner East 2.

Construction of the Mariner East 2 pipeline resulted in “an unpermitted discharge of drilling fluids to wetlands, wild trout streams and high-quality waters at a number of locations in Allegheny, Blair, Cambria, Cumberland, Dauphin, Huntingdon, Indiana, Lancaster and Washington counties” DEP said.

In each instance, Sunoco was required to stop operations, fix the damage and submit proposed modifications of its construction methods for DEP approval. DEP allowed Sunoco to resume operations after approving the proposed modifications.

The terms of the appeal settlement will “lead to increased transparency, better access to permit application materials, additional opportunities for public participation, and improved communication with impacted residents along project routes,” the Clean Air Council said, in a statement.

But the settlement provides only a partial resolution of issues the Clean Air Council has with the Mariner East 2 pipeline, and the group intends to “strongly resist” the project, executive director Joseph Otis Minott told the Pittsburgh Tribune-Review.

Nexus Pipeline Latest Forecast.  The Nexus natural gas pipeline across northern Ohio is on schedule to begin service in the late third quarter of 2018, Kallanish Energy reports.

That assessment came last week from officials of DTE Energy, one of the companies behind the pipeline that is 80% complete, company officials said, in an earnings call with analysts and the media.

All mainline welding and 100% of mainline walling have been completed, said president and chief operating officer Jerry Norcia. He said 16 of 18 planned horizontal directional drilling holes under rivers and highways have been completed for the pipeline.

“We are pleased with how the Nexus project is coming together,” he said.

He added the project “is a long-term project that will help grow this business segment for many years to come.”

The $2.6 billion natural gas pipeline will move Utica and Marcellus natural gas from the Appalachian Basin to the Midwest, the Gulf Coast and Ontario.

The 256-mile pipeline across northern Ohio will transport natural gas from Ohio, West Virginia and western Pennsylvania. It is being developed by Michigan-based DTE Energy and Enbridge, and will transport up to 1.5 billion cubic feet per day.

What Rover Experiences Means for Atlantic Sunrise.  Players in the Marcellus and Utica have been eagerly waiting years for the time when new takeaway out of the basin would come into service and, hopefully, relieve price weakness. Well that time is finally upon us. Energy Transfer’s Rover is in-service (mostly) and a spate of other projects, such as NEXUS, Mountain Valley Pipeline, and Atlantic Coast Pipeline are well under construction. However, the next project slated to come into service will be Williams’ Atlantic Sunrise, with Williams recently reaffirming an August start-up. So, what can we learn about drilling activity and new production for Rover that we can apply to the coming Atlantic Sunrise?

Let’s start by looking at the run-up in drilling activity prior to Rover coming online. While Rover’s construction was hindered by regulatory challenges and multiple delays, there is value in understanding how project shippers responded as the project progressed. The graphic below shows how shippers ramped up drilling activity in the run-up to Rover’s anticipated in-service date. Of all the shippers, Ascent, who holds the most capacity on the project picked up activity the most in the first half of the year, added about 3 rigs.

Shippers on Rover began ramping up drilling activity about 10 months prior to the anticipated summer 2017 in-service date, which is somewhat in-line with the average 2017 spud-to-sales time in the region of about eight months. Following the ramp up however, drilling activity began to fall as Dominion South prices declined with weak shoulder   season demand. We also have to keep in mind that some of this ramp up is possibly attributable to other projects coming online, since Rover’s shippers are subscribed to multiple projects in the region.

Have Atlantic Sunrise shippers been following a similar activity trajectory? Turns out they have. Atlantic Sunrise’s shippers are more consolidated with only three major shippers (Cabot, Chief, and Seneca); however they have shown similar trends to Rover’s shippers in the ramp up of activity. The next graphic shows rig activity levels for each project (indexed to 100) 18 months prior to the start of the project. The x-axis of the graphic shows the number of months before or after the project enters service. Negative numbers are months prior to the start of service, positive numbers represent the number of months after the start of service, and zero represents the month the project started service.

So, like Rover shippers, Atlantic Sunrise shippers have also ramped up their drilling activity. The ramp up in earnest began slightly later than Rover’s and to a lesser degree, which makes sense when considering Atlantic Sunrise’s capacity is less than half that of Rover’s and well productivity differs between Southwest Appalachia for Rover and Northeast Pennsylvania for Atlantic Sunrise.

Drilling is one thing, but what about production from these new takeaway projects? Cabot, who holds 1 Bcf/d of commitments on Atlantic Sunrise, has openly stated they intend to fulfill their commitments initially with a combination of redirected volumes and new production, so we shouldn’t expect a one for one bump in new production with takeaway capacity coming online. This is a similar story to what we saw with Rover. In fact, about a third of the molecules on Rover today are being re-directed off of other pipes. This graphic breaks down the source of flows we have observed on Rover.

How much new production can we expect to see attributable to Atlantic Sunrise coming online? And, possibly more importantly, how will regional prices react with new takeaway coming online? See our upcoming edition of the Northeast Gas Outlook for BTU Analytics’ forecasts of capacity, production, prices, and more.

Bakken Deal.  Independent producer Northern Oil and Gas announced Tuesday the largest deal in the company’s history: a $292.79 million cash and stock deal with W Energy Partners for Williston Basin assets.

The deal includes roughly 6,750 barrels of oil-equivalent per day (Boe/d) of production and 10,600 net acres in the core of the Williston, Kallanish Energy reports.

Total consideration at closing will consist of $100 million in cash and 56.37 million shares of Northern common stock, subject to an equity lock-up feature.

“The W Energy acquisition will add robust drilling inventory under some of the best acreage in the Williston Basin,” said Mike Reger, founder and president of Minneapolis, Minnesota-based Northern. “This asset fits perfectly with Northern’s existing core leasehold and drilling inventory and is highly complementary to our recently announced Pivotal acquisition.

Earlier this month, Northern announced a deal to acquire Williston Basin assets in North Dakota (the Pivotal deal) from a portfolio company of private equity firm Tailwater Capital for $156.47 million in cash and stock.

Pioneer Selling Permian Assets.  Pioneer Natural Resources said Tuesday it has signed a deal with an undisclosed buyer to sell all of its assets in the West Panhandle field in the Texas Panhandle for $201 million.

The assets being sold represent all of Pioneer’s interests in the field, including all producing wells and associated infrastructure.

“Throughout Pioneer’s history, the West Panhandle field has been a core asset that has added significant value for our shareholders and consistently generated excess cash flow for reinvestment,” said Timothy L. Dove, president and CEO of the independent oil and gas producer.

Dallas-based Pioneer is one of the largest operators in the West Panhandle gas field, operating more than 700 wells on more than 246,000 gross acres, according to the company website.

The company owns the Fain gas-processing plant and controls the wells, production equipment and gathering system for its portion of the field.

The deal is expected to result in a pretax gain of $155 million to $170 million, which is expected to be recorded during 2018’s third quarter.

Net production from the West Panhandle field averaged roughly 6,000 barrels of oil-equivalent per day (Boe/d) during the first quarter of 2018, Kallanish Energy learns.

The transaction is expected to close during the third quarter.

XTO – Summit Midstream Permian Agreement.  Summit Midstream Partners has announced a precedent agreement with XTO Energy to become a foundation shipper on the Double E natural gas pipeline, Kallanish Energy reports.

The pipeline will connect the northern Delaware Basin in West Texas and New Mexico to the Waha Hub in West Texas. The pipeline is expected to begin service in 2021.

Its expected capacity is in excess of 1 billion cubic feet per day (Bcf/d), the company said. The project will stretch 134 miles with pipeline that is 30 to 42 inches in diameter.

It will originate in Eddy County, New Mexico, and serve Loving, Reeves and Ward counties in Texas.

XTO, an ExxonMobil subsidiary and one of the most active producers in the northern Delaware Basin, has committed to firm transportation capacity on the Double E Pipeline under a 10-year, take-or-pay agreement that grows to 500 million cubic feet per day (Mmcf/d).

Summit Midstream and ExxonMobil have also executed an equity option agreement that provides ExxonMobil or an affiliate the right to become an equity partner in Double E.

Summit Midstream will handle the development, permitting and construction of the pipeline and will operate the pipeline upon commissioning.

The announcement “deepens and further strengthens our relationship with XTO and broadens SMLP’s service offering for XTO in the Delaware Basin,” said Steve Newby, president and CEO of Summit Midstream, in a statement.

“Double E Pipeline will support the full production potential of acreage in the northern Delaware Basin,” he said.

“In addition to its long-term volume commitment on Double E, we are encouraged by ExxonMobil’s interest in an option for equity participation in Double E,” he said.

His company said it plans to conduct a binding open season later this month for 500 Mmcf/d of additional firm capacity on Double E. When that is completed, the company plans to outline the final scope, cost and timeline for the project.

Other shippers and several financial parties have expressed an interest in the project, and those alternatives are being analyzed, the company said.

Cabot to Increase Production for Pipeline.  The expected opening later this year of a new pipeline will boost production in the Marcellus Shale of a natural gas producer whose regional headquarters is in the Pittsburgh region. Cabot Oil & Gas Corp. (NYSE: COG) said its modest growth in production in the first half will improve in the second half of 2018 with the opening in mid-August of the Atlantic Sunrise Pipeline. The 300-mile natural gas pipeline that goes from the Marcellus Shale fields of northeastern Pennsylvania down through eastern Pennsylvania will become operational in August. That's good news for Cabot, which is an equity partner of the $3 billion project along with Williams and others. While Cabot's production is in northeastern Pennsylvania, its Pennsylvania operations are headquartered at 2000 Park Lane in Pittsburgh.

Cabot 2nd Qtr. Update.  (Thank you, MDN)  One of our favorite Marcellus drillers, Cabot Oil & Gas, issued their second quarter 2018 update on Friday. Some of the highlights include: net income doubling, from $21.5 million to $42.4 million year over year; drilled 24 and completed 23 wells; and Marcellus production was 1.89 billion cubic feet per day (Bcf/d), a new all-time high, up 4% from first quarter 2018. Cabot’s CEO Dan Dinges talked about the company ending its dalliance with the Permian Basin, shutting down “exploratory area #1” in 2Q18, but continuing work on “exploratory area #2”–which is in central Ohio. He said more details on Ohio exploration will be forthcoming in the Q3 update.  

Cabot says they have another 35 years’ worth of drilling to do in the Marcellus, with the current leases they have in place. (2) The “break even” price at which they begin to make money has now gone all the way down to just under one dollar per Mcf. (3) The Company’s plans still count on the Constitution Pipeline getting built. (4) Train 1 of the Lackawanna Energy Center (gas-fired electric plant near Scranton) is up and running and burning 70 Mmcf/d of Cabot’s Marcellus gas, train 2 will be online by October 1st, and train 3 by December 1st.

Range 2nd Qtr. Update.  Production in second quarter of 2018 averaged a record 2.20 billion cubic feet per day (Bcf/d), an increase of 13% compared to Q2 2017, Range Resources reported Tuesday.

That production consisted of 1.50 Bcf/d of natural gas, 104,219 barrels per day of natural gas liquids and 13,301 Bpd of oil and condensate, Kallanish Energy reports.

That makes Range a top 10 natural gas producer in the U.S. and a top 3 NGL producer, it said.

Production in southwest Pennsylvania increased by 30% from Q2 2017 to Q2 2018, to 1.75 Bcf/d. Liquids production in Q2 2018 averaged 117,520 Bpd, a 12% increase over Q2 2017, it said.

Liquids contributed 46% of the company’s total product revenue in 2Q 2018, the company said.

Production is expected to remain flat in the third quarter 2018, it said.

Range Resources, a major player in the Marcellus Shale in the Appalachian Basin, reported a net loss of $79.8 million. That compares to a net gain of $695 million im Q2or 28 cents a share in 2Q 2017.

Earnings, adjusted for non-recurring costs, came to 20 cents a share,

The company, with headquarters in Fort Worth, Texas, posted quarterly revenues of $656.2 million.

“This year is off to a solid start with another quarter of improving cash margins and record production, lifting cash flow per share by 22% over the same period last year,” said CEO Jeff Ventura, in a statement.

He added, “This effort was led by our Marcellus operations, where long laterals and the utilization of existing pads and infrastructure are a tailwind for capital efficiencies, positioning us to deliver growth within cash flow for 2018 and in our five-year outlook.

“At the same time, Range is intently focused on actions to fast-forward the de-levering process swiftly and prudently through asset sales. We have processes underway and believe we can execute one or more successful sales in the current year, which would improve our balance sheet and corporate returns,” Ventura said.

Range turned in line 39 wells in the Appalachian Basin and four in northern Louisiana in Q2 2018. It plans to add 55 wells to service in the second half of this year, it said.

When the Rover natural gas pipeline is completed in Q3, the company will be able to move 70% of its production to the Gulf Coast for higher prices, Range said.

Chesapeake 2nd Qtr. Update.  Chesapeake Energy reported a second quarter 2018 net loss of $40 million, compared to a year-ago profit of $470 million, Kallanish Energy reports.

The company reported Q2 2018 production of roughly 530,000 barrels oil-equivalent per day (Boe/d), up 8% from a year ago, adjusted for asset sales.

Oil production in Q2 was 90,000 barrels per day, up 11%, again adjusted for asset sales.

The company received an average Q2 price of $57.16 per barrel of oil and $2.64 per thousand cubic feet of natural gas. It also got $24.97/Bbl of natural gas liquids.

Revenue slipped from $2.28 billion in Q2 2017, to $2.26 billion in Q2 2018, despite higher commodity prices.

Chesapeake recorded a noncash charge of $251 million for its hedging position. The company had locked in its Q2 2018 oil prices in the high $50/Bbl range.

The company “continues to make significant progress” in reducing leverage, increasing margins and reaching cash flow neutrality, said president and CEO Doug Lawler, in a statement.

The company’s recently announced $2 billion sale of its Utica Shale assets in Ohio will enable the company to reduce its debt, he said.

Chesapeake had $9.7 billion in outstanding debt as of June 30.

The company has recorded better-than-expected oil production for three straight quarters, Lawler said.

In Q2 2018, Chesapeake operated 17 rigs and completed 85 wells. An additional 96 wells were connected to begin production. A year ago, it had 19 rigs at work and completed 107 wells and began service on 94 wells.

The company’s top play for oil in the quarter was the Eagle Ford Shale in South Texas with 61,000 Bpd of production.

The oil-rich Powder River Basin in Wyoming achieved a record rate of 32,000 Boe/d on July 22, Chesapeake reported.

Its top natural gas play was the Haynesville in Louisiana and East Texas with 830 million cubic feet per day of production. The Haynesville topped the Marcellus Shale with 805 Mmcf/d of production in the quarter.

Chesapeake has no rigs at work in the Utica Shale in eastern Ohio and placed seven Utica wells on production in Q2. It plans to move two rigs back into the Utica in the near term and to begin production on 14 Utica wells in Q3 2018 as part of a sales agreement that has not yet closed.

Anadarko 2nd Qtr. Update.  Independent oil and gas producer Anadarko reported this week its second-quarter total products sales jumped 21% from the year-ago total, led by a large increase in oil sales.

The Houston-based company reported total sales for the April-June quarter were $3.29 billion, up from $2.72 billion one year ago.

Breaking the total into individual parts, Anadarko’s largest sales segment, and the part of its portfolio that grew the most year-over-year was oil. Companywide oil sales leaped 59%, to $2.27 billion, from $1.42 billion one year ago.

The price per barrel of oil jumped to $68.43, from $47.19 during the second quarter of 2017.

Sales of natural gas fell 36%, to $203 million, from $319 million one year ago. The price per thousand cubic feet of gas likewise fell, to $2.15/Mcf, from $2.84/Mcf.

Natural gas liquids sales jumped 49% year-over-year, to $318 million, from $214 million. The price per NGL barrel also rose, to $34.88/Bbl, from $25.14/Bbl.

Anadarko’s profit for the quarter climbed out of a sea of red one year ago, to $29 million, from a loss of $415 million one year ago.

One of the main reasons for the turnaround is found in Anadarko’s exploration expense category, where expenditures plummeted to $94 million, from $532 million one year earlier.

Apache 2nd Qtr. Update.  Texas-based Apache Corp. second-quarter results were buoyed by strong oil production in the Permian Basin in West Texas and New Mexico, Kallanish Energy reports.

The company reported Q2 record production of 202,000 barrels of oil-equivalent per day (Boe/d) in the Permian, with total production up 39% and oil up 25% from Q2 2017.

It also reported a 70% increase in production from the Alpine High area of Reeves County in West Texas.

Alpine High net production jumped from 32,000 Boe/d during the quarter, to 54,000 Boe/d by July 31, the company said.

Its U.S. production in Q2 averaged 255,000 Boe/d, exceeding the top of the company’s guidance by 7,000 Boe/d. Overall, company production in Q2 was 464,000 Boe/d.

Apache reported second-quarter net earnings of $195 million, down from earnings of $572 million Q2 2017.

Net cash provided by operations was $1.1 billion. The independent producer spent $833 million on capital projects in Q2, including $116 million on Alpine High midstream. The company is also planning longer laterals and larger stimulations at Alpine High.

“Apache’s operational and strategic delivery has been exceptional through the first half of 2018,” said president and CEO John Christmann IV, in a statement. “Apache is executing extremely well on all fronts.

“We are proactively managing our costs, operating at an activity level that maximizes capital efficiency and we have established considerable momentum that is now showing up in our results,” he said.

The Permian Basin is the company’s primary growth driver, with oil production up by more than 20,000 barrels per day in the Midland and Delaware basins year-over-year, and up 6,000 Bpd over Q1 2018 in both basins, he said.

In Q2, Apache averaged 17 working rigs and completed 70 gross-operated wells in the U.S. The company brought online 22 Midland Basin wells and 41 Delaware Basin wells.

The company has realized significant capital efficiency improvements, reducing cycle times and cutting costs by $400,000 per well in the Permian Basin.

Gulfport 2nd Qtr. Update.  Oklahoma-based Gulfport Energy on Thursday reported second-quarter 2018 net income of $11.3 million, on revenue of $252.7 million, as Ohio and Oklahoma production grew by 28% from a year ago, Kallanish Energy reports.

That compares to net income of $105.9 million in Q2 2017. It reported adjusted net income of $57 million, adjusted EBITDA of $213.6 million, and adjusted oil and gas revenue of $329.6 million.

Capital spending in 2018 will remain between $750 million and $815 million.

“Gulfport had a solid second quarter,” said CEO and president Michael G. Moore, in a statement.

Production in Q2 averaged 1.33 billion cubic feet-equivalent per day (Bcfe/d), up from 1.04 Bcfe/d in Q2 2017. That's an increase of 28.1%. Production was 89% natural gas, 7% natural gas liquids and 4% oil.

Gulfport’s natural gas production increased by 31% from a year ago, to 108 billion cubic feet, while oil production increased by 14%, to 744,000 barrels.

The company in Q2 drilled 9.3 net Utica wells in Ohio and 5.2 net SCOOP wells in Oklahoma and turned to sales 15.5 net Utica wells and 0.9 net SCOOP wells.

The company has two rigs working in the Utica Shale and two rigs in the SCOOP.

Gulfport said it expects Q3 production to average 1.36 Bcfe/d.

It is predicting full-year 2018 production of 1.32 Bcfe to 1.34 Bcfe/d, an increase of 21% to 23% from the average daily net production of 1.09 Bcfe/d in 2017.

Gulfport also reported it has repurchased 10.5 million share of the company’s stock at a weighted-average share price of $10.47. through Aug. 1. That has cost roughly $110 million, with another $90 million earmarked for additional purchases.

It also reported it has hedged 948 BBtu per day of natural gas at $3.05 per MMBtu in 2018, and 1,154 BBtu/d at $2.81/MMBtu in 2019.

Antero 2nd Qtr. Update.  Denver-based Antero Resources reported record second-quarter production of 2,520 million cubic feet-equivalent per day (Mmcfe/d), Kallanish Energy reports.

That volume was up 15% from one year ago, the company said. Antero said 27% of that production was liquids.

Total liquids production in Q2 2018 was 113,581 barrels per day, an 11% increase from Q2 2017. Liquids contributed 38% of total product revenue before hedging, Antero reported.

Company officials are still predicting a 20% jump in production in 2018, even as it cuts back on the number of completion crews in the field for the rest of the year, said chairman and CEO Paul Rady.

The completion of the Rover natural gas pipeline and its Sherwood Lateral will provide a major financial boost to Antero, he said.

In Q2 2018, the company turned 25 Marcellus wells to sales and drilled 22 additional Marcellus wells.

It set a state of West Virginia record for the longest lateral drilled to date, at 15,100 feet. Antero also placed five Utica wells in Ohio to sales and spud six Utica wells.

Antero said it expects to place 65 to 75 wells, including 15 Utica wells, to sales in the Q3. That compares to the 51 wells placed to sales in the first six months of 2018.

The company said it has halted its Ohio drilling for the rest of the year, as it shifts to the liquids-rich Marcellus play. It intends to resume Ohio Utica drilling in 2019, it said.

Antero, a major player in the Appalachian Basin, reported a Q2 net loss of $136 million, compared to a net loss of $5.1 million one year ago.

Operating revenue in Q2 2018 totaled $989 million, compared to $790 million a year earlier.

Antero reported it experienced production curtailments due to what it called “tightness in the local crude trucking takeaway market.” It is a problem industry-wide, the company said.

It said the company’s crude buyers have been challenged to secure an adequate number of licensed trucks and drivers to move Antero’s growing production.

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PA Permits July 26, to August 2, 2018

County                                   Township                                          E&P Companies

  1. Bradford                                       Canton                                               Rockdale
  2. Bradford                                       Canton                                               Rockdale
  3. Bradford                                       Canton                                               Rockdale
  4. Potter                                            Ulysses                                              JKLM
  5. Potter                                            Ulysses                                              JKLM
  6. Washington                                East Finley                                        EQT
  7. Wyoming                                     Windham                                           Chesapeake
  8. Wyoming                                     Windham                                           Chesapeake
  9. Wyoming                                     Windham                                           Chesapeake

OH Permits for weeks ending July 28, 2018

County                                   Township                                          E&P Companies

  1. Jefferson                                     Cross Creek                                      Ascent
  2. Noble                                           Jefferson                                           Triad Hunter
  3. Noble                                           Jefferson                                           Triad Hunter
  4. Noble                                           Jefferson                                           Triad Hunter

Joe Barone 610.764.1232
Vera Anderson 570.337.7149

Northeast Supply Enhancement