Utica – Oil & Gas 360

Equitrans confirms early 2021 startup for Mountain Valley natural gas pipeline

August 4, 2020

Reuters U.S. pipeline company Equitrans Midstream Corp (ETRN.N) said on Tuesday it still expects to complete the $5.4 billion Mountain Valley natural gas pipeline from West Virginia to Virginia in early 2021. Mountain Valley is one of several U.S. oil and gas pipelines delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits

New CFO at Gulfport Energy

August 12, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Quentin R. Hicks joins Gulfport Energy as executive vice president and CFO Gulfport Energy Corporation (stock ticker: GPOR), an independent E&P based out of Oklahoma City, has hired Quentin R. Hicks as its new executive vice president and chief financial officer, effective August 26. Hicks is being hired to replace Keri

Summit Midstream Appoints New President and CEO

August 9, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Summit Midstream Partners appoints J. Heath Deneke as president, CEO and board member Summit Midstream Partners LP (stock ticker: SMLP), a master limited partnership located in The Woodlands, Texas, has appointed J. Heath Deneke to serve as its president and chief executive officer, effective September 16, 2019. Deneke was also nominated

Several stalled or presumed dead energy projects are back in the driver’s seat in 2017,

Enbridge to Keep Kentucky Gas Pipe Shut for at Least a Week After Blast

August 6, 2019

From Reuters Canadian energy company Enbridge Inc said the section of its Texas Eastern pipeline in Kentucky that exploded on Thursday, killing one person, will remain shut through at least Aug. 12. Enbridge said in a notice to customers Monday afternoon it is working with federal and state officials investigating the incident and has not estimated when the damaged section

Buyer Revealed in Range’s $634 Million Appalachian Asset Sale

July 26, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Lime Rock Resources purchases 350,000 net surface acres of overriding royalty interests from Range Resources Corporation Lime Rock Resources, the E&P arm of private equity firm Lime Rock Partners, has closed on the acquisition of a non-operated overriding royalty interest (ORRI) in 350,000 net surface acres of the Marcellus shale, representing

Range Sells Appalachian Assets for $634 Million

July 19, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Range sells royalties in 350,000 net surface acres for $600 million, 20,000 non-producing acres for $34 million Range Resources Corporation (stock ticker: RRC), a Fort Worth-based independent E&P, has agreed to sell a 2% proportionately reduced overriding royalty interest in 350,000 net surface acres of its southwest Appalachian Basin assets. The

Williams Trades 35% Stake in Pipelines for $1.33 Billion

June 17, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 New $3.8 Billion JV in the Marcellus/Utica Williams (stock ticker: WMB), an energy infrastructure company headquartered in Oklahoma, completed the formation of a $3.8 billion joint venture today with the Canada Pension Plan Investment Board (CPPIB). As part of the deal, which was first announced back in March, CPPIB trades approximately

Equals to Merge

June 17, 2019

By Tyler Losier, Energy Reporter, Oil & Gas 360 Oilfield service consolidation rolls on C&J Energy Services (stock ticker: CJ) and Keane Group, Inc. (stock ticker: FRAC) have entered into a definitive agreement to combine in an all-stock merger of equals. Upon close, the merger will create a well completion and production services company with a presence in most active

Chesapeake Replaces Utica Oil in Only Two Months

January 9, 2019

Q4 production exceeds expectations by 14 MBOEPD Chesapeake Energy (stock ticker: CHK) announced preliminary Q4 production, significantly exceeding expectations. Chesapeake produced about 463 MBOEPD in Q4, 86.5 MBOEPD of which was composed of oil. Bloomberg reports Chesapeake was expected to produce 449 MBOEPD in Q4, so this result significantly exceeds expectations. While the company’s production fell short of the 537

Cabot Updates Ops, Executes Agreements on Leidy South

October 9, 2018

Houston-based Cabot Oil & Gas (ticker: COG) provided an operational update for its third quarter yesterday, in light of the in-service date delay for the Atlantic Sunrise Project from August 2018 to October 6, 2018. Notable points in the operational update: Expected net production for 3Q 2018 of 2,029 Mmcfe/d. 7% sequential increase in daily net production relative to 2Q

Frac Sand, You Are Now Free to Move about the Marcellus/Utica via Rail and Barge

July 12, 2018

Appalachian region’s first unit train/barge transloading facility up and running In the heart of the Marcellus and Utica shale formations is a project called Long Ridge Energy Terminal. Long Ridge is owned by Fortress Transportation and Infrastructure Investors Ltd (NYSE: FTAI), which is managed by Fortress Investment Group (NYSE: FIG). Long Ridge offers natural gas liquids storage and transloading, and

Eclipse Resources Finds Its Marcellus Wells’ Decline Curve “Much Gentler” than Expected

May 8, 2018

Eclipse Resources Corporation (ticker: ECR) reported a net loss for Q1 2018 of $2.6 million, or $(0.01) per share. Average net daily production was 315.2 MMcfe/d, consisting of 72% natural gas and 28% liquids. The company had realized an average oil price, before the impact of cash settled derivatives, of $56.52 per barrel, a $6.39 per barrel discount to the

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