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Shale Gas News – May 13, 2017

shale gas news - desRosiers_headshotBill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

 

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM and 1510 AM, talked about NY LPG, lateral wells, production and much more last week.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as guests, we had Jeannine Barrett, Director of Lackawanna College School of Petroleum & Natural Gas, David Overstreet council for Wayne Land and Mineral Group, LLC and Michael Narcavage, Community Relations Manager at Southwestern Energy.

shale gas news

The Shale Gas News, typically, is broadcast live. On the May 13th show (click above), we covered the following new territory (see news excerpts below):

  • Fracking is Legal in New York? Yes! Using LPG. Every now and again a gift lands in our lap, unexpectedly. Such is the case today. A third year law student at the University of Buffalo School of Law, Kelsey Hanson, has researched and written a masterful paper on the potential for LPG (liquefied propane) fracking in, yes, New York State. The paper, titled “Hey New York, You Can Frack: An Examination of How Liquefied Petroleum Gas Sidesteps New York’s Fracking Ban to Provide a Legal and Practical Approach for Horizontal Drilling in New York’s Marcellus Shale” has just been published in the Buffalo Law Review (how did that happen?!).
  • Antero Resources: Production Hits New High of 2.1 Bcf/d, $268M Profit.  Antero Resources, one of the biggest and best drillers in the Marcellus/Utica concentrating on just those two plays, turned in their first quarter 2017 numbers on Monday, and held an earnings call to discuss it yesterday. The first thing that caught our eye was that Antero hit a new production high in 1Q17. The company produced 2.1 billion cubic feet equivalent per day. Impressive.
  • Noble Energy Sells Remaining M-U Assets for $1.2B – Who Bought? Yesterday Noble Energy dropped a bombshell that it has sold its 100% interest in 385,000 Marcellus/Utica acres and wells producing 415 million cubic feet equivalent of natural gas in West Virginia and Pennsylvania for $1.225 billion to “an undisclosed buyer.” That works out to be $3,181 per acre. Not included in the sale is Noble’s half operating interest in the CONE Midstream pipeline gathering system. It was just three years ago that Noble announced it would lease 138,000 feet in a new office building in Southpointe, and move in 200 employees.
  • Titan Energy Sells Marcellus Assets, Buyer Rapidly Expanding. In February, MDN told you that Titan Energy, which used to be known as Atlas Energy/Resource Partners, was listing what appeared to be the rest of the acreage they still own on the Appalachian basin–some 494,229 acres–including rights for drilling in the Marcellus. On Friday, Titan announced it has signed an agreement to sell the acreage, along with 8,400 oil and gas wells across Pennsylvania, Ohio, Tennessee, New York and West Virginia, for $84.2 million to Diversified Gas & Oil (DGO).
  • Great Scott! Eclipse Drills New Longest Lateral in World – in Utica. Eclipse Resources, a Marcellus/Utica pure play driller headquartered in State College, PA that drills mostly in Ohio, has done it again. Yesterday as part of Eclipse’s first quarter 2017 update, the company announced it has broken its own record for drilling the longest land-based lateral well in the world by drilling a Utica well with a lateral that’s 19,300 feet long (3.7 miles).

The Shale Gas News sponsored by Linde Corporation

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