Marcellus Shale News Pulse March 2021

The Marcellus Shale| March 2021

Field Overview

The Marcellus Shale is the largest gas play onshore in the US. Located in the Northeast, it supplies the high demand markets along the East Coast. Most of the basin’s gas is produced through unconventional methods, while the little oil produced is mostly by conventional means. Some of the top formations include Onondaga and the Huntersville.

State Drilling Statistics (End of March)

Active Drilling Rigs in Basin- 30
Total Rigs in Pennsylvania- 18
Total Rigs in United States- 417
Total U.S. Rigs down 43% YTD

State Permitting Data (End of March)
Permits Approved (PA) – 75

Marcellus Top Producers
Top Producer By BOE – Chesapeake


Basin Highlights

LOLA Energy Acquires Butler County

LOLA will acquire approximately 22,000 net mineral acres of oil and gas leases in the natural gas liquids rich window of the Marcellus and Burkett shale plays in Butler County, Pennsylvania.

Article Link

Pa. Vows to Use 50% Solar for Government Energy Consumption by 2023

Seven solar farms to generate 191 megawatts of energy will be built in six Pennsylvania counties over the next two years to provide roughly half of Pennsylvania’s government power consumption. The solar arrays are expected to begin generating power by Jan. 1, 2023. A European energy company, Lighthouse bp, “will build, own and operate the solar arrays, creating hundreds of new construction jobs for Pennsylvanians and bringing long term economic benefits to local communities through increased tax revenues,” the governor’s office said in a statement. Lighthouse bp is a subsidiary of BP.

Article Link

Occidental Receives Favorable Ruling in Antitrust Case

The attorney general’s office sued in 2015, accusing Anadarko and Chesapeak of eliminating competition and shortchanging landowners of signing bonuses and royalties by dividing counties in northern Pennsylvania where they planned to lease mineral rights. The lawsuit also accused Anadarko of obscuring how their royalties would  be calculated. Anadarko’s defense was simple, they were not selling services and not subject to action under consumer protection laws. They were simply buying mineral rights from those who wished to sell them. Chesapeake was eventually dropped from the case when they entered bankruptcy. In late March, courts sided with Anadarko who is now owned by Occidental. Still, there are new efforts centered around defining what practices amount to unfair competition.

Article Link


Operators with Most Permits in PA (March)

RankCompanyPermits
Approved
1Rice Drilling13
2Seneca Resources10
3EQT9
4CNX7
4Pennhills Resources7
Hyperlinks to available Q4 2020 Reports

Top Producers By BOE (2021 cum)

RankCompany
1Chesapeake
2Cabot
3Range
4EQT
5Rice Drilling
Hyperlinks to available Q4 2020 Reports

Rig Count


Marcellus Production


Marcellus Natural Gas


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