Marcellus Shale News Pulse November 2021

Posted: December 22, 2021

The Marcellus Shale | November 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 the Onondaga and the Huntersville.

State Drilling Statistics

Active Drilling Rigs in Basin- 30 (+2)
Total Rigs in Pennsylvania- 18 (-)
Total Rigs in United States- 569 (+19)
Total U.S. Rigs 76% YTD

State Permitting Data
Permits Approved – 49

Marcellus Top Producers
Top Producer By BOE – EQT


Basin Highlights

Analyzing Coterra Energy’s Risk Factors After Merger

Coterra’s major risk area, according to the new TipRanks Risk Factors tool, is Finance and Corporate, which accounts for 49 percent of the total 39 risks detected for the stock. Coterra just included nine additional risk indicators to its profile. 408 million shares were issued to Cimarex stockholders as part of the merger. Coterra warns that now that the merger has been finalized, legacy Cimarex stockholders may opt to sell their shares because they are no longer subject to selling restrictions. Similarly, legacy Cabot owners may decide to sell their shares as a result of the merger’s change in investment profile. As a result, Coterra has issued a warning to investors about the possibility of stock price volatility following the transaction.

Pa. DEP to study raising oil and gas well plugging bonds

After a board approved the review, the Pennsylvania Department of Environmental Protection will formally consider petitions seeking to require oil and gas well owners to lay aside the full cost of capping their wells. The petitions were filed by environmental groups in an attempt to persuade the state to considerably boost bond rates for shale and classic wells drilled since 1985. They argue that the increases are required to safeguard the state and its taxpayers from having to foot the bill for growing cleanup costs and environmental harm if firms fail to plug and rehabilitate wells when they reach the end of their useful lives.

Quebec to Pay “Significantly More” than $5B to Utica Drillers

The province of Quebec, Canada, stated in October that it will expropriate all drilling and extraction rights for all oil and gas corporations in the province. Now, Quebec drillers, who had intended to access their massive Utica Shale assets, are demanding compensation, which will be “significantly more” than the $3 billion to $5 billion proposed by the province’s energy organization.


Operators with Most Permits in PA

RankCompanyPermits
Approved
1Range Resources10
2Antero Resources9
3EQT9
4Natural Gas Fuel4
5Coterra4
Hyperlinks to available Q3 2021 Reports

Top Producers By Gas

ChangeRankCompanyGas Production (mmscf) (7/21)
1EQT1131.2
2Chesapeake791.3
3Cabot648.5
4Southwestern Energy 577.5
5Antero Resources504.9
Hyperlinks to available Q3 2021 Reports

Rig Count


PA Oil Production

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PA Natural Gas Production


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The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the following sources unless otherwise
noted:

www.eia.gov
www.drillinginfo.com
www.bhge.com
RARE Petro Analytics

Related Tags: Marcellus | News Pulse

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