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Ohio Utica Shale

Philadelphia Energy Solutions seeks Bakken JV agreement

By Bob Downing Published: July 30, 2015

Philadelphia Energy Solutions is seeking to complete a joint venture that would give it a controlling interest in crude-oil loading terminals and storage tanks in North Dakota, the source of the Bakken Shale crude that is processed by the South Philadelphia refinery, says NPR's StateImpact Pennsylvania.

The refiner said in a Securities and Exchange Commission filing on July 27 that it has agreed in principle to enter into a joint venture with BOE Midstream, which owns the rail-loading and oil-storage facilities.

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Post-merger Williams Partners reports boost to 2Q EBITDA

By Bob Downing Published: July 30, 2015

Oklahoma-based Williams Partners today reported a 2Q 2015 EBITDA of $1.01 billion, a $291 million or 41 percent increase from 2Q 2014.

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Rex Energy offers partial update on 2Q 2015

By Bob Downing Published: July 30, 2015

From Rex Energy on Wednesday:

STATE COLLEGE, Pa., July 29, 2015 (GLOBE NEWSWIRE) -- Rex Energy Corporation (Nasdaq:REXX) announced second quarter 2015 production volumes and price realizations.

Production Results and Price Realizations

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LNG exports will impact natural gas markets, consumers

By Bob Downing Published: July 30, 2015

The U.S. natural gas market is waking up.

Seasonal price swings will intensify as the country begins shipping liquefied natural gas cargoes to Asia and Europe later this year, said Bank of America Corp., RBC Capital Markets LLC and Wood Mackenzie Ltd.

While that’s good news for traders yearning for volatility, it could be bad news for consumers. Average retail gas prices also will rise with LNG exports, according to Bloomberg New Energy Finance.

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Range Resources cuts its work force by 11 percent

By Bob Downing Published: July 30, 2015

Texas-based Range Resources Corp., one of the biggest players in Pennsylvania's Marcellus Shale, has cut its work force by 11 percent this year due to low commodity prices.

The company, the fourth largest driller in Pennsylvania, has about 500 employees in Pennsylvania in addition to its contractors.

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API supports lifting crude oil trade restrictions

By Bob Downing Published: July 30, 2015

From the American Petroleum Institute on Wednesday:

WASHINGTON, July 29, 2015 ─ API applauded legislative efforts now underway to lift outdated trade restrictions on U.S. oil during a conference call today with reporters.
“At this moment, U.S. diplomats are paving the way for Iran to reassert itself as a major world energy supplier,” said API President and CEO Jack Gerard. “American voters understand that lifting the ban on Iranian oil resources, while maintaining a ban on U.S. companies, is illogical and restricts our own competitiveness. It doesn’t make sense. U.S. energy producers should not be placed at a competitive disadvantage to anyone, whether it is Russia, Iran or any oil-producing country.”
“These votes will play an important role in determining whether America remains a global energy superpower for decades to come,” added Gerard. “If we act now to harness this once-in-generation opportunity, America is poised to add billions to the domestic economy, creating jobs up and down the energy supply chain.”
“Bipartisan momentum is stronger than ever, and we urge members of the House and Senate to schedule committee and floor votes on this issue as soon as possible.  Now is the time to send a message to allies around the world that America is ready to lead.”
Read the full text of Gerard’s opening remarks here.
API is the only national trade association representing all facets of the oil and natural gas industry, which supports 9.8 million U.S. jobs and 8 percent of the U.S. economy. API’s more than 625 members include large integrated companies, as well as exploration and production, refining, marketing, pipeline, and marine businesses, and service and supply firms. They provide most of the nation’s energy and are backed by a growing grassroots movement of more than 25 million Americans.

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Royal Dutch Shell to cut 6,500 jobs, $7 billion in projects

By Bob Downing Published: July 30, 2015

Dutch-based Royal Dutch Shell Plc. says it will be cutting 6,500 jobs and paring $7 billion from budgets in the next two years.

It said the cuts are due to what officials temed the continuing "prolonged downturn" for the energy industry.

Click  here  to read the full story from Bloomberg Business.

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Antero Resources reports production grows but profits fall

By Bob Downing Published: July 30, 2015

Colorado-based Antero Resources reported on Thursday  that its natural gas equivalent production grew by 67 percent from a year earlier but was flat from the previous quarter.
That’s because the drilling company has deferred 50 well completions in the Marcellus Shale because of a needed gathering pipeline. That delay had been announced earlier this year.  
The pipeline providing Gulf Coast access is scheduled to be completed late this year and those wells will be completed early next year,  the company said in a second quarter 2015 earnings call with analysts and the media.
Getting those wells into production will provide the company with a $150 million boost in 2016, and Antero Resources is expecting production growth to jump by up to 30 percent in 2016, officials said.
The company, one of the biggest players in Ohio’s Utica Shale, reported a financial loss of $145 million or 52 cents a share during the second quarter. That compares to a $42 million loss or 16 cents a share in the second quarter 2014.
Antero Resources is projecting a slight drop in production in third quarter 2015.
The company produced 1,484 billion cubic feet of equivalents per day in the quarter that ended June 30. . That total includes nearly 46,000 barrels per day or about 18 percent of production. That represents a 127 percent increase from a year ago and a 15 percent jump from first quarter 2015.
Antero Resources had trimmed its capital budget by 49 percent in 2015. It cut its rigs from 21 to 10 and cut completion crews from 10 to 7 as commodity prices dropped.
The company has drilled 68 Ohio wells and has four rigs drilling in Ohio. It completed 10 Ohio wells in the second quarter. The average lateral in those wells was 10,600 feet in length.
Those 68 Ohio wells produced 244 million cubic feet of equivalents per day in second quarter 2015. That included 11,900 barrels per day of liquids.
The company plans to drill another 35 Utica wells in Ohio in 2015. That includes two seven-well pads and one 6-well pad.
It has drilled 413 horizontal wells in the Marcellus Shale in Pennsylvania and West Virginia.
Earlier this week, it drilled its first Utica Shale natural gas well in Tyler County, W. Va. It will be several months before results will be released.
The company has more than 543,000 acres in Ohio, Pennsylvania and West Virginia.
The company has also recently acquired 4,400 acres with potential in both the Utica and Marcellus shales in West Virginia’s Tyler County. The purchase price was $33.6 million.
The company has reduced Utica drilling time from 34 to 30 days. It is spending about $1.3 million per 1,000 feet of laterals.
It has recently committed to ship natural gas starting in 2018 with Columbia Pipeline’s Mountaineer Xpress and Gulf Xpress pipelines.
It has reduced drilling costs by 16 percent in the Marcellus Shale and 18 percent in the Utica Shale, said chairman and CEO Paul Rady. His company is positioned to “weather the (economic) storm,” he said.
In the Utica, about 65 percent of the savings came from cuts in well service costs and 35 percent came from operating efficiencies, he said.

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Tidbits from Antero Resources 2Q 2015 earnings call

By Bob Downing Published: July 30, 2015

Tidbits from Antero Resources' second quarter 2105 earnings call:

1. Company is looking forward to completion of Mariner East 2 pipeline to carry liquids to overseas markets. That is likely to happen in fourth quarter 2016.

2. Company has cut well costs by 15 to 20 percent in the Marcellus and Utica shales. Costs have been cut 16 percent in the Marcellus and 18 percent in the Utica, compared to 2014.

3. Company is keeping a close eye on the very lucrative Utica Shale wells being drilled by other companies in southwest Pennsylvania.

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Republic Services adds 17 CNG trucks to its Denver fleet

By Bob Downing Published: July 29, 2015

From a press release received today:

Republic Expands Natural Gas-Powered Fleet Serving Denver

More than half of Republic's Colorado fleet now powered by the domestic fuel source

DENVER, July 29, 2015 /PRNewswire/ -- Republic Services announced today the addition of 17 Compressed Natural Gas (CNG) solid waste collection trucks to its fleet serving customers throughout the greater Denver area. The CNG trucks replace older diesel-powered trucks, and bring the total number of natural gas vehicles operated by Republic throughout Colorado to 82.

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Utica and Marcellus shale web sites

Ohio Department of Natural Resources' Division of Oil and Gas Resources Management State agency Web site.

ODNR Division of Oil and Gas Resources Management. State drilling permits. List is updated weekly.

ODNR Division of Geological Survey.

Ohio Environmental Protection Agency.

Ohio State University Extension.

Ohio Farm Bureau.

Ohio Oil and Gas Association, a Granville-based group that represents 1,500 Ohio energy-related companies.

Ohio Oil & Gas Energy Education Program.

Energy In Depth, a trade group.

Marcellus and Utica Shale Resource Center by Ohio law firm Bricker & Eckler.

Utica Shale, a compilation of Utica shale activities.

Landman Report Card, a site that looks at companies involved in gas and oil leases.FracFocus, a compilation of chemicals used in fracking individual wells as reported voluntarily by some drillers.

Chesapeake Energy Corp,the Oklahoma-based firm is the No. 1 driller in Ohio.

Rig Count Interactive Map by Baker Hughes, an energy services company.

Shale Sheet Fracking, a Youngstown Vindicator blog.

National Geographic's The Great Shale Rush.

The Ohio Environmental Council, a statewide eco-group based in Columbus.

Buckeye Forest Council.

Earthjustice, a national eco-group.

Stop Fracking Ohio.

People's Oil and Gas Collaborative-Ohio, a grass-roots group in Northeast Ohio.

Concerned Citizens of Medina County, a grass-roots group.

No Frack Ohio, a Columbus-based grass-roots group.

Fracking: Gas Drilling's Environmental Threat by ProPublica, an online journalism site.

Penn State Marcellus Center.

Pipeline, blog from Pittsburgh Post-Gazette on Marcellus shale drilling.

Allegheny Front, environmental public radio for Western Pennsylvania.