October 14, 2009 - Range Resources Corp. (RRC) has come out with an operational update on the Marcellus Shale today and it appears the company is starting to drill in Lycoming County, PA.
Range Resources Corp. (RRC) Operational Update - 10/14/09
During the third quarter, the Marcellus Shale division continued to make excellent progress. Recently, we added two key members to our Marcellus team. Joe Frantz has been added as Vice President of Engineering and Scott Roy has been added as Vice President of Government and Regulatory Affairs. Both are leaders in their fields and bring substantial experience. The Marcellus Division is continuing to delineate and de-risk its large land position. We now have a rig in northeast Pennsylvania in Lycoming County drilling the first of two horizontal wells, which offset our high-rate vertical wells. We expect initial results from these two wells by early next year. We also plan to drill a Utica Shale horizontal and a shallow upper Devonian horizontal before year-end. Results of these two wells should be available by early first quarter.
Marcellus Shale production is well on plan and now exceeds 80 Mmcfe per day net and is expected to approach the higher end of the previously revised target of 90 - 100 Mmcfe per day net by year-end 2009. From inception, Range has drilled 77 horizontal Marcellus Shale wells, of which 60 have been completed and 54 are on production. The Company expects to drill and case approximately 20 additional horizontal wells in the Marcellus Shale play during the fourth quarter 2009 and carryover approximately 20 of these for completion in 2010. The Marcellus division is currently running a total of four horizontal rigs. We anticipate entering 2010 with six custom-built horizontal rigs. Full Press Release
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Showing posts with label companies drilling marcellus shale. Show all posts
Showing posts with label companies drilling marcellus shale. Show all posts
Wednesday, October 14, 2009
Saturday, May 16, 2009
Marcellus Shale Update - May 18, 2009
Drilling activity in the Marcellus Shale has died down but is still out there. The recent drop in natural gas prices have put pressure on profit margins. Below is a Marcellus Shale update for 5/18/09
ENTRY INTO MARCELLUS AND DEEP TEST WELL COMPLETED IN NEW YORK
UNBRIDLED ENERGY CORP ( UNEFF ) announces it has successfully drilled the stratigraphic test well on its Chautauqua Lake acreage in western New York. The well was drilled, cored and logged to a total depth of 7,300’ as planned.
This well, drilled in conjunction with New York State Energy Research and Development Authority (NYSERDA) was an effort to test the potential of several deep horizons in the area. The exact well location was determined using 2-D seismic. The data from the logs and core is currently being evaluated.
http://www.unbridledenergy.com/news/article.aspx?id=92
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
ENTRY INTO MARCELLUS AND DEEP TEST WELL COMPLETED IN NEW YORK
UNBRIDLED ENERGY CORP ( UNEFF ) announces it has successfully drilled the stratigraphic test well on its Chautauqua Lake acreage in western New York. The well was drilled, cored and logged to a total depth of 7,300’ as planned.
This well, drilled in conjunction with New York State Energy Research and Development Authority (NYSERDA) was an effort to test the potential of several deep horizons in the area. The exact well location was determined using 2-D seismic. The data from the logs and core is currently being evaluated.
http://www.unbridledenergy.com/news/article.aspx?id=92
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Friday, February 27, 2009
Marcellus Shale: Lycoming, PA 2009 SWN
Today, 2/27/09, Southwestern Energy ( SWN ) has announced that they have acquired acreage through mineral rights leasing in Pennsylvania regarding the Marcellus Shale.
In the first quarter of 2009, the company purchased approximately 21,715 net acres in Lycoming County, Pennsylvania, for approximately $8.2 million. As a result, Southwestern currently has approximately 137,000 net undeveloped acres in Pennsylvania under which it believes the Marcellus Shale is prospective.
http://www.swn.com/operations/new.ventures.asp
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
In the first quarter of 2009, the company purchased approximately 21,715 net acres in Lycoming County, Pennsylvania, for approximately $8.2 million. As a result, Southwestern currently has approximately 137,000 net undeveloped acres in Pennsylvania under which it believes the Marcellus Shale is prospective.
http://www.swn.com/operations/new.ventures.asp
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Tuesday, February 3, 2009
Marcellus Shale: Anadarko APC Marcellus Shale Update
Anadarko Petroleum ( APC ) came out with earnings 2/2/09 and reported an update on the Marcellus Shale:
In 2008, Anadarko’s U.S. onshore exploration program continued to show positive results in
the Marcellus, Haynesville and Maverick Basin shale plays. The company completed its first Marcellus Shale horizontal well, testing approximately 4.5 million cubic feet of natural gas per day. A second horizontal test is currently being completed with two additional tests in various stages of drilling.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free.
In 2008, Anadarko’s U.S. onshore exploration program continued to show positive results in
the Marcellus, Haynesville and Maverick Basin shale plays. The company completed its first Marcellus Shale horizontal well, testing approximately 4.5 million cubic feet of natural gas per day. A second horizontal test is currently being completed with two additional tests in various stages of drilling.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free.
Wednesday, January 28, 2009
Marcellus Shale: Clearfield County PA 2009
Carrizo Oil & Gas provided an update on the Marcellus Shale for 2009. Carrizo is looking to start drilling in Clearfield County, PA in March of 2009.
Carrizo's activity in the Marcellus Shale is shifting from lease acquisition to evaluation drilling. In addition to two wells drilled through the Marcellus in late 2008, seven wells are currently in the permitting stage. The company expects to initiate drilling on its acreage in March starting with a well in Clearfield, PA.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Carrizo's activity in the Marcellus Shale is shifting from lease acquisition to evaluation drilling. In addition to two wells drilled through the Marcellus in late 2008, seven wells are currently in the permitting stage. The company expects to initiate drilling on its acreage in March starting with a well in Clearfield, PA.
For my latest updates, visit http://blackberrystocks.blogspot.com/ or Subscribe for Free
Marcellus Shale: MarkWest Energy MWE 2009
Yesterday, 1/27/09, Mark West Energy ( MWE ) stock exploded higher due to a dividend and the following news related to the Marcellus Shale.
2009—MarkWest Energy Partners, L.P. (NYSE: MWE) and NGP Midstream & Resources, L.P. (M&R) today announced an agreement to form a joint venture dedicated to the construction and operation of natural gas midstream services to support producer customers in the Marcellus Shale.
Under the terms of the joint venture, which will be owned 60 percent by MarkWest and 40
percent by M&R, MarkWest will operate the facilities and will contribute approximately $100 million of existing Marcellus Shale assets to the joint venture. M&R will invest the next $200 million of capital, which approximates the capital required to fund the Marcellus project in 2009. Capital funding for 2010 and 2011 will be driven by producer drilling programs. In order to achieve the 60 / 40 capital structure MarkWest will invest approximately $200 million in incremental capital by the end of 2011 in accordance with the joint venture agreement.
The Marcellus Shale continues to develop into one of the most prolific and economic natural gas shale plays in the United States. MarkWest has established a leading position in providing midstream services in the Marcellus Shale, including the recent development of gathering and processing infrastructure for Range Resources in southwest Pennsylvania. By the end of 2009, MarkWest and M&R expect the joint venture to be capable of processing up to 240 million cubic feet per day of gas for Range and other producers.
“M&R will be an excellent partner in our Marcellus project,” said Frank Semple, Chairman, President and Chief Executive Officer of MarkWest Energy Partners. “M&R has a strong appreciation for the long-term strategic value of the Marcellus play and shares our vision of delivering best-of-class midstream services to producer customers, including our significant relationship with Range Resources. The structure of the joint venture will allow MarkWest to achieve its long-term objectives in the Marcellus while significantly reducing capital requirements over the next several years, which is a critical component of our balance sheet and liquidity objectives. The experience and expertise of MarkWest and M&R are very complementary and we look forward to a long-term business relationship.”
http://www.markwest.com/files/MWE/MWE%20M&R%20JV%20FINAL.pdf
http://blackberrystocks.blogspot.com/
2009—MarkWest Energy Partners, L.P. (NYSE: MWE) and NGP Midstream & Resources, L.P. (M&R) today announced an agreement to form a joint venture dedicated to the construction and operation of natural gas midstream services to support producer customers in the Marcellus Shale.
Under the terms of the joint venture, which will be owned 60 percent by MarkWest and 40
percent by M&R, MarkWest will operate the facilities and will contribute approximately $100 million of existing Marcellus Shale assets to the joint venture. M&R will invest the next $200 million of capital, which approximates the capital required to fund the Marcellus project in 2009. Capital funding for 2010 and 2011 will be driven by producer drilling programs. In order to achieve the 60 / 40 capital structure MarkWest will invest approximately $200 million in incremental capital by the end of 2011 in accordance with the joint venture agreement.
The Marcellus Shale continues to develop into one of the most prolific and economic natural gas shale plays in the United States. MarkWest has established a leading position in providing midstream services in the Marcellus Shale, including the recent development of gathering and processing infrastructure for Range Resources in southwest Pennsylvania. By the end of 2009, MarkWest and M&R expect the joint venture to be capable of processing up to 240 million cubic feet per day of gas for Range and other producers.
“M&R will be an excellent partner in our Marcellus project,” said Frank Semple, Chairman, President and Chief Executive Officer of MarkWest Energy Partners. “M&R has a strong appreciation for the long-term strategic value of the Marcellus play and shares our vision of delivering best-of-class midstream services to producer customers, including our significant relationship with Range Resources. The structure of the joint venture will allow MarkWest to achieve its long-term objectives in the Marcellus while significantly reducing capital requirements over the next several years, which is a critical component of our balance sheet and liquidity objectives. The experience and expertise of MarkWest and M&R are very complementary and we look forward to a long-term business relationship.”
http://www.markwest.com/files/MWE/MWE%20M&R%20JV%20FINAL.pdf
http://blackberrystocks.blogspot.com/
Tuesday, December 30, 2008
Marcellus Shale: Trans Energy TENG Competes Third Well
Trans Energy ( TENG ) came out yesterday, 12/29/08, and announced it has completed its third Marcellus Shale well.
Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that its Dewhurst #73 well in Wetzel County, West Virginia was successfully completed on December 16th and connected to a gas sales line on December 20th. The Dewhurst #73 is completed in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett, Fayetteville and Haynesville shales which have grown to become a significant base of hydrocarbon reserves in the United States.
The well is continuing to purge water used in the frac process, and is producing gas at a volume and working pressure that indicates this development area may be among the most attractive parts of this new and substantial shale play.
James K. Abcouwer, President and CEO of Trans Energy, said, "This third Marcellus well indicates that the positive results from our first two vertical wells, the Hart #20 and Dewhurst #50, can be replicated throughout our acreage position in northern West Virginia. We're now beginning a horizontal well program in yet another significant step forward for Trans Energy to properly develop its acreage position. We're pleased to have achieved this sizeable acreage position centered on the Wetzel-Marion-Marshall-Doddridge Counties area, which looks to be one of the most -- if not the most -- prolific part of the Marcellus resource in Appalachia."
http://blackberrystocks.blogspot.com/
Trans Energy, Inc. (OTC Bulletin Board: TENG) announced today that its Dewhurst #73 well in Wetzel County, West Virginia was successfully completed on December 16th and connected to a gas sales line on December 20th. The Dewhurst #73 is completed in the Marcellus shale, a prolific new "resource play" in Appalachia, similar to the Barnett, Fayetteville and Haynesville shales which have grown to become a significant base of hydrocarbon reserves in the United States.
The well is continuing to purge water used in the frac process, and is producing gas at a volume and working pressure that indicates this development area may be among the most attractive parts of this new and substantial shale play.
James K. Abcouwer, President and CEO of Trans Energy, said, "This third Marcellus well indicates that the positive results from our first two vertical wells, the Hart #20 and Dewhurst #50, can be replicated throughout our acreage position in northern West Virginia. We're now beginning a horizontal well program in yet another significant step forward for Trans Energy to properly develop its acreage position. We're pleased to have achieved this sizeable acreage position centered on the Wetzel-Marion-Marshall-Doddridge Counties area, which looks to be one of the most -- if not the most -- prolific part of the Marcellus resource in Appalachia."
http://blackberrystocks.blogspot.com/
Thursday, December 4, 2008
Marcellus Shale: Rex Energy Provides Update
Rex Energy Corporation (REXX) provided an operational update today on its Marcellus Shale activities and 2009 capital budget.
The company is pleased to announce initial flow rates for its first two vertical test Marcellus Shale wells completed in Westmoreland County, Pennsylvania. These wells, drilled in the deeper portion of the Marcellus play, had peak flow rates of 400 and 1,200 Mcf per day respectively before being turned into sales. Each well continues to stabilize at daily production rates of 300 - 500 Mcf per day, and the high operating pressures suggest increased production is likely with further production facility optimization. The company's third vertical test well in Westmoreland County has been drilled and will be completed by mid-December.
In Clearfield County, Pennsylvania the company has recently completed drilling its first vertical test well encountering approximately 150 feet of Marcellus Shale formation. The company expects to complete the well in late December. Additionally, in Butler County, Pennsylvania area, the company participated in the drilling of two additional vertical wells with its partner. Both wells are expected to be completed during the first quarter of 2009 following installation of the company's gas processing facility.
http://ir.rexenergycorp.com/phoenix.zhtml?c=211917&p=NewsArticle&id=1232069
The company is pleased to announce initial flow rates for its first two vertical test Marcellus Shale wells completed in Westmoreland County, Pennsylvania. These wells, drilled in the deeper portion of the Marcellus play, had peak flow rates of 400 and 1,200 Mcf per day respectively before being turned into sales. Each well continues to stabilize at daily production rates of 300 - 500 Mcf per day, and the high operating pressures suggest increased production is likely with further production facility optimization. The company's third vertical test well in Westmoreland County has been drilled and will be completed by mid-December.
In Clearfield County, Pennsylvania the company has recently completed drilling its first vertical test well encountering approximately 150 feet of Marcellus Shale formation. The company expects to complete the well in late December. Additionally, in Butler County, Pennsylvania area, the company participated in the drilling of two additional vertical wells with its partner. Both wells are expected to be completed during the first quarter of 2009 following installation of the company's gas processing facility.
http://ir.rexenergycorp.com/phoenix.zhtml?c=211917&p=NewsArticle&id=1232069
Thursday, October 16, 2008
XTO Energy CFO Sells Stock
Independent oil and gas producer XTO Energy Inc.'s executive vice president and chief financial officer Louis Baldwin has sold 535,700 shares of the company’s common stock.
It hasn't been certain whether this was involuntary like last weeks dumping by Chesapeake Energy's CEO.
XTO Energy is very active in the Marcellus Shale, Bakken Shale, and Haynesville Shale
http://finance.yahoo.com/q/it?s=XTO
It hasn't been certain whether this was involuntary like last weeks dumping by Chesapeake Energy's CEO.
XTO Energy is very active in the Marcellus Shale, Bakken Shale, and Haynesville Shale
http://finance.yahoo.com/q/it?s=XTO
Friday, October 10, 2008
Chesapeake Energy ( CHK ) News 10/10/08
Chesapeake Energy ( CHK ) just came out with major news that is sending its stock soaring in afterhours trading tonight.
Dow Jones is reporting:
Dow Jones is reporting:
- Chesapeake In Talks With 'Multiple Parties' On Midstream Ops Stake
- Chesapeake Energy CEO Involuntarily Sells All Shrs To Meet Margin Loan Calls
- Chesapeake: Further Cuts To 4Q CapEx Are Underway >CHK
- Chesapeake Energy ( CHK ) sells Marcellus Stake for 2.5- 3 Billion.
So Aubry got flushed out.....and now you can see why the stock got murdered over the past three weeks with the addition of Hedge Fund Selling.
Tuesday, September 23, 2008
Woodford Shale - EPM Evolution Petroleum Gives Update 9/23/08
EPM Evolution Petroleum is out with their latest Woodford Shale Update below. You've probably noticed but my blog has been semi quiet. Ever since the fall of natural gas prices from $14 to $7....news on these shale plays such as the Haynesville Shale, Marcellus Shale, Fayetteville Shale has fallen off a cliff. The natural gas gold rush has subsided for now, but it will be back. Now is the time to buy stocks like Chesapeake Energy ( CHK ) and Encana ( ECA ).
"As previously announced, our 2009 capital budget includes initialdrilling in our Woodford Shale projects in Oklahoma and initial drilling in anew project in Texas, both expected to occur late in the fiscal year," addedHerlin. "The 2009 capital budget also provides for up to $3 million in newleasing in the Giddings Field, our Oklahoma gas shale projects and our newTexas project. We have now acquired leases on more than 17,600 net acres inOklahoma and are very encouraged by the drilling results of operators alsodeveloping the shallow and mid-depth Woodford Shale near our leases."
"As previously announced, our 2009 capital budget includes initialdrilling in our Woodford Shale projects in Oklahoma and initial drilling in anew project in Texas, both expected to occur late in the fiscal year," addedHerlin. "The 2009 capital budget also provides for up to $3 million in newleasing in the Giddings Field, our Oklahoma gas shale projects and our newTexas project. We have now acquired leases on more than 17,600 net acres inOklahoma and are very encouraged by the drilling results of operators alsodeveloping the shallow and mid-depth Woodford Shale near our leases."
Friday, September 12, 2008
Marcellus Shale - Water Issues getting Solved 9/12/08
Six companies exploring for natural gas in the Marcellus Shale received approval Thursday to draw 30 million gallons of water per day from the Susquehanna River Basin.
Thursday’s approvals increased the amount of water gas companies can remove from the basin to more than 41 million gallons daily, or enough water to fill nearly 70 Olympic-size swimming pools every day. Two other companies were previously authorized to draw 11 million gallons daily.
The agency that regulates water withdrawals from the basin, the Susquehanna River Basin Commission, approved the applications at a meeting at Bucknell University
Full Article Here
Thursday’s approvals increased the amount of water gas companies can remove from the basin to more than 41 million gallons daily, or enough water to fill nearly 70 Olympic-size swimming pools every day. Two other companies were previously authorized to draw 11 million gallons daily.
The agency that regulates water withdrawals from the basin, the Susquehanna River Basin Commission, approved the applications at a meeting at Bucknell University
Full Article Here
Subscribe to:
Posts (Atom)
