Pennsylvania-based Rex Energy reported a net loss of $47.1 million or $4.76 per share in the third quarter, Kallanish Energy reports. That compares to a net loss of $55.2 million or $5.60 a share in 3Q 2016, the company said.
CONSOL Energy reported on Tuesday that its Marcellus Shale production in the Appalachian Basin in the third quarter 2017 grew by 17% and its Utica Shale production dropped 11% from 3Q 2016. But those Utica production totals are trending upward in a big way, Kallanish Energy reports.
The Federal Energy Regulatory Commission last month approved three pipelines to take natural gas from the Marcellus and Utica shales to market. They were the first three projects to win FERC approval since the agency regained its quorum and its ability approve projects that had been lost last February, Kallanish Energy reports.
Once an industry darling, which lost some of its luster when numerous producers opted for more liquids-rich plays, recent increases in drilling activity and well production rates are again raising natural gas production in the Haynesville Shale play, according to the Energy Information Administration.
There are $23 billion in pipeline projects under construction or being developed in the Appalachian Basin, according to Energy in Depth. The national pro-drilling organization said those 15 pipeline projects in West Virginia, Ohio and Pennsylvania will stretch 3,200 miles, Kallanish Energy has learned..
Three areas of West Virginia, Ohio and Pennsylvania possess suitable geology to house underground ethane storage, according to a year-long geological study by West Virginia University’s Energy Institute.
A unit of midstreamer/wholesale energy services provider Twin Eagle Resource Management said Thursday it’s entering the Appalachian Basin with the purchase of a frac sand terminal near Bridgeport, W.V.
Private equity firm District 5 Investments said today it’s investing up to $35 million in startup Pathfinder Resources, a limited liability company formed to acquire producing and non-producing oil and gas mineral interests, royalty interests and non-operated working interests across the U.S.
A year-long geological study by West Virginia University and its partners found multiple sites that would support a proposed ethane storage facility in the Appalachian Basin, Kallanish Energy reports. The study analyzed about 50 counties in Pennsylvania, Ohio and West Virginia along the Ohio and Kanawha rivers.