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Utica Shale News

Profit falls at EQT on low shale gas prices

A 40 percent drop in natural gas prices is eroding profits at EQT Corp. despite continued increases in production. Net income at the Downtown-based company fell by 95 percent to $5.5 million, or 4 cents per share, during the quarter that ended June 30, compared to $110.9 million, or 73 cents per share, during the same period last year, EQT ...

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Utica and Marcellus activity in Ohio

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Activity in the Utica and Marcellus Shale formations in Ohio have seen some changes compared to the last well activity update, and one energy company is boosting its game when it comes to electric cars. American Electric Power Company Inc. (AEP) is beginning to pay closer attention to the number of customers it serves that have electric cars and the ...

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Consol warns of losses due to natural gas glut

The low gas and coal prices that prompted layoffs and other recent cost-cutting moves at Consol Energy Inc. are eating into profits. The Cecil-based company warned early Monday it expects to report an operational loss when it announces financial results from the second quarter next week and will write down the value of some of its shallow oil and natural ...

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Study links gas wells and hospital visits in Bradford and Susquehanna counties

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Researchers comparing hospital visits in three rural Northeast Pennsylvania counties found a higher rate of hospital visits in counties with a heavy gas industry presence. Residents of heavily drilled Bradford and Susquehanna counties were admitted to hospitals at higher rates than in neighboring Wayne County where drilling is banned, University of Pennsylvania and Columbia University researchers stated in a paper ...

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ODNR sets rules for fracking well pads

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The Ohio Department of Natural Resources announced on Thursday that it is implementing new rules for the construction of horizontal well-pad sites. Horizontal well pads are used for fracking, when a well is drilled vertically but then goes horizontally underground, allowing for more than one well. Shawn Bennett, executive vice president of the Ohio Oil and Gas Association, said horizontal ...

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Commission has tight time frame for fracking taxes study

A new legislative tax commission that must deliver a recommendation on increasing Ohio’s tax on shale fracking technically will have just 24 hours to meet and complete its work. Senate President Keith Faber, R-Celina, wanted to put a new severance tax into the two-year, $71 billion state budget that took effect July 1. But House GOP leaders who had already ...

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Utica and Marcellus activity in Ohio

odnr

Activity in the Utica and Marcellus Shale formations in Ohio have seen some changes compared to the last the well activity update, and according to a new report, the Utica Shale formation might just be larger than the Marcellus Shale formation. The Appalachian Oil and Natural Gas Research Consortium, a program of the National Research Center for Coal and Energy ...

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Utica bigger than Marcellus

ohio shale

CANONSBURG, Pa. – It’s been known for some time that the Marcellus shale is just the beginning of the natural gas horizontal fracking boom for this part of the country. More than 200 industry members got a look at the next big thing Tuesday: The Utica shale. A variety of experts presented highlights of the Utica Shale Play Book Study, ...

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Study estimates Utica shale holds gigantic amount of recoverable gas

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The amount of natural gas trapped in the Utica shale might rival what drillers hope to extract from its more famous neighbor the Marcellus, a group of geologists said Tuesday. “It’s comparable to the highest number I’ve seen for the Marcellus,” said Doug Patchen, head of the Appalachian Oil and Natural Gas Research Consortium at West Virginia University and lead ...

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