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Drilling Down: Utica Production Forecasts Better than Other Plays | May 17, 2016

Utica Production Forecasts Better than Other Plays

YOUNGSTOWN, Ohio – Shale oil production during the month of June is forecast to total 4.85 million barrels per day (bpd) nationwide, a drop of 113,000 from May’s forecast, the U.S. Energy Information Administration reports. In April, total production reached 4.95 million barrels per day. The agency issued its monthly drilling productivity report Monday that […]

Drilling Down: Range Expands in Louisiana with $4.4B Acquisition | May 16, 2016

Range Expands in Louisiana with $4.4B Acquisition

FORT WORTH, Texas – Range Resources, a major oil and natural gas driller in the Appalachian region, will pay $3.3 billion to acquire Memorial Resource Development Corp. of Houston, the companies announced the morning. The all-stock transaction includes Range assuming $1.1 million in MRD’s net debt. Range has approximately 1 million net acres across Pennsylvania, […]

Drilling Down: Production Rises in Western Pennsylvania’s Utica | May 10, 2016

Production Rises in Western Pennsylvania’s Utica

YOUNGSTOWN, Ohio – Production of natural gas from horizontal wells drilled in Lawrence and Mercer counties in western Pennsylvania took a leap during the fourth quarter of 2015 versus the previous quarter, and output remained steady through the first two months of this year, data show. According to the Pennsylvania Department of Environmental Protection, the […]