Encino’s aggressive expansion in the Utica shale has not only reshaped its business, but also set new benchmarks for operational excellence in the sector.
In the face of growing opposition to fossil fuels and energy infrastructure, EQT CEO Toby Rice pulled out a rallying cry at Hart Energy’s DUG Appalachia conference: “Wake up!”
Before Expand Energy could boast itself as the largest by volume natural gas-weighted E&P in the U.S., its predecessor Chesapeake Energy had to climb out of bankruptcy.
While the rest of the E&P sector bought, merged and consolidated, Range Resources sat on the sidelines in Appalachia because it already has plenty of drilling inventory, CEO Dennis Degner says.
After years of exploitation as one of the country’s first unconventional shale plays, the Marcellus still has plenty of natural gas for producers, even if regional and economic factors have kept much of it bottled up.
Range Resources launched the Appalachia shale rush, and rising domestic power and LNG demand can trigger it to boom again.
Iron Oak Energy Solutions will supply proppant to E&P operations in basins across North America.
ONEOK Inc. also announced the completion of its $2.6 billion Medallion Midstream deal.
Expand Energy, the largest U.S. gas producer, has some 1 Bcf/d of supply behind pipe that it can turn online when gas markets stabilize, though executives said Oct. 30 it might not be needed for some time.
Natural gas producer EQT Corp. says it has far more flexibility to respond to market prices following its acquisition of Equitrans Midstream.