oil & gas assets

Eastern Scout

Serving the local market with drilling activities, permits & multiple listings

Eastern Scout
PLS's new Eastern Scout covers local drilling activity, permit data, rig activity and completions in the Eastern region (Pennsylvania, Ohio & West Virginia). Like all of PLS's Regionals this report includes a wealth of statistical analysis on activities and corporate performance. The reports also layer select advertising, business opportunities and multiple listings for sale.

  • Stay in front of local prospects, plays & rigs!
  • Pennsylvania, Ohio & West Virginia
  • Hard Copy and Email For 1 Individual
  • Every 3 to 4 Weeks (15 issues per year)
  • Regional discoveries, drilling activity, permits,
    completions and summary drilling statistics, layered
    with regional listings and business opportunities
  • Web access to the Eastern Scout archive
  • Does not include access to MLS

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News Date
ES - Gulfport’s longer laterals maximize investment in Utica - January 28, 2020
Gulfport Energy sought to maximize its Utica lateral lengths in order to do more with less in its 2019 drilling program. Lateral lengths were up 18% compared to 2018 for the 13 wells drilled in the first nine months of the year; the company anticipated drilling three more wells in Q4 and exiting 2019 with three DUCs. When normalized to a 8,000-ft lateral, spud-to-rig-release times were down 5% compared to 2018 at 18.6 days. Gulfport drilled a 16,000-ft lateral in 3Q19, which is its longest yet...
Jan 28, 2020
ES - EQT takes 4.3 Tcfe negative revision in YE19 proved reserves - January 28, 2020
In the second half of 2019, EQT laid the groundwork to transition to a combo development focus that it says will transform the company into one of the lowest-cost natural gas operators in the US. The 100-day plan initiated in July was a significant success. It increased drilling efficiencies, as measured by horizontal feet drilled per hour, by 50% in the Pennsylvania Marcellus and by 20% in the Utica during 3Q19. The company expects organizational changes related to its transition plan to drive...
Jan 28, 2020
ES - Regional Highlights - January 28, 2020
The EIA projects that Appalachian production will fall by 56 MMcf/d sequentially in February to 166,000 bo/d and 33.346 Bcf/d. There were 427 DUCs in Appalachia as of December, down by 21 versus November.US gas production is expected to rise 2.9% in 2020 to an average of 94.7 Bcf/d before falling 0.7% in 2021, according to the Energy Information Administration’s Short-Term Energy Outlook. Growth in 2020 will come primarily from improved drilling efficiency and cost reductions,...
Jan 28, 2020
ES - KeyBank Highlights - January 28, 2020
KeyBank and its subsidiary KB OREO made a successful offer and executed an asset purchase agreement to acquire the Pennsylvania assets of bankrupt EdgeMarc Energy Holdings. The buyers offered a $69.68 million credit bid pursuant to Section 363(k) of the US Bankruptcy Code, $9.68 million in cash and at least $60 million of debt-in-possession loans during the Chapter 11 process. The assets cover 32,217 net acres (100% WI, 53% HBP) in Butler County, according to marketing materials. Proved...
Jan 28, 2020
ES - Energy Transfer Highlights - January 28, 2020
Energy Transfer applied to the Federal Energy Regulatory Commission for approval to increase certified capacity on its operated Rover pipeline to 3.425 Bcf/d. When completed in 2018, the 713-mile pipeline from West Virginia and Pennsylvania to the Midwest hub in Ohio and Michigan’s Vector hub was originally listed as a 3.25 Bcf/d pipeline. Rover said the increase is just a reflection of actual pipeline operating flow and pressure...
Jan 28, 2020
ES - Marcellus maintenance capital will keep Range in the black - January 7, 2020
Range Resources laid out plans to live within cash flow and pay down debt this year at the expense of production growth. The company anticipates a 29% YOY reduction in spending to $520 million for 2020. In 4Q19, the company’s production was at the high end of its 2.33-2.35 Bcfe/d guidance, and 2020’s budget aims to maintain volumes at the 2.3 Bcfe/d level throughout the year. All activity will occur in the Marcellus, where Range’s industry-leading well costs are expected to average $625 per...
Jan 07, 2020
ES - Repsol prioritizing value over volume in the Marcellus - January 7, 2020
Given its bearish view on the natural gas outlook, Repsol says it is reducing its capex in Canada and the Marcellus. CEO Josu Jon Imaz San Miguel said in late October that the strategy in the Marcellus will prioritize “value over volume.” The company is maintaining flexibility in light of prices and has the option to dynamically shift capex. Currently, Eagle Ford liquids assets are seeing capex while the Marcellus is on the back burner because of gas prices. During 2019, the Marcellus was a...
Jan 07, 2020
ES - Regional Highlights - January 7, 2020
The Energy Information Administration projects that Appalachian production will rise by 2,000 bo/d and fall by 74 MMcf/d sequentially in January to 171,000 bo/d and 33.432 Bcf/d. As of December, production from the play was up 6% YOY. For the same period in 2018 and 2017, volumes had risen 18% YOY in both cases. There are 472 DUCs in Appalachia as of November, down by 25 versus October. A total of 106 wells were completed and 81 were drilled during the month. According to the...
Jan 07, 2020
ES - Gulfport Energy Highlights - January 7, 2020
Gulfport Energy entered into an agreement to divest certain nonoperated interests in the Utica for $29 million cash. The deal was expected to have closed by...
Jan 07, 2020
ES - Antero Resources Highlights - January 7, 2020
Antero Resources launched an asset sale program in December targeting $750 million to $1 billion in divestments to cut debt. The company said some or all of its lease acreage, minerals and producing properties could be on the chopping block. It currently holds 584,000 net acres with an 84% NRI across Ohio and West Virginia, as well as 5,000 net mineral acres with an average 16%...
Jan 07, 2020

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