The enlarged company will have assets in Marcellus Shale, the Permian Basin, and the Anadarko Basin US-based natural gas producer Cabot Oil & Gas has agreed to merge with Permian Basin operator Cimarex Energy in a deal that values the combined business at nearly $17bn.
Oklahoma City-based Gulfport Energy Corp. is back (from bankruptcy). On Tuesday, the company announced it successfully completed a restructuring process to emerge from chapter 11 protection with a new interim CEO, a new board and significantly less debt. It is among numerous Oklahoma-based energy companies to emerge from bankruptcy in recent years, including Chesapeake Energy, which emerged from its process in February.
Our FREE newsletters provide a daily roundup of the morning's top headlines. Subscribe today! After successful trials using drones to discover abandoned oil and gas wells, Ohio authorities are looking to expand their use and to speed up remediation at hundreds of sites across the state.
Joe Greenberg launched Alta in 1999 with backing from the family of fracking pioneer George Mitchell. This week EQT announced the $2.9 billion acquisition of the Marcellus shale assets of Alta Resources. The package consists of roughly 300,000 net acres in the core northeastern Marcellus currently producing 1 billion cubic feet per day of dry gas, plus integrated pipeline assets.
May 10-Partners designing a plant to extract rare earth elements from coal waste in Hazleton are part of a group awarded $1.2 million to widen a search for those materials. Penn State University leads the group that will look for rare earth elements in three-fourths of Pennsylvania and parts of Ohio, New York, West Virginia and Maryland.
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