I am in Liberty township and a few months ago got an offer to buy my royalties for 1500 to 1800 per acre, but they would do a more in-depth look if I was serious which "mite change the numbers" slightly....even tho I am not drilled or receiving any royalties ..talked to a landsman rite b4 I contacted them and he advised caution as there will be "significant" activity in my area in the "near future"....how about it, anybody else get an offer or hear anything or see any activity here in Tioga Co. ?
National Fuel Gas launches 3.25M-share offering
The company plans to use the proceeds for general corporate purposes, which may include the payment of part of the purchase price for its previously announced acquisition of certain assets from SWEPI.
When the purchase was announced on or about May 4th the announcement has an interesting phrase in it. See Bold Below and let me know what it means.
(RTTNews) - National Fuel Gas Co. (NFG) Monday said it agreed to buy Royal Dutch Shell plc's (RDS.A) upstream and midstream gathering assets in Pennsylvania for about $541 million.
The transaction is expected to close on July 31, 2020, with an effective date of January 1, 2020.
As part of the deal, the company will acquire over 200,000 net acres in Tioga County, with net proved developed natural gas reserves of around 710 Bcf. At closing, these assets are expected to have flowing net production from both the Utica and Marcellus shale formations of approximately 215-230 MMcf/d, with shallow base declines and an average net revenue interest of approximately 86.5%.
In addition, the company will acquire approximately 142 miles of gathering pipelines and related compression, over 100 miles of water pipelines, and associated water handling infrastructure, all of which currently support Shell's Tioga County production operations.
Post-closing, the acquired assets are expected to generate net natural gas production in the range of 70 to 75 Bcf over the following twelve months.
Marathon Energy and National Fuel Resources, Inc.Announce Transaction
(June 3, 2020) WILLIAMSVILLE, N.Y. – Marathon Energy (“Marathon”) and National Fuel
Resources, Inc. (“NFR”) jointly announced today that they have entered into an asset purchase
Aagreement whereby Marathon will acquire NFR’s commercial and industrial gas contracts in
New York and Pennsylvania along with select other assets.
The agreement was signed May 22, 2020, and is subject to customary regulatory approvals.
Closing is expected to take place on or about Aug. 1, 2020.
Marathon’s President & CEO Jerry Drenis said, “The anticipated purchase of NFR’s book
coincides with Marathon’s expanded footprint, and enables us to continue increasing our
volumetric economies of scale. We are attracted to this opportunity because we have the greatest
respect for NFR and its team, the target market it serves, and our shared values of high levels of
customer service and industry leading low churn levels. We expect the transaction to be
accretive to earnings.”
“NFR has appreciated the opportunity to serve our customers over the past two and a half
decades,” said Jeffrey F. Hart, Vice President of NFR. “Marathon’s experience in the energy
sector and its strong reputation make it an excellent successor. With their strength of leadership
and attention to customer service, we are confident our customers will be well served by
Marathon. NFR's exit from the market comes as its parent company – National Fuel Gas
Company – focuses on other strategic areas of the energy market.”
Terms of the transaction were not disclosed.
About Marathon Energy
Marathon was founded in 1996 and is headquartered in Woodside, N.Y., with an operations
office in Syracuse, N.Y. Marathon provides wholesale and retail fuel oil, natural gas, electricity,
and a full suite of energy services to commercial and residential customers. The Company
currently serves 33 utilities in New York, New Jersey, Pennsylvania, and Maryland.
|06/11/2020||National Fuel Increases Dividend Rate for 50th Consecutive Year|
|06/03/2020||Marathon Energy and National Fuel Resources, Inc. Announce Transaction|
|05/28/2020||National Fuel Gas Company Announces Pricing of Public Offering of C...|
|05/28/2020||National Fuel Gas Company Announces Offering of Common Stock|
|05/18/2020||LIHEAP CRISIS Recovery Opens to Help Customers with Heating Bills|
|05/04/2020||National Fuel to Acquire Shell’s Integrated Upstream and Midstream ...|
|04/30/2020||National Fuel Reports Second Quarter Earnings|
|04/30/2020||National Fuel Adjusts Gas Supply Charges in Pennsylvania|
|04/27/2020||Second Quarter Fiscal 2020 Teleconference Announcement|
|04/07/2020||National Fuel Donates to COVID-19 Relief Efforts|
|04/01/2020||National Fuel Reminds New York Residents to Call Before You Dig|
|04/01/2020||National Fuel Reminds Pennsylvania Residents to Call Before You Dig|
|03/24/2020||LIHEAP Available for PA Customers Facing Financial Difficulties|
|03/24/2020||HEAP Available for NY Customers Facing Financial Difficulties|
|03/16/2020||National Fuel Closing New York Customer Assistance Centers|
|03/16/2020||National Fuel Pennsylvania Customer Assistance Centers to Close Tom...|
|03/14/2020||Utilities to Suspend Disconnections for Households Facing Hardships...|
|03/11/2020||National Fuel Announces Election of New Directors at Annual Meeting...|
|03/11/2020||National Fuel Declares Quarterly Dividend and Reports Preliminary V...|
|02/03/2020||National Fuel Adjusts Gas Supply Charges in Pennsylvania|
|01/30/2020||National Fuel Reports First Quarter Earnings|
look like Shell HAS NOT sold all Tioga County assets.
just saw Swepi had a well site permit approved for the Plummer Well site in Clymer Twp, Tioga County on June 23rd, 2020
That is encouraging news.......
Is this what you saw?
Authorization Search Details
|Site:||PLUMMER 802 WELL SITE OG ESCGP|
|Authorization type:||Erosion and Sediment Control GP-2|
|Authorization is for:||SITE|
|Status:||Issued on 6/23/2020|
Is this authorization type included in Permit Decision Guarantee? : No
Authorization status: Issued on 6/23/2020
Elapsed business days: 5
Permit Review Standard Task Information:
|Task||Start Date||Target Date||Completion Date|
Permit Review Notes:
|6/16/2020||The permit application package is complete, has been accepted, and is undergoing technical review.|
|Log in to DEP's eNOTICE to track this permit with automatic email updates|
we've been seeing things with "SWEPI" on them and were wondering if NFR bought the name as well? Thoughts?
Deal has not closed yet...ownership has not yet passed.
Maybe NFR found SWEPI less than honest to deal with.
I think it’s a good sign Swepi is applying for some new sites
Perhaps they are not selling all assets in Tioga county
cant help to wonder y they would be doing so if they are selling entire Tioga County book of business