Pennsylvania

Pennsylvania House Bill 557 - Guaranteed Minimum Royalty Act

An Act amending the act of July 20, 1979 (P.L.183, No.60), known as the Oil and Gas Lease Act, further providing for definitions; and providing for minimum royalty for unconventional oil or gas well production and for remedy for failure to pay the minimum royalty on unconventional oil or gas wells. Read More:  http://www.legis.state.pa.us/CFDOCS/billInfo/BillInfo.cfm?syear=2017&sind=0&body=H&type=B&bn=557

Pennsylvania Senate Bill 138

An Act amending the act of July 20, 1979 (P.L.183, No.60), known as the Oil and Gas Lease Act, further providing for definitions, for payment information to interest owners, for accumulation of proceeds from production and for conflicts and providing for joint ventures and for inspection of records. READ MORE:  http://www.legis.state.pa.us/cfdocs/billInfo/bill_history.cfm?syear=2017&sind=0&body=S&type=B&bn=138

Pennsylvania Senate Bill 139

An Act providing for protection for a lessor of natural gas rights who reports a violation or suspected violation of a contractual agreement and for remedies and penalties. READ MORE:  http://www.legis.state.pa.us/CFDOCS/billInfo/billInfo.cfm?syear=2017&sInd=0&body=S&type=B&bn=139

Pennsylvania Senate Bill 141

An Act amending Title 58 (Oil and Gas) of the Pennsylvania Consolidated Statutes, in development, providing for lease extended by production. READ MORE:  http://www.legis.state.pa.us/cfdocs/billInfo/BillInfo.cfm?syear=2017&sind=0&body=S&type=B&bn=141

Pennsylvania Senate Bill 142

An Act amending Title 58 (Oil and Gas) of the Pennsylvania Consolidated Statutes, in utilization, providing for unconventional oil and gas conservation by consolidating the Oil and Gas Conservation Law with modifications relating to definitions, standard unit order, process, administration, standard of review, hearings and appeals, establishment of units, integration of various interests, lease extension and scope, providing for gas and hazardous liquids pipelines; and making a related repeal. READ

STONE ENERGY CORPORATION ANNOUNCES AUCTION RESULTS FOR SALE OF APPALACHIA PROPERTIES

Stone Energy Corporation (NYSE: SGY) (“Stone” or the “Company”) today announced the results of the auction for the sale of all of its approximately 86,000 net acres in the Appalachia regions of Pennsylvania and West Virginia (collectively, the “Properties”), including approximately 53,000 core net Marcellus acres and drilling rights on approximately 44,000 net acres in the Utica, to EQT Corporation, through its wholly-owned subsidiary EQT Production Company (“EQT”), for a

Rex Energy Announces Sale of Ohio Utica Warrior South Asset

Rex Energy Corporation (Nasdaq:REXX) (“Rex Energy”) today announced that it entered into a purchase and sale agreement with Antero Resources Corporation (“Antero”) pursuant to which Antero will acquire the company’s Ohio Utica assets in the Warrior South Area. Rex Energy is selling its entire interest in the assets and expects to receive net proceeds at closing of approximately $30.0 million (subject to customary closing and post-closing adjustments). The assets that

Eclipse Resources Announces Asset Divestiture

Eclipse Resources Corporation (NYSE:ECR) (the “Company” or “Eclipse Resources”) announced today that it has completed the sale of approximately 9,900 net acres in eastern Noble County and western Monroe County, Ohio for approximately $63.8 million to an undisclosed buyer. The assets sold were predominately undeveloped acres in the Utica Shale formation and included de minimis net production of approximately 1,000 Mcfe per day. Proceeds from the sale will be used

Anadarko Announces Sale Of Marcellus Shale Natural Gas Assets

Anadarko Petroleum Corporation (NYSE: APC) announced today it has agreed to sell its operated and non-operated upstream assets and operated midstream assets in the Marcellus Shale of north-central Pennsylvania to Alta Marcellus Development, LLC, a wholly owned subsidiary of Alta Resources Development, LLC, for approximately $1.24 billion. The midstream assets in the Marcellus owned by Western Gas Partners, LP (NYSE: WES), Anadarko’s sponsored master limited partnership, are excluded from the

124.35+/‐ NET MINERAL ACRES UNITIZED ACREAGE NORTH AND SOUTH STRABANE, WASHINGTON COUNTY, PA

124.35+/‐ Net Mineral Acres in North and South Strabane Townships, Washington County, Pennsylvania. This acreage is leased with Range Resources at 17.5%, gross. As of August 1, 2016, 5.1508+/‐ acres will be in the Range Resources Zediker Station C Unit—Unit Dec is available. We have been told that additional acreage will be in the Zediker Station B and D Units. The official Unit Declarations for the Zediker Station B and