American Oil and Gas Reporter - April 2021 - 19

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rejoin the northeastern Butler County
communities where LOLA Energy is
making a substantial investment with
this acquisition. We look forward to
making our presence known in a
positive way, " says Jim Crockard,
LOLA Energy's chief executive officer.
According to LOLA Energy, the
acquired company's assets and
operations include:
· 22,000 net mineral acres in the
natural gas liquids rich window of the
Marcellus and Burkett shale plays in
Butler County;
· 48 proved developed producing
horizontal oil and gas wells with more
than 300,000 feet of completed pay and
production of approximately 85 million
cubic feet of natural gas equivalent a
day, even with many wells choked back
while a pipeline is being
recommissioned;
· 18 drilled and uncompleted
horizontal wells and four top set
planned horizontal wells; and
· An extensive water system,
including a water pump station, water
tanks and impoundment, and a 30+ mile
water line transfer network.
The company indicates the
production and reserves benefit from a
high concentration of natural gas
liquids. The gas composition mix is
approximately 73% natural gas, 25%
natural gas liquids, and 2%
condensate oil. ❒

Gas Storage Levels
Decline By 81 Bcf
WASHINGTON-Underground
natural gas storage in the United States
stood at 1.764 trillion cubic feet on
March 26, 1.0% below the five-year
average, according to the U.S. Energy
Information Administration. That was
down 81 billion cubic feet from the
1.764 Tcf in storage on Feb. 26, which
was 8.8% above the five-year average.
The March. 26 storage number was 225
Bcf lower than a year ago, when gas
storage stood at 1.989 Tcf.
Gas storage in the East Region was
307 Bcf on March. 26, 1.0% below
the five-year average, and 76 Bcf less
than on Feb. 26, when storage stood at
383 Bcf, 7.7% above the five-year
average. East Region gas storage on
March 26 fell 77 Bcf from a year ago,
EIA reports.
Gas storage in the Midwest stood
at 401 Bcf on March. 26, 1.5% below
the five-year average and 64 Bcf less
than the 465 Bcf in storage on Feb.
26, which was 1.5% above the five-

year average. March 26 gas storage in
the Midwest was 77 Bcf less than a
year ago.
In the Mountain Region, EIA
continues, gas storage was 112 Bcf on
March. 26, 5.7% above the five-year
average and 5 Bcf less than the 117 Bcf
stored on Feb. 26, which was 3.5%
above the five year-average. Gas storage
in the Mountain Region was 20 Bcf
more than a year ago.
Gas storage in the Pacific Region
was 194 Bcf on March 26, 2.6%
above the five-year average and 16

Bcf less than the 210 Bcf stored on
March 26, which was 9.9% above the
five-year average. Pacific Region gas
storage on Feb. 26 was down 3 Bcf
from a year ago.
In the South-Central Region, gas
storage levels on March 26 were 749
Bcf, 2.0% below the five-year average
and 79 Bcf more that the 670 Bcf in
storage on Feb. 26, which was 15.8%
below the five-year average. The March
26 gas storage level for the SouthCentral Region was down 89 Bcf from a
year ago. ❒

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APRIL 2021 19
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American Oil and Gas Reporter - April 2021

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