The political “leaders” in Franklin Park (Allegheny County, near Pittsburgh) have decided to reject a proposal to drill a shale well under (not on) the 80-acre Linbrook Park. With a signing bonus of $283,500 plus 18% royalties, the Franklin Park Borough would have seen revenue of *at least* $1 million. Talk about stupid.
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Was PA Supreme Court Right to Tax Strippers? PIOGA Pushes Back
Did the Pennsylvania Supreme Court err in its judgment declaring so-called “stripper wells” can be taxed under the 2012 Act 13 law, slapped with an impact fee assessment, if those wells produce more than 90,000 thousand cubic feet per day (Mcf/d) of gas in a single month (see PA Supreme Court Rules Strippers Not Exempt from Impact Fee)? We have a different take on the high court’s decision than others.
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County DA’s ME2 Pipe Criminal Probe Evidence: Instagram Post
Since when did calling a woman on Instagram a “retard” and a “c–t” become a crime? Sure, the language is crude and offensive. But a crime?! A pipeline worker in the Philly area used that language responding (in exasperation) to an anti, and his comments appear to be all the evidence Chester County District Attorney Tom Hogan has so far in his “criminal” probe of Mariner East 2 pipeline.
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3 Important Marcellus/Utica Pipeline Cases Up for Review @ SCOTUS
Three important pipeline lawsuits are under consideration at the U.S. Supreme Court, waiting for the court’s decision on whether or not to hear them. One of the three, involving an appeal of whether or not Mountain Valley Pipeline (MVP) should have the right to use federal eminent domain laws, gets reviewed tomorrow.
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Franklin County, Va. Approves MVP Gate Station Permit
Despite setbacks from Big Green groups launching a blizzard of lawsuits and regulatory challenges, Equitrans’ (EQT Midstream) 300-mile Mountain Valley Pipeline (MVP) is now 70% built (see Shocker: Mountain Valley Pipeline Now 70% Built, Online by 4Q19). The project continues to see positive momentum, the latest example coming from Franklin County, Va.
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Moratorium on New NatGas Customers Coming in NYC Area
Consolidated Edison (Con Ed) and National Grid–both large utilities that operate in New York City and its suburbs–are warning that unless new natural gas pipelines are built to the NYC region, they will slap a moratorium on hooking up any new natgas customers. Andrew Cuomo’s chickens are now coming home to roost.
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Finalists Announced for 2019 Northeast Oil & Gas Awards
Once again Marcellus Drilling News is happy to partner with and support the Oil & Gas Awards, for 2019. The Awards boys have just released the of finalists for the Northeast Awards, being held March 14 in Pittsburgh. This year six of the entrants for the awards contracted with MDN editor Jim Willis to help them prepare their entries. It was a blast for Jim to dig in and understand more about the companies submitting an application for the awards–and to help them craft what we hope are winning entries! Jim worked with some true professionals from the companies entering the awards, it was a pleasure. Below is a list of the finalists. Good luck!
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Energy Stories of Interest: Thu, Jan 17, 2019
MARCELLUS/UTICA REGION: Gov. Wolf re-nominates Pat McDonnell for DEP, Cindy Dunn for DCNR secretary; Tri-State Shale Coalition helping region compete; Canadian engineering firm opens first U.S. office in Pittsburgh; FERC: West Rockhill site ‘optimal’ for compressor station; NATIONAL: EIA expects relatively flat natural gas prices, continued record production through 2020; EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020; Frack jobs peaked last May/June; The top Oil & Gas industry trends to watch in 2019; U.S. natural gas demand for electricity can only grow; FERC appointment critical to setting market-driven energy policy; Exxon argues for Texas justice as it defends self from climate change lawsuits; Shell names new Upstream director; EPA nominee Wheeler would not call climate change ‘the greatest crisis’ facing the planet.
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Scalding Letter to EQT by Big Investor: Replace Top Mgmt Now
On Monday we told you about a letter written by investment firm D.E. Shaw, one of EQT’s largest shareholders (owns 4.5% of outstanding shares), to the EQT board (see WSJ Says EQT is “Failing”, DE Shaw Says EQT Mgmt “Not Up to Task”). At the time we hadn’t see a full copy of the letter–but we have now (copy below). The letter minces no words.
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NYSE Threatens Eclipse Resources with Stock Delisting
The NYSE (New York Stock Exchange) has sent a notice to Eclipse Resources telling the company that the average 30-day price of the company’s stock has fallen below $1 per share–and unless they get the price boosted, the exchange will delist the stock.
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Landowner Group Sues NY State to Allow Propane Fracking
This news is a bit dated, but still interesting and is new for us: Last October a group of landowners in Tioga County, NY filed a lawsuit to force the NY Dept. of Environmental Conservation (DEC) to quit dragging its feet and set a date to consider the groups application to allow LPG (liquefied petroleum gas, i.e. propane) fracking for a shale well.
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Antero “Nuisance” Lawsuit Heard by WV Supreme Court Temp Judges
Three years ago lawsuits filed by some 200 West Virginia residents against Antero Resources were combined into a class action lawsuit (see More People Pile on Antero, Seek to Join Mass “Nuisance” Lawsuit). The lawsuits are called “nuisance” lawsuits because, according to the plantiffs, Antero is a nuisance to them–truck traffic, noise, lights at night, etc.
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Peregrine Energy Buys Royalty Rights in Greene County, PA
There are companies that will purchase landowners’ (rights owners) royalty payments–giving them a lump sum payment up front in return for signing over all future royalty payments to the company buying the rights. Peregrine Energy Partners is one such company and has just purchased an unspecified amount of royalty payments in Greene County, PA.
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PA’s Largest NatGas-Fired Electric Plant Officially Online
Invenergy blasted out a press release yesterday to announce that their 1,480 megawatt, $1 billion Marcellus gas-fired electric plant, called the Lackawanna Energy Center (located near Scranton, PA) is now fully, 100%, online.
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Delayed ME2 Pipeline Cost PA a $675M Plastics Plant + 1K Lost Jobs
Braskem USA, headquartered in Philadelphia had a decision to make in 2016: Locate a new polypropylene plant in their own backyard, at the Marcus Hook refinery site on the outskirts of Philly–or locate it in Texas. They picked Texas because not enough NGLs (propane) were flowing to Marcus Hook due to delays (caused by Big Green lawsuits) in the Mariner East 2 pipeline.
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Energy Stories of Interest: Wed, Jan 16, 2019
MARCELLUS/UTICA REGION: Supreme Court may consider challenge to MVP, Natural Gas Act; Gov. Tom Wolf comes out as Pennsylvania’s ‘Encourager-in-Chief’ in inaugural address; OTHER U.S. REGIONS: U.S. ethane company with Russian ties set to break into Chinese market from Texas; NATIONAL: EIA’s 2019 Henry Hub price forecast slips to $2.89; little relief seen in 2020; U.S. natgas output, demand seen rising to record highs in 2019; Williams Companies targets LNG upside via Transco expansions; Ex-Halliburton chairman Dave Lesar to start new oil-services company; INTERNATIONAL: Reports of OPEC’s demise have been greatly exaggerated; Yellow Vest protests in France, Canada.
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