Yesterday, the final final (pinky swear) last document was finally finally released. Until the next one comes along… Yesterday’s document was the confidential settlement agreement (embedded below). It contains a bombshell surprise… Continue reading
MDN has chronicled the messy firing of Chesapeake Energy’s founder and “controversial” leader Aubrey McClendon. We also told you about three of his long-time “friends” who were paid $15.4 million to stick around after corporate raider Carl Icahn got his way and had Aubrey fired (see Chesapeake Pays $15.4M to Prevent Exodus of Top Talent). Two of the three well-bonused “friends” have now received their own pink slips from Chesapeake. Steve Dixon, who was COO and acting CEO after Aubrey left, and Martha Burger, head of HR at the company, have been sent packing by Chesapeake’s new CEO Doug Lawler. No word on whether they get the full payout bonus which was due to be granted over the span of three years–in 2016, 2017 and 2018.
The Dimock, PA story simply won’t go away–because the mainstream media won’t let it. Tell a lie long enough… Two Susquehanna County residents (one of them from Dimock, the other from 20 miles away from Dimock) who have sued Cabot Oil & Gas claiming nearby drilling and fracking polluted their water wells, are on their way to Washington, DC in yet another publicity stunt to request the federal Environmental Protection Agency (EPA) re-open its investigation of Dimock. Apparently the “revelation” that someone inside the EPA may have created a PowerPoint slide favorable to their plight has given them renew hope. So off they go–even though the EPA has already conducted a months-long, detailed scientific study of 64 water wells all around Dimock Township and found very few problems–almost all of which have been or could be corrected (see EPA Closes the Door on Dimock Investigation – Water is Clean). Continue reading
Last week MDN told you that tough new air emission standards would begin this week for drillers in Pennsylvania’s Marcellus Shale (see Tough New Air Standards for PA Marcellus Drillers Start Next Week). The PA Dept. of Environmental Protection (DEP) is giving drillers two options: either get an air quality plan pre-approved by the DEP for every well drilled (adding lots of time to drilling a well), or comply with the DEP’s stricter version of new federal standards issued in April 2012–that is, become certified that every well you drill lives up to a certain standard.
Which option are drillers choosing–a plan for every well or the tweaked federal standard? According to the industry organization Marcellus Shale Coalition, looks like most drillers are going with… Continue reading
About a month ago, MDN told you that a couple of Scranton-area lawyers were looking for landowners with Chesapeake Energy leases who believe they’re getting the short end of the royalty stick, to participate in a class action lawsuit against Chessy (see Some PA Landowners Mull Decision to Sue Chesapeake over Royalties). At issue is how royalties are calculated–what is considered to be a post-production cost. Some landowners say Chessy is claiming too many expenses and in the process shorting payments to them.
Some landowners in Bradford County, PA have decided to join the lawsuit: Continue reading
Williams has announced last Thursday an “open season” (a time to lock in contracts for natgas pipeline capacity) for their Transco pipeline in the Marcellus/Utica Shale region. If Williams gets enough interest, they’ll look to expand the Transco pipeline in PA and eventually move an additional 1 billion cubic feet of natural gas per day from the northeast to markets along the East Coast and the southeast.
Politicians like U.S. Senator Bob Casey (from Pennsylvania) are sickening. He makes us want to throw up. Casey introduced and is lead sponsor of legislation in the Senate called the FRAC Act—Fracturing Responsibility and Awareness of Chemicals. It is an anti-drilling bill plain and simple. Casey has repeatedly called for federal intervention in his own state on the issue of fracking and shale drilling. Then he turns around and sticks his hand out and wants Shell to locate a $2 billion ethane cracker plant that uses shale gas in his state (see The Two Faces of Sen. Robert Casey (D-PA) on Shale Drilling).
Once again, Casey has conveniently flipped sides and has his hand out. The enormous job growth in Pennsylvania due to shale drilling cannot be ignored, so Casey figures he can grab some money from the federal till for a jobs training program in his state (buys him more votes, you see). Earth to Casey: The shale drilling industry is already hiring and training thousands of people in your state–without the need to transfer taxpayers’ hard-earned money to your walking-around, vote-buying account… Continue reading
Dominion, a huge energy company that does everything from shale drilling to pipelines and processing plants to selling gas and electric as a utility, has just sold the newly built and operating $500 million NGL processing plant in Natrium, WV to…itself. The Natrium plant was due to go online late last year. Then it was forecast be online in the spring of this year. The plant, which separates natural gas liquids from methane in the Marcellus/Utica Shale, finally went online in late June (see Blue Racer Midstream’s Natrium, WV NGL Plant Now Up & Running).
Blue Racer Midstream officially took title to the Natrium plant as of August 9th. Blue Racer is a joint venture between Dominion and Caiman Energy II. Dominion essentially owns Blue Racer, ergo Dominion sold the plant to itself. These things happen on paper–no doubt for more favorable tax and accounting purposes for investors. Dominion’s announcement from yesterday: Continue reading