Carl Icahn’s Claws Go Deeper into Talisman – 2 New Board Members

vulture clawsMDN recently told you the sad news that corporate raider Carl Ichan now has his claws in Marcellus driller Talisman Energy, just like he does at Chesapeake Energy (see Icahn Now Throwing His Weight Around at Talisman, Like Chesapeake).

We’re sorry to have to report the Icahn’s claws are now sunk in a lot further. Talisman announced on Monday they’ve caved in to Icahn’s pressure and have appointed two new board members that are Icahn lackeys, there to do their master’s bidding, which will  no doubt include massive layoffs and selling pieces of the company so Icahn can turn a tidy profit on his stock when he flips it…
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Who Dat Sneakin’ Around my Well Pad…PA DEP?!

We’re not quite sure what to make of this one… PA State Sen. Scott Hutchinson (Republican from Butler County) has introduced legislation to prohibit the state Dept. of Environment Protection (DEP) from using video surveillance cameras, some of them with “night vision”, to monitor and enforce environmental laws at oil and gas sites. DEP also uses “unmarked cars” in drive-by inspections and Hutchinson wants that fixed too.

Is the DEP being shifty? Are they sneaking around? Should they better announce themselves? Or is this just a tempest in a teapot as DEP says it is? You decide…
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Developments in WV Lawsuit to Rescind $5/Acre Leases

Way back in March MDN told you about a lawsuit filed by landowners in Preston County, WV. They sued Magnum Land Services and Belmont Resources LLC to have leases they were snookered into signing for as little as $5 per acres rescinded on the basis of fraud and a variety of other legal claims (see Update on WV Lawsuit to Rescind $5/Acre Leases). There’s been a major development in the case.

U.S. District Judge Irene Keeley has dismissed charges against 19 employees from Magnum and Belmont because the paperwork was not timely. She also dismissed half the counts brought by the landowners against the companies. Plus, we now have a date for a trial: October 2014. Justice delayed…
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Iroquois Gas Open Season for New South-to-North Marcellus Pipeline

Iroquois Gas Transmission System announced yesterday a non-binding open season to gauge interest in their new “South-to-North” project that will move and additional 300,000 dekatherms per day of Marcellus Shale gas from Pennsylvania and New York to as far north as Canada. There’s a change! Normally natural gas comes from Canada–now we’re sending it the other way.

The new “SoNo” project, as they call it, would not involve any new pipeline construction but will instead rework existing pipelines and compressor stations. Target in-service date is November 2016. The open season lasts from now until January 24, 2014…
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Steel Building Manufacturer Hits it Big in the Marcellus

A small regional company that builds steel buildings, located in western PA, has rocketed from the minor to the major leagues in their industry. Steel Nation Inc. is now ranked as the 11th largest metal building construction company in the country–thanks to the Marcellus Shale.

Steel Nation’s story is interesting, and instructive, for those looking to crack into the shale supply chain. It’s a story of creativity and determination…
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The “Flexible” (and Capricious) Ways of EPA Admin. McCarthy

It used to be that the law (and regulations, which are based on and have the power of law) were “blind” and not a respecter of men nor companies. The law was designed to apply to all equally and without exception. But when you have a law-breaker–someone who flouts the law–as your president, you then get a situation where the law is twisted to the political whims of those in power. Don’t like a particular law because you oppose it? No problem–just ignore it and don’t enforce it. Don’t like the political blow back of enforcing laws and regulations you yourself passed? No problem–just be “flexible” with how you implement said law or regulation.

The latest “flexible” Obama official is none other than newly minted EPA Administrator Gina McCarthy, who is signaling she won’t enforce the draconian carbon regulations her agency recently established that are designed to kill coal. Instead of killing coal all at once, she’ll toy with it, like a cat with mouse…
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US Chamber to Obama: Don’t Let EPA Screw Up Fracking Miracle

One of the finest organizations in America–the U.S. Chamber of Commerce–sent a warning to President Obama yesterday to put him on notice that if the Obama Environmental Protection Agency continues down the road of federal regulation of fracking (something that is unconstitutional by the way), it will kill the very jobs and economic success that Obama has had nothing to do with but takes credit for. OK, the Chamber didn’t use that exact language, but that’s our take on their sentiment.

Chamber President Thomas Donohue essentially said “don’t go there” with respect to the EPA wanting to horn in with regulating fracking…
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ACCF to DOE Sec. Moniz: Please Hurry Up LNG Export Approvals

On Monday, the American Council for Capital Formation (ACCF) sent a letter to Dept. of Energy Secretary Ernest Moniz to encourage him to continue approving new liquefied natural gas (LNG) export terminals, and to “goose him along” and get him to speed up the process (full copy of the letter embedded below). To be fair, DOE has now approved five such facilities which will allow the export of LNG to countries without a free trade agreement with the U.S. However, there are another 21 applications waiting to be reviewed–and it took 65 days between the last two approvals (way too long).

ACCF respectfully requests Moniz to hurry it up in their letter, and provides him with compelling arguments for why more LNG exports should go forward…
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