GreenHunter Resources 2Q14: Still Waiting to Launch

waiting to launchGreenHunter Resources (i.e. GreenHunter Water) issued their second quarter 2014 update yesterday. We have the update below so you can read through it. Our quick take: GreenHunter is still “waiting to launch.” They are an important player in the freshwater/wastewater management arena for the Marcellus and Utica region. But the company is small (total revenue for the first six months of 2014 was just north of $15 million). According to GreenHunter’s COO, the projects they’re working on for the rest of this year and in 2015 will take the business “to an entirely new level.” If the Coast Guard allows them to launch barge shipments, we think he’s right. Revenue for the first six months of 2014 is up a very health 45%, and the bleeding (losses) have slowed from $0.30 per share for the first six months in 2013 to $0.14 per share for the first six months of 2014…
Continue reading

Seventy Seven Energy’s 1st Quarterly Update: Revenue Down 6%

It was a loooong labor and delivery, but finally Seventy Seven Energy was born a little over a month ago (see Long Labor & Delivery: Seventy Seven Energy Born Yesterday). Who or what is Seventy Seven Energy? It’s the old Chesapeake Oilfield Operating (COO) division of Chesapeake Energy–the services arm that competes with companies like Halliburton and Baker Hughes. Chessy’s current CEO Doug Lawler, who seems to report to corporate raider Carl Icahn, spun out COO into its own company to improve Chessy’s balance sheet and make Carl’s stock holdings worth more. Such is life in corporate raider America. Anywho, the new Seventy Seven Energy (or SSE as they call themselves), a company with operations in both the Marcellus and Utica, issued their first quarterly operational and financial update yesterday–an update that will be watched closely…
Continue reading

Downstream Calumet Buys Upstream Specialty Oilfield Services

The bigger fish keep on gobbling up the smaller fish–in the Marcellus and Utica Shale supply chain. You may recall MDN first wrote about a downstream chemical manufacturing company called Calumet back in Sept. 2012 when the company announced they are building a gas-to-liquids (GTL) plant in Karns, PA to convert Marcellus Shale gas to diesel fuel (see Chemical Manufacturer to Build Gas-to-Liquids Plant in PA). Then, in March of this year, Calumet purchased Anchor Drilling Fluids outright for $235 million in cash (see Downstream Petrochemical Co Buys Upstream Frack Fluid Co). Anchor manufactures drilling mud and frack fluids used in shale drilling in the Marcellus, Utica and just about every other major shale play across the U.S. Last Friday Calumet announced they’ve purchased Specialty Oilfield Solutions (SOS), a full service solids control and drilling fluids company with operations in the Marcellus, Eagle Ford and Utica shale plays…
Continue reading

Fourth Time the Charm for Youngstown Frack Ban Measure?

You’ve got to hand it to those anti-drillers in Youngstown. When anti-fracking insanity takes hold–it goes deep. Anti-drillers have successfully gotten enough signatures to put a ballot measure before voters three times now. The measure would enact a ban on fracking in Youngstown. Not that anyone actually wants to drill in the City of Youngstown. However, passing such a ban would a) force some employers to relocate out of town (not an empty threat, they’ve said it many times), and b) send a signal loud and clear that Youngstown wants to drop out of the flourishing Utica Shale bonanza taking place in the state. Makes no difference to the fracking insane that they will royally screw the city with such a ban–they’ve just collected enough signatures to put the measure on the ballot a fourth time…
Continue reading

Will PA’s Marcellus Miracle be Snuffed Out by a Severance Tax?

Every now again you need to step back and consider the big picture when it comes to the miracle of fracking and horizontal drilling. Pennsylvania has seen an economic revolution from the Marcellus Shale industry. That revolution is in danger of being snuffed out by Democrats like gubernatorial candidate Tom Wolf who, if elected, promises to implement a Marcellus-killing severance tax. And no, this is not wild speculation. If you look at recent history, such a scenario is supported by the evidence. David Spigelmyer, president of the Marcellus Shale Coalition, penned an op-ed piece that ran in the Philadelphia Inquirer yesterday to “set the record straight” on just what the Marcellus industry has meant in PA and what a severance tax would do to the industry in that state should it be implemented…
Continue reading

US Dept of Transportation Proposes New Rules for Shale Oil Trains

MDN entered the debate over whether or not the movement of shale oil trains, specifically from the Bakken Shale of North Dakota, should be revealed to the public or not, based on security concerns (see New York Caves to Anti-Drillers Again: Discloses Oil Train Movements). Our interest is based on the fact that such oil trains, loaded with Bakken light crude (which contains some NGLs or natural gas liquids like propane and ethane) move through the Utica/Marcellus region–through Ohio and New York on their way to the Port of Albany. Last week we brought you an interesting viewpoint/opinion from someone else (see Revisiting the Bakken Crude Shipment Through NY Debate). The Dept. of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) has issued a draft set of new rules (see the official 65-page document below)…
Continue reading

Pipeline will Violate “Virgin” Land, Cross “Prized Farmland” (Gag)

Did you know that if you build a natural gas pipeline through an area where previously there wasn’t a pipeline, it’s the equivalent to violating a virgin? And if the ground happens to be farm fields, the gas flowing through the pipeline would be “coursing” through that line (almost recklessly) and that farm fields are magically  converted to be “most prized farmland”? Those are the pejorative adjectives and metaphors used by a liberal reporter for the Harrisburg Patriot-News as he introduces an article on the proposed Williams Atlantic Sunrise Pipeline project that extends the Transco pipeline and reverses the flow of natural gas to bring Marcellus Shale gas from PA to markets in the northeast and south…
Continue reading

Winners’ Yearbooks for Oil & Gas Awards Spring Events

MDN editor Jim Willis was privileged to participate as a moderator for two panel sessions at the 2013 Northeast Oil & Gas Awards event, held in March 2014 in Pittsburgh (see Oil & Gas Awards – List of Winners, Bang-up Time!). In May we brought you full recordings for each session at the conference (see Oil & Gas Awards “Northeast Conference for Excellence” Now on MDN). Jim liked it so much, he’ll fly to Dallas in October to moderate a few more panel sessions at the Southwest version of the Oil and Gas Awards (sign up to attend here). But let’s take another look back at the spring. Our friends at the O&G Awards held three events this past spring to recognize the best of the best, and they’ve just released Winner’s Yearbooks for each event: Gulf Coast, Northeast & Rocky Mountain regions. Have a look (below) to see if you spot a picture of yourself or a friend/colleague!…
Continue reading

PA Congressman Rips EPA over “War on Coal” at Pittsburgh Hearing

Pennsylvania Congressman Tim Murphy delivered a sterling statement at a field hearing held by the federal Environmental Protection Agency (EPA) in Pittsburgh last Friday. The EPA is doing a road show to take comments on their new, very restrictive regulations that are part of so-called climate change regulations (how stupid is it that we say the climate changes–of course it does!). Murphy’s comments address the Obama EPA’s war on coal. That what he calls it, that’s what everyone (but Obama and the EPA) calls it. We bring you his testimony before the EPA because (a) it takes aim at an out-of-control EPA, an issue near and dear to our hearts for lo these many years, and (b) because the EPA won’t stop with coal. They’re coming for natural gas next, after they’ve eliminated coal from the picture. You can bank on it…
Continue reading

MDN Editor Jim Willis Appears on Scranton Talk Radio

From MDN editor Jim Willis: I don’t do it often, but every now and again I’m contacted to appear on a radio talk show to discuss Marcellus Shale drilling and related issues. Last week I was contacted by David Madeira who hosts a daily morning talk show in the Scranton/Wilkes-Barre area on 94.3 FM “The Talker”. Dave is a great guy and a great host. He truly makes it easy! Dave wanted the low down on the story that was started way back in June by a liberal PBS reporter who is quoting two former PA State Health Department employees who claim they were muzzled from talking to residents claiming to have suffered health impacts from nearby shale drilling. I wrote up the story of how the media has conducted a smear campaign against the health department (see PA’s Sec of Health Fires Back at Reckless Accusations Against Dept). On the call, I walk David through how a story like this is manufactured and recycled through “mainstream” liberal media. Give it a listen!
Continue reading