Energy Transfer Considers Sale of Rover Pipeline for $2.5B

Super secret sources are whispering to Bloomberg that Energy Transfer is seriously considering selling its 33% ownership stake in the 713-mile, 3.25 billion cubic feet per day of natural gas Rover Pipeline, a line that flows Utica Shale gas from Ohio into Michigan and all the way to Ontario, Canada. Such a sale would net ET somewhere around $2.5 billion. Yes, we’re shocked!
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Toby Rice Wants to Make EQT a “Fun Place to Work”

As of today Toby Rice has been on the job as EQT’s CEO for one week. According to an interview he granted the Pittsburgh Business Times, so far there have been “no major surprises.” Rice has begun meeting with all 800 EQT employees–some in groups via electronic town hall, others individually face-to-face. It appears his main focus has been to form and add people to an “Evolution Committee”–charged with executing Rice’s previously laid out 100-day plan. Toby also wants to EQT to be a “fun place to work.” He says right now, it’s not.
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800 “Insulators” Coming to Shell Ethane Cracker Site

Not this kind of insulator…

When we first read a headline about 800 “insulators” coming to the Shell ethane cracker in Monaca, PA, we immediately thought it meant some sort of electrical component–you know, the things you see along electric lines near poles? But no, the article was not about electric insulators, but about *people* call insulators–members of the International Association of Heat and Frost Insulators and Allied Workers union.
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Dela. River LNG Export Dock Will Get Up to 360 Truck Trips/Day

Traffic on the Ben Franklin Bridge (Photo credit: Jeff Fusco, Philly Magazine

The propaganda drumbeat against a proposed LNG dock facility in New Jersey continues by Big Green. New Fortress Energy is building a natural gas liquefying plant in northeastern Pennsylvania. The LNG produced at the plant will get trucked to the bank of the Delaware River on the New Jersey side where New Fortress plans to build a pier allowing two ships at a time to dock and load the LNG. Here’s the latest line of attack against that plan: That loading facility *may* see up to 360 truck trips per day. Which is supposed to enrage area residents against the plan.
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EnerVest Still Owns 7K Wells, 1.1 Million Acres in Ohio

It’s been some time since we’ve checked in on EnerVest, a private equity firm that owns a lot of acreage and wells (most of them conventional) in the Marcellus/Utica region. We spotted an update on the company’s holdings given by Steve Downey, EnerVest’s vice president of business development. Steve also happens to be president of the Ohio Oil & Gas Association (OOGA).
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American Energy Partners Buys Hickman Geological Consulting

American Energy Partners, Inc. (AEPT), based in Allentown, PA, has just added a fourth subsidiary/division to the company. AEPT has agreed to acquire 100% of Hickman Geological Consulting, LLC in an all-stock deal. AEPT is giving owners Josh and Jessica Hickman 40.5 million shares of AEPT stock as payment. Josh Hickman is an AEPT board member. As of this morning AEPT shares are trading (on the Pink Sheets, over the counter) at $0.0055 per share (a little over half a penny per share). Doing the math, we peg the value of the deal at $222,750.
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Energy Stories of Interest: Wed, Jul 17, 2019

MARCELLUS/UTICA REGION: PA grants to extend natural gas service in Butler, Crawford, Northampton counties; U.S. Senate committee passes bills aimed at Appalachian natural gas and coal; NATIONAL: Number of financially distressed oil, gas companies increasing: S&P Ratings; Natural-gas traders bet heat wave will fizzle.
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