Range Resources Sells 2% Royalty Interest + 20K Acres for $634M

On Friday Range Resources, the very first company to sink a Marcellus well back in 2004, announced two deals that will net the company $634 million total. In the first deal, Range sold a 2% overriding royalty interest on 350,000 acres “in southwest Appalachia” for $600 million. In the second deal, Range sold ~20,000 non-producing acres in Armstrong County for $34 million ($1,700/acre).
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What Route Will New Fortress LNG Train Take from NEPA to NJ Pier?

As we have and continue to cover, there is an exciting development happening in northeastern Pennsylvania. New Fortress Energy has begun to clear the site where they will build an LNG liquefaction plant in Wyalusing (see Work Begins to Clear Site for NEPA Landlocked LNG Export Plant). Wyalusing is hundreds of miles from the nearest port where ships can load LNG. The LNG has to get from Wyalusing (point A) to a proposed new pier New Fortress plans to build on the Delaware River (point B).
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Cement Plant Near Allentown Converting from Coal to Marcellus Gas

A new Pennsylvania PIPE (Pipeline Investment Program) grant for $320,950 will help extend a natural gas delivery pipeline to the Keystone Cement Co. near Allentown, PA, which will allow the plant to replace coal with natural gas, used to manufacture cement. Total cost of the new pipeline project is over $2 million. The grant helps. According to the engineer working on the plan, it takes truck traffic off the roads and lowers costs to the plant.
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3 PA Senators Still Trying to Join Lawsuit Against DRBC Frack Ban

In May 2016, a landowner in Wayne County, PA filed a lawsuit against the Delaware River Basin Commission (DRBC) asking a judge to declare that the DRBC does not have jurisdiction to prevent construction of a natural gas well (see Wayne County, PA Landowner Sues DRBC Over Fracking Ban). Last fall three PA State Senators asked the court to allow them to join the lawsuit on the side of the landowner (see 3 PA Senators Seek to Join Lawsuit Against DRBC Frack Ban). In May the judge turned them down. The three brave Senators have filed an appeal of that denial.
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Drumbeat Grows Louder for WV to Release Details on China Deal

A week ago MDN told you that Joe Manchin, one of West Virginia’s two U.S. Senators, is not happy that details of the deal signed between WV and China in which China agreed to invest $83.7 billion (with a “b”) in WV’s shale and petrochemcial industries is secret (see U.S. Sen. Joe Manchin Demands Details on China’s WV Deal). Manchin claims the Chinese want to abscond with WV’s natural resources–natural gas, ethane, propane, etc.–and create jobs back in their own country. Otherwise why would the projects China is looking to invest in remain secret?
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CNX 2018 Corp Responsibility Report – Proud of NatGas

CNX Resources Corporation, formerly CONSOL Energy, released its “Corporate Responsibility Report” on Friday. CNX is headquartered in Pittsburgh and focuses totally on the Appalachian region. Corporate responsibility, sometimes called “Corporate social responsibility” (CSR), is an effort by a company to be socially accountable…to itself, its stakeholders, and the public. Companies like CNX aim to be conscious of the impacts they have on all aspects of society–including economic, social, and environmental. CNX (and others) want to leave the world a better place. How did CNX do in 2018?
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Long Island Community Fights Back Against Cuomo Pipeline Ban

Lynbrook, NY

Lynbrook, New York is a village in Nassau County–on Long Island. Lynbrook’s leaders are organizing an August 8 rally to push Gov. Andrew Cuomo to allow the Williams Northeast Supply Enhancement (NESE) pipeline project to get built. In May, Cuomo’s corrupt Dept. of Environmental Conservation (DEC) rejected the project, at the direction of Cuomo himself (see NY Gov. Cuomo Denies Permit for Williams NESE Pipeline to NYC). As we said at the time, Cuomo has unleashed an economic atom bomb on the Greater New York City region, because the region’s two gas utility companies are now refusing to hook up any new gas customers–residential AND business (see Economic Fallout from Cuomo’s Decision to Kill NESE Pipeline).
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Energy Stories of Interest: Mon, Jul 22, 2019

MARCELLUS/UTICA REGION: Workforce development in Susquehanna County takes place on its own; NATIONAL: Schlumberger Appoints Olivier Le Peuch as CEO; U.S. natural gas prices sinking again; INTERNATIONAL: LNG Limited move business to USA; So you think we’re reducing fossil fuel? — think again.
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