Ohio Landowners Lose Royalty Lawsuit Against Chesapeake Energy

A group of Ohio landowners sued Chesapeake Energy in 2015 in a class action, alleging that Chesapeake had shorted them on royalty payments (see OH Landowners File Royalty Class Action Lawsuit Against Chesapeake). Four long years later and an Ohio federal judge ruled yesterday…in favor of Chesapeake.
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Appalachian Basin Upstream O&G Report: Less Drilling, EQT Rumors

Our good friend Charlie Schliebs, managing director of Stone Pier Capital, recently circulated a PowerPoint presentation/report from James Knobloch Petroleum Consultants that does an expert job at compiling current data and other valuable information on the status and trends for the oil and gas industry in the Appalachian Basin. Some of the juicy tidbits from the slide deck and accompanying commentary from Charlie: Drilling activity in the Marcellus/Utica *is* slowing down at the moment, but this downturn is different than previous downturns. Also, rumors are swirling about EQT. And, worries about competition coming from the Permian.
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EQT Looks to Sublease HQ Space – Leaving Downtown Pittsburgh?

EQT Corp. is offering to sublease “more space” at its downtown Pittsburgh headquarters building. Back in April, before the change in leadership at the top, EQT offered up to 46,000 square feet of space to lease at its massive 250,000 square foot building known as EQT Plaza, located at 625 Liberty Ave. (see EQT Looking for New HQ Building in Pittsburgh). At the time the company was rumored to be looking for a new, smaller HQ somewhere in downtown Pittsburgh, which we chalked up to a negotiating tactic. The rumor now is that EQT is looking to lease even more than the original 46K sq ft, and possibly leave downtown Pittsburgh.
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2 Important Supreme Court Cases with Big Impact on M-U Pipelines

Two very important (perhaps we should say critically important) cases now sit before the U.S. Supreme Court–cases that have a direct bearing on the Marcellus/Utica region. Both cases deal with pipelines. The first case we’ve written about before: Dominion Energy’s Atlantic Coast Pipeline case to overturn a nutty decision by the U.S. Court of Appeals for the Fourth Circuit that judicially creates a new law that pipelines can’t cross under the Appalachian Trail without (no kidding) an Act of Congress. The other case involves the Hoopa Valley Indian Tribe in California–a case that has profound implications for the Constitution Pipeline from Pennsylvania into New York.
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Utica-Fired Lordstown Energy Center Wins POWER Mag Top Plant Award

Lordstown Energy Center (click for larger version)

For more than four decades, POWER magazine has honored the top performers in the electricity-generating industry with annual power plant awards. Plants that have distinguished themselves by innovative design or engineering upgrades, producing power more reliably or economically than comparable plants, or demonstrating a new generation or environmental controls technology are considered. The Utica-fired Lordstown Energy Center, which went online last October, has just received POWER magazine’s prestigious “Top Plant” award in 2019.
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NYSE Suspends Superior Energy Stock Trading; OTC for Now

Superior Energy Services serves the drilling, completion and production-related needs of oil and gas companies worldwide through a number of subsidiaries including Wild Well Control, International Snubbing Services, and SPN Well Services. The New York Stock Exchange (NYSE) warned Superior in August that its share price had fallen below $1/share for more than 30 consecutive days and was in danger of delisting. Superior said at the time they have a plan to boost the per-share price. However, NYSE delisted their stock as of last Friday (six weeks later) and the stock now trades over-the-counter.
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New Group Forms to Fight Back Against Radical Fossil Fuel Haters

It’s time for the oil and gas industry (i.e. fossil fuels) to begin fighting for our right to exist. Irrational fossil fuel haters like Bernie Sanders and Elizabeth Warren utter the most outrageous lies and pledge to ban fracking nationwide. It’s now time to go on offense–to respond and set the record straight. It’s time to tell the truth about fossil fuels and the vital role they play now, and will play for years to come. A newly-formed group called The Empowerment Alliance (TEA) is doing just that.
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Shale Energy Stories of Interest: Tue, Oct 1, 2019

OTHER U.S. REGIONS: $8.5 billion natural gas liquefaction facility coming to Plaquemines Parish; NATIONAL: What to do about Chesapeake Energy’s wild two weeks; Ethane prices may rise with steam-cracker demand, but not much; INTERNATIONAL: Trump seeks partners not “permanent enemies” ahead of U.S.-China talks; Qatar Petroleum eyes new long-term LNG deals as expansion progresses.
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