Gulfport Fires 13% of Workers, Ends Stock Buy-Back, Board Changes

Gulfport Energy, one of the biggest drillers in the Ohio Utica Shale (210,000 acres), concentrates its drilling in the Ohio Utica and the Oklahoma SCOOP plays. A few weeks ago the company announced they are shopping some of their non-operated assets in the Ohio Utica (see Gulfport 3Q – Looking to Sell Non-Operated Utica Assets). This morning the company made another major announcement: They are laying off 13% of the workforce, ending (for now) their stock share buy-back program, and “refreshing” the board with three new members.
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PA One of Two Finalists for “Massive” Ethane Storage Hub

The Appalachia Development Group (ADG) is leading an effort to build a ~$3.3 billion NGL storage hub in Appalachia. From the start, the thinking has been the storage hub would be located somewhere in West Virginia (see WV’s US Senators Lead the Charge to Build $10B NGL Storage Hub). But what’s this? ADG Chairman and CEO Steven Hedrick, speaking at a conference last week, confirmed potential sites for the project have been narrowed down to two. And one of those sites, according to “sources” (not Hedrick), is located in southwestern Pennsylvania.
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More M-U Gas to Missouri? MoGas Floats Plan to Expand Pipeline

Some Marcellus/Utica gas flows all the way to the Midwest, to markets that include Chicago and St. Louis. Last week we reported that the Spire STL Pipeline is ready to begin service, connecting to the Rockies Express (REX) pipeline to flow M-U gas to the St. Louis area (see Spire Pipeline Ready to Flow Marcellus/Utica Gas to St. Louis). A second company is now floating a plan to flow some of our molecules to customers in Illinois and Missouri.
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Anti Group Loses Yet Another Penn Twp (PA) Frack Ban Case

A leftist anti-fossil group calling itself Protect PT, in Penn Township (Westmoreland County), PA, backed with big money from Big Green groups, continues to sue in an effort to block shale drilling in the township. And they keep losing their lawsuits. Protect PT has launched multiple challenges to a local Penn Township ordinance which allows Apex Energy and Huntley & Huntley to drill and operate wells.
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Ohio’s Non-Drilling Counties Look to Profit from Utica Shale Too

Drilling is great for local counties when it arrives. Especially for the “supply chain” in those counties–companies that sell goods and services to drilling companies. Everything from retail to convenience stores to restaurants to hotels to trucking companies and more. But what about businesses in nearby counties without any drilling activity? Is there any way they can share in the bounty too? There sure is!
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Cove Point LNG in Maryland Loads Milestone 100th Commercial Ship

Dominion Energy’s Cove Point LNG Terminal loaded its 100th commercial liquefied natural gas (LNG) ship this week. (Photo courtesy of Matthew Rakola, click for larger version)

Seems like just yesterday that Dominion Energy’s Cove Point LNG export plant opened for business–in April 2018 (see First-Ever Shipment of Marcellus LNG Leaves Cove Point, Maryland). Fast forward a year and a half later and on Monday, November 11, Dominion loaded its 100th commercial LNG ship. Let’s celebrate!
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PA’s Auditor General Presumes to Lecture State on Global Warming

Does anyone else grow weary of pompous Democrat windbags in high elected office in Pennsylvania posturing and preening to be the next gubernatorial candidate? PA’s leftist Attorney General Josh Shapiro is certainly one of them (see PA AG Continues Marcellus Witch Hunt, Impanels Grand Jury). We now have a second–the state’s Auditor General, Eugene DePasquale.
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Shale Energy Stories of Interest: Mon, Nov 18, 2019

MARCELLUS/UTICA REGION: ODNR grants 6 permits for Utica drilling; FERC sets review schedule for extension to Transco’s Atlantic Sunrise; Cuomo’s carbon casualties; PA Governor’s office transfers $45 million to augment DEP, DCNR budgets; Shale academy obtains grant; Preston High School seniors take part in free oil and natural gas course; Cabot Oil & Gas completes divestiture of ownership in Meade Pipeline Co; Shell VP shrugs off mayor’s anti-petrochemical industry comments; OTHER U.S. REGIONS: Is Chesapeake about to sell its Haynesville assets to Comstock?; Vermont Gas launches climate-friendly rebranding effort; NATIONAL: Permian, Marcellus rigs fall as U.S. drilling declines continue apace; U.S. frack sand suppliers latest casualties in shale industry slump; Natural gas corrects – let the wild ride begin; INTERNATIONAL: PGNiG informs Gazprom of natural gas supply deal termination; EU to end all fossil fuel lending in two years.
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