Buffalo Bills Owner Terry Pegula on the Hunt to Buy NatGas Assets

Terry Pegula is a billionaire who owns both the Buffalo Sabres (NHL hockey team) and the Buffalo Bills (NFL football team). Pegula is the owner of East Resources, once a big driller (and holder of acreage) in the Marcellus Shale. Pegula sold off East’s Marcellus assets and used the money, in part, to buy the Buffalo Bills in 2014, which gave rise to MDN calling the team “the Marcellus Bills”–since it was Marcellus money that kept the team in Buffalo, instead of moving to another market (see Buffalo Bills Stay in Buffalo, Thanks to $1.4B of Marcellus Money). Yes, “dirty” fracking money saved the Bills! Pegula is once again in the hunt to purchase oil and gas assets. Hey, it’s a buyer’s market right now and Pegula didn’t become a billionaire by being dumb…
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Another Outrage: PA AG Charges NFG with Crimes for Pipe Accident

This absolutely must stop. Pennsylvania Attorney General Josh Shapiro is completely out of control and abusing his power as AG. He has charged a third Marcellus/Utica company, National Fuel Gas Company, with crimes because of a few minor cases of erosion runoff during the installation of a pipeline in Washington County, PA. Since when is erosion a CRIME?
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Effort to Repeal Ohio $1B Nuke Bailout Law Shifts into High Gear

“Be sure your sin will find you out” (Numbers 32:23). That phrase needs to be tattooed on the side of FirstEnergy’s headquarters because their sin of (allegedly) bribing Ohio lawmakers to pass a highly unpopular bailout of the company’s economically failing nuclear power plants has certainly found them out (see FirstEnergy Involved in Bribery Scheme to Pass $1B Nuke Bailout Law). Lawmakers in the Ohio legislature are now falling all over themselves in an effort to repeal House Bill (HB) 6, a law THEY PASSED just twelve months ago (see Ohio Nuke Bailout Law Means Fewer Natgas-Fired Electric Plant).
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PTT Signs Contract with Mountaineer NGL Storage Hub for OH Cracker

Just yesterday MDN told you about one expert’s view that there won’t be one massive NGL storage hub built in the Marcellus/Utica, but a number of smaller hubs (see Expert Says Massive Appalachian NGL Storage Hub Won’t Get Built). One of the smaller hubs we highlighted is the Mountaineer NGL Storage project. Lo and behold…yesterday PTT Global Chemical, the Thailand-based petrochemical giant seeking to build a giant ethane cracker plant in Belmont County, OH, signed a contract with Mountaineer to use their NGL storage services when/if the mighty cracker gets built.
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Montage Sells Non-Core Utica Pipe Assets to Int’l Buyer for $25M

Montage Resources, the new name for the merger of Eclipse Resources with Blue Ridge Mountain Resources which happened more than a year ago, announced yesterday it is selling its “non-core” wellhead gathering infrastructure (pipelines) in the Ohio Utica condensate development area to an unnamed international buyer for $25 million. The transaction is expected to close by the end of this year.
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NY Officially Closed for Business – New Law Bans PA Drill Cuttings

Each day New York State becomes more like a third world, tinhorn dictatorship. High and Supreme Lord Andrew Cuomo (governor and dictator of NY) has issued edicts to *permanently* ban all fracking in the state. The suckup legislature dutifully obliged (see Cuomo PERMANENTLY Bans NY Fracking in Now-Adopted Budget). Lord Cuomo has also banned all new “fossil fuel” pipeline construction in the state. There has been one very minor way NY still participated in the shale revolution…
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Shale Energy Stories of Interest: Thu, Jul 23, 2020

MARCELLUS/UTICA REGION: Equitrans Midstream announces quarterly dividend; After drilling mishap condemns home, gas pipeline opponents ask to halt all work; OTHER U.S. REGIONS: Tellurian, Petronet renew Driftwood LNG talks; NATIONAL: Natural gas generation nabs growing share of installed U.S. microgrid capacity; Bounceback in U.S. shale oil output is unlikely to last the summer; Oil and gas companies tap DUC inventories to boost production at lower costs; Biden administration risk for energy sector reaches beyond domestic policy; Pipeline shutdown could hurt low-income Americans; Houston banks sell off energy loans, cut credit lines to oil and gas companies.
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