ECA Marcellus Trust I Cancels 2Q20 Distribution to Investors

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ECA Marcellus Trust I, traded over-the-counter on the pink sheets, announced on Friday that there will be no distribution (i.e. dividends) paid for the quarter ended June 30, 2020 to shareholders because expenses exceeded net revenues to the Trust for the quarter. This is the second quarter in a row the Trust has not paid investors (see ECA Marcellus Trust I Cancels 1Q20 Distribution to Investors). Who is ECA?
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Chester DA Persecution of Off-Duty Constables Guarding ME2 Pipe

Why is the Chester County, PA District Attorney hell-bent on persecuting (i.e. prosecuting) security guards who have done nothing more than protect nutty environmentalists from hurting themselves at Mariner East 2 pipeline construction sites? Former Chester County, PA District Attorney Tom Hogan (RINO), and his successor Deb Ryan (Democrat) were 100% humiliated after a Chester County Magisterial District Judge in June dismissed the entire case against the local head of security for Energy Transfer in what the DA’s office lyingly calls a “buy a badge scheme” (see Chester DA Charges Against ME Pipe Security Chief Tossed by Judge). Yet the DA’s office is back harassing/charging the owner and an employee of a private security firm for the same thing.
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Nuverra 2Q20: COVID & Low O&G Prices “Likely” Thru Rest of Year

Nuverra Environmental Solutions (formerly Heckmann) is one of the largest companies in the United States that handles transportation and disposal of shale drilling wastewater and leftover rock and dirt from drilling. The company has major operations in the Marcellus/Utica region. In April the company laid off roughly 100 employees (see Nuverra Environmental Cuts Budget 30%, Lays off 100 People). Last week the company released second-quarter 2020 results. Like 1Q20, the company’s revenues were down and losses were up.
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Epsilon Energy 2Q: $1.3M in Free Cash Flow, Revenue Down a Tad

Epsilon Energy concentrates most of its effort on the Marcellus in Susquehanna County, PA. Epsilon doesn’t actually do any of its own drilling. The company partners with (gives money to) other companies, like Chesapeake Energy, and the other company does the actual drilling. Epsilon, according to its website, owns ~4,000 net acres in the PA Marcellus. They also own assets in Oklahoma’s Anadarko Basin. Last week the company issued its second-quarter 2020 update.
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Upper Uwchlan Twp Begs Gov. Wolf to Pull ME2 Pipe Permits

Last week Energy Transfer’s Mariner East 2X pipeline experienced an “inadvertent return”–nontoxic drilling mud coming up out of the ground where it’s not supposed to–in Chester County, PA (see Mariner East 2X Construction Causes Another Drilling Mud Spill). The Pennsylvania Dept. of Environmental Protection (DEP) immediately suspended all drilling at the site until further notice (see PA DEP Suspends ME2 Pipe Drilling at Marsh Creek State Park). The Upper Uwchlan Township Board of Supervisors sent a letter to Gov. Tom Wolf last week requesting he simply pull all of the remaining permits for the ME2 project, effectively shutting it down and preventing it from finishing–even though it’s nearly done.
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Eagle LNG Celebrates 100th LNG Bunkering at Port of Jacksonville

In July 2018 Eagle LNG officially opened its Maxville, Florida (suburb of Jacksonville) liquefaction facility to first liquefy then transport LNG to Crowley’s new LNG bunkering facility at the Port of Jacksonville (Jaxport) where the LNG is used to fuel two Crowley LNG-powered ships designed to carry both containerized and roll-on/roll-off cargo (see Marc/Utica Gas Trucked to Jacksonville, FL for Use in LNG Ship). It’s now two years later nad Eagle and Crowley recently celebrated the 100th “bunkering” event. And yes, there is a connection to the Marcellus/Utica.
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Shale Energy Stories of Interest: Mon, Aug 17, 2020

OTHER U.S. REGIONS: Private donors are funding Polis administration staff positions in controversial “quid pro quo” scheme; Haynesville Shale overtakes Eagle Ford Shale; Why California’s climate policies are causing electricity blackouts; NATIONAL: Market observers look beyond fundamentals in natural gas futures’ 17-cent surge; The selection of Kamala Harris cements Joe Biden’s fracking ban credentials; Senators introduce legislation to defend property owner’s rights; How will U.S. LNG producers navigate global market uncertainty?
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