Ryan Energy Services, headquartered in Bridgeport, WV (with 130 employees), works throughout the Marcellus/Utica providing environmental consulting, remediation, cleaning services, emergency spill response, hydrocarbon lab services, corrosion services, well services, general roustabout, and both steel and poly pipeline construction. A full suite of services and solutions!
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Day: October 9, 2020
Law Firm Withdraws Class Action Against Cabot re Securities Fraud
The New York City law firm that found one Cabot Oil & Gas investor to become the lead plaintiff in what they hoped would become a class action lawsuit against Cabot for securities fraud has dropped the lawsuit. Apparently the law firm couldn’t find enough other investors to sign on.
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Energy Transfer Founder Kelcy Warren Stepping Down as CEO
Kelcy Warren founded and has been the CEO of midstream company Energy Transfer (ET) in 1996 with approximately 200 miles of natural gas pipelines and 20 employees. Today the company is one of the largest pipeline companies in the world. Yesterday the company announced Warren will step down as CEO on Dec. 31.
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Rig Count Slides Backward by 3, Marcellus Lost 2 Rigs Last Week
After a couple of weeks of double-digit gains in the Enverus national rig count, last week the count slipped backward by 3 (for the week ending Oct. 7). The Marcellus lost two rigs last week. The Haynesville, a gassy shale play in Lousiana and competitor to the Marcellus/Utica, picked up 2 rigs.
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Big Green Spending $2M+ to Try and Flip PA Legislature Democrat
Big Green groups in Pennsylvania, funded by shadowy billionaires and in some cases, foreign money (see Anti-American Sierra Club, NRDC Get Funding from Russia), are spending over $2 million in an effort to influence (purchase) enough PA House and Senate races to flip one or both chambers from Republican to Democrat control.
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FERC Gives Glenfarne an Extra 5 Years to Build Magnolia LNG
In September, the new owner of Magnolia LNG, investment firm Glenfarne Group, along with Kinder Morgan (which plans to build a pipeline to the Magnolia facility), asked the Federal Energy Regulatory Commission (FERC) to extend the time to build the project (see Glenfarne Asks FERC for Extra 5 Years to Build Magnolia LNG). On Wednesday FERC granted its blessing.
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Other Stories of Interest: Fri, Oct 9, 2020
MARCELLUS/UTICA REGION: Upcoming deadline for renewal of Ohio land professional registrations; Banks reaffirm Southwestern Energy’s line of credit for $1.8 billion; OTHER U.S. REGIONS: LNG exports resume from Sabine Pass and Cameron terminals as another hurricane approaches; NATIONAL: On fracking, Senator Harris wants to have it both ways; Chevron doubles down on renewable natural gas; U.S. crude output to fall less in 2020 than previously forecast; INTERNATIONAL: Royal Dutch Shell energy transition woes; When natural gas prices rise, Russia’s Nord Stream 2 will get a second wind.
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