Next Phase of Mariner East System Starting Up This Year

Energy Transfer (ET), builder of the Rover pipeline project and the Mariner East pipelines here in the M-U region (as well as many other projects across the country), issued its third-quarter update yesterday. The company lost $782 million in 3Q20 versus making a profit of $857 million in 3Q19. Some (most) of the loss was a paper loss. As part of the update, we learned that the “next phase” of the Mariner East project will be placed into service by the end of this year.
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Marcellus/Utica Helps Lift MPLX/MarkWest Profits in 3Q

MPLX assets (click for larger version)

Back in 2015, MarkWest Energy, one of the premier midstream companies in the Utica that built and operated numerous gas processing plants and pipeline systems, sold itself to Marathon Petroleum (see MarkWest Energy Investors/Unitholders Approve Merger with Marathon). The pipeline subsidiary of Marathon that includes MarkWest is called MPLX. On Monday MPLX released its third-quarter 2020 update showing the Marcellus/Utica region continues to lift the company economically.
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Sierra Club Files Another Lawsuit to Block MVP’s FWS Permit

The Sierra Club, backed with money from Russia (see Anti-American Sierra Club, NRDC Get Funding from Russia), has filed yet another lawsuit attempting to block construction of the final 8% of Mountain Valley Pipeline (MVP) by asking the courts to overturn the latest permit issued by the U.S. Fish and Wildlife Service (FWS).
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Summit Midstream 1-for-15 Reverse Stock Split Avoids NYSE Delisting

click for larger version

Summit Midstream Partners, formed in 2009 and headquartered in The Woodlands, Texas, operates natural gas, crude oil, and produced water gathering (pipeline) systems in six unconventional resource basins, including the Marcellus and Utica. The company concentrates its time and money on four “core focus areas” including the Utica, the Williston (i.e. Bakken), the DJ Basin, and the Permian. Last week the company’s board of directors approved a reserve stock split, trading (consolidating) 1 share for 15, beginning next Tuesday.
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EPA Asks DOJ to Investigate Green Groups $$ from Russia, China

Here’s something we didn’t know (to further depress us): It’s not against the law for American-based nonprofits to accept big contributions from foreign entities. It should be against the law, but it’s not. We previously told you that the Sierra Club and National Resources Defense Council (NRDC) are funded, in part, by Russia (see Anti-American Sierra Club, NRDC Get Funding from Russia). EPA Administrator Andrew Wheeler recently asked the U.S. Dept. of Justice to investigate whether or not groups including the Sierra Club are in fact funded by Russia (and China), and if so, determine whether they should register as foreign agents.
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