We have sad news to report. Yesterday a 50-year-old man was unloading a large excavator off a trailer at natural gas well pad in Lycoming County, PA when the tailgate/ramp he was trying to lower knocked him to the ground and landed on his chest resulting in “traumatic asphyxiation.” We don’t have a lot of details, but we do have some…
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Last December MDN told you about a second natural gas-fired power plant planned for Charles City County, Va. (near Richmond) being developed by C4GT (see 2nd Gas-Fired Power Plant, Pipe Coming to Charles City County, VA). It appears the project is in trouble, which means a 24-mile pipeline to feed it is also in trouble. It is because of the pipeline and a regulatory filing that we know about the gas-fired plant’s troubles.
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On Monday we brought you the news that Gulfport Energy, the third-largest driller in the Ohio Utica Shale, had filed for bankruptcy over the weekend (see Gulfport Energy Files for Pre-arranged Chapter 11 Bankruptcy). The company issued an update yesterday to say federal bankruptcy court has approved its “first day” motions that allow Gulfport to borrow more money, pay certain people, etc.
We have an update (11/19/20) below.
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The Pennsylvania Senate previously passed and yesterday “concurred” (signed-off on) Senate Bill 790, sending it to Gov. Tom Wolf for his signature. SB 790 restores sanity to regulations for conventional oil and gas drillers in the Keystone State. Unfortunately, Gov. Wolf has stubbornly said he will veto this common sense bill. Why are we not surprised?
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Yesterday Rising Phoenix Royalties (RPR) announced it has purchased the future royalty payments from a landowner in the Utica Shale, in Monroe County, OH. This acquisition is RPR’s third Marcellus/Utica transaction this year.
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An interesting week for permits. Last week Pennsylvania issued just 2 new shale well drilling permits after having issued 3 the week before (lowest numbers we’ve seen). Ohio, which has not issued many permits in recent months, was on fire last week with 17 new shale permits! West Virginia issued just 1 new shale well permit.
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OTHER U.S. REGIONS: Gulf Power to retire its last coal units in Florida; NATIONAL: EIA expects U.S. crude oil production to remain relatively flat through 2021; Are we on the verge of a new bull market in natural gas?; The ‘war on coal’ is over…the next climate battle has just begun; How much damage to America can Biden do with his energy plan?; Joe Biden’s net-zero isn’t normal; Climate targets could slash natural gas investment by $1 trillion; Danly to cancel FERC press briefings; INTERNATIONAL: Covid-19 caused the loss of over 28,000 oil & gas jobs in Australia.
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