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IHS Markit: No New Interstate Gas Pipelines Coming After MVP

This week is IHS Markit’s CERAWeek conference. Normally it’s a huge event with over 5,000 attendees gathered in Houston, TX. Because of the pandemic, this year’s event is virtual. But still just as relevant and important. During a session yesterday, Matthew Palmer, senior director at IHS Markit, expressed a sentiment and opinion we’ve seen expressed by others, including Williams CEO Alan Armstrong. Palmer said he doesn’t expect any new big interstate gas pipes to get built after Mountain Valley Pipeline (from West Virginia to Virginia) enters service. For the foreseeable future. What a shame.
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PennEast Pipe Files Supreme Court Brief; Timeline for Construction

On Monday PennEast Pipeline filed its opening brief in a case to be heard by the U.S. Supreme Court in April. The case appeals a lower court ruling that disallows PennEast from using eminent domain to build across land owned or controlled by the State of New Jersey. PennEast calls the previous ruling by the 3rd Circuit Court of Appeals “deeply flawed” and “seriously misunderstands both eminent domain and sovereign immunity.” What are PennEast’s chances of winning, and if they do win, when will PennEast get built?
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Two EQT Shareholders Sue Former Board, Executives re Rice Merger

Two EQT Corp. shareholders filed a lawsuit in Allegheny (PA) County Court earlier this week against former top EQT executives and former EQT board members (from 2017) alleging management and the board vastly exaggerated cost reductions and operating efficiencies that would result from a $6.7 billion takeover/merger of Rice Energy. The lawsuit says the former leaders of the company made false statements ahead of the merger, and now should pay.
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Thailand’s Banpu Buying U.S. Gas-Fired Power Plant in 1H21

Banpu is Thailand’s largest coal mining company. But Banpu is far more than just a coal company. It has multiple subsidiaries in various energy industries scattered around the globe. For example, here in the U.S. Banpu partners with Kalnin Ventures and operates BKV Corporation, the American shale drilling arm of Banpu. We spotted an article in today’s Bangkok Post that says Banpu is about to enter the U.S. power generation market by purchasing a gas-fired power plant–this year.
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Marcellus/Utica Drillers Going Whole Hog on ESG Efforts

Although we’ve heard about ESG (environment, social, governance) efforts by shale companies for years, it seems as though Marcellus/Utica drillers have only recently begun to get the ESG religion. In December we told you about an ESG panel discussion at Hart Energy’s DUG East event, normally held in Pittsburgh but virtual this year (see M-U Companies Must “Walk the ESG Walk” to Get Investment Money). And just a few weeks ago we brought you a deep dive into the ESG issue from RBN Energy (see What, Exactly, is ESG and Why are Shale Companies Embracing It?). During the recent spat of 4Q/2020 updates from M-U drillers, we’ve seen a big push on ESG.
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Is Natural Gas Foam the Next Fracking Fluid? Testing Now

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The Southwest Research Institute (SwRI) in San Antonio, Texas has been conducting a research project for the past six years looking for a better way to frack than using millions of gallons of water. They just may have found it. SwRI is now testing a combination of highly pressurized natural gas and water, turning it into a natural gas “foam,” to see how it performs as a fracking fluid. If the foam works, it solves two big problems for shale oil drillers: provides a way to use “unwanted” associated gas, and lack of water. The method pioneered by SwRI uses 80% less water than traditional fracking.
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Other Stories of Interest: Thu, Mar 4, 2021

MARCELLUS/UTICA REGION: West Virginia Gov. Justice to submit tax bill this week; OTHER U.S. REGIONS: Exxon and Macquarie in $11.7 million U.S. lawsuit over gas contract; NATIONAL: Biden decision to kill Keystone XL could spell disaster down the tracks; Granholm wakes up DOE’s loan programs office, appoints Jigar Shah; U.S. climate czar urges oil industry to hasten transition to renewables.
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