On Monday we told you about a letter written by investment firm D.E. Shaw, one of EQT’s largest shareholders (owns 4.5% of outstanding shares), to the EQT board (see WSJ Says EQT is “Failing”, DE Shaw Says EQT Mgmt “Not Up to Task”). At the time we hadn’t see a full copy of the letter–but we have now (copy below). The letter minces no words.
Read More “Scalding Letter to EQT by Big Investor: Replace Top Mgmt Now”
The NYSE (New York Stock Exchange) has sent a notice to Eclipse Resources telling the company that the average 30-day price of the company’s stock has fallen below $1 per share–and unless they get the price boosted, the exchange will delist the stock.
Read More “NYSE Threatens Eclipse Resources with Stock Delisting”
This news is a bit dated, but still interesting and is new for us: Last October a group of landowners in Tioga County, NY filed a lawsuit to force the NY Dept. of Environmental Conservation (DEC) to quit dragging its feet and set a date to consider the groups application to allow LPG (liquefied petroleum gas, i.e. propane) fracking for a shale well.
Read More “Landowner Group Sues NY State to Allow Propane Fracking”
Three years ago lawsuits filed by some 200 West Virginia residents against Antero Resources were combined into a class action lawsuit (see More People Pile on Antero, Seek to Join Mass “Nuisance” Lawsuit). The lawsuits are called “nuisance” lawsuits because, according to the plantiffs, Antero is a nuisance to them–truck traffic, noise, lights at night, etc.
Read More “Antero “Nuisance” Lawsuit Heard by WV Supreme Court Temp Judges”
There are companies that will purchase landowners’ (rights owners) royalty payments–giving them a lump sum payment up front in return for signing over all future royalty payments to the company buying the rights. Peregrine Energy Partners is one such company and has just purchased an unspecified amount of royalty payments in Greene County, PA.
Read More “Peregrine Energy Buys Royalty Rights in Greene County, PA”
Invenergy blasted out a press release yesterday to announce that their 1,480 megawatt, $1 billion Marcellus gas-fired electric plant, called the Lackawanna Energy Center (located near Scranton, PA) is now fully, 100%, online.
Read More “PA’s Largest NatGas-Fired Electric Plant Officially Online”
Braskem USA, headquartered in Philadelphia had a decision to make in 2016: Locate a new polypropylene plant in their own backyard, at the Marcus Hook refinery site on the outskirts of Philly–or locate it in Texas. They picked Texas because not enough NGLs (propane) were flowing to Marcus Hook due to delays (caused by Big Green lawsuits) in the Mariner East 2 pipeline.
Read More “Delayed ME2 Pipeline Cost PA a $675M Plastics Plant + 1K Lost Jobs”
MARCELLUS/UTICA REGION: Supreme Court may consider challenge to MVP, Natural Gas Act; Gov. Tom Wolf comes out as Pennsylvania’s ‘Encourager-in-Chief’ in inaugural address; OTHER U.S. REGIONS: U.S. ethane company with Russian ties set to break into Chinese market from Texas; NATIONAL: EIA’s 2019 Henry Hub price forecast slips to $2.89; little relief seen in 2020; U.S. natgas output, demand seen rising to record highs in 2019; Williams Companies targets LNG upside via Transco expansions; Ex-Halliburton chairman Dave Lesar to start new oil-services company; INTERNATIONAL: Reports of OPEC’s demise have been greatly exaggerated; Yellow Vest protests in France, Canada.
Read More “Energy Stories of Interest: Wed, Jan 16, 2019”