EQT Announces Late Annual Meeting, a “Screw You” to Rice Bros.
EQT is not holding their annual meeting in April this year, the month they’ve traditionally held the annual meeting until last year, when it was held in June due to an impending split of the company into upstream and midstream. Instead, the current board is using a legal loophole to delay this year’s annual meeting to July–as a way of obstructing the efforts of Toby and Derek Rice and their proxy war to take over the company.
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Chesapeake Energy, started by Aubrey McClendon as a gas-focused drilling company that went on to become the country’s largest natgas producer, is doing its darnedest to get rid of its natgas assets and turn itself into an oil driller. Yet it was the company’s natural gas assets that boosted the company’s financial performance in 4Q18, helping them turn in a better financial performance than analysts expected. Ironic, no?
Energy Transfer and their Sunoco Logistics Partners unit are about to restart underground horizontal directional drilling (HDD) work for the Mariner East 2 (ME2) pipeline in West Whiteland Township (Chester County), PA–work that has been on pause since July 2017. Yet ME2 actually went online in December (see 
Anti fossil fuel freaks have scored a victory in reducing the amount of electricity available to New Jersey’s southern shore area (rolling blackouts anyone?). There was a plan to convert a now-closed coal-fired electric generating plant to use natural gas, fed to it by a new (very short) pipeline.
The West Virginia Surface Owners Rights Organization (SORO) says WV has a serious problem. Drillers are not plugging old/non-producing wells (most of them conventional). In fact, SORO says there are some 4,500 wells that have been unplugged for so long, they are considered “orphaned”–the original driller is long gone, out of business, and there’s nobody around to do the plugging. Something’s got to change.
MARCELLUS/UTICA REGION: McDonnell says natural gas helped Pennsylvania reach clean power plan goals; Two Va. bills aimed at screwing pipeline companies fail; OTHER U.S. REGIONS: Cheniere eyeing sixth Sabine Pass LNG train, potential Corpus expansion; Tellurian says it is well-positioned to meet current timeline for Driftwood LNG project; Cheniere Energy sues former CEO Charif Souki over $46 million loan; Communities feeling pipeline pressure; NATIONAL: Sen. Whitehouse sought to advance climate lawsuit brought by his donors; Dozens of climate protesters storm McConnell’s office over Green New Deal; Green New Deal polling (video); INTERNATIONAL: Coalition sees LNG forming pathway to IMO 2050; Germany set to draw more Russian gas, regardless of what Trump says; Saudi Arabia has oil. Now it wants U.S. natural gas.