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Bankrupt EdgeMarc Sells Ohio Utica Assets to Diversified for $50M
EdgeMarc Energy, headquartered in Canonsburg, PA (with 50,000 acres of Marcellus/Utica leases), filed for Chapter 11 bankruptcy in May, looking to sell all of the company’s assets (see EdgeMarc Energy Files for Bankruptcy, Blames Revolution Pipe). Diversified Gas & Oil placed a bid on EdgeMarc’s Ohio Utica assets, offering $50 million. Nobody else bid, so the bankruptcy court has just approved the sale to Diversified. How many Utica wells and how much acreage? We tell you below.
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Andrew Cuomo, so-called governor of New York State (more like a ruling mob boss), is feeling the heat from HIS decision to block the Northeast Supply Enhancement (NESE) pipeline from getting built to provide more gas to the New York City region. Because of HIS decision, National Grid, one of two natural gas utility companies for NYC and Long Island, has slapped a moratorium on all new customers of any kind from being added to the gas delivery system. If they add new customers, they run the risk of running out of gas during peak usage times in the winter. Cuomo is now threatening to replace National Grid as the utility supplier, displaying true mob boss-like behavior.
Last week the Pennsylvania Dept. of Environmental Protection (DEP) revoked the right of the Beaver County Conservation District (BCCD) to issue and monitor permits for erosion and sediment control, two permits used in building both pipelines and drill pads (see 
Pennsylvania antis from the Philadelphia area who don’t want pipelines running through their neighborhoods (NIMBY types) beat the drums of war so loud and for so long, they finally began to intimidate the non-partisan, shouldn’t-be-intimated PA Public Utility Commission (PUC). In June the PUC launched a “major review of its safety regulations for hazardous liquids pipelines” in response to pressure from Mariner East 2 pipeline foes (see 
We’ve mentioned this in passing in a few articles in the past, but thought it might be good dedicate an entire post to it. What happens, currently, with the prodigious amounts of ethane produced in the Marcellus/Utica? Ethane, as you may know, is one of the natural gas liquids (NGL) hydrocarbons that comes out of the ground along with methane. Methane is CH4, ethane is C2H6. Next to methane, ethane is the most produced hydrocarbon in the M-U. How much gets produced, and what happens to all that ethane?
MDN is not a blog/news site about the myth of man-made global warming, but we do address the topic from time to time because the false belief of man-caused warming is at the root of opposition to fossil fuels and shale energy. We’re accused of being Luddites. Not with the times. Out of touch. Climate deniers. We say we’re simply seeing the issue clearly. A recent article brings into focus for everyone how the masses have been lied to by media and leftist scientists. There is no global warming happening–at least not because of mankind–since 2005. We have incontrovertible proof…
MARCELLUS/UTICA REGION: Eight permits issued for Utica/Point Pleasant shale; Tesla solar debacle is explained by Vanity Fair and Walmart; OTHER U.S. REGIONS: The Fox Energy Center operates a power plant; Natural gas soon to be outlawed in almost all new Menlo Park buildings; NATIONAL: EIA updates its U.S. energy consumption by source and sector chart; Don’t be so quick to write off natural gas; Natural gas prices poised for dramatic price increase; U.S. natural gas is the new, global, soft-power weapon; E&P stocks plunge to all-time lows despite solid second-quarter profitability; Michael Mann, creator of the infamous global warming ‘hockey stick,’ loses lawsuit against climate skeptic; INTERNATIONAL: Canada’s new oil, natural gas development regulation takes effect; PGNiG agrees sale of U.S. LNG cargo to Ukraine; New market for LNG as Germany moves to add import terminals; Australia, U.S. LNG exports turn up the volume on global market leader Qatar.