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Fire Sale: Shell Sells All Remaining PA M-U Assets for $541M
A major announcement yesterday from both Shell and National Fuel Gas Company (NFG) says Shell has cut a deal to sell all of its remaining Appalachian assets, which includes 450,000 acres and some 350 producing M-U shale wells along with pipeline assets, to NFG for $541 million. The deal is expected to close by the end of July.
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It pains us to report this, but there has been another explosion of Enbridge’s Texas Eastern Pipeline Company (TETCO) pipeline in Kentucky. Last August one of the TETCO lines exploded in Lincoln County, Kentucky, killing one and sending six to the hospital (see 
We won’t lie, this news turns us red hot with anger. The sleazy Pennsylvania Attorney General, Democrat Josh Shapiro (who wants to ingratiate himself with wacko leftists because he’s running for governor) has just forced Inflection Energy to pay $40,000 to three Big Green groups as penance for an accident that allowed frack wastewater to escape into an unnamed creek. Inflection had to cop to committing a crime and pay money to groups seeking to destroy the company. THIS IS OUTRAGEOUS!
If an upstream (drilling) company with a long-term pipeline contract files for bankruptcy, does that give the company the right to break their pipeline contract? A major shipper on the Rockies Express (REX) pipeline, Ultra Resources, is expected to file for bankruptcy very soon. REX is concerned Ultra may claim its bankruptcy is a “get-out-of-the-contract free” card. REX has asked FERC to preemptively “assert its jurisdiction” as the arbiter of whether or not companies like Ultra can skip out of contracts.
Oilandgaspeople.com was established 10 years ago to connect job seekers with companies looking to employ them, throughout the oil and gas industry. Oilandgaspeople.com has been merged into a new site called 
Josh Fox, the propagandist who made the Gasland fictional documentary bashing natural gas (see 
MARCELLUS/UTICA REGION: William Penn Foundation continues to buy off the DRBC; Natural gas drilling centered in Appalachian Basin, Haynesville; OTHER U.S. REGIONS: Frontier launches natural gas project; NATIONAL: U.S. nat gas lifts to 15-week high on more demand, less production.