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American Energy Partners Buys 467 PA/WV Conv. Wells for $10.8M
American Energy Partners, Inc. (AEPT), based in Allentown, PA, is a small but diversified company. They have their fingers in a number of different oil and gas pies, including subsidies in drilling, remediation, water, valuation services, and education. AEPT announced a new deal today to purchase three conventional oil and gas operators with assets in Western Pennsylvania and West Virginia for $10.8 million. The three operators (unnamed) come with a collective 467 conventional wells and 1,250 MMcfe/d of natural gas production.
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Cue the music and begin singing: Happy Birthday to You! Energy Transfer (ET), the midstream (pipeline) giant headquartered in Dallas, Texas, is celebrating its 25th year in business. The company began as a small intrastate pipeline company with 200 miles of natural gas pipes in east Texas and 20 employees. Today it owns more than 90,000 miles of pipelines crossing 38 states and Canada with nearly 10,000 employees. All in just 25 years. Hats off to co-founders Kelcy Warren and Ray Davis. ET owns a number of important pipelines in the Marcellus/Utica region.
Utility giant Duke Energy Corp. is in the process of modifying eight of its biggest coal-fired electric generating plants in North Carolina to burn natural gas instead. The work will cost Duke roughly $283 million. Work is already complete on six of the eight plants, with the final two slated to be done later this year. There is a tie-in with the Marcellus/Utica.
We spotted an article in the Philadelphia Inquirer about South Jersey Industries (owner of South Jersey Gas and Elizabethtown Gas utilities) announcing a commitment to eliminate all so-called greenhouse gas emissions from its own operations by 2040. This is what is often called net-zero carbon. Even with this major effort by SJI, the nutty Sierra Club refuses to give the company an attaboy. Instead, the Clubbers say the company should just close down all of its natural gas utility operations and…what?…let everyone freeze to death in the winter?
Terms are often thrown around that remain somewhat amorphous and undefined in our minds. Especially in a complex industry like oil and gas. What do certain terms really mean? Today we define what a “clean frac”–otherwise known as a “green completion”–actually means, and why it’s so appealing to pimple-faced, woke millennials who place a premium on ESG (environmental, social, and governance) investing.
The American Energy Alliance (AEA) is raising the alarm of a conspiracy by Democrat Attorneys General from deep blue states colluding with Big Green groups to bypass Congress with a new round of sue-and-settle lawsuits. It is the equivalent of an overthrow of the legislative branch of the federal government. Here’s how the conspiracy works…
OTHER U.S. REGIONS: NextDecade and Project Canary launch GHG measurement and certification framework for LNG; Gas ‘peaker’ plant would make way for more renewables, Massachusetts utilities say; Exxon pitches $100B carbon storage project using public, private financing; NATIONAL: Six subsectors account for nearly 90% of manufacturing energy consumption; Manchin backs labor-organizing bill while standing against carbon tax and fossil fuel bans; INTERNATIONAL: John Kerry’s climate kowtow to China.