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  • Accidents | Guernsey County | Industrywide Issues | Ohio | Wastewater

    Minor Pipeline Leak at Cambridge, OH Injection Well

    July 6, 2021July 6, 2021

    On June 24, the operator of the SOS D-2 injection well in Cambridge, Ohio (Guernsey County) reported a small release from a pipeline that transfers fluid from a storage tank to the injection well. The well’s owner/operator, Silcor Oilfield Services Inc., contained the leak. The Ohio Dept. of Natural Resources (ODNR) was alerted and is overseeing remediation of the affected area and repair of the line. End of story. Except…
    Read More “Minor Pipeline Leak at Cambridge, OH Injection Well”

  • Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | M&A

    Cimarex CEO Reworks $32M Stock Deal – Cabot Merger Still On

    July 6, 2021July 6, 2021
    Thomas Jorden

    In May MDN told you about one of the oddest combinations in recent memory–the merger of Permian driller Cimarex Energy with Marcellus driller Cabot Oil & Gas (see HUGE NEWS: Permian Driller Cimarex Buying Out Cabot Oil & Gas). Given the negative reaction by stock analysts and investors, we had hoped maybe the deal would fall apart. Given the recent development that Cimarex CEO Thomas Jorden is potentially turning down $32 million in payouts from the deal (he’s staying on as CEO of the combined company), it sure seems like this deal is likely to happen.
    Read More “Cimarex CEO Reworks $32M Stock Deal – Cabot Merger Still On”

  • Energy Companies | EQT Corp | ESG | Hydrogen | Industrywide Issues

    EQT Launches $75M Fund to Investigate Hydrogen, CO2 Storage

    July 6, 2021July 6, 2021

    Last week MDN told you that EQT Corporation, the largest natural gas driller in the U.S., had released its 2020 ESG report and announced the company would be “net carbon zero” by 2025 or sooner (see EQT Issues 2020 ESG Report, Claims Net Zero by 2025 “or Sooner”). In a follow-up conference call with analysts, EQT CEO Toby Rice announced he believes EQT could become THE lowest-cost producer of hydrogen in the U.S.–using EQT’s fracked natural gas, of course. In addition, when shale wells run dry, Rice plans to pump carbon dioxide down into the empty wells, something called carbon sequestration.
    Read More “EQT Launches $75M Fund to Investigate Hydrogen, CO2 Storage”

  • Commodity Price | Crude Oil | Industrywide Issues

    Oil Price Hits 6-Year High – OPEC+ in Crisis with No Agreement

    July 6, 2021July 6, 2021

    The tinpot dictators who run the Organization of the Petroleum Exporting Countries plus Russia (OPEC+) can’t agree on increasing overall production levels of oil. What a surprise. Meanwhile, America’s own shale frackers refuse to increase their own drilling to meet the increase in world demand, having been cowed by woke leftists into “behaving” themselves. And so the world’s oil production (not supplies, but actual production) continues to decline at a time when more oil is needed. Lack of supply is driving the price of oil higher.
    Read More “Oil Price Hits 6-Year High – OPEC+ in Crisis with No Agreement”

  • CNG/LNG | Exporting | Industrywide Issues

    Goldboro LNG FID Deadline Passes, Pieridae CFO Resigns

    July 6, 2021July 6, 2021

    Pieridae Energy’s Goldboro LNG project, located in Nova Scotia (with the potential to export Marcellus/Utica molecules) has been on our radar for years. Nine years to be exact. In the middle of May, the company said a final investment decision (FID) would happen no later than June 30 (see Goldboro LNG Predicts FID Coming by June 30 – Some 9 Yrs Later). We now have the answer of sorts. The project will not go forward as planned. Instead, Pieridae says it’s going to rework the project to be “more compatible with the current environment.” Whatever that means.
    Read More “Goldboro LNG FID Deadline Passes, Pieridae CFO Resigns”

  • Industrywide Issues | Research

    EEIA 2021 Energy Logistics and Distribution Report

    July 6, 2021July 6, 2021

    The Energy Equipment and Infrastructure Alliance (EEIA), a trade association representing the companies and people that provide contractor services, equipment, materials, and labor to shale oil and gas exploration and production, infrastructure, transportation and processing, has just published its Spring/Summer 2021 Energy Logistics & Distribution Report (full copy below). The report features more than 75 individual charts and graphs tracking price and volume metrics for energy including crude oil, natural gas, NGLs, drilling activities, renewables, consumption, logistics, and financial data. It is the single best source of charts and graphs to understand what’s happening in the energy markets.
    Read More “EEIA 2021 Energy Logistics and Distribution Report”

  • Best of the Rest

    Other Stories of Interest: Tue, Jul 6, 2021

    July 6, 2021July 6, 2021

    OTHER U.S. REGIONS: Permian oil patch faces economic conundrum as efficiencies reduce workforce; NATIONAL: Rigs added in Permian, Marcellus as U.S. drilling count continues uptrend; President Biden’s climate plan is more revolution than transition; Will crude oil hit $100 a barrel?; As U.S. temperatures spike, so does the need for natural gas; ExxonMobil employs lobbyists? Who knew?; INTERNATIONAL: Energy inflation gathers pace in Europe; Slave labor builds solar panels to signal your virtues.
    Read More “Other Stories of Interest: Tue, Jul 6, 2021”

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