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Sisters of the Corn Appeal Lost Lawsuit Against Lancaster Pipe
In October 2020 the Sisters of the Corn (our name for a group of leftist nuns in Lancaster County, PA) filed yet another frivolous lawsuit against Williams over a pipeline that crosses their land–a pipeline (Atlantic Sunrise) that has been up and running safely for years (see Sisters of the Corn Return – Sue Williams re Atlantic Sunrise Pipeline). The Sisters claim an infringement of their “religious liberties” in the lawsuit. Two weeks ago a federal judge dismissed their frivolous lawsuit (see Sisters of the Corn Lose Yet Another Lawsuit Against Lancaster Pipe). The Sisters, using money from Big Green groups, is appealing that court decision.
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Although the U.S. Energy Information Administration (EIA) is forecasting an average Henry Hub NYMEX price of $5.80 for the fourth quarter of this year, and a slightly higher average of $5.90 for January 2022 (see today’s companion story), Platts analysts are out with a shocking forecast of their own. Platts says if natural gas drillers don’t return to more drilling soon, the price of natgas at Henry Hub will spike up to $12-$14/MMBtu this winter.
Each month the U.S. Energy Information Administration (EIA) issues a Short-Term Energy Outlook (STEO). In the latest STEO update, released two days ago, EIA predicts the Henry Hub spot price will average $5.80/MMBtu in 4Q21, which is $1.80/MMBtu higher than EIA forecasted in their September STEO (see 
Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May with a new board and new top management (see 
“All aboard! Next stop, responsibly sourced gas.” Both the Marcellus/Utica and the Haynesville shale plays have emerged as the major shale basins for so-called certified natural gas. Certified for what? Certified that the companies extracting it and (now) the companies flowing it through pipelines (i.e. the midstream) are doing so “responsibly.” We guess they did so irresponsibly before, right? What exactly is responsibly sourced gas (RSG) and how is the midstream (and upstream) tackling certification?
If we were an investor in either Occidental Petroleum or Worley, we’d be very worried. In a conversation with Daniel Yergin, vice chairman, IHS Markit, both Vicki Hollub, CEO of Occidental Petroleum, and Chris Ashton, CEO and managing director of Worley discuss their partnership to build a large-scale direct air carbon capture facility in the Permian Basin (expected to startup in 2024) and the potential to scale the technology further. Hollub and Ashton are gambling the future of their companies on so-called carbon capture.
MARCELLUS/UTICA REGION: DEP reg requires 22% of car sales in PA zero emission in 2025; Marcellus cools off in 3Q shale M&A; Man sentenced for damaging Greene County natural gas drilling site; NATIONAL: Jim Cramer thinks Tellurian is a great speculative play; US weekly LNG exports fall from last week; As gasoline prices surge, Biden admin shifts blame to ‘anticompetitive practices’; INTERNATIONAL: Europe’s self-inflicted energy crisis.