Butler County | Energy Services | Industrywide Issues | M&A | Pennsylvania | Pipelines | Stonehenge Energy | UGI Energy Services
UGI Buys Stonehenge’s Marcellus Midstream Assets for $190M
Last September UGI Corporation, one of Pennsylvania’s largest natural gas utility companies, completed a deal to buy Mountaineer Gas Company, one of West Virginia’s largest natural gas utility companies, for $540 million (see PA’s UGI Finally Completes Purchase of WV’s Mountaineer Gas Co.). UGI is on the hunt again. This time UGI is buying the Stonehenge Appalachia Midstream natural gas gathering system in Butler County, PA, for $190 million.
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We’re not sure why this story is not the top story on all of the state and national news networks. Using the threat of withholding public money, Pennsylvania Gov. Tom Wolf outright extorted Democrat members of the PA legislature to support his odious carbon tax plan, otherwise known as the Regional Greenhouse Gas Initiative (RGGI). Before a key vote last month in the PA Legislature, Wolf offered a quid pro quo: Democrat legislators either support RGGI or Wolf will withhold approval for state funding for local projects in their districts. Why are there no investigations and demands for jail time?
Two subsidiaries of Connecticut hedge fund Kensico Capital Management filed a lawsuit against EQT on December 28 alleging EQT committed securities fraud during its $6.7 billion acquisition and merger with Rice Energy in 2017. The suit was filed by Saxena White PA on behalf of Kensico Associates and Kensico Offshore Fund Master Ltd. Kensico is not the first large investor to sue EQT over the 2017 merger (see 
After going all the way to the U.S. Supreme Court and winning, PennEast Pipeline, a 120-mile, primarily 36-inch pipeline that would have cost $1 billion to build and run from Dallas, Luzerne County, in northeastern Pennsylvania, and terminate at Transco’s pipeline interconnection near Pennington, Mercer County, New Jersey, threw in the towel last September (see 
In June 2020 the U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA), in coordination with the Federal Railroad Administration (FRA), published final rules to allow LNG (liquefied natural gas) to be safely transported by special rail cars (see 
This edition of the Marcellus/Utica permits report covers the past two weeks as MDN was taking a break during the last week of 2021. For the period of December 20 through January 2, there were 29 permits issued to drill new shale wells in Pennsylvania, Ohio, and West Virginia. PA had 16 new permits (most of them located on two well pads), OH had 12 new permits (spread across five well pads), and WV had just one new permit. Must be WV DEP took the last two weeks of the year off.
MARCELLUS/UTICA REGION: New Monaca Shell cracker plant to hold hiring event in Lisbon; OTHER U.S. REGIONS: Lack of gas infrastructure sends New England’s power prices soaring; NATIONAL: US becomes world’s top LNG exporter for first time ever; INTERNATIONAL: OPEC+ agrees to revive more output; Here’s why OPEC+ didn’t respond to U.S. calls for more oil.