Marcellus Drilling News

Energy Companies | Marshall County | Tug Hill Operating | West Virginia | Wetzel County

Tug Hill’s THQ Appalachia Shops Itself for $5 Billion
June 21, 2022June 23, 2022

Tug Hill Operating is focused on acquiring, exploring, developing, and producing oil and natural gas in the onshore U.S. with a primary focus on the Marcellus Shale in the Appalachia Basin (Southwest Appalachia in West Virginia, and Northeast Appalachia in Pennsylvania), Eagle Ford Shale in South Texas, Niobrara Shale in the Rockies region, and other select basins and formations. According to sources speaking with Reuters, Tug Hill is looking to divest its West Virginia assets for $5 billion.
Read More “Tug Hill’s THQ Appalachia Shops Itself for $5 Billion”
Industrywide Issues | Pennsylvania | Statewide PA | Taxation

PA Pays Out $234M in Impact Tax for 2021 – 2nd Highest Ever
June 21, 2022June 21, 2022

click for larger version

Last Friday the Pennsylvania Public Utility Commission (PUC) posted detailed information about this year’s distribution of last year’s impact fees generated by natural gas producers. Great news! PA raised a total of $234 million from Act 13 impact fees (PA’s version of a severance tax). That is the second-highest amount raised and distributed by impact fees from the beginning of the program. The impact fee is based, in part, on the NYMEX Henry Hub price of natural gas. The price went up a lot last year. It’s gone up even more this year. County and municipal governments directly affected by drilling are receiving a total of $123 million for the 2021 reporting year–roughly half of the revenue raised. The rest goes into the black hole of Harrisburg where PA politicians use it as play money for their favorite causes.
Read More “PA Pays Out $234M in Impact Tax for 2021 – 2nd Highest Ever”
Chesapeake Utilities | Energy Services | Industrywide Issues | Maryland | Pipelines | Statewide MD

Maryland Gov. Celebrates Del-Mar Energy Pathway Pipe Going Online
June 21, 2022June 21, 2022

Gov. Hogan joins Chesapeake Utilities staff to celebrate pipeline project (click for larger version)

A short 19-mile pipeline project called the Del-Mar Energy Pathway project, crossing both Delaware and Maryland, is finally online and operational. In addition to building 19 miles of pipeline, Del-Mar constructed new meter and delivery stations in Kent and Sussex counties in Delaware, and Wicomico and Somerset counties in Maryland, to carry more natural gas to locations in Delaware and Maryland. Maryland Gov. Larry Hogan (RINO) visited one of the locations of the new pipeline on June 14 to celebrate with Chesapeake Utilities Corporation, the builder of the project.
Read More “Maryland Gov. Celebrates Del-Mar Energy Pathway Pipe Going Online”
Chesapeake Energy | CNG/LNG | Energy Companies | EQT Corp | Exporting | Industrywide Issues

Conference Addresses Why It’s Hard to Export More M-U LNG
June 21, 2022June 21, 2022

Wrapping up the coverage of the recent Hart Energy DUG East Conference, Pittsburgh Business Times reporter Paul Gough pulled together comments by various speakers on the topic of LNG and whether or not the Marcellus/Utica can and will benefit from a growth in American LNG exports. Opinions by some of the biggest drillers in the M-U diverged on this topic.
Read More “Conference Addresses Why It’s Hard to Export More M-U LNG”
CNX Resources | Energy Companies | ESG | Industrywide Issues | Regulation

CNX, IPAA File Comments Critical of SEC Proposed ESG Reporting Regs
June 21, 2022June 21, 2022

In March the U.S. Securities and Exchange Commission (SEC), corrupted by the Bidenistas, said it will begin to force all publicly traded companies to disclose their so-called greenhouse gas (GHG) emissions and the imaginary climate risks their businesses face (see SEC Votes to Force Public Companies to Disclose Mythical GHG Risks). Companies will have to pretend they care about supposed man-caused global warming and cook up hokey methods for evaluating how much carbon dioxide not just their own company, but their customers “emit” into the air when using a company’s products (so-called Scope 3 emissions). Comments on the onerous new rules were due last Friday. Both CNX Resources and the Independent Petroleum Association of America (IPAA) filed comments pointing out the deeply flawed problems with what the SEC is proposing. The agency is full of beans.
Read More “CNX, IPAA File Comments Critical of SEC Proposed ESG Reporting Regs”
CNG/LNG | Commodity Price | Exporting | Industrywide Issues

Will Freeport LNG Fire Cause NatGas Prices to Drop to 2021 Levels?
June 21, 2022June 21, 2022

Have you been watching the NYMEX Henry Hub futures price? It’s been dropping like a rock since last week when a fire caused Freeport LNG and its 2 Bcf/d of exported LNG to go offline (see NYMEX NatGas Down 20% in Single Day on Freeport LNG Bad News). Freeport will be largely offline for most of the balance of 2022. We spotted a post by an analyst on the Seeking Alpha investor’s website talking about the Freeport situation and its impact on the price of natural gas (specifically on the UNG ETF). The analyst had some interesting things to say about how and whether the Freeport situation will affect natgas prices here at home.
Read More “Will Freeport LNG Fire Cause NatGas Prices to Drop to 2021 Levels?”
Anti-Drilling/Fossil Fuel | Industrywide Issues

Leftwing Media Finally Starts to Criticize Biden Admin re Energy
June 21, 2022June 21, 2022

Climate Bidenistas

You know when your own tribe, your own party members, turn against you, the end (politically) is near. We’re talking about the Commies of CNN and the socialists of CNBC who are finally, after two years, beginning to be critical, on camera, with members of the Biden administration with respect to the admin’s bumbling energy policies. Both Jennifer Granholm (the dullest, most inept Secretary of Energy EVER to occupy that post) and Rep. Ro Khanna (Democrat Congressman from California, a dimwitted apologist for Biden) were recently challenged on open, publicly broadcasted television newscasts. Granholm was challenged by CNN, and Khanna by CNBC. The challenge in both cases was the same: The Bidenistas can’t say “spend billions on reopening refineries and drilling more now” and at the same say “this is short-term and we want to shut fossil energy down in a few years.” Finally! The truth is beginning to be told.
Read More “Leftwing Media Finally Starts to Criticize Biden Admin re Energy”
Best of the Rest

Other Stories of Interest: Tue, Jun 21, 2022
June 21, 2022June 21, 2022

NATIONAL: Chevron eyes $2.5B investments in low-carbon hydrogen; Oil nosedives on Fed inflation actions; INTERNATIONAL: Germany will fire up coal plants again in an effort to save natural gas.
Read More “Other Stories of Interest: Tue, Jun 21, 2022”