Marcellus Drilling News

Enbridge | Energy Services | Industrywide Issues | Pipelines | Regulation

Enbridge Gets Serious About New TN Pipe to Feed TVA Power Plant
June 23, 2022June 23, 2022

The Tennessee Valley Authority (TVA) is a federally-owned electric utility corporation in the U.S. TVA’s service area covers all of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small areas of Georgia, North Carolina, and Virginia. TVA is the sixth-largest power supplier and the largest public utility in the country. One year ago MDN told you that TVA is spending over $1 billion to replace six coal-fired plants with natgas-fired turbines (see TVA Investing $1B to Build New Natgas-Fired Electric Plants). Enbridge has plans to build a natural gas pipeline across Tennessee to get gas to one of TVA’s planned power plants.
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CNG/LNG | Delaware County (PA) | Exporting | Industrywide Issues | Pennsylvania | Philadephia

Proposed Philly LNG Export Plant Looking for Real Estate to Build
June 23, 2022June 30, 2022

Map showing section of the Delaware River where Penn LNG wants to locate (click for larger version)

Early last week MDN brought you the fantastic news that seemingly out of nowhere, a plan to build an LNG export facility on the banks of the Delaware River south of Philadelphia is being actively, seriously discussed (see U.S. East Coast’s 3rd LNG Export Plant Proposed Near Philadelphia). Penn LNG, headed by a native of Philadelphia, has “quietly lined up support to build a $6.4 billion liquefied natural gas export terminal near Philly.” However, the favored site for the project–a functioning warehouse (once upon a time a Ford assembly plant) in Delaware County–is not for sale or lease according to the owner. No worries. Penn LNG is “mulling several spots between South Philadelphia and Marcus Hook” according to a new article we spotted.
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Chesapeake Energy | Energy Companies

Chesapeake Energy Boosts Stock Buyback from $1B to $2B
June 23, 2022June 23, 2022

click for larger version

Last December the Chesapeake Energy board of directors authorized management to buy back up to $1 billion worth of company stock and warrants during 2022 and 2023, as market conditions permit (see Chesapeake Announces $1B Stock Buyback Over Next 24 Months). The board voted yesterday to double the amount of the buyback from $1 billion to a staggering $2 billion by the end of 2023. So far Chesapeake has repurchased 5.4 million shares at an average price of $89 per share, equalling roughly $480.6 million in shares repurchased.
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Industrywide Issues | Pipelines | Regulation

Operational Spire STL Pipe Clears New Draft EIS – Important 1st Step
June 23, 2022June 23, 2022

click for larger version

Spire STL is a 65-mile pipeline that connects to and flows Marcellus/Utica gas from the Rockies Express (REX) pipeline to residents and businesses in the St. Louis, MO area. The pipeline began flowing gas in late 2019 (see Spire Pipeline Ready to Flow Marcellus/Utica Gas to St. Louis). In June 2021, three Democrat judges on the U.S. Court of Appeals for the D.C. Circuit overturned the certificate the Federal Energy Regulatory Commission (FERC) issued for building Spire STL (see Fed Court Overturns Marcellus to St. Louis Pipe – Shutdown Coming?). The court’s action has reset the project back to starting line. The pipeline continues to operate under a temporary authorization by FERC and is now going through the entire FERC approval process for a second time. The project recently took an important first step forward.
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Industrywide Issues | Research

Q2 U.S. NatGas Production Up 2%, Led by Haynesville & M-U
June 23, 2022June 23, 2022

According to S&P Global’s Platts Analytics service, U.S. natural gas production in June increased slightly to an average 94.5 Bcf/d (billion cubic feet per day), up nearly 1.9 Bcf/d (roughly 2%) compared with a first-quarter average at 92.6 Bcf/d. The increase was led by more output in the Haynesville which has grown by 600 MMcf/d (million cubic feet per day) since March, and in the Marcellus/Utica, which has grown by 420 MMcf/d since March.
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Energy Companies | EQT Corp | ESG | Industrywide Issues

EQT Issues 2021 ESG Report – Net Zero for Scope 1 & 2 by 2025
June 23, 2022June 23, 2022

Yesterday EQT Corporation, the largest producer of natural gas in the United States, announced the publication of its 2021 Environmental, Social and Governance (ESG) Report (full copy below) highlighting the company’s progress in achieving so-called net zero Scope 1 and 2 greenhouse gas (GHG) emissions. The report also addresses EQT’s leadership in advocating for natural gas as an affordable, reliable, and clean energy source for the U.S. and the world.
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Best of the Rest

Other Stories of Interest: Thu, Jun 23, 2022
June 23, 2022June 23, 2022

MARCELLUS/UTICA REGION: Restarting Pennsylvania’s oil production is Dr. Oz’s ‘top priority’; OTHER U.S. REGIONS: INEOS signs 1.4 mtpa LNG deal with Sempra Infrastructure; Dallas Cowboys owner scores on billion-dollar natural-gas gambit; Cheniere Energy authorizes expansion at Texas LNG export plant; NATIONAL: US shale drilling accelerates, offsets loss of DUCs, grows production; We need a holiday from President Biden’s energy policies; U.S. refiners to urge White House not to ban fuel exports -sources; INTERNATIONAL: Oil drops with global recession fears; Gas drilling projects resurrected around Europe.
Read More “Other Stories of Interest: Thu, Jun 23, 2022”