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Antero Buying Crestwood’s WV Marcellus Gathering Pipeline System
Yesterday both Antero Midstream (the pipeline subsidiary of Antero Resources), and Crestwood Equity Partners announced a deal to sell Crestwood’s remaining Marcellus assets to Antero for $205 million. The assets include 72 miles of dry gas gathering pipelines and nine compressor stations with approximately 700 MMcf/d of compression capacity located in Doddridge County and Harrison County in West Virginia.
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Pat McDonnell, who was Tom Wolf’s Secretary of the Pennsylvania Dept. of Environmental Protection (DEP) until July 2nd, has just become the President and CEO of a major PA anti-shale environmental group–PennFuture. McDonnell’s appointment at PennFuture raises disturbing questions about some of the decisions he made during his tenure at DEP. That McDonnell immediately became employed by one of the biggest detractors of and litigators against the DEP indicates McDonnell may have had an anti-drilling agenda and deep conflicts of interest while he served at the DEP. Was McDonnell a wolf in sheep’s clothing (no pun intended)? Was McDonnell Big Green’s inside man at DEP? Will there be an investigation of McDonnell and the decisions he made as head of the DEP? We certainly hope so.
Last week EQT Corporation confirmed it is buying Tug Hill’s THQ Appalachia operation with major assets in West Virginia for $5.2 billion (see 
Joe Manchin, U.S. Senator from West Virginia (now wildly unpopular in his home state) continues to have a tough time sealing the deal on a permitting reform bill that will help the Mountain Valley Pipeline (MVP) get done. Manchin traded his integrity away by voting to approve the so-called Inflation Reduction Act (a Big Green giveaway) in return for a vote on a bill to streamline the permitting of oil and gas projects like (and including) MVP. The Dems snookered Manchin into voting for the IRA with big promises, but now they don’t want to vote for his permitting bill, breaking those promises. Manchin needs help, and he’s turning to the oil and gas industry, hoping we will pressure Republican House and Senate members into helping him out. Don’t hold your breath, Joe.
Olympus Energy wants to drill six wells on a single pad in rural Elizabeth Township, a borough in Allegheny County on the east bank of the Monongahela River. The pad would sit about 1,700 feet (one-third of a mile) away from Elizabeth Forward High School. Some of the parents of students, and some of the administration, are pushing back against Olympus’ drilling plan, using the kiddies as an excuse (see 
Fool me once, shame on you. Fool me every time, shame on me. This is the trap that trade unions have fallen into by backing Democrat candidates like Josh Shapiro for Governor in Pennsylvania. On one level, it makes no sense. Why would unions back someone who will, as soon as he takes office, begin to enact policies that kill union jobs (pipeline workers, construction workers, welders, plumbers, etc.)? Shapiro has done nothing but attack the shale industry since he took office as Attorney General. Yet a number of trade unions whose members work on shale jobs have backed Shapiro–to the tune of $3 million. Why?
OTHER U.S. REGIONS: Distillate stocks in U.S. New England and Central Atlantic states fall to low levels; NATIONAL: The process, quirks and idiosyncrasies of U.S. natural gas pricing; This large U.S. driller just made a big move into LNG; Biden White House loves CA’s energy solutions – shortages and high costs.