Red Tsunami that Wasn’t – Repubs May Take House, PA Biggest Loser
We sincerely thought yesterday’s election would have a far better turnout. We’re trying not to despair, but it’s hard. New York State is lost. It’s gone. Overrun with crime and zero prospects for fracking–ever. It’s time to leave NY (we never thought we would say it, but we’re giving up on NY). The Pennsylvania Marcellus industry is now in for four very hard years under Gov. Josh Shapiro. We warned you he would come for the Marcellus. We’ll be here to chronicle it. And John Fetterman? What a disaster. He’s never even held a real job, he can’t speak in complete sentences–and he’s your new U.S. Senator. A full-fledged Communist. PA–you will now get what you deserve. Tough words of tough love.
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EQT has sued its own (former) law firm, Baker Botts, and one of the partners at the firm, for allegedly giving the company bad advice with respect to the Hammerhead Pipeline gathering system owned by Equitrans Midstream (EQT’s former subsidiary). The lawsuit seeks at least $1 million in damages. Baker Botts is based in Texas, so the lawsuit was filed in the 61st District Court in Harris County, TX. Hammerhead is a $555 million, approximately 190-mile gathering system created by Equitrans to gather EQT’s production in southwest PA and haul it (64 miles) to Mobley, WV, where it will connect with the Mountain Valley Pipeline (MVP) and EQT’s Ohio Valley Connector pipeline (see 
Enerplus is based in Calgary, Alberta (Canada). It is a Canadian energy company. And yet the company has just announced the sale of its remaining Canadian assets located in Alberta and Saskatchewan to Surge Energy Inc. on Nov. 2 for CA$245 million (US$180 million). The reason for the sale? Enerplus wants to focus most of its time and effort (and money) on drilling in the Bakken Shale in North Dakota. However, Enerplus does maintain (and wants to continue) an active position in the Marcellus Shale, in northeastern Pennsylvania.
The Catholic nuns of Lancaster County’s Adorers of the Blood of Christ are still, all these years later, trying to shake down Williams for more money because of a pipeline that runs underneath a cornfield owned by the sisters (hence our nickname for them). Using lawyers from Big Green groups, the nuns argued their “religious beliefs” were offended by the pipeline because it flows a nasty, filthy fossil fuel that causes global warming. We’ve lost track of how many lawsuits the sisters have filed, using OPM (other people’s money). The most recent lawsuit, filed in the Philadelphia-based U.S. Third Circuit Court of Appeals, was just shot down by the court.
Howard Energy Partners (HEP) is a midstream/pipeline company that owns and operates natural gas and crude oil pipelines, natural gas processing plants, refined products storage terminals, deep-water dock and rail facilities, fractionation facilities, hydrogen production facilities, renewable diesel logistics facilities, and other related midstream assets in Texas, New Mexico, Oklahoma, Pennsylvania, and Mexico. The company owns more than 600 miles of natural gas gathering pipelines with some 100+ of those miles located in the PA Marcellus. Yesterday, Alberta Investment Management Corporation (AIMCo) announced it has purchased a controlling interest (87%) in HEP. AIMCo is the new owner.
CNX Resources has done it again. Earlier this week CNX announced a deal to provide “abated” methane to New Frontier Aerospace, Inc. (NFA) to fuel NFA’s soon-coming hypersonic passenger jets. The NFA concept is beyond cool. The jets will take off and land vertically, fly at 5,000 miles per hour, covering up to 8,000 miles in just two hours. How about a trip from New York City to London in a little over 40 minutes?!
Once a month, the analysts at the U.S. Energy Information Administration (EIA) grab the official Henry Hub pricing dart board and play a quick game to determine what price they will predict for the average Henry Hub spot price for natural gas for the rest of this year, and an average price for all of next year. Two months ago (in September), EIA predicted in its Short-Term Energy Outlook (STEO) that the Henry Hub average price for natural gas in the fourth quarter of this year would hit $9/MMBtu, and the average for all of 2023 would be around $6/MMBtu (see 
MARCELLUS/UTICA REGION: Pace Analytical Services adds four locations in Pennsylvania; OTHER U.S. REGIONS: Cheniere cleared to put shuttered Sabine Pass LNG tank back in service; NATIONAL: Kerry says Republican victory will end climate aid; Environmental groups push Interior to delay oil lease sales.