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Marcellus Drilling News
  • CNG/LNG | Exporting | Industrywide Issues

    Tanker with Marcellus LNG from Cove Point Breaks Down in Suez Canal

    February 2, 2023February 2, 2023
    Grace Emilia (click for larger version)

    The Grace Emilia is an LNG tanker 975 feet long and 151 feet wide built and commissioned in 2021. According to VesselFinder, the Grace Emilia sails between the port of Dabhol in India and Cove Point in Maryland. India buys roughly half of the LNG produced at Cove Point (built by Dominion Energy, now operated by Berkshire Hathaway), while Japan buys the other half. As the Grace Emilia was transiting through the Suez Canal yesterday, it experienced a malfunction with its rudder. Some reports say the ship ran aground and tugs were used to float it again. Other reports (from the AP) don’t mention the ship running aground. We’re not exactly sure if it did or did not.
    Read More “Tanker with Marcellus LNG from Cove Point Breaks Down in Suez Canal”

  • Energy Services | Marathon Petroleum | MarkWest Energy

    MPLX (former MarkWest) Reports Gathering & Processing Less M-U Gas

    February 2, 2023February 2, 2023

    In late 2015, MPLX (i.e. Marathon Petroleum) bought out and merged in the Utica Shale’s premier midstream company, MarkWest Energy, for $15 billion (see MarkWest Energy Investors/Unitholders Approve Merger with Marathon). The “new” MarkWest, aka MPLX, plays on a much larger stage now, including ownership and operation of major assets in the Permian Basin and in the Bakken Shale, in addition to the Utica/Marcellus. On Tuesday, MPLX issued its fourth quarter and full-year 2022 update. The company reports gathering and processing slightly less natgas in the M-U in 2022. But it was a comment from MPLX’s CEO during a conference call that really hit us in the gut.
    Read More “MPLX (former MarkWest) Reports Gathering & Processing Less M-U Gas”

  • CNG/LNG | Exporting | Industrywide Issues | Regulation

    FERC Approves Freeport LNG Request to Reintro Feedgas to 1st Train

    February 2, 2023February 2, 2023

    On Tuesday, Freeport LNG, which has been out of operation since an explosion and fire in June 2022, asked the Federal Energy Regulatory Commission (FERC) for permission to begin introducing feedgas back into one of three liquefaction “trains” (units) at the facility (see Freeport LNG Seeks to Take Next Step, Reintro Feedgas to 1st Train). Yesterday FERC responded by granting permission.
    Read More “FERC Approves Freeport LNG Request to Reintro Feedgas to 1st Train”

  • Commodity Price | Industrywide Issues

    Another Big Dip in NYMEX Gas Price – Biggest Mo. Drop in 22 Yrs

    February 2, 2023February 2, 2023

    We keep commenting on the futures price of natural gas, the NYMEX Henry Hub price, because it keeps heading lower. Yesterday the NYMEX price closed down another 22 cents to $2.47/MMBtu, the lowest settlement price since April 6, 2021 (22 months). Here’s another somber statistic: The NYMEX price fell the most during a single month (in January), then it has fallen in 22 YEARS. The NYMEX price fell a whopping 40% in January.
    Read More “Another Big Dip in NYMEX Gas Price – Biggest Mo. Drop in 22 Yrs”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Regulation

    Biden Admin Regroups, Attacks Gas Stoves Again via New DOE Regs

    February 2, 2023February 2, 2023

    In early January, MDN told you that the Bidenista who heads up the Consumer Product Safety Commission (CPSC) floated a trial balloon to ban the use of natural gas stoves across the entire country (see Bidenistas Make a Run at Banning Natural Gas Stoves Nationwide). The CPSC Bidenista used a sham study from the Rocky Mountain Institute that purportedly showed a link between gas stoves and childhood asthma as his excuse. Under withering attacks, the Rocky Mountain Institute has admitted, publicly, that their study does NOT prove a link between gas stoves and asthma actually exists (see Author of Sham “Study” on Gas Stoves Admits No Link to Asthma). There was an uproar over the CPSC statements, and the Bidenistas, including Biden spokesperson Raggedy Ann, walked back the comments. But what’s this? Since the CPSC botched the job, the Bidenistas at the Dept. of Energy (DOE) have decided to pick up the ball and run with it instead.
    Read More “Biden Admin Regroups, Attacks Gas Stoves Again via New DOE Regs”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Regulation

    Bidenistas Sets Methane Emissions Targets with No Way to Measure

    February 2, 2023February 2, 2023

    A false and misleading story by the Associated Press spins all sorts of excuses for why the Bidenistas at the federal Environmental Protection Agency (EPA) will not be able to do its job in tracking and enforcing reductions in fugitive methane. Donald Trump is one of the reasons, even though he’s been out of office for more than two years. According to the lying “reporters” of the AP, Trump “gutted” the EPA, and the agency doesn’t have enough help (wah wah wah). There aren’t enough satellites, either. And not enough drone technology. Not enough of this and not enough of that–even with the gazillions of dollars allocated to the agency. The truth that shines through the article is this: The Democrats, including Traitor Joe Manchin, passed a new law last year (the Inflation Reduction Act) that sets standards to reduce fugitive methane–and they have no practical way to know if those standards are being met. Isn’t that typical of the left?
    Read More “Bidenistas Sets Methane Emissions Targets with No Way to Measure”

  • MUI

    MDN Upstream Index (MUI) – Feb 2, 2023

    February 2, 2023February 2, 2023

    The most recent day of active trading was Wed., Feb. 1, 2023. The numbers below reflect yesterday’s closing numbers.


    Read More “MDN Upstream Index (MUI) – Feb 2, 2023”

  • Best of the Rest

    Other Stories of Interest: Thu, Feb 2, 2023

    February 2, 2023February 2, 2023

    NATIONAL: Oil plunges as US stockpiles grow; US DOE provides funds for affordable clean hydrogen technologies; U.S. proved reserves of crude oil increased significantly in 2021; Democratic voters cheer on gas stove ban; Natural gas truck sales volatile, filling stations decrease; U.S. LNG exports fall 5% as shipments to Europe slip; INTERNATIONAL: LNG interest from Asia’s emerging gas markets rises as prices ease; German gas storage facility down until Friday, no indication of sabotage; Portfolio players take on critical roles in rapidly commoditizing global LNG market.
    Read More “Other Stories of Interest: Thu, Feb 2, 2023”

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