FERC Clears Freeport LNG to Restart 2 of 3 Liquefaction Trains
Finally! The Federal Energy Regulatory Commission (FERC) has granted permission to the Freeport LNG facility, located in Quintana, Texas, to restart two of three liquefaction “trains,” two of three LNG storage tanks, and one of two LNG births for ships to tie up and load. While the third train and third storage tank will need further FERC permission, Freeport predicts the entire facility–all three trains and the infrastructure that supports them–will be online and producing the maximum 2 Bcf/d (billion cubic feet per day) within “the next several weeks.”
Read More “FERC Clears Freeport LNG to Restart 2 of 3 Liquefaction Trains”
Chesapeake Energy has cut a deal to sell a second portion of its remaining Eagle Ford assets to U.K. chemical company INEOS Energy for $1.4 billion. The deal includes 172,000 net acres and approximately 2,300 wells. It is the first time INEOS will own U.S. shale assets. In 2018 Chesapeake, under the direction of then-CEO Doug Lawler, purchased 420,000 net acres in the Eagle Ford shale and Austin Chalk formations in Texas from WildHorse Resource Development Corp for $4 billion (see 
Last week Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its fourth quarter and full-year 2022 update. Antero management says the company can better handle low commodity prices for natural gas than other M-U drillers because (a) it sells 100% of its production outside of the M-U region, and (b) nearly half of the company’s revenues come from liquids, not methane.
Spanish-owed Repsol owns 214,000 net acres of leases in the Marcellus Shale, primarily located in northeastern Pennsylvania in Bradford, Susquehanna, and Tioga counties. Early last year (in January 2022), Repsol closed on a deal to buy Rockdale Marcellus out of bankruptcy for $222 million (see 
Equitrans Midstream, an important midstream (pipeline) company in the Marcellus/Utica, issued its fourth quarter and 2022 update yesterday. Equitrans is the builder and soon-to-be (hopefully!) operator of the 94% complete, 303-mile Mountain Valley Pipeline (MVP) project. There were some important updates on the MVP project yesterday. Along with MVP, Equitrans owns and operates the Rager Mountain Gas Storage Area in Jackson Township, Cambria County, PA, which suffered a massive leak last year. Officials provided some updates on that situation as well.
UGI, a diversified energy company with midstream (pipeline) operations and one of PA’s largest utility companies, is planning to build a second LNG peak shaver. The peak shaver will be located in Middlesex Township in Cumberland County, PA. In November 2020, UGI launched the operation of a new 2 million gallon LNG peak shaver in Bethlehem, PA (see 
Why would a major pipeline company (or driller) decide to cede control of the future of its company to a group of international leftists hellbent on destroying fossil energy? The answer eludes us, but it has just happened again. Yesterday, pipeline giant Williams, which owns and operates (among other major assets) the Transco Pipeline system, announced it had joined the UN’s Oil & Gas Methane Partnership 2.0 (OGMP 2.0). Support for OGMP 2.0 is growing in the natgas marketplace in the U.S. We previously told you that Cheniere Energy’s LNG export plants are seeking certification under OGMP 2.0 (see 
NATIONAL: What nobody is telling you about hydrogen combustion engines; Oilfield service results, projections reflect E&P spending patterns.