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Marcellus Drilling News
  • Industrywide Issues | Litigation | Pipelines | Regulation

    DC Circuit Guts PHMSA Reg re Shut-off Valves on Gathering Pipes

    May 17, 2023May 17, 2023

    In November 2021, the Bidenistas initiated a massive power grab to transfer the right of individual states to regulate local natural gas gathering pipelines to the federal government’s Pipeline and Hazardous Materials Safety Administration (see Massive Power Grab Proposed by Biden DOT: Regulate Gathering Lines). The oil and gas industry asked Biden to pause the power grab by 3-5 years. In April 2022, the Bidenistas rejected that request, so the GPA Midstream Association (later joined by the American Petroleum Institute) sued the Dept. of Transportation and its PHMSA division to block the new regulations. PHMSA agreed to pause enforcement until May 2024 (see PHMSA Backs Down, Pauses New Gathering Pipe Reg After Getting Sued). However, the pause in enforcement didn’t stop the PHMSA from floating onerous new one-size-fits-all regulations on gathering pipelines. Yesterday, the U.S. Court of Appeals for the District of Columbia (DC Circuit) gutted the new PHMSA reg for gathering pipelines.
    Read More “DC Circuit Guts PHMSA Reg re Shut-off Valves on Gathering Pipes”

  • ESG | Industrywide Issues | M&A | McKean County | Pennsylvania

    Canadian Methane Offsets Co. Buys Northwest Pa. Well Plugging Co.

    May 17, 2023May 17, 2023

    Zefiro Methane Corp., a private “methane offsets originator” (we will explain) headquartered in Vancouver, British Columbia, has acquired a majority ownership stake in Plants & Goodwin (P&G), an OFS and oil well-plugging company located in Bradford (McKean County), Pennsylvania, for an undisclosed sum. It appears P&G will continue as its own standalone company, but its services of plugging abandoned and orphan wells will be joined with the services Zefiro offers in methane emission offsets–also known as carbon offset credits.
    Read More “Canadian Methane Offsets Co. Buys Northwest Pa. Well Plugging Co.”

  • Allegheny County | Berkshire Hathaway | Energy Services | Industrywide Issues | Pennsylvania | Pipelines

    Upgrades to Eastern Gas Metering Station in Plum Done by Summer

    May 17, 2023May 17, 2023

    Eastern Gas Transmission and Storage (EGTS), a subsidiary of Warren Buffett’s Berkshire Hathaway Energy company, provides natural gas transportation and storage services with one of the largest underground natural gas storage systems in the United States. Essentially EGTS is a pipeline network that connects to other pipelines to flow and store natural gas in six states: Maryland, New York, Ohio, Pennsylvania, Virginia, and West Virginia. An upgrade of an EGTS metering station in Plum (Allegheny County, PA, near Pittsburgh) is currently under construction and due to be complete “by summer.”
    Read More “Upgrades to Eastern Gas Metering Station in Plum Done by Summer”

  • Electrical Generation | Industrywide Issues

    TVA Proposes NatGas Power Plant, 122-Mile Pipeline for East Tenn.

    May 17, 2023May 17, 2023

    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. In July 2021, 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). Good news! TVA announced earlier this week that it would convert a second coal-fired plant, this one in East Tennessee, to a natural gas-fired plant capable of generating 1.5 gigawatts of electricity. The project also includes contracting with Enbridge to build a new 122-mile pipeline.
    Read More “TVA Proposes NatGas Power Plant, 122-Mile Pipeline for East Tenn.”

  • Economic Impact | Industrywide Issues | Ohio | Statewide OH

    Cleveland U Study: Ohio Utica Shale Investment Tops $100 Billion

    May 17, 2023May 17, 2023

    JobsOhio, a private, nonprofit corporation that works on behalf of the state to drive job creation and new capital investment in Ohio by attracting business, contracts out economic research to Cleveland State University (CSU) to keep tabs on the Utica Shale industry. JobsOhio released the latest CSU updated report yesterday (full copy below), showing that more than $100 billion has been invested in Ohio across natural gas, natural gas liquids, and petrochemical supply chain industries in just over ten years. Massive!
    Read More “Cleveland U Study: Ohio Utica Shale Investment Tops $100 Billion”

  • Commodity Price | Industrywide Issues

    EIA Predicts Henry Hub Price to Hit Average $3.71 in December 2023

    May 17, 2023May 17, 2023

    Lately, we’ve been closely monitoring the price of natural gas, looking for indicators as to when the price will quit bumping around near $2/MMBtu and go higher once again. Two days ago, we told you experts are predicting we’ve now hit bottom, and the price of natgas will begin to rise (see Big NatGas Investor Says Commodity Price has Bottomed, Going Higher). Yesterday, the U.S. Energy Information Administration (EIA) outlined its case for why it believes the average price of the NYMEX Henry Hub will hit $3.71/MMBtu by December of this year.
    Read More “EIA Predicts Henry Hub Price to Hit Average $3.71 in December 2023”

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

    FERC Chairman Willie Phillips (a Democrat) Offends the Radical Left

    May 17, 2023May 17, 2023
    Willie Phillips, Acting FERC Chairman

    We’re rapidly warming up to Federal Energy Regulatory Commission (FERC) Acting Chairman Willie Phillips. He’s a unicorn–a Democrat in a position of high power in the D.C. swamp who is actually reasonable (able to be reasoned with). Phillips does not irrationally hate all fossil fuels, as do many of the whack jobs in his party. Because Phillips has voted with the two Republican commissioners to approve a number of new fossil energy pipeline projects, the whack jobs hate him and want him gone.
    Read More “FERC Chairman Willie Phillips (a Democrat) Offends the Radical Left”

  • MUI

    MDN Upstream Index (MUI) – May 17, 2023

    May 17, 2023May 17, 2023

    The most recent day of active trading was Tue., May 16, 2023. The numbers below reflect yesterday’s closing numbers.


    Read More “MDN Upstream Index (MUI) – May 17, 2023”

  • Best of the Rest

    Other Stories of Interest: Wed, May 17, 2023

    May 17, 2023May 17, 2023

    NATIONAL: EPA running roughshod over Congress and consumers; INTERNATIONAL: Japan embraces G7’s gas support but companies may face problems; India looks to lock in long-term LNG deals; Oil falls as Chinese demand growth slows.
    Read More “Other Stories of Interest: Wed, May 17, 2023”

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