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Marcellus Drilling News
  • BKV/Banpu | Bradford County | Chesapeake Energy | Coterra Energy (Cabot O&G) | Diversified Energy | Energy Companies | Energy Services | EQT Corp | Industrywide Issues | Inflection Energy | Keystone Clearwater Solutions | Lackawanna County | Lycoming County | Pennsylvania | Pennsylvania General Energy | Regulation | Repsol | Seneca Resources | Southwestern Energy | Susquehanna County | Tioga County (PA) | Wyoming County (PA)

    SRBC Water Withdrawal Restrictions Hit 42 PA Oil & Gas Operators

    May 31, 2023May 31, 2023

    The weather has been fantastic for those of us living in the northeastern U.S. over the past few weeks. Clear blue skies (when they aren’t clouded with wildfire smoke from Canada), really warm temperatures, and absolutely no rain to spoil outdoor activities. Here in the Binghamton, NY area, we went from a surplus of rain and swollen rivers and lakes just a month ago to a rain deficit today. Lawns and fields and beginning to turn brown. Hey, we’re not complaining! But we do need some rain. The lack of rain in the Susquehanna River Basin has triggered water withdrawal restrictions for 42 oil and gas drillers and four other large water users (46 in all) by the Susquehanna River Basin Commission (SRBC). In many cases, the SRBC order is to “cease withdrawal.”
    Read More “SRBC Water Withdrawal Restrictions Hit 42 PA Oil & Gas Operators”

  • Industrywide Issues | Litigation | Pipelines | Regulation | Statewide WV | West Virginia

    If Debt Bill Passes, All 4th Circuit Lawsuits re MVP Dismissed

    May 31, 2023May 31, 2023

    Although U.S. Senator Joe Manchin “absolutely thinks” that Congress will pass the debt ceiling bill negotiated by President Joe Biden and House Speaker Kevin McCarthy, it’s still an open question as to whether or not it will pass. There are plenty of people on both ends of the political spectrum who are more than unhappy with the bill and plan to vote against it. At least, that’s what they say now. Today will be the acid test when a finalized bill appears and gets a vote in the House of Representatives. The billed, called the “Fiscal Responsibility Act of 2023,” contains language that forces the completion of the 303-mile Marcellus/Utica Mountain Valley Pipeline (MVP). Manchin says if the bill passes, all currently open and pending lawsuits against MVP in the U.S. Court of Appeals for the Fourth Circuit will be immediately dismissed.
    Read More “If Debt Bill Passes, All 4th Circuit Lawsuits re MVP Dismissed”

  • Energy Services | Equitrans/EQT Midstream | Industrywide Issues | Pipelines | Regulation

    Equitrans Midstream Stock Soars 42% Thanks to MVP in Debt Bill

    May 31, 2023May 31, 2023
    click for larger version

    Although the debt ceiling bill (“Fiscal Responsibility Act of 2023”) is far from being voted on and passed, the investor world thinks it’s a done deal based on how *they* vote–with their money. The debt bill contains a provision that forces the completion of Mountain Valley Pipeline (MVP), a 303-mile Marcellus/Utica natural gas pipeline from Wetzel County, WV, to Pittsylvania County, VA. The pipeline is 94% completed but has been snared in delays brought on by Big Green lawsuits and a complicit and colluding 4th Circuit Court of Appeals. If the debt ceiling bill passes and it retains the language about MVP, the company building it, Equitrans Midstream, will benefit. Equitrans’ (ETRN) stock price has soared, up over 41% this week on the news about MVP in the debt bill.
    Read More “Equitrans Midstream Stock Soars 42% Thanks to MVP in Debt Bill”

  • Industrywide Issues | Pipelines | Regulation

    Jury Still Out on Debt Bill’s Ability to Deliver Permitting Reform

    May 31, 2023May 31, 2023

    Will the debt ceiling bill, the “Fiscal Responsibility Act of 2023,” actually get passed? And, will it retain the sections that deal with completing the Mountain Valley Pipeline (MVP) and so-called permitting reform? That’s the gazillion-dollar question. We should know within the next day or so whether the bill, largely as written, will survive. Let’s assume, for the moment, that it does survive and gets adopted. We brought you the preliminary language of the 99-page bill yesterday (see Biden-McCarthy Debt Ceiling Deal Includes Finishing MVP PDQ). Section 107 in the bill, called “Timely and Unified Federal Reviews,” provides for permitting reform that speeds up fossil energy and renewable energy projects. Here’s another gazillion-dollar question: Will Section 107 do what it advertises?
    Read More “Jury Still Out on Debt Bill’s Ability to Deliver Permitting Reform”

  • Delaware County (PA) | Industrywide Issues | LDCs | Litigation | Pennsylvania | Pipelines | Regulation

    PECO NatGas Reliability Stn Near Philly Still on Hold 2 Mos Later

    May 31, 2023May 31, 2023
    An updated (2023) architect’s rendering of PECO’s gas reliability station (click for larger version)

    In the autumn of 2020, utility company PECO (headquartered in Philadelphia) floated a plan to build a natural gas reliability station in Marple Township (Delaware County, PA) to allow the company to distribute more natural gas into Delaware County through 11.5 miles of new natural gas main lines. The PA Public Utility Commission (PUC) granted PECO’s request to build the station, and the PUC’s decision was promptly challenged in court. In March, Commonwealth Court ruled against the PUC decision, instructing the agency to take another look before granting permission to build the reliability station (see Court Overturns PUC Decision Allowing PECO NatGas Reliability Stn). Since that time, the project has been on hold.
    Read More “PECO NatGas Reliability Stn Near Philly Still on Hold 2 Mos Later”

  • Allegheny County | Hydrogen | Industrywide Issues | LDCs | Pennsylvania

    Pittsburgh Utilities Experiment with Hydrogen Blend for Customers

    May 31, 2023May 31, 2023

    We have nothing against using hydrogen as an energy source, other than it will never be able to power your home (see Why 100% Hydrogen Will Never Power Your Home; Why Antis Hate H2). But physics isn’t stopping a couple of utility companies in the Pittsburgh area from trying. NiSource, the parent company of Columbia Gas of Pennsylvania, and Peoples Natural Gas are working on experiments to introduce hydrogen into existing pipelines and use the blend in existing furnaces and gas stoves.
    Read More “Pittsburgh Utilities Experiment with Hydrogen Blend for Customers”

  • Antero Resources | Chesapeake Energy | CNX Resources | Coterra Energy (Cabot O&G) | Energy Companies | EQT Corp | Gulfport Energy | Range Resources Corp | Seneca Resources | Southwestern Energy

    M-U Earnings Down 50% from 2022 Due to Low Price of NatGas

    May 31, 2023May 31, 2023

    It’s been a wild ride for shale energy companies from the beginning of the shale revolution around 20 years ago. Here in the Marcellus/Utica, the very first Marcellus well was sunk by Range Resources in 2004. Until a few years ago, most shale drillers were not profitable, eating through investors’ money like candy. Just before the beginning of the pandemic, shale drillers got the “free cash flow” religion and began to pull back on new drilling in favor of profitability for shareholders. The pandemic, followed by Russia’s war against Ukraine, added new market gyrations. Bottom line: Last year, shale oil and gas drillers saw historic revenues and profitability. This year, the bottom is dropping out once again…
    Read More “M-U Earnings Down 50% from 2022 Due to Low Price of NatGas”

  • MUI

    MDN Upstream Index (MUI) – May 31, 2023

    May 31, 2023May 31, 2023

    The most recent day of active trading was Tue., May 30, 2023. The numbers below reflect yesterday’s closing numbers.


    Read More “MDN Upstream Index (MUI) – May 31, 2023”

  • Best of the Rest

    Other Stories of Interest: Wed, May 31, 2023

    May 31, 2023May 31, 2023

    OTHER U.S. REGIONS: Six natural gas units installed at Martin Drake Plant; NATIONAL: Oil plummets as physical market shows copious supplies; The $200 billion electric school bus bust; 150 ways Biden & Dems have made it harder to produce oil & gas; INTERNATIONAL: Plunging LNG prices have traders bracing for US export cancellations; Poorer nations snap up cheap LNG in economic boost.
    Read More “Other Stories of Interest: Wed, May 31, 2023”

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