Marcellus Drilling News

Accidents | Energy Services | Industrywide Issues | Kinder Morgan | Pipelines | Tennessee Gas Pipeline

TGP Compressor Station Explosion, Fire in TN Causes Force Majeure
August 21, 2023August 21, 2023

Tennessee Gas Pipeline (TGP) experienced an explosion and fire at Compressor Station 860 near Centerville (Hickman County), TN, last Friday around 8:30 a.m. The location is about 60 miles southwest of Nashville. The explosion blew out the upper tier of the walls of the building. One employee experienced a medical emergency not directly related to the blast and was taken to an area hospital. That employee has since been discharged. The six on-site employees during the incident are okay and accounted for. A one-mile evacuation was ordered but lifted later in the day on Friday.
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Chesapeake Energy | Energy Companies

Chesapeake Energy Stock Joins S&P MidCap 400 Index as of Today
August 21, 2023August 21, 2023

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Chesapeake Energy’s stock (CHK) is getting an upgrade–at least in reputation and stature. Beginning today, CHK will join the S&P MidCap 400 stock index, replacing Mercury Systems Inc. (MRCY). The announcement was made last Wednesday after the close of the financial markets. Traders liked the news and immediately bid up shares of CHK in after-market trading. Chessy’s stock price is up 3.5% over the past five days. It seems the company has finally gotten its fiscal house in order after years of mountainous debt that led to bankruptcy in June of 2020 (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership).
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Crude Oil | Industrywide Issues | Ohio | Pennsylvania | Research | Statewide OH | Statewide PA | Statewide WV | West Virginia

Uglier…U.S. Rig Count Drops Another 12 Rigs, M-U Drops 3 More Rigs
August 21, 2023August 21, 2023

It’s getting even uglier out there. For the sixth week in a row and the 15th of the last 16 weeks, the U.S. active rig count lost rigs. A lot of rigs. Last week the number decreased by a whopping 12 rigs after falling by five rigs per week for the three weeks prior. The total is now down to 642 active rigs across both oil and gas. Sadly, the Marcellus/Utica dropped three rigs last week (after losing two the week before) for a combined M-U rig count of 40–the lowest this year. Last week Pennsylvania picked up two rigs after losing two the week before, but the additions in PA came at the expense of Ohio (lost 2 rigs) and West Virginia (lost 3 rigs).
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Electrical Generation | Industrywide Issues

CPV Brings 1,200 MW M-U-Fired Power Plant Online in Northern IL
August 21, 2023August 21, 2023

In August 2020, MDN brought you the news that Competitive Power Ventures (CPV) wanted to build a state-of-the-art 1,250-megawatt natural-gas-fueled, combined-cycle electric generation facility in Grundy County, Illinois (see CPV Gets Funding, Begins Building Big M-U-Fired Power Plant in IL). Three Rivers Energy Center, which would cost $1.2 billion to build, would sell its power into the PJM market–enough to meet the demand of up to 1.25 million homes and businesses serving Northern Illinois, including Chicago. We lost track of progress on the plant until we spotted this terrific news: Three Rivers is now built and has just entered commercial operation!
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Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Regulation | Research | Statewide PA

Gov. Shapiro Plans to Use Fake Pitt Studies to Push BIG Setbacks
August 21, 2023September 11, 2023

This is so frustrating. Last week, the University of Pittsburgh (Pitt) issued fake research reports that supposedly link proximity to shale wells with a minuscule (less than one-tenth of one percent) rise in one type of childhood cancer (see Pitt Releases Fake Research, Claims PA Fracking Linked to Kid Cancer). The so-called research has been destroyed by rational analysis and the fact the data used by Pitt was garbage to begin with (see EID, MSC Destroy Pitt Fake Study Tying Fracking to Cancer in Kids). However, the state Dept. of Environmental Protection (DEP) is now relying on that erroneous research, using it as an excuse to jack up setbacks–the amount of distance from a new well and nearby structures like homes, businesses, and schools.
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Anti-Drilling/Fossil Fuel | Hydrogen | Industrywide Issues | Statewide WV | West Virginia

Irrational Antis Attack New New Carbon Capture Project in WV
August 21, 2023August 21, 2023

Last week we told you about a new $2 billion hydrogen project coming to West Virginia (see $2B Hydrogen Project Announces for WV – FidelisH2 in Mason Co.). We also told you the project would produce hydrogen with “zero lifecycle carbon emissions” from a combination of Marcellus/Utica gas, renewable energy, and storing captured carbon underground (see WV Hydrogen Project to Generate Rev. of $105M/Yr, Incl. Pore Rights). The plan is to pay a royalty to WV to store carbon dioxide underneath state-owned land using pore space. By the end of the week, irrational anti-fossil fuelers were trying to pour water on the pore space plan.
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Best of the Rest

Other Stories of Interest: Mon, Aug 21, 2023
August 21, 2023August 21, 2023

MARCELLUS/UTICA REGION: Congressman tours gas sites, meets with employees in Sayre; Gas and oil operators talk innovation at annual summer meeting; OTHER U.S. REGIONS: Energy Transfer seeks new LNG export license after extension denied; NATIONAL: Electric vehicles run on natural gas; INTERNATIONAL: A progressive’s case for getting rid of ‘ESG’; Is oil and gas in a jobseeker or jobgiver market right now?; European natgas prices jump as Australia LNG workers poised to strike.
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