EnCap Refinances $2 Billion Investment in PennEnergy Resources
EnCap Investments has secured a $2 billion “continuation vehicle” to fuel growth at Marcellus driller PennEnergy Resources. The funding will focus on developing PennEnergy’s Marcellus Shale assets, expanding its natural gas inventory, and seizing bolt-on growth opportunities within the current favorable gas market. Essentially, EnCap has refinanced its ownership of existing PennEnergy assets. We explain what a continuation vehicle transaction is below. Read More “EnCap Refinances $2 Billion Investment in PennEnergy Resources”
The current king of U.S. data centers is Virginia. As we wrote about earlier this month, Pennsylvania has the opportunity to grab that title away from Virginia, IF PA doesn’t screw it up (see 
Proposed Ohio legislation, Senate Bill (SB) 294, seeks to redefine “clean energy” to include natural gas, a fossil fuel, and, according to lefties, a major contributor to mythical global warming. At the same time, the bill would declare renewable sources like wind and solar “unreliable.” SB 294 would compel the Ohio Power Siting Board to favor energy projects it deems both clean and reliable, effectively prioritizing natural gas power plants. The bill’s sponsors argue this leverages Ohio’s substantial shale gas reserves and provides a cleaner alternative to coal. 
Here’s a neat company we haven’t written about in 4 1/2 years: 
Kentucky has experienced rapid economic growth in recent years, similar to other southern states. Data centers are looking to Kentucky for future expansion. Last fall, Louisville Gas and Electric Company (LG&E) and Kentucky Utilities Company (KU), both part of PPL Corporation, forecasted in their Integrated Resource Plan (IRP) the need for additional power generation due to the expected influx of data centers and economic development across their service territories (see 
A new Fairleigh Dickinson University (FDU) Poll found that New Jersey voters support the construction of new natural gas power plants by a 3-to-1 margin (64% in favor), viewing them as a bridge solution to quickly lower energy prices until renewable options are ready (which will be never). Yes, in deeply blue N.J., both Republicans AND Democrats favor building more gas-fired power plants. The support is partisan, with Republicans overwhelmingly backing new construction (89%) compared to Democrats, who are less enthusiastic but still favor the plants (46% support vs. 33% oppose). 
Pennsylvania Governor Josh Shapiro oscillates between acting like an adult and a petulant child regarding rising electricity costs in his state, costs that are due in part to his own policies (see 
MARCELLUS/UTICA REGION: Pennsylvania needs every tool to meet growing energy demand; Appalachian Catholics and labour align to tackle environmental issues; OTHER U.S. REGIONS: LADWP says it will shift its largest gas power plant to hydrogen; NATIONAL: U.S. natural gas futures fall in volatile trade; Energy CEOs ‘optimistic about growth’; Bill Gates calls for climate fight to shift focus; DOE grid policy & data centers – new thinking ahead?; INTERNATIONAL: Oil rally fades on oversupply fears; Oil giants join OPEC in boosting output; European gas edges higher as traders eye fragile supply balance.