TGP Launches Open Season to Flow More M-U Molecules South
Add another name to the growing list of pipeline projects chasing Northeast Marcellus/Utica gas: Tennessee Gas Pipeline (TGP), a Kinder Morgan subsidiary, launched a non-binding open season on July 13 for its proposed 219 South Project. The idea is to grab gas from as far north as TGP’s Station 219 Pool in Pennsylvania (Zone 4) and move it south through Ohio, West Virginia, Kentucky, and Tennessee — up to 530,000 Dth/d (that’s dekatherms per day, roughly equivalent to 530 Mcf/d). TGP says demand along its “200 Line,” the backbone connecting Pennsylvania to Tennessee, is growing fast enough to justify testing shipper appetite now. If it goes forward, in-service is targeted for December 1, 2029. The open season runs through August 13. Below are the key details, straight from TGP’s posting. Read More “TGP Launches Open Season to Flow More M-U Molecules South”
Well, this isn’t what we expected. Bloomberg reported Friday, citing unnamed people “familiar with the matter,” that Devon Energy is exploring a sale of two of its shale positions — the Eagle Ford in South Texas and the Powder River Basin in Wyoming — that together could bring in more than $4 billion. Devon plans to announce a formal strategic review of the two packages when it releases second-quarter results in early August (the release is scheduled for Tuesday, Aug. 4, with the analyst call the next morning). Nothing is final. The timing could slip, and Devon could decide to keep both. Just two weeks ago we told you activist investor Kimmeridge is beating on Devon for moving too slowly on divestitures following the Coterra merger (see 
In March, we brought you the news that a Connecticut Superior Court judge tossed a lawsuit filed by Big Green group Save the Sound and the colluding Town of Brookfield, telling them their attempt to stop the state Department of Energy and Environmental Protection (DEEP) from ruling on the Iroquois compressor permit was premature (see 
Texas Gas Transmission, LLC, a subsidiary of Boardwalk Pipelines, LP, wants to build the Dearborn County Lateral Project — roughly 12 miles of new 20-inch natural gas pipeline that begins at Texas Gas’s existing system in Dearborn County, Indiana, dips south across the Ohio River into Boone County, Kentucky, then hops back over the river into Hamilton County, Ohio. The destination is Vistra Corp.’s Miami Fort Power Plant, a coal-fired station slated for shutdown until someone had the good sense to convert it to natural gas instead. The lateral would move 265,000 dekatherms per day (Dth/d) of firm transportation service. A dekatherm is roughly one thousand cubic feet of gas, so call it about 265 MMcf/d (million cubic feet per day). Texas Gas filed with FERC in late May. Boone County leaders are not thrilled. 
U.S. drillers last week cut the number of rigs operating for the first time in six weeks, according to the venerable Baker Hughes rig count on Friday. The national count dropped by one to 587. Even though the count slipped from its 1+ year high, the current number is still 45 higher than this time last year (an 8% increase). The Marcellus/Utica count hasn’t budged for 11 weeks in a row, holding at a combined 36. However, the M-U’s chief competitor for resources and attention, the Haynesville, added one rig and now operates 56 gas-focused rigs, which is 20 more than we operate here in the M-U. Not so long ago, the M-U operated more than the Haynesville! 
OTHER U.S. REGIONS: Indiana and Virginia encourage a speedy way to meet rising energy demand; NATIONAL: U.S. natural gas futures settle lower; Despite activist “coup”, NAS admits climate attribution has “significant challenges”; Senate Energy & Natural Resources Committee holds FERC oversight hearing; INTERNATIONAL: Brent pulls back from $100; Overseas buyers in hot pursuit of USA crude; Lull in fighting as Iran holds Hormuz talks with Oman; Europe faces winter gas reckoning as global fight for LNG brews.