Turnaround Continues: Patterson-UTI Sept Rig Count Up 4th Mo
As we do every month, MDN tracks how many rigs oilfield services company Patterson-UTI Energy reports operating–as a proxy for when/if the drop in rig counts for the Marcellus/Utica will turn around. Patterson operates a number of rigs in the northeast, as well as other areas of the continental United States (and Canada). Month by month Paterson’s rig count has declined over the past year plus–until June (see Tide has Turned: Patterson-UTI June Rig Count Ticks Up by 2). June was the first time in over a year that Patterson’s rig count reversed and began to climb once again. In July the count went up again (see Patterson-UTI July Rig Count Goes Up for 2nd Month in Row). And wonder of wonders, the count rose again in August (see Turn Around! Patterson-UTI August Rig Count Up 3rd Mo in a Row). We were holding our breath for September. Would the count go up again? Or would the momentum stall out? The numbers are in, and Patterson reports their rig count rose by another two active rigs in September! That’s the fourth straight month of increases in the count…
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In June Dominion began building Virginia’s largest natural gas-fired electric plant in Greensville County (see 
In October of last year, MDN shared the news that Duke Energy, the largest electric power holding company in the United States and a utility with 7.3 million customers in the southeast and Midwest, announced they are buying Piedmont Natural Gas (see 
Each year MDN partners with the Oil & Gas Awards to promote their Northeast Awards–a way for companies in the industry that operate with distinction to get recognized by their peers. In March 2017 the Northeast Oil & Gas Awards will celebrate their 5th year. Over the past five years there have been thousands of entries and hundreds of finalists and winners. While the O&G Awards boys keep their ears to the ground to discover stellar performers, they want to know who YOU think are the best companies in the region. Therefore, they have put together a very brief survey (takes less than two minutes). This is your chance to bring a worthy company to the attention of the O&G Awards–perhaps even your own company!
Oilfield services company Mammoth Energy Services, headquartered in Oklahoma City, OK, operates in both the Utica Shale and Permian Basin. Mammoth offers services like “completion and production services, natural sand proppant services, contract land and directional drilling services and remote accommodation services.” Mammoth is a baby company, formed in 2014, but already booking $243 million in revenue for the 12 months ended June 30th. Mammoth announced yesterday an initial public offering (IPO) of stock, which will trade under the ticker TUSK (keeping with the theme of a woolly mammoth–clever). The company plans to raise between $128-$169 million (call it $150M) by offering 7.75 million shares. What is noteworthy is that this is one of the very few new IPOs to be offered this year in the o&g sector…
MDN spotted an announcement that says PennAg and Sunoco Logistics (building the Mariner East 2 pipeline project) have collaborated to produce a “biosecurity education module.” What the heck is that?! It’s fancy language for “here’s how you keep farm animals safe when building a pipeline.” Building a pipeline is no easy thing. It starts with surveyors entering a property to map out a route–traipsing around the land, sticking markers in the ground. Eventually bulldozers, backhoes and truckloads of pipe show up. Then welders show up to stitch it together. Then it gets covered up, and later landscapers come along to replant, reseed, and re-whatever to restore the land to its former glory. With all of those people and equipment entering and exiting a property–particularly a farm–there’s an increased chance they will track something, or perhaps do something, that ends up being harmful to the livestock living on that land. So-called “biosecurity” is the name given to keeping the living things safe and free from harm from the people building (in this case) a pipeline. Sunoco has teamed up with PennAg Industries, a PA non-profit that promotes agriculture in the Keystone State, to make sure nothing bad happens when their workers show up at the farm. They’re creating an online course and making it available to anyone and everyone…
Last week MDN brought you the news that DTE Energy, a BIG utility and midstream company based in Detroit, MI, is buying 100% of M3 Midstream’s Appalachia Gathering System (AGS), located in Pennsylvania and West Virginia, and 40% of M3’s Stonewall Gas Gathering (SGG), located in West Virginia (see 
It’s always drama with Williams. Nearly half of the Williams board (6 of 14 board members) were part of a cabal that tried to force the company to sell itself to Energy Transfer Equity–a deal that went horribly wrong. Following the aborted merger, six of Williams’ board members tried to engineer a palace coup to depose current CEO Alan Armstrong. The coup failed and the board members quit in July (see 
Every now and again pipeline companies hand out grants to local worthy organizations, like fire departments and schools. PennEast Pipeline is one such organization. Christmas has come early to another group of non-profits. PennEast has just handed out $5,000 each to more than a dozen organizations (see the list below). All told, PennEast had distributed more than $400,000 to local organizations through its “Community Connector Grant” program…