NiSource Splits in Two: Columbia Pipeline Will be Separate Company
NiSource is a very big public utility company (electric & gas) serving 3.8 million customers from the Gulf Coast through the Midwest to New England. Headquartered in Indiana, NiSource is also the parent of Columbia Gas, which owns extensive pipelines and recently announced they would build another two new pipelines in the Marcellus region (see Columbia Gas: $1.75B for 2 Projects to Send Marcellus Gas to Gulf). NiSource has decided and in an unusual move announced yesterday (Sunday) that they are splitting the company in two. NiSource the utility will remain focused on being a utility, and Columbia Gas will be spun off into it’s own company called Columbia Pipeline Group (CPG) under a master limited partnership (MLP) structure. MLPs issue “units” instead of shares of stock–although functionally they are about the same thing. Here’s the details from NiSource…
Read More “NiSource Splits in Two: Columbia Pipeline Will be Separate Company”
Last Thursday, Precision Pipeline of Waynesburg, Pa was drilling under the Little Mingo Creek behind the Mingo Creek Church on behalf of Sunoco Logistics when the drill bit hit something really solid. It stopped the bit and led to drilling mud, often called bentonite, to leak into the the Little Mingo Creek causing a gray “sludge” to travel down the creek in Nottingham and Union townships (Washington County), PA. Bentonite is non-toxic and used in products from shampoo to deodorant and toothpaste. It’s also used to lubricate the drill bit and carry drill cuttings out of the ground. While non-toxic, a whole lot of bentonite in the water can, of course, suffocate fish and cause problems for wildlife that happen to drink it…