Ares Mgmt Buys Blackstone’s Entire 32.4% Stake in Rover Pipeline
The Rover Pipeline is a 711-mile, $6.3 billion natural gas transmission pipeline operated by Energy Transfer, transporting up to 3.25 billion cubic feet per day (Bcf/d) of Marcellus and Utica Shale gas. It connects supply areas in West Virginia, Pennsylvania, and Ohio to markets in the Midwest, Great Lakes, and Canada. As of April 29, 2026, Blackstone (via its Energy Transition Partners funds) has sold its entire 32.4% ownership stake in Rover to Ares Management. Blackstone originally acquired its ownership stake in 2017 to fund the construction of the pipeline. Read More “Ares Mgmt Buys Blackstone’s Entire 32.4% Stake in Rover Pipeline”
Just yesterday, MDN told you that three left-wing judges from the 4th Circuit (“Circus”) who hate the Mountain Valley Pipeline (MVP) were back at it, badmouthing an extension of MVP into North Carolina, called Southgate (see 
We’ve been tracking a story that we consider an ongoing tragedy for more than a decade. American Water Management Services (AWMS) owns a wastewater injection well in Trumbull County, Ohio, that supposedly caused a low-level earthquake (that nobody could feel) in 2014. Actually, there are two injection wells located at the site, both operated by AWMS. They were both “temporarily” shut down by the Ohio Department of Natural Resources (ODNR) following the quake nobody could feel (see 
Although Pennsylvania Governor Josh Shapiro (J.S.) has just hired a lapdog to attack the PJM Interconnection grid as part of his campaign for president (see 
New York’s electric grid faces its lowest reliability margins in recent history this summer, with only 417 MW available under baseline conditions, according to the New York Independent System Operator (NYISO). This critical situation stems from extreme weather, an aging generation fleet, and a lack of new dispatchable resources. NYISO’s annual Summer Reliability Assessment (copy below) says an extended heat wave of three days or more, with temperatures around 95 degrees, could result in a capacity deficit of -1,679 MW, increasing to -3,370 MW at 98 degrees, potentially leading to blackouts. NYISO can implement emergency measures like purchasing energy or voluntary curtailment to mitigate shortfalls, but the overall margin for error is extremely narrow. 
Following the February 28 closure of the Strait of Hormuz, global and U.S. natural gas prices have sharply diverged. The shutdown halted roughly 20% of global LNG supplies, primarily from Qatar, forcing Asian and European buyers to scramble for replacement cargoes. Consequently, European TTF and Asian JKM benchmark prices surged 35% ($14.80/MMBtu) and 51% ($16.02/MMBtu), respectively. In stark contrast, U.S. Henry Hub prices fell 9%. Because U.S. LNG export terminals are already operating at near-maximum capacity, producers cannot significantly increase exports to capture these high global prices. This leaves ample gas domestically, insulating the U.S. market from international price volatility. 
In February, MDN brought you the big news that Devon Energy is buying out and merging with Coterra Energy, paying $21.4 billion in Devon stock (see 
Last May, MDN brought you the news that the Ohio Department of Natural Resources (ODNR) was laying the blame for a series of low-level earthquakes in southeastern Ohio on fracking at a shale well in Noble County (see 
This is really big news. Yesterday, we spotted an article in the Financial Times that the Abu Dhabi National Oil Company (ADNOC), which is the state-owned oil company of the United Arab Emirates (UAE), is planning to invest “tens of billions of dollars” to build a natural gas business in the U.S., as it accelerates efforts to diversify, as the Iran war disrupts the energy industry. We’re glad we held on to that story and kept it for today, because on the heels of that story, another, bigger one broke: The UAE is resigning from OPEC and OPEC+ as of Friday, May 1. That’s huge! 
In March, Hull Street Energy (HSE) entered an agreement to acquire two peaking power plants from Rockland Capital, LP, significantly expanding its Milepost Power portfolio (see 
Once again, Pennsylvania Governor Josh Shapiro is attacking the energy industry, this time setting his sights on utility companies that he falsely claims are “unfairly increasing their rates and needlessly raising costs for Pennsylvanians.” Shapiro has hired a radical National Resources Defense Council (NRDC) attorney to serve as his lapdog (Special Counsel for Energy Affordability) to attack utility companies, forcing them into bankruptcy, particularly by pressuring them to use unreliable renewables instead of cheaper fossil fuels. 
In February 2024, members of the South Carolina Public Service Commission approved a proposed project to build a 1,020-megawatt (MW) gas-fired power plant in the state’s Lowcountry, in Colleton County (see 
Twenty-three state attorneys general are demanding explanations from the top ratings agencies, Fitch, Moody’s, and S&P, regarding “ESG-driven” downgrades of fossil-fuel companies. They allege the agencies promote a radical climate agenda, weaponizing credit ratings with flawed methodologies to push woke ideology and UN-backed net-zero goals, rather than providing objective financial analysis. The AGs contend these downgrades contradict stated methodologies, reveal conflicts of interest arising from pledges to integrate ESG, and penalize American energy while potentially favoring entities such as Chinese-owned companies.