DTE Energy has been a long-time pipeline builder and operator in the Marcellus/Utica region. DTE, based in Detroit, is both a utility company and a midstream/pipeline company. According to an in-depth Forbes article (quoting Bloomberg), DTE is “exploring options” to either sell or spin-off its natural gas pipeline assets, including those in the M-U.
Read More “DTE Energy Explores Sale or Spin-Off of Pipeline Business”
Over the years we’ve written about pipeline systems being built or expanded and upgraded to carry Marcellus/Utica natural gas to other regions, including as far away as the Gulf Coast, where the gas either gets used in petrochemical plants or (more commonly nowadays), gets exported as LNG. We now have some estimates for just how much of the 33+ Bcf/d (billion cubic feet per day) of our gas goes to the Gulf Coast.
Read More “How Much M-U Gas Flows to the Gulf Coast Each Day? We Have Answer”
The Federal Energy Regulatory Commission (FERC) would like the U.S. Supreme Court to weigh in on whether it (FERC) or the bankruptcy courts have the final say in whether or not drillers can wiggle out of long-term pipeline contracts by declaring bankruptcy. Chesapeake Energy is trying to do so now, attempting to shed several contracts including some in the M-U region (see FERC Sides with Energy Transfer Against Chesapeake re Pipe Contract).
Read More “FERC Wants U.S. Supreme Court to Rule on Pipes & Bankruptcies”
Strange times. It’s not the kind of thing you want to be known for typically–that your shale region will lead the way among all shale regions across the country in *reducing* production in the coming month. Yet that’s what the latest Drilling Productivity Report from the U.S. Energy Information Administration (released yesterday) shows–and most folks in the Marcellus/Utica region will be happy about it.
Read More “Marcellus/Utica Sees Biggest Decrease in Nov. NatGas Production”
In June 2019 Long Ridge Energy Terminal in Monroe County, OH (transloading facility) began to build a 485-megawatt Utica gas-fired electric plant (see Work Begins on Gas-Fired Elec Plant in Monroe County, OH). The new Utica-fired plant is supposed to be up and running in “late 2021.” But what’s this? Even before it’s built, the owners have announced they are transitioning the plant away from Utica gas to burn hydrogen instead.
Read More “OH Long Ridge Energy Power to Blend Hydrogen with Utica Gas”
In September MDN told you that Cove Point LNG had gone offline for roughly three weeks for its annual plant maintenance routine (see Cove Point LNG Down for Maintenance for Next 3 Weeks). We’re happy to report the gas has once again begun to flow to the facility.
Read More “Cove Point LNG Begins to Restart After Annual Maintenance Outage”
Late Friday the Federal Energy Regulatory Commission (FERC) granted permission to Mountain Valley Pipeline (MVP) to restart work on all but a 25-mile segment of the 92% completed project (see FERC Gives Mountain Valley Pipeline OK to Restart Construction). Until now every signal we’ve read coming from Equitrans, the builder, is that MVP will be done and online early (first quarter) next year. Is that signal now changing?
Read More “Equitrans Signals Schedule Change for Mountain Valley Pipe”
We spotted a couple of stories, one in Barron’s the other in the Wall Street Journal, about the pickup in the futures price of natural gas over the past week, and how those recent gains have led to impressive gains in the share price for Marcellus/Utica drillers. Yesterday the NYMEX Henry Hub futures price closed up 4.11% to $2.74/Mcf. The rising tide lifts all boats.
Read More “Marcellus/Utica Driller Stock Prices Trend Up with NatGas Price”
Here we go again. Just last week we told you that a New York City law firm couldn’t find enough interest to make a class action lawsuit against Cabot Oil & Gas using a sham indictment from the highly political Pennsylvania Attorney General’s office, so the law firm pulled the plug on the case (see Law Firm Withdraws Class Action Against Cabot re Securities Fraud). Another law firm is now trying the same thing…
Read More “Second Lawsuit Filed Against Cabot Claiming Securities Fraud”
In July MDN told you that frac sand company Hi-Crush, which has customers in the Marcellus/Utica, had filed for bankruptcy (see Hi-Crush, Yet Another Frac Sand Co., Files for Ch. 11 Bankruptcy. In August we shared the news that four of Hi-Crush’s top executives got $3 million in bonuses just five days before the company declared bankruptcy (see Hi-Crush Execs Get Millions in Bonuses Days Before Ch. 11 Filing). The company has just emerged from Chapter 11 with a new board and new owners.
Read More “Frac Sand Company Hi-Crush Emerges from Bankruptcy”
Donald Trump is NOT lying about Joe Biden and the words Biden has used about his desire to ban fracking *and* eliminate the use of fossil fuels. We have the video (below) showing clips from various Biden events where he unequivocally states he will ban fracking, and (in time) eliminate the use of all fossil fuels. This is Biden in his own words. So was Biden lying then? Or is he lying now?
Read More “PA, OH, WV: Watch Biden in His Own Words on Fracking, Fossil Fuels”
Each year the International Energy Agency (IEA) issues a special World Energy Outlook report. The 2020 edition was released this morning. Of course, the pandemic and energy demand destruction resulting from the pandemic is front and center in this report. The report forecasts global energy demand will drop by 5% in 2020, energy-related CO2 emissions by 7%, and energy investment by 18%. When will things turn around?
Read More “IEA World Energy Outlook 2020: The Long Road Out of COVID”
After more than a year of being on pause due to lawsuits from Big Green groups, the 92%-complete Mountain Valley Pipeline (MVP) finally has permission to resume construction in West Virginia and Virginia. Late Friday the Federal Energy Regulatory Commission (FERC) granted permission to MVP to restart work on all but a 25-mile segment. We suspect workers are back on the job even as you read this.
Read More “FERC Gives Mountain Valley Pipeline OK to Restart Construction”
Well that’s disappointing. Earlier this year Energy Solutions Consortium (ESC) asked the State of West Virginia to guarantee a $5.5 million loan for a proposed new shale gas-fired power plant planned for Brooke County which would help them secure even more funding for the project. Several weeks ago the state went one better than the original request and said it would not only guarantee the loan, it would actually make the loan (see WV Brooke County Power Plant Gets $5.5M Direct Loan from State). And now it’s all off…
Read More “ESC Suspends WV Brooke County Power Plant Project”
Anti-fossil fuelers have struck out again with another of their wild claims about pipelines poisoning the environment. Antis alleged steel pipes coated with epoxy (that had to sit in storage on location for years due to sham lawsuits by Big Green groups), are not safe. The Federal Energy Regulatory Commission (FERC) says otherwise.
Read More “FERC Says Coating on MVP Steel Pipe Safe for Humans, Environment”
Nearly a month ago sources talking to Reuters let it slip that EQT has offered $750 million for Chevron’s $6.5 billion worth of Marcellus/Utica assets (see Sources: EQT Offering $750M for Chevron’s Marcellus/Utica Assets). Since that time we’ve not heard a peep about negotiations and whether or not Chevron is seriously considering the offer. Let’s do a little speculating. What if Chevron does accept that offer? What does it mean for investors and others with a stake in the outcome?
Read More “What EQT Purchase of Chevron’s M-U Assets Means, IF it Happens”