Dominion Cancels Atlantic Coast Pipe, Sells Pipe Biz for $9.7B
Dominion Energy has decided to exit the natural gas pipeline and storage business, selling off its vast network of pipelines in the Marcellus/Utica (and beyond) to Warren Buffett’s Berkshire Hathaway for $9.7 billion ($4 billion in cash, the rest in assumed debt). In a related announcement, Dominion said it is throwing in the towel and canceling the 600-mile Atlantic Coast Pipeline (ACP) project that would have stretched from West Virginia to North Carolina. We are in grieving. This is a tremendously sad day–not only for Marcellus/Utica drillers and landowners, but for the families of pipeline workers who will now remain out of high-paying jobs. You have the Sierra Club and other radicalized green groups to thank.
Read More “Dominion Cancels Atlantic Coast Pipe, Sells Pipe Biz for $9.7B”
On Sunday a week ago (June 28) Chesapeake Energy filed for bankruptcy (see 
In 2016 MDN told you about the Holleran family who didn’t want the much-needed Constitution Pipeline to cross their land in Susquehanna County, PA (see 
It’s such a breath of fresh air (and so rare) when we spot actual, in-the-field, real science being done. So many times the “studies” we see published are nothing more than rehashed interpretations, speculation, and outright fabrications parading as scientific inquiry. We spotted a new study published just yesterday in the journal MDPI Atmosphere by researchers with the U.S. Dept. of Energy’s National Energy Technology Laboratory (NETL) in Pittsburgh. In 2019 researchers flew specially outfitted drones with methane sniffers over 73 kilometers (45 miles) of Utica Shale gathering pipelines and associated infrastructure. Know what they found? There were ZERO methane leaks from the pipelines.
Radical greens continue to agitate and protest against a tiny 140-megawatt natural gas-fired electric plant for NJ Transit in Kearny, NJ. A group of radical greens (along with leftist politicians they have coopted) will stage a “rally” this afternoon to try and pressure NJ’s lefty governor, Phil Murphy, into finding a way to block the project.
Just prior to the 4th of July anniversary last week, a group of patriotic Americans signed what is being billed the Declaration of Energy Independence. Top federal, state, and local political leaders lent their signatures to a document that sticks up for fossil fuels and opposes the nuttery and flummery vomited out by the likes of Alexandria Ocasio-Cortez.
For the past few months, MDN has followed the 
Earlier this week MDN brought you the news that Chesapeake Energy is asking a bankruptcy court in Texas for permission to break valid and legal contracts with several pipeline companies as part of its financial reorganization plan (see 
Enverus (formerly called Drillinginfo) has just released a summary of its Q2 2020 U.S. upstream M&A report. The update shows upstream (drilling) deals staged a small recovery to $2.6 billion from only $770 million during Q1. However, Q2 still ranks as the third-lowest quarterly value since 2009. Of particular interest for us is that of the top five M&A deals done in Q2, three of them happened in the Marcellus/Utica.
The mafia, in the person of Andrew Cuomo, has taken over in New York State. The state is now officially, completely, dark and corrupt. We offer into evidence two recent actions to support our view. One is that two major Upstate utility companies, both owned by the Spanish-based Iberdrola, have agreed to stop advertising their natural gas service and won’t build any new gas delivery pipelines in a bid to discourage new gas customers from signing up. The companies have voluntarily agreed to cap their own businesses and revenues–to harm their investors–at the demand of Lord Cuomo. The second action is the state Siting Board has ruled they will NOT consider the negative impact on property values when approving huge wind and solar farms.
Yesterday the U.S. Court of Appeals for the District of Columbia (DC Circuit) handed down a decision that was expected, but sad nonetheless. The court told the Federal Energy Regulatory Commission (FERC) it can no longer use “tolling orders” to stretch out the time to respond to a “rehearing” request when a FERC decision has been challenged. It sounds complicated. The simple version is FERC no longer has the ability to prevent anti-fossil fuel Big Green groups (with loads of money) from challenging each and every pipeline decision FERC makes in court, tying up those decisions for years at a time. Antis now have free rein to game the system and shut down new pipelines from getting built.
In April 2019 President Trump issued an Executive Order instructing the U.S. Dept. of Energy (DOE) to assess opportunities to promote growth in the Appalachian region. Yesterday a report was released by DOE doing just that. The 75-page report is titled “The Appalachian Energy and Petrochemical Renaissance: An Examination of Economic Progress and Opportunities” (full copy below). The report not only outlines petchem opportunities in the Marcellus/Utica, it makes recommendations to put those opportunities on steroids.
Once again agitators who pretend to care about the environment and about people (they care about neither) from Big Green groups like Chesapeake Climate Action Network and the Sierra Club, say a tiny pipeline project in northeastern Virginia is racist and should not get built. On Monday we told you the Virginia State Corporation Commission will not (yet) approve Virginia Natural Gas’ (VNG) Header Improvement Project, a project to build 24 miles of new pipeline and two new compressor stations (expanding a third compressor) to connect to the mighty Transco pipeline system to flow Marcellus/Utica gas to the northeast Va. region (see 
The fallout continues over a totally fake/manufactured “report” issued by Pennsylvania Attorney General Josh Shapiro last week bashing the shale industry (see 
We meant to bring you this column a few days ago when we first noticed it, but other more pressing news pushed it down the list. Michael Shellenberger is a Time Magazine “Hero of the Environment,” Green Book Award Winner, and (now) author of a brand new book titled “
The media spin machine and anti-fossil fuelers are in overdrive, but they can’t paper over this fact: Yesterday the U.S. Supreme Court expressed a very loud and clear interest in hearing the PennEast Pipeline vs. New Jersey case–and that spells bad news for NJ and its radical Attorney General who is trying to block the pipeline from entering the state.