Nine Energy Trims Down, Sells Production Solutions Biz
Nine Energy Service, an oilfield services company that competes with companies like Halliburton and Baker Hughes, operates in a number of shale basins, including the Marcellus/Utica. Last October Nine bulked up by buying out Magnum Oil Tools, a “downhole technology” company (see Nine Energy Buying Magnum Oil Tools for $493M). Now Nine is slimming down by selling off its Production Solutions division (i.e. well services business) to Brigade Energy Services for $17 million. Along with the sale goes a reduction of 24% of Nine’s workforce.
Read More “Nine Energy Trims Down, Sells Production Solutions Biz”
The CME Group, formerly known as the Chicago Mercantile Exchange, is a global derivatives marketplace based in Chicago–originally founded to sell physical commodities like grain and eggs. These days CME Group offers a range of financial trading products across all major asset classes, including those based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. CME Group is in the process of launching the world’s first-ever physically-delivered LNG contract. What is that and how does that affect our region?
You can’t say we didn’t see this one coming. Last week the Federal Energy Regulatory Commission (FERC) ruled that the New York Dept. of Environmental Conservation (DEC) took too long to deny a federal Clean Water Act “Section 401” water crossing permit for the Williams Constitution Pipeline project (see 
In February, prior to the July takover by Toby and Derek Rice, EQT filed lawsuits in both Pennsylvania and federal courts against two former employees it had fired, claiming the employees, before they were fired, had systematically copied confidential information from company computers and took it with them when they left (see 
9/5/19 NOTE: ODNR’s original percentages were incorrectly calculated. A day after releasing the wrong numbers, ODNR fixed the wrong numbers in their 2Q19 update. Frankly, we should have noticed the original error, and didn’t. The raw production numbers were right there before our eyes, yet we simply relied on ODNR’s incorrect percentages and drew the wrong conclusions. See below for the corrected numbers.
A brief pause to enjoy an unqualified victory over the wackadoodles at the litigious New Jersey Chapter of the Sierra Club. Williams has just placed into service its Rivervale South to Market Project in New Jersey, now flowing enough fracked Pennsylvania Marcellus Shale gas to service an extra 1 million homes in the northeastern U.S. The Clubbers opposed the project and ultimately couldn’t do a thing to stop it.
In the American legal system those accused of wrongdoing, including those afraid of being entrapped by so-called law enforcement (like the Chester County, PA District Attorney Tom Hogan) are entitled to legal representation–to protect themselves from the abuses of people like DA Hogan. Yet when they do so, avail themselves of legal representation, Hogan gets bent out of shape. Could it be he *has no case* and wants to bully people into admitting to things they are not guilty of? Or force them to falsely testify to things the prosecutor wants to hear?
Our friends at RBN Energy recently launched a new mini-series of blog posts delving into Marcellus/Utica gas processing and fractionation in the wet gas region–meaning southwest PA, eastern OH, and the northern panhandle of WV. We previously brought you part 1 of that series (see 
