EQT Plans to Make Money with $2/Mcf NatGas Price
For years MDN has observed that Cabot Oil & Gas is one of the few Marcellus/Utica drilling companies that can “spin straw into gold”–meaning it makes money on selling natural gas even when the price of that gas is in the basement (see Marcellus Driller Cabot Oil & Gas: Wall Street’s NatGas “Unicorn”). The new management at EQT aim to turn their company in a spinning-straw-into-gold company too. In a recent interview with the Pittsburgh Business Times, EQT CEO Toby Rice said his strategy for making $500 million in “free cash flow” within two years anticipates the price of natgas to be $2 per thousand cubic feet (Mcf).
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Some 77 miles of PennEast Pipeline’s $1 billion, 120-mile primarily 36-inch underground pipeline is slated to run through Pennsylvania. The rest runs through New Jersey. In February of this year the PA Dept. of Environmental Protection (DEP) published draft versions of Erosion and Sediment Control Permits for the project. Just one teeny tiny problem: The DEP screwed up the application number in their official posting in the PA Bulletin. So the DEP has just republished their intent to issue the permits–very soon–in the latest PA Bulletin.
Last November Encino Acquisition Partners (i.e. Encino Energy) completed its purchase of all of Chesapeake Energy’s Ohio Utica Shale assets for $2 billion (see 
There’s an issue that has been building up steam for the past year or two. We’ve commented on it peripherally on a number of occasions. There’s no mistaking the newest “in thing” for young (and old) liberals is to trash the production of plastic. Plastic straws are killing little fishies in the deep blue sea. Plastic bags are filling up our landfills and endangering Mom Earth. California (land of the strange) now has its sights set on banning all plastic bottles. Radical environmentalists are now advocating that we ban the production and manufacture of all plastic products!
In 2017 a group of Ohio landowners did what others had previously done in Pennsylvania, Texas and elsewhere–they filed a proposed class action lawsuit against Chesapeake Energy claiming Chessy had screwed them and about 1,000 other Ohio landowners out of a collective $30 million in royalty payments (see 
Equitrans, builder of the 303-mile Mountain Valley Pipeline project, has voluntarily stopped construction on certain portions of the 85% completed project. According to an MVP spokesperson, “The voluntary suspension pertains to areas along the route that may potentially have an impact related to the Endangered Species Act; however, MVP expects to continue with construction, where permitted, in other areas along the route.”
Williams’ Transcontinental Gas Pipe Line Co. (Transco) filed a request yesterday with the Federal Energy Regulatory Commission (FERC) to start up the final pieces of its Rivervale South to Market Project in New Jersey. We first told you about the Rivervale project in 2017 when Williams filed an application with FERC (see 
This one slipped under the radar for a bit. At the end of June, Pittsburgh-area Falcon Drilling, a Marcellus and Utica shale drilling contractor, announced it is buying out and merging in another Pittsburgh-area drilling company, Complete Drilling Solutions. Terms of the deal were not disclosed.
Last week MDN brought you an RBN Energy article that outlines how Marcellus/Utica gas hitches a ride to the Gulf Coast to feed several LNG export facilities–specifically the newly-minted Cameron LNG export facility (see 
There is no disputing the fact that the Marcellus Shale has fundamentally changed the economic landscape for Pennsylvania–for the better. A former PA state senator and county commissioner from southeast PA recently went on a tour of shale related infrastructure in western PA and wrote an insightful editorial that outlines the case in favor of building *more* natural gas pipelines in the state.
When the anti-fossil fuel Park Foundation pays your salary, your “research” had darned well better reflect an anti-fossil fuel result. Or else the money spigot quickly gets cut off. That’s what explains the latest “study” published (in Europe, not the U.S.) by Cornell University professor Robert Howarth–a study that claims shale drilling is pumping catastrophic amounts of methane into the atmosphere making Mom Earth toast.