MWCD Reinvesting $300M of Utica Shale Revenue over Next 10 Yrs
The Muskingum Watershed Conservancy District (MWCD) covers more than 8,000 square miles of rivers, reservoirs and creeks that drain into the Muskingum River. It is the largest wholly contained watershed in the state of Ohio, covering about 20% of the state. MWCD owns 54,000 acres of land. Early in the Utica Shale boom in Ohio the MWCD was scared off from participating (see Muskingum Watershed Reverses Decision to Sell Water to Drillers). But it wasn’t long before the MWCD board found their resolve and started to not only sell water for Utica fracking, they started leasing land like crazy (see Antero Pays $15K/Acre, 20% Royalties for MWCD Piedmont Lake Lease). All of those water sales and leases for drilling are now paying off for MWCD rate payers and indeed for all Ohioans…
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New condensate processing is on the way later this year from Ergon, Inc.–a company headquartered in Mississippi but with refineries and processing facilities in Ohio and West Virginia (and operations that include western Pennsylvania, Kentucky and New York). Ergon announced yesterday the company has spent over $75 million in the past two years to upgrade facilities, and continues to spend. Coming later this year is a 10,000 barrel per day condensate stabilization facility in Marietta, OH. Coming next year, the same kind of facility (also 10,000 bbl/d) in Newell, WV…
Midstream company Energy Transfer Partners (ETP) announced a major new Marcellus/Utica Shale pipeline infrastructure project yesterday that will transport up to 3.25 billion cubic feet per day of northeast shale gas to markets in the Midwest and Canada. Dubbed the Rover Pipeline Project, ETP says they already have three important (and big) customers lined up to use the new pipeline system, including Aubrey McClendon’s American Energy Partners, Antero Resources and Range Resources. A binding open season to sign up more customer begins today and runs for a month. The first leg of the new pipeline will connect PA, WV and southeast OH processing plants by crossing Ohio, following an existing pipeline route. A second leg will connect northwestern OH to Canada by slicing up through Michigan. Here’s the particulars, along with a map…