Is Cabot O&G Sniffing Around Chesapeake Energy’s Shale Assets?

A warning right up front: This post is speculation and rumor. As you know if you’ve read MDN (or any other media source covering oil and gas in the past two weeks), on June 28 Chesapeake Energy filed for Chapter 11 bankruptcy (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership). With something like $11 billion in outstanding debt and a market value of just over $100 million (a tiny fraction of the debt), it’s obvious debtors will take over the company. What happens then? We spotted a rumor that Cabot Oil & Gas may be interested in a purchase.
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Revisiting the PA AG Royalty Case Against Chesapeake Energy

It’s time to revisit a long-festering royalty lawsuit against Chesapeake Energy and Anadarko Petroleum filed by the Pennsylvania Attorney General’s office. The case has been through several layers of courts and finally ended up at the PA Supreme Court last fall (see PA Supremes to Consider Long-Running Chesapeake Royalty Lawsuit). The lawsuit hinges on the answer to this question: Are landowners/royalty owners the buyers or the sellers in cases of royalty leases?
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PennFuture Wages War Against Fossil Fuel Jobs in PA re HB 1100

Last week we brought you the rumor that a bill to allow incentives for petrochemical plants willing to build new facilities in Pennsylvania (generating hundreds of jobs and hundreds of millions of investment in the state) appears to be back on after the bill was vetoed by Gov. Tom Wolf earlier this year (see Bill to Bring Cracker-Type Investment to Northeast PA Resurrected). The radicals at PennFuture, a profoundly partisan/leftist organization fueled with Big Green donations, is raising the alarm that House Bill (HB) 1100 is back on and that Wolf is ready to sign a revised version.
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Leftist “Investors” Demand PA DEP Clamp Down on Methane Leaks

Last December the Pennsylvania Dept. of Environmental Protection’s (DEP) Environmental Quality Board approved onerous new regulations that supposedly will capture every last molecule of stray methane that leaks from shale drilling operations (see PA DEP Goes WAY Too Far in Approving New Methane Regulations). The new regs are unnecessary and will shut down even more shale drilling operations in the state. Perhaps sensing the DEP is wavering on adopting these nonsense regs, a group of woke lefty investors representing trillions of investment dollars are pressuring the DEP to get the new regs live. More leftist bullying.
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Bill to Bring Cracker-Type Investment to Northeast PA Resurrected

In April 2019, Pennsylvania State Rep. Mike Turzai, Speaker of the House (who has since resigned and left), along with a group of conservative Republicans, announced a plan for the future of PA (see PA Republicans Launch “Energize PA” to Counter Wolf’s “Restore PA”). Called Energize PA, the plan as codified in eight bills would “make it easier for companies to get environmental permits, encourage development on abandoned industrial sites, and make it cheaper to run natural gas lines to businesses.” One of the eight bills is House Bill (HB) 1100, a bill offering a tax incentive, a reduction in taxes, IF a company builds a new petrochemical plant in the state–particularly in the northeast “dry gas” area of the state.
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Huge Bipartisan Majority in PA House Votes to Block Carbon Tax

Yesterday the Pennsylvania House of Representatives voted 130 to 71 (with overwhelming bipartisan support) to pass House Bill (HB) 2025 which would block Gov. Wolf’s attempt to force PA into a northeast carbon tax scheme. We’ve written plenty about Wolf’s plan to force the state to join the Regional Greenhouse Gas Initiative, or RGGI (see Gov. Wolf Goes Bonkers: EO Destroying Gas-Fired Elec, Carbon Tax).
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PA DEP Teases Fake Report Claiming Carbon Tax Saves Lives & Money

Shame on Pennsylvania Dept. of Environmental Protection (DEP) Secretary Pat McDonnell for prostituting himself to Gov. Tom Wolf by teasing a forthcoming “report” that says by enacting a jobs-killing carbon tax in the state it will generate 27,000 new jobs, add $1.9 billion to the PA economy, and even save lives. (Maybe the carbon tax can part the Red Sea too?) These are outrageous lies. Perhaps McDonnell should have resigned if Wolf was pressuring him to lie like that. Better to resign with dignity than damage your reputation for becoming known as a paid liar.
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Northeast Natural Energy Settles $7.9M Lawsuit with PA Landowners

Last November MDN told you that Northeast Natural Energy, a small-to-midsized driller headquartered in Morgantown, WV, had lost an arbitration battle and owed a group of landowners in central Pennsylvania $7.9 million in payments for NOT drilling on their land (see Fed Judge: Northeast Natural Energy Owes $7.9M to PA Landowners). NNE continued to fight the arbitrated settlement–until Monday. Apparently both sides have agreed on a new settlement.
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PA Nuke Industry Loves Wolf Carbon Tax Shutting Down Gas Plants

Are you surprised that Pennsylvania’s big money nuclear power lobby loves PA Gov. Tom Wolf’s plan to tax nuke plants’ biggest competitor, natural gas-fired plants, out of existence? We aren’t surprised. Nuclear Powers Pennsylvania, lobbying group for PA’s nuclear power plants, is urging PA legislators to drop a bill that will block Wolf’s insane attempt at forcing the state to join a group of liberal northeastern states in something called the Regional Greenhouse Gas Initiative (RGGI). RGGI forces its members to slap high taxes on energy that produces carbon dioxide–the stuff you breathe out with every single breath you take. Ludicrous.
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PA Sen. Daylin Leach (Democrat) Introduces Bill to Ban Fracking

PA Sen. Daylin Leach

Incest. It’s a dirty word. It sometimes applies to the world of politics. The word “incest” aptly describes what’s happening in Pennsylvania with Democrat Attorney General Josh Shapiro’s false/fake/ginned-up report bashing shale fracking and the predictable response from his fellow leftist Democrats, including PA Sen. Daylin Leach who introduced a bill to ban fracking across PA using Shapiro’s fake grand jury report as the basis to do so. Political incest.
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Northeast PA Landowner Settles with Williams for Big Bucks

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 Maple Syrup Farm in Path of PA Pipeline, Antis Make Most of It). Hollywood actor James Cromwell and other anti-drillers heard about it and visited to add their shrill voices to the protest (see Actor James Cromwell Admits He’s Clueless, Fights Pipeline Anyway). The protesters tried to stop Williams from clearing trees on the property. A judge got tired of their shenanigans real quick (see Judge Tells NEPA Family to Let Williams Cut Maple Trees, Or Else).
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Marcellus Shale Coalition Debunks False Claims in PA AG Report

The fallout continues over a totally fake/manufactured “report” issued by Pennsylvania Attorney General Josh Shapiro last week bashing the shale industry (see PA AG Launches I-HATE-FRACKING Hotline; Report Bashing Shale, DEP). Mainstream media continues to repeat the false allegations made in the report, making it necessary for the shale industry to respond and debunk the report. Yesterday the Marcellus Shale Coalition (MSC) sent an open letter to every member of PA’s legislature exposing Shapiro’s false report for the piece of toilet paper it is.
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Chester DA Charges Against ME Pipe Security Chief Tossed by Judge

Former Chester County, PA District Attorney Tom Hogan (RINO), and his successor Deb Ryan (Democrat) are 100% humiliated after a Chester County Magisterial District Judge dismissed the entire case against the local head of security for Energy Transfer in what the DA’s office lyingly calls a “buy a badge scheme.” Judge John Bailey dismissed all 54 criminal counts against Frank Recknagel over his hiring of constables as off-duty security guards for the Mariner East pipeline project. The DA’s office tried to criminalize moonlighting for the pipeline.
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PA AG Sham Shale Rpt: Wolf Prevaricates, MSC Debunks, Antis Cheer

We’re still steamed about a totally fake/manufactured “report” issued by Pennsylvania Attorney General Josh Shapiro last week bashing the shale industry (see PA AG Launches I-HATE-FRACKING Hotline; Report Bashing Shale, DEP). Shapiro wants to run for governor in 2022 and trashing the shale industry gives him credibility with environmentalist wackos–an important segment of the lib Dem Party. Since the report came out there’s been wall-to-wall coverage in the lamestream press in PA. They’re almost orgasmic, believing this is somehow the death knell for shale drilling in the state. They’re DEAD wrong.
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Philly Refinery Sold – To Become Huge, Polluting Truck Terminal

In February we told you the fix is in. A bankruptcy judge in Delaware announced he would award the sale of the closed Philadelphia Energy Solutions (PES) refinery to a Chicago developer that has plans to demolish the East Coast’s largest and oldest refinery–and replace it with big, smelly, noisy warehouses with trucks coming and going day and night (see Anti-Fossil Fuel Judge Sells Philly Refinery to Chicago Developer). After a last-minute stunt by the Chicago developer (demanding a $30 million price reduction, settled for $26.5 million reduction, the deal was done last week. Welcome to even more noise and pollution than a refinery would generate.
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PA AG Launches I-HATE-FRACKING Hotline; Report Bashing Shale, DEP

Yesterday Pennsylvania’s corrupt Attorney General, Josh Shapiro (who is running for governor trying to curry favor with Big Green wackadoodles) issued a 243-page report (full copy below), the result of two years of muckraking “investigations” into the Marcellus Shale drilling industry. Shapiro announced a new hotline where people can call and complain about frackers. And he had the gall to issue his own legislative agenda to further restrict fracking! In normal, sane states prosecutors uphold laws created by the legislature (and signed by the executive). In PA, Shapiro (in the judiciary) wants to make new laws. The man is out of control and needs to be locked in a padded room for his own safety.
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