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Sunoco Logistics, Regency Energy Presentations from Analyst Day
Last week both Regency Energy Partners, which purchased PVR Partners a little over a year ago (PVR having a major footprint in the Marcellus/Utica), along with Sunoco Logistics, another major midstream player in the northeast, participated in an analyst day last week at Ritz-Carlton in Dallas. While we don’t have a transcript, we do have the PowerPoint slide decks from both companies. And what we find on some of those slides is illuminating…
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On Monday, MDN highlighted a pair of stories from West Virginia in which we noted that Cabot Oil & Gas, a Texas-based company that (so far) has concentrated its Marcellus Shale drilling in Susquehanna County, PA, had drilled and plugged a well in West Virginia that seems to be aimed at the Utica Shale (and/or Marcellus) in that state (see 
Last week West Virginia Gov. Earl Ray Tomblin led a trade delegation on a junket to Brazil to talk with officials from Odebrecht and Braskem about the $3 billion proposed ethane cracker plant/petrochemical complex the companies are planning for Parkersburg, WV (see 
Several years ago MDN editor Jim Willis took a tour of several Cabot Oil & Gas well sites in Susquehanna County, PA. One of the sites was a completed well pad with four producing wells, located not far from Carter Road in Dimock (yes the infamous Carter Road memorialized in Gasland). As we stood on the pad, a pad not visible a few hundred feet from the road, Jim’s tour guide (Bill desRosiers) made this statement: “Cabot has over 3,000 vertical gas wells in West Virginia. You see these four horizontal wells? These four wells produce more natural gas in one day than all 3,000 of those vertical wells in West Virginia.” Jim’s jaw hit the ground. He immediately thought (still thinks): That is the power and miracle of horizontal hydraulic fracturing! So it sparked our interest when we spotted a story from Wood County, WV about a well drilled by Cabot this past August in WV–a well that Cabot immediately plugged. It was a “miss” for Cabot. Our questions: Was it a vertical-only well? Or was it intended to be a horizontal Utica well?…
We have some more details about that lease deal for $100 million by Tug Hill Operating to lease land in Marshall and Ohio counties in the northern panhandle of West Virginia that we wrote about yesterday (see 
We have some information, but not a lot, on a recent deal to lease land in Marshall and Ohio counties in West Virginia. Tug Hill Operating, a small, privately owned exploration & production company headquartered in Fort Worth, TX, has just brokered a deal with the Marshall and Ohio County Landgroup. We don’t know how many acres are involved in the lease, nor how many families. What we do know is that the money Tug Hill is paying the landowners, collectively, is an eye-popping $100 million. We don’t have a copy of the lease, but we have little doubt that both Marcellus and Utica layers are part of the deal. Here’s what we do know about Tug Hill and the deal:
The mother’s milk of academe is grant money–and West Virginia University is happy to announce a new grant related to the Marcellus Shale. The U.S. Dept. of Energy is forking over $11 million to WVU and Ohio State University for a five-year project to study “baseline measurements, subsurface development and environmental monitoring” in the Marcellus and Utica Shale. The money will be used for research and to establish a first-of-its-kind Marcellus Shale Energy and Environment Laboratory–a field site and dedicated research laboratory to be located at the Morgantown (WV) Industrial Park…
Yesterday’s election was, by all accounts, historic. It was a complete and utter repudiation of Barack H. Obama and his aggressive socialist policies–there’s no denying that. Republicans picked up governorships in most states where they ran. The one cloud was, unfortunately, Pennsylvania where California environmentalist wacko Tom Steyer’s $10 million+ purchased the governorship for the hapless Democrat Tom Wolf. One bright spot in PA (we challenge you to find this news in your local newspaper today) is that Republicans picked up MORE seats in both the PA House and Senate. Which means unless Republicans cave, there will be no severance tax to shut down Marcellus drilling in the Keystone State–at least for the next few years. Whew. In New York, Republicans (beyond all belief) held on and improved their majority in the Senate. The NY Senate is the only firewall against legislative action to permanently stop fracking in the Empire State. Whew. And what’s this, New England moves Republican???…