Northeast Natural Energy Gets $65M Investment for More Drilling
Northeast Natural Energy (NNE) is a small-to-midsized driller headquartered in Morgantown, WV. The company drilled its first shale well in 2013. NNE currently owns 49,000 acres of leases “in the heart of the Marcellus Fairway,” operating 27 Marcellus wells and over 100 conventional oil and gas wells, mainly in West Virginia (with some located in southwestern Pennsylvania). In April 2017 MDN reported that NNE had obtained $300 million of investment from two investment firms (see WV Driller Northeast Natural Energy Gets $300M Investment). This week the company announced it has received another $65 million to help fund more drilling and lease acquisitions.
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Antero Resources, one of the largest drillers in the Marcellus/Utica, working primarily in West Virginia, has just won a major sales tax case in the WV Supreme Court that affects the entire oil and gas industry, including M-U drillers.
An interesting week for permits. Last week Pennsylvania issued just 2 new shale well drilling permits after having issued 3 the week before (lowest numbers we’ve seen). Ohio, which has not issued many permits in recent months, was on fire last week with 17 new shale permits! West Virginia issued just 1 new shale well permit.
Eagle Manufacturing, located in Wellsburg, WV, was struggling in the early 2000s. The company makes plastic safety products. Foreign competition was hammering the company (tough to compete with children in China who work in factories for a dollar an hour). The company almost offshored production to China, but decided to stick it out a few more years here at home. And then the Marcellus/Utica Shale miracle happened.
Enough! How many times do we have to put up with Obama/Clinton liberal Democrat judges from the U.S. Court of Appeals for the Fourth Circuit blocking the legal and legitimate construction of Mountain Valley Pipeline (MVP)–a project which is 92% in the ground and done! Last Friday the clowns did it again for the umpteenth time–slapping a “temporary” order blocking construction because the anti-America, Russia-backed Sierra Club filed yet another frivolous lawsuit against the project.
Donald Trump is NOT lying about Joe Biden and the words Biden has used about his desire to ban fracking *and* eliminate the use of fossil fuels. We have the video (below) showing clips from various Biden events where he unequivocally states he will ban fracking, and (in time) eliminate the use of all fossil fuels. This is Biden in his own words. So was Biden lying then? Or is he lying now?
Well that’s disappointing. Earlier this year Energy Solutions Consortium (ESC) asked the State of West Virginia to guarantee a $5.5 million loan for a proposed new shale gas-fired power plant planned for Brooke County which would help them secure even more funding for the project. Several weeks ago the state went one better than the original request and said it would not only guarantee the loan, it would actually make the loan (see 
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