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Marcellus Drilling News
  • Anti-Drilling/Fossil Fuel | Athens County | Industrywide Issues | Mahoning County | Medina County | Meigs County | Ohio | Portage County | Regulation

    More Frack Ban Ballot Measures Coming to OH in November

    July 1, 2016July 1, 2016

    voteA few days ago MDN told you about the fruitless efforts by anti-drilling zealots in Youngstown, OH in delivering a petition for a sixth vote on a frack ban measure for the November ballot (see Brain Dead: Youngstown Antis File Petition for 6th Frack Ban Vote). As we’ve pointed out, repeatedly, the Ohio Supreme Court has already ruled such “home rule” measures, if/when they get passed, are unconstitutional (see OH Antis Handed Crushing Defeat in Broadview Hghts Home Rule Case). Makes no difference. There are a number of other brain dead Ohioans in other communities too. Medina, Athens and Meigs counties have all had petitions filed for anti-fracking ballot measures in November, as well as the city of Waterville. There’s still an active petition being floated in Portgage County. Nutters popping up everywhere in the Buckeye State!…
    Read More “More Frack Ban Ballot Measures Coming to OH in November”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Statewide PA

    Calif. Anti-Drilling Billionaire Tom Steyer Spending Big $ in PA

    July 1, 2016July 1, 2016
    Tom Steyer
    Anti-Fossil Fueler Tom Steyer, using fossil fuels to fly around the world

    After buying the governor’s chair for Tom Wolf in November 2014 (see CA Anti-Driller Tom Steyer Purchasing Tom Wolf PA Governorship), billionaire and radical anti-fossiler Tom Steyer is back in the Keystone State spending more of his endless bags of money–this time to support anti-fracking Hillary Clinton in her faltering campaign to become president. Just like with PA Gov. Tom Wolf, if Hillary were to get elected, she’ll owe Steyer (and about two dozen foreign countries that she’s bribed over the past few years). Payback for Steyer will no doubt include an executive order banning fracking nationwide. That’s the price of doing business in libDem politics…
    Read More “Calif. Anti-Drilling Billionaire Tom Steyer Spending Big $ in PA”

  • Energy Companies | Energy Services | EQT Corp | Equitrans/EQT Midstream | Statewide WV | West Virginia

    EQT Donates $75,000 to WV Flood Relief Efforts

    July 1, 2016July 1, 2016

    EQT logoA few days ago MDN told you how proud we are of the Marcellus/Utica industry for stepping up the plate and donating money (and time) to assist flood victims in West Virginia (see NatGas Industry Steps Up with $350K to Help WV Flood Victims). Add another $75,000 to that number. EQT has just donated $50,000, and EQT’s Mountain Valley Pipeline subsidiary $25,000 to flood relief in WV…
    Read More “EQT Donates $75,000 to WV Flood Relief Efforts”

  • Anti-Drilling/Fossil Fuel | Energy Companies | Exxon Mobil | Industrywide Issues | Litigation | New York | Statewide NY

    Exxon Beats Back Free Speech Attack by Liberal AGs in Climate Fight

    July 1, 2016July 1, 2016

    fight backMDN previously chronicled an insidious effort being spearheaded by the odious New York State Attorney General Eric Schneiderman in an attempt to criminalize free speech by accusing Exxon Mobil of “knowing” man-made global warming is “true” but suppressing that knowledge (see NY AG Targets/Accuses ExxonMobil of Lying about ‘Climate Change’). You disagree with Scheiderman on global warming, he wants to take your money away and put you in jail. As we’ve pointed out, it’s Nazi-like (see Rise of the New (Environmental) Nazis – Free Speech Under Attack). Schnedierman has convinced other state AGs to join his cackle (what a group of hyenas is called), including the far-left AG of Massachusetts, Maura Healey, and the hapless, bumbling idiot of an AG in the Virgin Islands, Claude Walker. What the cackle didn’t expect is that their prey would turn around and begin hunting them! Exxon has already stopped Mass. AG Healey (see Exxon Fights Back Against Mass. AG’s Illegal Subpoena). Now, add one more victory to Exxon’s tally: the hapless Virgin Islands AG Walker has withdraw his subpoena against the company…
    Read More “Exxon Beats Back Free Speech Attack by Liberal AGs in Climate Fight”

  • Commodity Price | Crude Oil | Economic Impact | Hydraulic Fracturing | Industrywide Issues

    Shale Economics 101: An Interview with O&G Giant Rusty Braziel

    July 1, 2016July 1, 2016
    Rusty Braziel
    Rusty Braziel

    MDN has long been a fan of Rusty Braziel, co-founder of Bentek Energy (later sold to Platts) and founder/president of RBN Energy. Earlier this year we wrote about the release of Rusty’s new book, “The Domino Effect” and his appearance on Jimmy Cramer’s Mad Money program (see The Smartest Man in the Oil (& Gas) Patch: Rusty Braziel). A few weeks back Rusty sat down with Don Stowers, Chief Editor of Pennwell’s Oil & Gas Financial Journal, to talk about the big picture–some of the most important issues facing the oil and gas industry, the lasting impact of the Shale Revolution, and Rusty’s thoughts from 40-plus years in the energy business. It turned into the cover story of their June 2016 issue. Below is a recap of a few of the questions (and Rusty’s answers), along with a copy of the full article. Worth the read!…
    Read More “Shale Economics 101: An Interview with O&G Giant Rusty Braziel”

  • Best of the Rest

    Marcellus & Utica Shale Story Links: Fri, Jul 1, 2016

    July 1, 2016July 1, 2016

    best of the restThe “best of the rest” – stories that caught MDN’s eye that you may be interested in reading. In today’s lineup: Inadequate NGL storage, pipelines in northeast; FERC schedule delays Mountain Valley, Equitrans pipeline projects; big oil production declines coming in Utica; air is cleaner because of natgas; oil industry execs feeling optimistic; natgas prices soars in 2Q16, but dips this week; NA climate plan omits natgas; and more!
    Read More “Marcellus & Utica Shale Story Links: Fri, Jul 1, 2016”

  • Energy Companies | Stone Energy

    Stone Energy Opens Marcellus Spigots Again; New Midstream Deal

    June 30, 2016June 30, 2016

    Stone EnergyAre we seeing the beginning of a trend? Yesterday MDN told you that after saying they would only drill a single Marcellus well and were curtailing production in the northeast, Eclipse Resources had turned that around and decided to drill 10-12 new wells, complete 24 wells and open up the spigots to shut-in wells once again (see Eclipse Resources Ramps Up Drilling; Floats More Stock to Raise $). Today we bring you news that Stone Energy has cut a new midstream gathering agreement with Williams and is returning some of their shut-in Marcellus wells to full production. Sure feels like things are beginning to look up!…
    Read More “Stone Energy Opens Marcellus Spigots Again; New Midstream Deal”

  • Energy Companies | Southwestern Energy

    Southwestern Floats $1.1B of New Stock, Offers to Buy Back IOUs

    June 30, 2016June 30, 2016

    southwestern energyEarlier this week MDN told you that Southwestern Energy, a major Marcellus/Utica driller, has cut deals with its banks and debholders to extend out the due date on loans coming due (see Southwestern Energy Buys More Time with Banks, Debtholders). Southwestern continues to aggressively manage its money and balance sheet. Yesterday the company announced it is floating $1.1 billion of new stock and plans to buy back outstanding notes (IOUs). We don’t pretend to understand why they would extend the due dates earlier this week and now attempt to buy back the IOUs. Perhaps it’s different sets of debt? Someone with a finance degree help us out here! At any rate, here’s yesterday’s set of announcements from Southwestern…
    Read More “Southwestern Floats $1.1B of New Stock, Offers to Buy Back IOUs”

  • Energy Services | Energy Transfer Partners | Industrywide Issues | Litigation | M&A | Williams

    Williams Admits There Will be no Merger, Suing ETE for “Damages”

    June 30, 2016June 30, 2016

    As the World TurnsFinally Williams has admitted, in writing, that the attempted buyout/merger by Energy Transfer Equity (ETE) is, as we said yesterday, dead (see Dead as a Doornail: ETE Terminates Merger with Williams). Williams has also admitted (in so many words) what we’ve been saying for more than a month: the vote by Williams “for” the merger and all of the recent goings on have been legal posturing. Williams says they are suing ETE “for monetary damages” for “its breaches.” Here’s the Williams admission issued yesterday in response to ETE’s termination of the deal…
    Read More “Williams Admits There Will be no Merger, Suing ETE for “Damages””

  • Energy Services | Energy Transfer Partners | Industrywide Issues | M&A | Williams

    Aborted Williams Merger/Shenanigans Take the Shine Off ETE’s CEO

    June 30, 2016June 30, 2016
    ETE CEO Kelsey Warren
    ETE CEO Kelsey Warren

    Until now, Energy Transfer Equity (ETE) CEO Kelsey Warren has been the golden boy. By snapping up a series of small pipeline companies at just the right time, Warren has created the ETE empire and turned himself into a billionaire in the process. It seemed he could do no wrong when it came to midstream business deals. And then he bit off more than he could chew: Williams. Warren pursued Williams for more than six months before it became public (see Energy Transfer Makes “Indecent Proposal” to Buy Williams for $48B). It took another three months after that before he finally got them to agree to a merger (see Williams Accepts ETE’s “Indecent Proposal” – Price Went Down $10B). Whether it was rotten timing, or rotten planning, the natural gas market crashed and the deal turned from crowning jewel to albatross. Along the way Warren pulled some shenanigans, like creating a privileged class of stock that gave himself and his buddies a leg up on Williams shareholders (see Merger Turns Sour: Williams Sues ETE/CEO Kelcy Warren). A Bloomberg article chronicles the rise, and now fall, of the midstream’s golden boy…
    Read More “Aborted Williams Merger/Shenanigans Take the Shine Off ETE’s CEO”

  • Beaver County | Economic Impact | Energy Companies | Ethane | Industrywide Issues | Jobs | Pennsylvania | Processing Plants | Shell | Statewide PA

    Shell Cracker will “Rebirth” Pennsylvania Manufacturing Base

    June 30, 2016June 30, 2016

    PMACan a single petrochemical facility, like Shell’s proposed ethane cracker plant in Beaver County, “rebirth” all of Pennsylvania’s moribund manufacturing base? That would be a resounding “Yes!” according to Marcellus Shale Coalition president Dave Spigelmyer and Pennsylvania Manufacturers’ Association president Dave Taylor. Writing a column in the Harrisburg Patriot-News, the two Daves make the case for just how big a hairy deal the coming Shell cracker in PA really is…
    Read More “Shell Cracker will “Rebirth” Pennsylvania Manufacturing Base”

  • Anti-Drilling/Fossil Fuel | Energy Services | Industrywide Issues | PennEast Pipeline | Pipelines | Regulation

    PennEast Responds to NJ Congresswoman’s Attempt to Stop Pipeline

    June 30, 2016June 30, 2016
    PennEast in NJ
    PennEast in NJ

    Yesterday MDN told you about the political pandering by a liberal Democrat Congresswoman from New Jersey, Bonnie Watson Coleman (see Dem Congresswoman Wants to Stop PennEast Pipe by Neutering FERC). Because Coleman has a small group of vocal fossil fuel haters as constituents who object to the PennEast Pipeline, she’s floating a plan that would neuter the Federal Energy Regulatory Commission’s process in approving all pipelines, including PennEast. Kind of like using a nuclear bomb to swat a fly. PennEast has responded to Ms. Coleman’s political stunt with the following calm, measured and devastating statement that rips apart her false claims…
    Read More “PennEast Responds to NJ Congresswoman’s Attempt to Stop Pipeline”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Ohio | Pennsylvania | Research | Statewide OH | Statewide PA | Statewide WV | West Virginia

    Antis Use Fake Front Group to Issue PA-OH-WV Shale “Report Card”

    June 30, 2016June 30, 2016

    PretendersLast December MDN ripped the mask off a group of extremely partisan, virulently anti-drilling Democrats who call themselves the innocent-sounding Multi-State Shale Research Collaborative (see The Pretenders: Multi-State Shale Research Collaborative). One of the chief ringleaders of this enviro-cabal, made up of hard-left groups including the Pennsylvania Budget and Policy Center, the West Virginia Center for Budget and Policy, and Policy Matters Ohio, is Jan Jarrett–the former president and CEO of anti group PennFuture (see Jarrett Out, Jugovic In as President & CEO of PennFuture). The entire anti community is a case study in political incest. The Multi-State Shale Research Collaborative (i.e. anti-drilling zealots) have just released a pair of “reports” (propaganda pamphlets), one of them a so-called report card on shale drilling in PA, OH and WV. The media, of course, laps it up and goes along with the lie…
    Read More “Antis Use Fake Front Group to Issue PA-OH-WV Shale “Report Card””

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Regulation

    30 LibDem Mayors Ask States & Feds to Allow Frack Bans

    June 30, 2016June 30, 2016

    LibDemLast weekend the United States Conference of Mayors held their annual conference in Indianapolis, IN. Following the meeting, a small group of 30 mayors–a few from larger cities like Pittsburgh and Charlotte, but most from small cities–signed a letter urging state and federal officials to allow local municipalities (like theirs) to ban fracking. It’s all couched in terms of “home rule” language, but the desire is to allow local governments to deny their citizens their Constitutional property rights. Near as we can tell, all 30 of the mayors signing the letter are liberal Democrats. The press release and letter were issued by the virulently anti-drilling Environment America, a Big Green group…
    Read More “30 LibDem Mayors Ask States & Feds to Allow Frack Bans”

  • Best of the Rest

    Marcellus & Utica Shale Story Links: Thu, Jun 30, 2016

    June 30, 2016June 30, 2016

    best of the restThe “best of the rest” – stories that caught MDN’s eye that you may be interested in reading. In today’s lineup: Pipeline work progresses in Stark County, OH; removing gas and oil leases from your land; red hot debate over tariffs on pipelines in New England; the importance of stripper wells; from natgas glut to shortfall in one year; EPA’s lack of respect for Supreme Court; and more!
    Read More “Marcellus & Utica Shale Story Links: Thu, Jun 30, 2016”

  • Energy Services | Energy Transfer Partners | Industrywide Issues | Litigation | M&A | Williams

    Dead as a Doornail: ETE Terminates Merger with Williams

    June 29, 2016June 29, 2016

    It's Dead JimAs we previously reported, last Friday a Delaware court ruled that Energy Transfer Equity (ETE) has the right to terminate its merger agreement with Williams (see Court Says ETE Can Terminate Williams Merger; Williams Votes Today). But as we also said, at that time ETE had not officially announced they were terminating the merger. They now have. Yesterday ETE said they have filed the official paperwork to dump the merger/takeover of Williams. Williams is continuing to litigate to try and force ETE to do the deal by appealing the court’s decision (see Williams Shareholders Vote “For” ETE Merger; Appeal Court Ruling). This deal is as dead as a doornail and everyone knows it–including Williams. What’s going on is legal posturing so Williams can try and extract money from ETE over the now-abandoned takeover attempt. In some ways we don’t blame Williams–they resisted ETE’s overtures for nine months before caving and agreeing. Of course, Williams caved and agreed because there are evil corporate raiders on the board pressuring the company to do so. As we’ve maintained all along–no one comes out of this smelling pretty…
    Read More “Dead as a Doornail: ETE Terminates Merger with Williams”

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