Extra Couple $ Million? Buy a Trailer Park in the Marcellus/Utica
From time to time MDN highlights the investments made by the publicly traded company UMH Properties, a New Jersey-based real estate investment company that buys up trailer parks (see our list of stories here). They’ve paid millions of dollars to buy trailer parks in the northeast. Why? Because those parks are located in the Marcellus/Utica Shale region. That is their stated reason. UMH says in their quarterly earnings call with investors and analysts that the Marcellus and Utica continue to drive their development decisions. We don’t know why, but we find this fascinating. Here are excerpts from the UMH conference call with analysts last week…
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Ever hear the phrase, “diggin’ deep”? That’s what anti-drillers are doing in New Hampshire with their opposition to a pipeline slated to come through their area in Hillsborough County. As plans for Kinder Morgan’s $6 billion Northeast Energy Direct (NED) pipeline project that will stretch from Pennsylvania through New York into Massachusetts, New Hampshire, and back into Massachusetts near Boston progress, more and more articles appear in newspapers, like the Monadnock Ledger-Transcript, attempting to convince people the pipeline is from Satan himself. In fact, according to the latest article, NED may just be from Satan! The Ledger-Transcript claims the pipeline, if it follows the same route as already-built high voltage electric lines, would cut through a hay field that (151 years ago) used to be a potato field and is the site of a miracle of importance to Seventh-Day Adventists…
On Friday Baker Hughes, which is being forced into a merger with Halliburton by the end of this year/early next year, issued a summary of rig counts last Friday. At first blush it appears to be good news, but when you dig under the surface, it’s not–at least for the Marcellus/Utica. The international rig count was 1,118, down 28 from the 1,146 counted in June 2015. However, the average U.S. rig count for July 2015 was 866, up 5 from the 861 counted in June 2015. It appears we’ve turned the corner on how low rig counts will go–we’ve bottomed and are either holding steady (in the U.S.), or perhaps every so slightly gaining ground again. But then we ran the numbers for the Marcellus/Utica and found rig counts continue to decline month over month…
Some more details about the brilliant move by some average farmers in Tioga County, NY who plan to use propane to frack a Utica Shale well, bypassing the existing ban on fracking in New York because the existing ban only disallows high volume water-based fracking…