NATIONAL: Why has the USA natural gas price been dropping?; Biden to stand fast on LNG-permit halt; Will Trump victory affect oil and gas hiring in the USA?; Donald Trump’s energy opportunity; INTERNATIONAL: Saudis said to resist restating fossil fuel transition pledge at COP29. Read More “Other Stories of Interest: Mon, Nov 18, 2024”
For the week of Nov 4 – 10, permits issued in the Marcellus/Utica came roaring back with a total of 34 permits issued (up from 13 issued the prior week). There were some VERY interesting things to note about some of the permits issued. The Keystone State (PA) issued 16 new permits, with five going to Range Resources in Washington County. And that’s the first of three interesting things to note. All five Range permits were issued for Cecil Township, which recently passed a ban on new fracking via a 2,500-foot setback regulation (see Cecil Twp Supervisors Pull the Trigger on Frack Ban Via Setbacks). Read More “34 New Shale Well Permits Issued for PA-OH-WV Nov 4 – 10”
MDN first reported on a lawsuit by a group of Wyoming County, PA, landowners back in January 2019 (see Fed Court Allows PA Royalty Lawsuit Against Chesapeake to Proceed). The lawsuit was originally filed in February 2018 by landowners against Chesapeake Energy and Equinor, claiming post-production deductions were made from royalty checks that should not have been allowed. Here we are nearly seven years later, and the case is about to go to trial following a decision by the U.S. District Court for the Middle District of Pennsylvania. Read More “Fed District Court Sends Pennsylvania Royalty Dispute to Trial”
We’re a sucker for a railroad story. There’s something magical about railroads, dontcha think? We spotted a railroad story that ties in with the Marcellus/Utica. Yesterday morning, the Ohio Rail Development Commission (ORDC) voted to approve a project (and back it with a grant) in Youngstown, Ohio. It is a significant, large-scale project by the Youngstown & Southeastern Railroad to create what will be called the Lansingville Yard. The new yard will serve customers related to the M-U, including the Shell ethane cracker in nearby Beaver County. Read More “Y&S Railroad Expanding Youngstown Yard to Service Cracker, M-U”
Yesterday, the East Kentucky Power Cooperative (EKPC), a nonprofit power generation and transmission electric utility with headquarters in Winchester, Kentucky, announced plans to build two new natural gas-fired power plants and convert its two existing coal-fired power plants to burn natural gas. That’s four new gas-fired power plants coming to two different counties, one county in the northern part of the state, the other in the southern part. While no mention was made of the source of gas to be used, it’s a safe bet the molecules will come from the Marcellus/Utica. Read More “Kentucky Utility Plans to Build 4 New Gas-Fired Power Plants”
In September 2022, the New York Public Service Commission (PSC), which oversees and regulates public utilities in the state, approved the takeover of the Fortistar gas-fired power plant in North Tonawanda, NY, a town close to Niagara Falls, by Canadian crypto mining company Digihost. In December 2022, the Federal Energy Regulatory Commission (FERC) offered its blessing too. All of which prompted the radicals of Earthjustice, representing two other disgusting radical groups—the Sierra Club and Clean Air Coalition of Western New York—to sue (see Green Radicals Sue NYS for Approving Niagara Falls Bitcoin Plant). Fortunately, the lawsuit didn’t stop the transfer, which happened in early 2023 (see Canadian Bitcoin Operator Completes Purchase of WNY Gas-Fired Plant). However, Earthjustice continued to pursue its lawsuit and yesterday got a ruling from a state court to nullify the PSC’s original approval of the sale to Digihost. Read More “Court Rescinds Approval of WNY Gas-Fired Plant Sale to Bitcoin Co.”
Our observation is that WhiteHawk Energy is smitten with PHX Minerals. For the last 15 months, WhiteHawk has been trying to get PHX down the marriage aisle in any way it can. PHX has repeatedly given WhiteHawk the cold shoulder. WhiteHawk’s latest attempt, which we told you about yesterday, was an appeal to PHX shareholders to pressure the board to sell at $4 per share (see WhiteHawk Energy Keeps Up Public Pressure to Make PHX Merge). PHX didn’t waste any time responding. It was a resounding NO! Read More “PHX Response to WhiteHawk Energy’s Latest Marriage Proposal: NO!”
ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced Wednesday that it will issue a half-cent dividend to unitholders for the third quarter of 2024. The company paid no dividend in 2Q24. The company continues to hold back some profits ($90,000 in 3Q24) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.” Read More “ECA Marcellus Trust I Gives Investors Half-Cent Dividend for 3Q24”
OTHER U.S. REGIONS: Exxon plans to cut almost 400 Pioneer jobs in Texas by 2026; NATIONAL: BMI says Trump presidency breeds new uncertainty for oil price; Trump weighs ‘fearless’ fracking advocate for top energy post; INTERNATIONAL: Germany rejects Russian natural gas shipments; Trump’s tariffs won’t curb EU’s reliance on U.S. LNG. Read More “Other Stories of Interest: Fri, Nov 15, 2024”
Williams delivered its third quarter update last week. The company is working overtime to expand its extensive network of natural gas pipelines. Quick fact: Did you know that Williams’ pipeline network handles about one-third of U.S. natural gas? Massive! And it’s only going to grow, according to CEO Alan Armstrong, who said: “Not only do we have a clear line of sight to a full roster of projects that are in execution, but we continue to commercialize vital high return projects across our footprint.” Much of the expansion will come in the Marcellus/Utica region and regions adjacent to ours fed by our molecules. Read More “Williams Says NatGas Demand Sky High, Full Roster of Pipe Projects”
We continue to mourn the loss of Cabot Oil & Gas (100% focused on the Marcellus in northeastern PA) following its merger with Cimarex Energy (an oil driller focused on the Permian and Anadarko basins) in 2021 (see Cimarex Takes Over Cabot, Merged Co. Called “Coterra Energy”). The time and focus and creative thinking and MONEY that could have gone into more (or better) Marcellus drilling now goes to other plays. Case in point: Yesterday Coterra Energy, the new name of the merged Cabot and Cimarex, announced it will buy “certain assets of Franklin Mountain Energy and Avant Natural Resources” located in the Permian for $3.95 billion. That’s $3.95 billion that could have bought a Marcellus or Utica driller instead. Bummer. Read More “Siren Song: Coterra Energy Buys Permian Assets for $4 Billion”
Two weeks ago, MDN brought you the news that Christmas had come early with the announcement of a plan to build the country’s largest natural gas-fired power plant at a proposed data center site in Pittsylvania County, Virginia (see Massive Data Center with 3,500 MW Gas-Fired Plant Proposed for Va.). Balico, LLC applied to rezone more than 2,200 acres for a proposed campus that would include its own on-site gas-fired power plant complex using Marcellus/Utica molecules from the Mountain Valley Pipeline. The project hit major pushback from local residents and politicians, and just like that, Balico pulled the plan. Read More “Plan for Massive 3,500-MW Va. Gas-Fired Plant Slashed 91% to 300-MW”
Epsilon Energy issued its third quarter 2024 update last week. Epsilon, a relatively small company, used to concentrate most of its effort on developing Marcellus Shale wells. However, over the past few years, the company has expanded into other plays and now owns assets in the Anadarko (Oklahoma and Texas), the Permian (Texas and New Mexico), and most recently the Western Canadian Sedimentary Basin (in Alberta, Canada). Epsilon typically does not do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy (now Expand Energy) in the Marcellus, and the other company does the drilling. For 3Q, Epsilon’s capital expenditures were $4.7 million in the upstream (drilling) division. There was no breakdown on where that money was spent, but we suspect little, if any, was spent in the Marcellus. Read More “Epsilon 3Q: Chesapeake Finally Brought Some Pa. Wells Online”
Some 15 months ago, WhiteHawk Energy, headquartered in Philadelphia with ownership of mineral and royalty interests for over 1 million gross unit acres and over 3,400 producing horizontal shale wells between the Marcellus and the Haynesville, proposed marriage to PHX Minerals, based in Fort Worth, Texas, owner of 75,000 leased mineral acres principally located in the SCOOP and Haynesville plays (see WhiteHawk Energy Proposes Forced Merger with PHX Minerals, Inc.). WhiteHawk’s original overtures went unanswered, so it issued a public proclamation of its intent to get PHX down the aisle, willingly or not. PHX answered in August 2023 with a very public “get lost” message (see PHX Minerals Says WhiteHawk Marriage Proposal “Grossly Inadequate”). WhiteHawk is baaaaaccccck! Read More “WhiteHawk Energy Keeps Up Public Pressure to Make PHX Merge”
Two days ago, MDN told you the great news that President Trump will nominate New York State’s own Lee Zeldin to lead the viper’s nest known as the Environmental Protection Agency (see Trump to Tap NY’s Lee Zeldin to Head EPA; Climate Radicals Enraged). The left’s heads have been exploding all week long with Trump’s picks, including Zeldin. However, one left-wing publication, Inside Climate News, has done some digging and published what we consider a pretty fair look at Zeldin’s career and how he might lead as head of the EPA. Read More “An In-Depth Look at Lee Zeldin, Nominated for Head of EPA”
NATIONAL: U.S. associated natural gas production increased nearly 8% in 2023; Republican sweep opens way to boost oil and gas development; People first energy policy is a winning issue for Trump and the GOP; INTERNATIONAL: Shell urges court not to halt UK North Sea oil and gas projects; Global carbon emissions estimated to have set record high; USA climate official tells COP29 oil boom aids energy transition; European Commission releases mutual energy suicide pact roadmap. Read More “Other Stories of Interest: Thu, Nov 14, 2024”