MarkWest Pays $1.8B to Buy Out JV Partner in Liberty Midstream
MarkWest Energy announced yesterday it will pay $1 billion in cash and 19.95 million new Class B MarkWest units (worth an estimated $750 million to $850 million) to buy out joint venture partner Energy and Minerals Group’s (EMG) 49 percent interest in MarkWest Liberty Midstream. The Liberty Midstream joint venture was formed in May 2009 to focus on construction and operation of midstream services in support of Marcellus shale gas production, including pipelines to gather natural gas, facilities to process it, and transportation to get it to market.
Although MarkWest is buying out EMG’s interest in the Liberty joint venture, the two companies will create a new Utica Shale midstream joint venture in eastern Ohio in 2012 as part of the deal.
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In a surprise move, two West Virginians have announced their intention to build an ethane cracker plant in the state. Former state Supreme Court Justice Richard Neely and Ryan Cunningham, owner of Charleston-based Cunningham Energy have formed a partnership with a few others and will try to get the necessary permits and financing to build an ethane cracker plant on a 1,500-acre plot near Montgomery, WV.
MDN wanted to see what your attitudes are about government’s role in promoting (or not) renewable energy sources. A even split between those who think government should have no role, and those who believe the government should promote, but not require, use of renewable sources. This poll was one of the least voted on in recent months, meaning either the issue just doesn’t stir up much interest among MDN readers, or (more likely) the poll question could have been written better! Let’s see if we might improve this week’s poll question. 
On Thursday, the federal Environmental Protection Agency (EPA) released draft findings of its investigation into groundwater contamination in the small town of Pavillion, Wyoming (a copy of the EPA draft report is embedded below). The EPA says that water in the town contains chemicals consistent with chemicals used in hydraulic fracturing. Fracking has been used in a number of nearby gas wells. Needless to say, major media outlets like the AP, and anti-drilling environmentalists, are breathlessly calling this the “smoking gun” and declaring that fracking really does cause groundwater contamination after all (ban it now!). Not so fast…
In the ongoing press event that is Dimock, PA, yesterday Gasland creator Josh Fox and actor Mark Rufalo, among others, gathered in Dimock to keep up the pressure and to continue to demagogue what has really happened in Dimock. See MDN’s 
It is no surprise that those who rabidly oppose shale gas drilling in general, and hydraulic fracturing in particular, do so for one primary reason: it threatens renewable energy. In fact, MDN would go so far as to say hydraulic fracturing has single-handedly destroyed the renewable energy movement, and the greenies have brought out the long knives in response.