Energy Stories of Interest: Fri, Feb 15, 2019

MARCELLUS/UTICA REGION: Williamsport explorers beat Ithaca winers, once again; OTHER U.S. REGIONS: India’s Petronet lines up Driftwood LNG equity investment; Waha price collapse signals worsening gas supply glut in the Permian; NATIONAL: Dominion Energy adds two new directors; Bill Barr steps down; Natural gas processing capacity in the lower 48 states; US rig count falls 15 on week to 12-month low; Upstart pitches plan for the cheapest U.S. natural gas exports; EIA adds new play production data to shale gas and tight oil reports; Can U.S. gas production keep up with demand?; Increased use of natural gas exposes U.S. to cyber attacks, FERC chairman says.
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Trump Tells Cuomo F2F – You Should Allow Fracking & Pipelines

New York Gov. Andrew Cuomo’s foolish policies have finally come home to roost. You can only overtax and overregulate for so long before a state’s economy comes tumbling down–and that’s just what’s happening to poor Andy, who went hat-in-hand to the White House on Tuesday to beg and plead with The Donald to tweak the newly implemented tax federal tax cut.
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Rice Boys Goose EQT Board – Ask for April (not June) Annual Mtg

Earlier this month Toby and Derek Rice, formerly executives with Rice Energy (before it sold to EQT), launched a proxy war to nominate board members who will appoint Toby CEO of EQT (see Proxy War: Rice Brothers Say Top EQT Mgmt, Board Must Go). The Rice boys are goosing the EQT board, asking them to schedule the annual meeting (where a vote will be taken) in April and not two months later in June as currently planned.
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Westchester County Panic Continues – New Gas Requests Double

Utility company Consolidated Edison recently announced it will slap a moratorium on hooking up new customers for natural gas in Westchester County (NYC suburb) beginning March 15 (see Moratorium on New NatGas Customers Coming in NYC Area). Guess what’s happened? New applications to hook up to the gas line have doubled and there’s a virtual stampede to Con Ed’s door to file even more requests–before the March 15 deadline.
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Exxon Building New Gulf Coast LNG Export Plant, M-U to Feed

Last week ExxonMobil and Qatar Petroleum announced a final investment decision (FID) to build Golden Pass LNG terminal, on the Texas side of the Sabine-Neches Waterway. That’s a stone’s throw from Cheneire Energy’s Sabine Pass LNG terminal on the Louisiana side of the waterway. Marcellus/Utica gas flows to the Cheniere facility. Will it also flow to Exxon’s when it’s built?
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It’s Time to Support Williams’ NESE Project in NY – Here’s How

It’s no secret that getting a gas pipeline project of any kind approved in New York State is an uphill battle because our governor, Andrew Cuomo, blocks all new pipelines in a bid to keep his left wing supporters happy. An important project from Williams, the Northeast Supply Enhancement (NESE) which would beef up capacity along the Transco pipeline system going into New York City, is about to get two hearings with the state Dept. of Environmental Conservation.
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Energy Stories of Interest: Thu, Feb 14, 2019

MARCELLUS/UTICA REGION: Two well permits awarded in Columbiana County (northern Utica); Westmoreland water authority will seek repayment from gas driller for additional water tests; OTHER U.S. REGIONS: New report details record Texas oil boom in 2018; NATIONAL: Don’t expect many US LNG exporters to build without firm supply deals; It’s full speed ahead for U.S. natural gas exports; INTERNATIONAL: Is a natural gas cartel forming?; Here’s why Saudi Aramco may be coming to an oil field near you.
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The Real Story of Antero’s $11M Clean Water Act Violations

Yesterday MDN began our lead story about a big fine for Antero Resources by saying, “This has to be a record-high amount for a fine plus remediation work, at least in the Marcellus/Utica.” We humbly admit we were wrong. In checking our records, we found that in a similar case from 2014, Trans Energy paid even more, quite a bit more. We researched what this whole business is about, why Antero and others were fined, interviewing a top Antero official, and we now have a far better understanding of what happened and why.
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EQT Settles WV Class Action Royalty Lawsuit for $53.5M

In 2013 some 10,000 West Virginia landowners/rights owners filed a class action lawsuit against EQT over their practice of post-production deductions from royalty checks. The lawsuit was scheduled to go to trial last November, but at the last minute, it didn’t. Word leaked that EQT had settled out of court (see EQT Avoids Trial, Settles WV Class Action re Royalty Deductions). Since that time we haven’t heard a peep–until this morning when EQT announced the terms of a “tentative” settlement.
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CNX, Range Resources Proved Reserves Both Go Up

It’s that time of year for energy companies to issue updates on just how much oil and gas they own in the ground, recoverable at current prices. Both CNX Resources and Range Resources, two major Marcellus/Utica producers, recently issued statements outlining their “proved reserves.” CNX has 7.9 trillion cubic feet equivalent (Tcfe) in proved reserves as of Dec. 31, 2018. Range Resources has 18.1 Tcfe in proved reserves.
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New “Report” Attacks WV Shale, Advocates 10% Severance Tax

A partisan left-wing group calling itself the West Virginia Center on Budget & Policy along with another partisan left-wing group called the Institute for Energy Economics and Financial Analysis (IEEFA) released a report last week that claims WV’s shale industry has “fallen short” in delivering on economic promises, and the way to fix it is to boost the severance tax from 5% to 10%! Yeah, they’re out of their collectivist minds.
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Atlantic Coast Pipeline – Where Do Things Stand?

Although Dominion Energy’s 600-mile Atlantic Coast Pipeline (ACP) is facing serious delays and cost overruns mainly due to lawsuits brought by Big Green groups, the company is still committed to building the pipeline (see Dominion “Still Committed” to Building Atlantic Coast Pipeline). The project is now delayed until late 2020 for a partial startup, with full service sometime in 2021, and the new price tag has ballooned to $7.5 billion. Where, exactly, do things stand? What’s holding it up? Give us a sitrep!
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Dominion’s Plan to Reduce Methane Emissions 50% in Next 10 Years

Dominion Energy is using innovative technologies like Zero Emissions Vacuum and Compression (ZEVAC®) to keep more methane in the system and out of the atmosphere.

Yesterday Dominion Energy announced they are launching a bold new program to cut down on methane emissions coming from their operations by 50% over the next 10 years. In raw numbers they hope to prevent 430,000 metric tons of methane from entering the atmosphere, “the equivalent of taking 2.3 million cars off the road for a year or planting nearly 180 million new trees.”
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Must-See Video on “Climate Change”

It’s time to confront the “climate change” debate head on, since so-called man-made global warming (now renamed climate change) is supposedly caused by burning fossil fuels. We have a *must watch* video from the creative folks at Clear Energy Alliance that does a masterful job of skewering the climate change hoax that everyone seems to believe in. PLEASE WATCH THIS VIDEO!
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