Energy Companies | Industrywide Issues | Olympus/Huntley & Huntley | Pennsylvania | Pipelines | Westmoreland County
Olympus Makes the Case for 6-Unit Compressor Station in Penn Twp
Hyperion Midstream LLC, a subsidiary of Olympus Energy, is seeking a special exception to a Penn Township (Westmoreland County) zoning ordinance so it can build a six-generator compressor station along Wilderness Road over the next four years. Last night, Hyperion representatives and witnesses testified at a township zoning hearing in favor of the plan. Those who spoke said the proposed compressor site would not create a problem for the air and water quality of that area.
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On Wednesday, PJM Interconnection, the largest U.S. power grid operator, asked (more like begged) Talen Energy to delay retiring several fossil fuel-powered plants in Maryland by three years. Why? PJM is afraid of blackouts due to unreliable “renewables” like wind and solar. Talen notified PJM last October that it intends to retire three oil-burning units and one natural gas-burning power unit at its Herbert A. Wagner Generating Station outside of Baltimore by June 2025.
The U.S. Energy Information Administration (EIA) published a post yesterday on the agency’s newly revamped Today in Energy website to announce it expects the Henry Hub natural gas spot price to average under $3.00/MMBtu in 2024 and 2025. What joyous news (not). The post explains the reasoning and thinking of EIA analysts and why they believe the price of natural gas will be, sadly, lower for longer.
NATIONAL: Climate alarmists give the game away by targeting … Teslas?; How fracking helped the U.S. become the world’s top LNG exporter; Energy Transfer seeks to raise $3.8 billion through notes offering; House Republicans blast EPA methane rule as ‘serious threat’; INTERNATIONAL: US-UK coalition strike Iran-backed Houthi targets in Yemen; China reports record oil and natural gas production in 2023.
This morning, Chesapeake Energy Corporation and Southwestern Energy Company announced that the two companies agreed to merge in an all-stock transaction valued at $7.4 billion, or $6.69 per share, based on Chesapeake’s closing price on January 10, 2024. Under the terms of the agreement, Southwestern shareholders will receive 0.0867 shares of Chesapeake common stock for each share of Southwestern common stock outstanding at closing. Chesapeake shareholders will own roughly 60% of the combined company, and Southwestern shareholders will own 40%. In other words, Chessy is buying out Southwestern.
Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. The EIA issued the January STEO yesterday. Among its latest predictions is that the growth rate for natural gas production will slow this year and next. Production will still grow, just not as fast as it did in 2023, says EIA. As for prices, EIA says the average Henry Hub price in 2024 will turn out to be around $2.70/MMBtu, which is dismal (but higher than 2023’s $2.54/MMBtu). They predict the price will rise to an average of $3/MMBtu in 2025 — still far below where it needs to be.
For years, anti-fossil fuel haters have made the same false claims: Drilling and fracking will destroy the environment, contaminate your water, make you sick, and create death and destruction everywhere it’s tried. Then, a responsible driller, like Olympus Energy, comes along and drills wells not far from the lefties in Pittsburgh, and none of those things happen. The air is fine, the water is fine, and nothing gets polluted or contaminated. In other words, the left’s wild claims are exposed as outright lies. But that doesn’t stop the left, funded by shadowy sources, from continuing to sue and challenge time and again — even AFTER shale wells are already drilled and online!
It’s hard to underestimate the influence and role of Pennsylvania on the world’s energy sector, especially over the past 19 years with the rise of the Marcellus Shale. However, advocates for fossil energy (like the American Petroleum Institute) are expressing concerns that PA’s dominant role may change to one with far less influence. Why? Lack of pipelines to transport PA’s production to other regions (or to export plants). Their concerns are valid (see 
If you’re a high school senior in Ohio looking for help paying for advanced education or training — whether it’s college, university, technical or trade school — listen up! The Ohio Natural Energy Institute (formerly called the Ohio Oil and Gas Energy Education Program, or OOGEEP) is now accepting 
Yes, we’ve noticed. The Henry Hub NYMEX futures price for natural gas soared yesterday. It has been on an upward trend for the last six trading days in a row. Yesterday, the NYMEX price jumped $0.21 (6.6%) to close at $3.19 per MMBtu. Spot (physical) prices have also moved higher. What’s causing it? And will the futures price now stay above $3?
Last October, MDN told you that American Energy Partners, Inc. (AEPT), based in Allentown, PA, with its fingers in several different pies, including subsidiaries in drilling, remediation, water, and more, changed its name to American Environmental Partners, Inc. (see