MARCELLUS/UTICA REGION: Deputy General Counsel, Equitrans Midstream Corporation; NATIONAL: Why has Biden declared war on natural gas?; Productivity gains offer short-term relief for shale; INTERNATIONAL: Asian buyers may seek U.S. LNG if Australia worker disputes worsen.
Read More “Other Stories of Interest: Tue, Aug 22, 2023”
Tennessee Gas Pipeline (TGP) experienced an explosion and fire at Compressor Station 860 near Centerville (Hickman County), TN, last Friday around 8:30 a.m. The location is about 60 miles southwest of Nashville. The explosion blew out the upper tier of the walls of the building. One employee experienced a medical emergency not directly related to the blast and was taken to an area hospital. That employee has since been discharged. The six on-site employees during the incident are okay and accounted for. A one-mile evacuation was ordered but lifted later in the day on Friday.
Read More “TGP Compressor Station Explosion, Fire in TN Causes Force Majeure”
Chesapeake Energy’s stock (CHK) is getting an upgrade–at least in reputation and stature. Beginning today, CHK will join the S&P MidCap 400 stock index, replacing Mercury Systems Inc. (MRCY). The announcement was made last Wednesday after the close of the financial markets. Traders liked the news and immediately bid up shares of CHK in after-market trading. Chessy’s stock price is up 3.5% over the past five days. It seems the company has finally gotten its fiscal house in order after years of mountainous debt that led to bankruptcy in June of 2020 (see Chesapeake Files for Bankruptcy – Debtors to Take Ownership).
Read More “Chesapeake Energy Stock Joins S&P MidCap 400 Index as of Today”
It’s getting even uglier out there. For the sixth week in a row and the 15th of the last 16 weeks, the U.S. active rig count lost rigs. A lot of rigs. Last week the number decreased by a whopping 12 rigs after falling by five rigs per week for the three weeks prior. The total is now down to 642 active rigs across both oil and gas. Sadly, the Marcellus/Utica dropped three rigs last week (after losing two the week before) for a combined M-U rig count of 40–the lowest this year. Last week Pennsylvania picked up two rigs after losing two the week before, but the additions in PA came at the expense of Ohio (lost 2 rigs) and West Virginia (lost 3 rigs).
Read More “Uglier…U.S. Rig Count Drops Another 12 Rigs, M-U Drops 3 More Rigs”
In August 2020, MDN brought you the news that Competitive Power Ventures (CPV) wanted to build a state-of-the-art 1,250-megawatt natural-gas-fueled, combined-cycle electric generation facility in Grundy County, Illinois (see CPV Gets Funding, Begins Building Big M-U-Fired Power Plant in IL). Three Rivers Energy Center, which would cost $1.2 billion to build, would sell its power into the PJM market–enough to meet the demand of up to 1.25 million homes and businesses serving Northern Illinois, including Chicago. We lost track of progress on the plant until we spotted this terrific news: Three Rivers is now built and has just entered commercial operation!
Read More “CPV Brings 1,200 MW M-U-Fired Power Plant Online in Northern IL”
This is so frustrating. Last week, the University of Pittsburgh (Pitt) issued fake research reports that supposedly link proximity to shale wells with a minuscule (less than one-tenth of one percent) rise in one type of childhood cancer (see Pitt Releases Fake Research, Claims PA Fracking Linked to Kid Cancer). The so-called research has been destroyed by rational analysis and the fact the data used by Pitt was garbage to begin with (see EID, MSC Destroy Pitt Fake Study Tying Fracking to Cancer in Kids). However, the state Dept. of Environmental Protection (DEP) is now relying on that erroneous research, using it as an excuse to jack up setbacks–the amount of distance from a new well and nearby structures like homes, businesses, and schools.
Read More “Gov. Shapiro Plans to Use Fake Pitt Studies to Push BIG Setbacks”
Last week we told you about a new $2 billion hydrogen project coming to West Virginia (see $2B Hydrogen Project Announces for WV – FidelisH2 in Mason Co.). We also told you the project would produce hydrogen with “zero lifecycle carbon emissions” from a combination of Marcellus/Utica gas, renewable energy, and storing captured carbon underground (see WV Hydrogen Project to Generate Rev. of $105M/Yr, Incl. Pore Rights). The plan is to pay a royalty to WV to store carbon dioxide underneath state-owned land using pore space. By the end of the week, irrational anti-fossil fuelers were trying to pour water on the pore space plan.
Read More “Irrational Antis Attack New New Carbon Capture Project in WV”
MARCELLUS/UTICA REGION: Congressman tours gas sites, meets with employees in Sayre; Gas and oil operators talk innovation at annual summer meeting; OTHER U.S. REGIONS: Energy Transfer seeks new LNG export license after extension denied; NATIONAL: Electric vehicles run on natural gas; INTERNATIONAL: A progressive’s case for getting rid of ‘ESG’; Is oil and gas in a jobseeker or jobgiver market right now?; European natgas prices jump as Australia LNG workers poised to strike.
Read More “Other Stories of Interest: Mon, Aug 21, 2023”
We should have known there was a price to pay, a “pound of flesh” to be exacted, when we read the announcement that the Bidenistas of the FTC (Federal Trade Commission) had approved EQT’s deal to buy Tug Hill’s West Virginia assets. Two days ago, EQT issued a press release to announce the deal had been blessed by the FTC and would happen within the next seven days (see Bidenistas at FTC Clear EQT to Complete Buyout of Tug Hill & XcL). A day later, yesterday, the Pennsylvania Attorney General’s office issued its version of the news, stating approval by the FTC (and the AG’s office) came only after both the FTC and the AG screwed with the deal and changed the terms of the deal. We should have known.
Read More “EQT/Tug Hill Deal Came Only After PA AG, FTC Changed Deal Terms”
Yesterday we told you about a new $2 billion hydrogen project coming to West Virginia (see $2B Hydrogen Project Announces for WV – FidelisH2 in Mason Co.). Fidelis New Energy announced it had selected Mason County for a “net-zero” hydrogen production facility and low carbon microgrid, which it has dubbed The Mountaineer GigaSystem. The Fidelis plan includes building data centers powered by net-zero hydrogen. Fidelis will produce hydrogen with “zero lifecycle carbon emissions” from a combination of Marcellus/Utica gas, renewable energy, and CCUS (carbon capture, utilization, and sequestration). Today we pull back the curtain on how the deal came together and the state’s upcoming use of “pore rights.”
Read More “WV Hydrogen Project to Generate Rev. of $105M/Yr, Incl. Pore Rights”
We’ll say aloud what no one else appears ready or willing to say: The long-ballyhooed PTT ethane cracker plant project in Belmont County, Ohio, announced eight years ago, is dead. That’s our humble opinion. We periodically look for signs of life in the project, and it has been a flat line for YEARS. Nothing. A local news article from earlier this week asked, “What is the future of the Belmont County Ethane Cracker plant project?” Local county leaders are still “very optimistic” it will get built. We say it’s time to face reality.
Read More “Facing Reality – PTT Ohio Cracker Plant Project is Dead”
On August 17, the Pennsylvania Dept. of Environmental Protection (DEP) posted an Interim Final Environmental Justice Policy to guide DEP’s permit application reviews and outreach efforts in environmental justice areas throughout the Commonwealth. New Environmental Justice (or EJ) policies are a euphemism for regulations that prohibit drilling and pipelines built in neighborhoods of color or economic hardship zones because, says the left, those people can’t fight them. It is a uniquely dystopian and prejudiced view of the world. We call it “all shale drilling is racist” regulations. Completely repugnant. The DEP will publish their new anti-shale regs in the Pennsylvania Bulletin on September 16 and immediately implement them on the same day. Meaning the DEP will begin to slow or deny new permits for wells and pipelines as of that date–based on violating made-up EJ standards. We hope the Marcellus industry sues the DEP to stop it.
Read More “PA DEP Issues Interim “Final” Shale-Drilling-is-Racist Regulation”
Earlier this week, University of Pittsburgh (Pitt) researchers released three studies commissioned by the State Dept. of Health supposedly investigating whether or not there is a connection between shale drilling and childhood diseases, including cancer (see Pitt Releases Fake Research, Claims PA Fracking Linked to Kid Cancer). Our position from the beginning, when Pitt received $2.5 million with instructions to investigate a single cause (shale drilling), is that this is not real science. Not when an abandoned uranium dump in the area (which there is) is ignored as a potential source. Not when other potential environmental factors are ignored. After combing through the studies, both Energy in Depth and the Marcellus Shale Coalition penned superb articles that destroy these so-called studies. We also have some insightful comments from PA State Sen. Gene Yaw on the matter.
Read More “EID, MSC Destroy Pitt Fake Study Tying Fracking to Cancer in Kids”
Last week S&P Global Ratings, the largest and most important of the Big Three credit-rating agencies, which include Moody’s Investors Service and Fitch Ratings, announced it is ditching its system of numerically ranking corporate borrowers on their ESG risk (see S&P Global De-Wokeifies – Dumps ESG Scores from Credit Ratings). Even though S&P will no longer issue a 1 to 5 grade for ESG, the other two (smaller and less important) rating services, Moody’s and Fitch, have reiterated their love of ESG and love of shaming companies into becoming woke like them.
Read More “Moody’s & Fitch to Remain Woke, Refuse to Dump ESG Scores like S&P”
New shale permits issued for Aug 7 – 13 in the Marcellus/Utica crashed for a second week in a row. There were 10 new permits issued last week, down 14 issued the previous week (half of the 29 issued three weeks ago). Last week’s permit tally included 10 new permits in Pennsylvania, no new permits in Ohio, and no new permits in West Virginia (third week in a row for WV). The top permittee for the week was Chesapeake Energy, receiving 6 permits–4 in Bradford County and 2 in Susquehanna County.
Read More “10 New Shale Well Permits Issued for PA-OH-WV Aug 7 – 13”
MARCELLUS/UTICA REGION: Environmentalists call Dominion’s carbon offsets “greenwashing”; OTHER U.S. REGIONS: Cruz tells Texas oil and natural gas industry to ‘fight back’; NATIONAL: Trump Energy Sec tapped to lead utility lobbying group; Coalition demands DOE Sec. Granholm’s resignation over ethics lapses; Why America’s shale boom is not over; IRA subsidies might create energy minerals supply shortages; INTERNATIONAL: Workers begin strike vote at Chevron’s LNG facilities in Australia.
Read More “Other Stories of Interest: Fri, Aug 18, 2023”