Marcellus Drilling News

Anti-Drilling/Fossil Fuel | BP | Chevron | Energy Companies | Exxon Mobil | Industrywide Issues | Marathon Oil | Regulation | Shell

Desperate and Grumpy Biden Lashes Out at O&G Once Again
June 22, 2022June 22, 2022

President Joe Biden is getting grumpy and thin-skinned in his old age. He thinks oil drillers and refineries should get up and tap dance on cue when he says so, even though he wants to bankrupt them and put them out of business a few years down the road. Leftwing media is catching on that the Bidenistas can’t demand more output now, requiring investments in the billions, while sending the loud message the same companies will be out of business in a few years as renewable nirvana takes hold (see Leftwing Media Finally Starts to Criticize Biden Admin re Energy). Oil and gas companies are refusing to play along, and that has Biden grumpy…
Read More “Desperate and Grumpy Biden Lashes Out at O&G Once Again”
Anti-Drilling/Fossil Fuel | Industrywide Issues | Regulation

SEC Flooded with Negative Comments on Proposed ESG Reporting
June 22, 2022June 22, 2022

In March the U.S. Securities and Exchange Commission (SEC) said it will begin to force all publicly traded companies to disclose their so-called greenhouse gas (GHG) emissions and the imaginary climate risks their businesses face (see SEC Votes to Force Public Companies to Disclose Mythical GHG Risks). Comments on the onerous new rules were due last Friday. Yesterday we shared with you the negative comments against the proposed rules from CNX Resources and the IPAA (see CNX, IPAA File Comments Critical of SEC Proposed ESG Reporting Regs). Today we have a flood of additional negative comments filed against the onerous rules.
Read More “SEC Flooded with Negative Comments on Proposed ESG Reporting”
Best of the Rest

Other Stories of Interest: Wed, Jun 22, 2022
June 22, 2022June 22, 2022

MARCELLUS/UTICA REGION: Giuliani says make NY ‘best fracking state’ in US; Tankers divert to Trinidad, Maryland after Freeport LNG blast; OTHER U.S. REGIONS: Venture Global and EnBW sign LNG sales and purchase deals; Exxon in talks with U.S. to bring forward Golden Pass LNG expansion; NATIONAL: Easing heat, ‘monumental reshaping’ of supply fuels more losses for natgas; As crucial test looms, Big Greens are under fire; INTERNATIONAL: These are the largest energy companies by market cap right now.
Read More “Other Stories of Interest: Wed, Jun 22, 2022”
Energy Companies | Marshall County | Tug Hill Operating | West Virginia | Wetzel County

Tug Hill’s THQ Appalachia Shops Itself for $5 Billion
June 21, 2022June 23, 2022

Tug Hill Operating is focused on acquiring, exploring, developing, and producing oil and natural gas in the onshore U.S. with a primary focus on the Marcellus Shale in the Appalachia Basin (Southwest Appalachia in West Virginia, and Northeast Appalachia in Pennsylvania), Eagle Ford Shale in South Texas, Niobrara Shale in the Rockies region, and other select basins and formations. According to sources speaking with Reuters, Tug Hill is looking to divest its West Virginia assets for $5 billion.
Read More “Tug Hill’s THQ Appalachia Shops Itself for $5 Billion”
Industrywide Issues | Pennsylvania | Statewide PA | Taxation

PA Pays Out $234M in Impact Tax for 2021 – 2nd Highest Ever
June 21, 2022June 21, 2022

click for larger version

Last Friday the Pennsylvania Public Utility Commission (PUC) posted detailed information about this year’s distribution of last year’s impact fees generated by natural gas producers. Great news! PA raised a total of $234 million from Act 13 impact fees (PA’s version of a severance tax). That is the second-highest amount raised and distributed by impact fees from the beginning of the program. The impact fee is based, in part, on the NYMEX Henry Hub price of natural gas. The price went up a lot last year. It’s gone up even more this year. County and municipal governments directly affected by drilling are receiving a total of $123 million for the 2021 reporting year–roughly half of the revenue raised. The rest goes into the black hole of Harrisburg where PA politicians use it as play money for their favorite causes.
Read More “PA Pays Out $234M in Impact Tax for 2021 – 2nd Highest Ever”
Chesapeake Utilities | Energy Services | Industrywide Issues | Maryland | Pipelines | Statewide MD

Maryland Gov. Celebrates Del-Mar Energy Pathway Pipe Going Online
June 21, 2022June 21, 2022

Gov. Hogan joins Chesapeake Utilities staff to celebrate pipeline project (click for larger version)

A short 19-mile pipeline project called the Del-Mar Energy Pathway project, crossing both Delaware and Maryland, is finally online and operational. In addition to building 19 miles of pipeline, Del-Mar constructed new meter and delivery stations in Kent and Sussex counties in Delaware, and Wicomico and Somerset counties in Maryland, to carry more natural gas to locations in Delaware and Maryland. Maryland Gov. Larry Hogan (RINO) visited one of the locations of the new pipeline on June 14 to celebrate with Chesapeake Utilities Corporation, the builder of the project.
Read More “Maryland Gov. Celebrates Del-Mar Energy Pathway Pipe Going Online”
Chesapeake Energy | CNG/LNG | Energy Companies | EQT Corp | Exporting | Industrywide Issues

Conference Addresses Why It’s Hard to Export More M-U LNG
June 21, 2022June 21, 2022

Wrapping up the coverage of the recent Hart Energy DUG East Conference, Pittsburgh Business Times reporter Paul Gough pulled together comments by various speakers on the topic of LNG and whether or not the Marcellus/Utica can and will benefit from a growth in American LNG exports. Opinions by some of the biggest drillers in the M-U diverged on this topic.
Read More “Conference Addresses Why It’s Hard to Export More M-U LNG”
CNX Resources | Energy Companies | ESG | Industrywide Issues | Regulation

CNX, IPAA File Comments Critical of SEC Proposed ESG Reporting Regs
June 21, 2022June 21, 2022

In March the U.S. Securities and Exchange Commission (SEC), corrupted by the Bidenistas, said it will begin to force all publicly traded companies to disclose their so-called greenhouse gas (GHG) emissions and the imaginary climate risks their businesses face (see SEC Votes to Force Public Companies to Disclose Mythical GHG Risks). Companies will have to pretend they care about supposed man-caused global warming and cook up hokey methods for evaluating how much carbon dioxide not just their own company, but their customers “emit” into the air when using a company’s products (so-called Scope 3 emissions). Comments on the onerous new rules were due last Friday. Both CNX Resources and the Independent Petroleum Association of America (IPAA) filed comments pointing out the deeply flawed problems with what the SEC is proposing. The agency is full of beans.
Read More “CNX, IPAA File Comments Critical of SEC Proposed ESG Reporting Regs”
CNG/LNG | Commodity Price | Exporting | Industrywide Issues

Will Freeport LNG Fire Cause NatGas Prices to Drop to 2021 Levels?
June 21, 2022June 21, 2022

Have you been watching the NYMEX Henry Hub futures price? It’s been dropping like a rock since last week when a fire caused Freeport LNG and its 2 Bcf/d of exported LNG to go offline (see NYMEX NatGas Down 20% in Single Day on Freeport LNG Bad News). Freeport will be largely offline for most of the balance of 2022. We spotted a post by an analyst on the Seeking Alpha investor’s website talking about the Freeport situation and its impact on the price of natural gas (specifically on the UNG ETF). The analyst had some interesting things to say about how and whether the Freeport situation will affect natgas prices here at home.
Read More “Will Freeport LNG Fire Cause NatGas Prices to Drop to 2021 Levels?”
Anti-Drilling/Fossil Fuel | Industrywide Issues

Leftwing Media Finally Starts to Criticize Biden Admin re Energy
June 21, 2022June 21, 2022

Climate Bidenistas

You know when your own tribe, your own party members, turn against you, the end (politically) is near. We’re talking about the Commies of CNN and the socialists of CNBC who are finally, after two years, beginning to be critical, on camera, with members of the Biden administration with respect to the admin’s bumbling energy policies. Both Jennifer Granholm (the dullest, most inept Secretary of Energy EVER to occupy that post) and Rep. Ro Khanna (Democrat Congressman from California, a dimwitted apologist for Biden) were recently challenged on open, publicly broadcasted television newscasts. Granholm was challenged by CNN, and Khanna by CNBC. The challenge in both cases was the same: The Bidenistas can’t say “spend billions on reopening refineries and drilling more now” and at the same say “this is short-term and we want to shut fossil energy down in a few years.” Finally! The truth is beginning to be told.
Read More “Leftwing Media Finally Starts to Criticize Biden Admin re Energy”
Best of the Rest

Other Stories of Interest: Tue, Jun 21, 2022
June 21, 2022June 21, 2022

NATIONAL: Chevron eyes $2.5B investments in low-carbon hydrogen; Oil nosedives on Fed inflation actions; INTERNATIONAL: Germany will fire up coal plants again in an effort to save natural gas.
Read More “Other Stories of Interest: Tue, Jun 21, 2022”
About MDN

MDN Off Today – Juneteenth 2022
June 20, 2022

Today, June 20th, is a stock exchange and bank holiday. Juneteenth is a federal holiday in the U.S. commemorating the emancipation of enslaved African Americans. Juneteenth marks the anniversary of the announcement of General Order No. 3 by Union Army General Gordon Granger on June 19, 1865, proclaiming freedom for enslaved people in Texas. Originating in Galveston, the holiday has since been celebrated annually on June 19 in various parts of the United States, often broadly celebrating African-American culture. The day was first recognized as a federal holiday in June 2021, when President Joe Biden signed the Juneteenth National Independence Day Act into law.

The Juneteenth holiday is observed today (Monday) this year because the 19th fell on a weekend day. As with other bank holidays, MDN will not publish today.
Beaver County | Energy Companies | Ethane | Industrywide Issues | Pennsylvania | Processing Plants | Shell

Shell Exec Says Ethane Cracker 98% Done, Online “Couple of Months”
June 17, 2022June 17, 2022

polyethylene pellets

It’s been a loooong time coming. MDN has covered the Shell ethane cracker plant complex from the very beginning, back in 2016 (see Breaking: Shell Pulls the Trigger, PA Ethane Cracker is a Go!). We’re now six years later, over 8,000 jobs created and billions of dollars spent, and within the next few months Shell will begin full operations at its ethane cracker in Monaca (Beaver County), PA. A Shell executive told the Appalachian Energy Innovation Collaborative’s conference yesterday that the project is now 98% done and will be fully online within “a couple of months.” That is sweet news!
Read More “Shell Exec Says Ethane Cracker 98% Done, Online “Couple of Months””
Delaware County (PA) | Energy Services | Energy Transfer Partners | Industrywide Issues | Pennsylvania | Pipelines | Regulation | Sunoco Logistics

PA PUC Upholds ME Pipe Fine of $51K for Work Near Apartment Bldg
June 17, 2022June 17, 2022

In March MDN told you that the Deputy Chief Administrative Law Judge of the Pennsylvania Public Utility Commission (PUC) issued a ruling against the now completed Mariner East 2 pipeline project, assessing a $51,000 fine on the project (see PA PUC Judge Fines Mariner East Pipe $51K for Work Near Apt Bldg). This latest parting shot at the now-completed NGL pipeline project was levied for being too loud and not doing enough to communicate with residents of an apartment complex near where the pipeline was doing construction work in Delaware County. Yesterday the full PUC voted to accept and enforce the $51,000 fine recommended by the PUC judge.
Read More “PA PUC Upholds ME Pipe Fine of $51K for Work Near Apartment Bldg”
Beaver County | Energy Companies | Hydraulic Fracturing | Industrywide Issues | PennEnergy Resources | Pennsylvania | Regulation

Decision Nears, Antis Still Oppose PennEnergy Creek Water Request
June 17, 2022June 17, 2022

PennEnergy Resources recently reapplied (for a second time) for a permit to draw water from Big Sewickley Creek–but this time the request is cut in half, to just 1.5 million gallons of water a day (see PennEnergy Reapplies to Use SWPA Creek Water for Fracking Ops). In March PennEnergy submitted its water management plan amendment application for proposed water withdrawals from Big Sewickley Creek in Economy Borough, located in Beaver County. As before, the request is to use the water for shale well fracking (the company just received permits to drill seven new wells in Beaver County, PA, see today’s permit report). This application proposes a lower allocation request of 1.5 million gallons per day. As a decision by the state Dept. of Environmental Protection (DEP) nears, antis and local Democrat politicians still oppose the modified request. No surprise there.
Read More “Decision Nears, Antis Still Oppose PennEnergy Creek Water Request”
Ohio | Statewide OH

Riverbend Energy Sells Non-Operated Wells in Ohio Utica, Elsewhere
June 17, 2022June 17, 2022

Riverbend Energy Group invests in oil and gas wells. The company mainly invests in non-operated oil and gas wells, although it also has some operated wells in its portfolio (and investments in renewables too). In May we told you that Riverbend was, according to sources speaking with Reuters, working with an unnamed investment bank to shop three portfolios of non-operated oil and gas assets for $2 billion–with one of the packages containing Utica Shale assets (see Riverbend Energy Shops Non-Operated Wells in Ohio Utica, Elsewhere). Reuters was right, as usual.
Read More “Riverbend Energy Sells Non-Operated Wells in Ohio Utica, Elsewhere”