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Marcellus Drilling News
  • Electrical Generation | Industrywide Issues | Michigan

    Michigan Gas-Fired Plant Finally Begins Producing Electricity

    September 21, 2022September 21, 2022

    Some 20 years ago Indeck Energy floated a plan to build an electric generating plant (powered by natural gas) in Niles, Michigan, not far from Chicago. In 2016 those plans got serious (see $1B Electric Plant Planned Near Chicago, M-U Connection?). Indeck finally held an official groundbreaking ceremony in September 2019 (see Delayed Michigan Gas-Fired Plant Finally Begins Construction). We’re happy to report the Niles Energy Center is now online, generating electricity from natural gas.
    Read More “Michigan Gas-Fired Plant Finally Begins Producing Electricity”

  • Energy Companies | EQT Corp | Industrywide Issues | M&A | Tug Hill Operating

    EQT Issues $1B in New Debt to Generate Cash for Tug Hill Deal

    September 21, 2022September 21, 2022

    Earlier this month EQT Corporation announced it is buying Tug Hill Operating’s West Virginia shale assets for $5.2 billion (see Confirmed: EQT Buys Tug Hill’s THQ Appalachia for $5.2 Billion). The deal adds 90,000 acres and 800 MMcf/d (million cubic feet per day) of production to EQT’s existing, massive, portfolio. How will EQT go about paying for it? Part of the money, $1 billion of it, will come from a new round of “notes” (IOUs) EQT announced yesterday…
    Read More “EQT Issues $1B in New Debt to Generate Cash for Tug Hill Deal”

  • Anti-Drilling/Fossil Fuel | Crime | Energy Services | Equitrans/EQT Midstream | Industrywide Issues | Litigation | Pipelines

    Three Protesters Convicted of Blocking MVP with Giant Wooden Duck

    September 21, 2022September 21, 2022
    click for larger version

    What is it about the anti-fossil fuel left that attracts oddballs to their cause? Particularly pipeline protesters, who tend to engage in theatrics and (frankly) make silly asses of themselves. The protesters certainly don’t channel the gravitas and command respect of someone like Gandhi. They’re more like Mr. Bean or the Three Stooges–just not as funny. In June 2021, four protesters erected a large wooden duck structure in the path of the Mountain Valley Pipeline (MVP) in Giles County, Virginia. The fools connected themselves with pipe (called a “sleeping dragon”) that caused police officers to spend around seven hours to get them unconnected. Three of the four were just convicted of trespassing and given suspended jail sentences. All three were from out-of-state (i.e. Big Green paid protesters).
    Read More “Three Protesters Convicted of Blocking MVP with Giant Wooden Duck”

  • Industrywide Issues | Pipelines | Regulation | Statewide WV | West Virginia

    Joe Manchin’s Save MVP Bill is Crashing & Burning, Rs & Ds Oppose

    September 21, 2022September 21, 2022

    It appears that Sen. Joe Manchin’s “save MVP bill” (otherwise known as the permitting reform bill) is crashing and burning. No official language or text of the bill has been released. Yet. Why is that? Manchin extracted a promise from Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi that a bill to finish up Mountain Valley Pipeline (MVP) and streamline permitting for future pipeline projects would be brought to a vote and passed–IF old Joe voted in favor of the horrible Inflation Reduction Act (IRA), a bill (now law) that damages the fossil fuel industry. Joe got rolled. He voted to pass the IRA, and now more than one-third of House Democrats and at least one Senate Democrat (crazy Bernie Sanders) have pledged to vote against Manchin’s bill, leaving him high and dry with nothing to show for his sellout on IRA. So Manchin turned to Republicans to save his tattered reputation–and they aren’t having it. Republicans refuse to reward Manchin’s sellout. Manchin calls it “revenge politics.” We call it eating the excrement sandwich you prepared for yourself, Joe.
    Read More “Joe Manchin’s Save MVP Bill is Crashing & Burning, Rs & Ds Oppose”

  • Best of the Rest

    Other Stories of Interest: Wed, Sep 21, 2022

    September 21, 2022September 21, 2022

    OTHER U.S. REGIONS: Cheniere finds partner for pipeline to Corpus Christi LNG terminal; NATIONAL: U.S. selling more crude oil from strategic petroleum reserve; Biden’s ‘kind of insane’ energy policies have created an entirely rational investor response; Oil prices will be above $100 per barrel in 2023, Bank of America says; Climate bill’s passage could spark Hill staff exodus; INTERNATIONAL: Coal rush! Energy crisis fires global hunt for polluting fuel; U.N. Secretary General’s windfall tax proposal is magical thinking; Gas will never flow through Nord Stream 2.
    Read More “Other Stories of Interest: Wed, Sep 21, 2022”

  • Industrywide Issues | Pennsylvania | Regulation | Statewide PA

    PA DEP Solicits Bids to Plug First 50 Orphaned Wells Using Fed $$

    September 20, 2022September 20, 2022

    Never believe that the government can do anything quickly–except destroy an economy. Nearly a year ago, President Biden signed into law the so-called Infrastructure bill, some $1.2 trillion in pork barrel spending, passed with the help of turncoat Republicans (see Biden So-Called $1.2T Infrastructure Bill Passes Thanks to RINOs). Only about 9% of that $1.2 trillion will go to actual infrastructure projects like roads and bridges. One of the line items in the bill (so small it’s a rounding error) is money to plug orphaned and abandoned oil and gas wells. The Pennsylvania Dept. of Environmental Protection (DEP) is finally about to use some of that money to plug 50 wells–out of an estimated 100,000+ such abandoned wells in the state. Now almost a year after the bill was signed into law.
    Read More “PA DEP Solicits Bids to Plug First 50 Orphaned Wells Using Fed $$”

  • Commodity Price | Industrywide Issues | Storage

    Natural Gas Shortage, High Prices Predicted for U.S. This Winter

    September 20, 2022September 20, 2022

    U.S. natural gas prices closed at a fresh six-week low of $7.75/MMBtu yesterday. The Wall Street Journal says the natural gas market has lost its bullish momentum due to a lack of hurricanes off the Texas coast. U.S. production has reached triple digits for the first time ever, topping 100 Bcf/d, as we reported yesterday (see U.S. Natural Gas Production in Lower 48 Hits 100 Bcf/d!). European natgas prices continue to drop too, sinking as much as 8.8% to their lowest level in nearly two months. And yet, we spotted a prediction that prices are about to spike again this winter–perhaps to their highest levels yet.
    Read More “Natural Gas Shortage, High Prices Predicted for U.S. This Winter”

  • Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

    Coterra Energy Using $750M in Cash to Pay Down Notes/Debt

    September 20, 2022September 20, 2022

    In early August, MDN reported that Marcellus driller Coterra Energy had made $1.2 billion in profit during the second quarter of 2022 (see Coterra Makes $1.2B in 2Q, Pumps 2.8 Bcf/d NatGas, 3 Rigs in NEPA). The company cleared $1 billion in free cash flow for 2Q–an amazing number. Yesterday, Coterra announced what it would do with three-fourths of 2Q’s free cash flow. Coterra is buying back and retiring notes (debt) early.
    Read More “Coterra Energy Using $750M in Cash to Pay Down Notes/Debt”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Statewide PA

    Partisan “Clean Energy” Nonprofit Launches in PA to Bash Fossil Fuels

    September 20, 2022September 20, 2022

    A Democrat-led, partisan nonprofit calling itself Energy Future PA was launched yesterday. The anti-drilling former PA Auditor General, Eugene DePasquale (Democrat), is co-chair. The new group is also co-chaired by a RINO (Republican in Name Only)–former State Rep. Marguerite Quinn. Don’t get snookered by the fluffy platitudes from this organization. Make no mistake, Energy Future PA is partisan with a bent against shale energy.
    Read More “Partisan “Clean Energy” Nonprofit Launches in PA to Bash Fossil Fuels”

  • Housing | Industrywide Issues | Supply Chain

    EnerStar Solutions Expands Outside M-U, Buys Civeo Corp’s Well Biz

    September 20, 2022September 20, 2022

    EnerStar Solutions is a Canadian-based, privately-owned company providing goods and services to remote sites (i.e. drilling sites). The kinds of things EnerStar provides include accommodations, communications, power, lighting, and more. The company’s key areas of operation include the Marcellus/Utica, Permian, Delaware, and Bakken shale regions. EnerStar is growing. Yesterday the company announced it is buying Civeo Corporation’s U.S. wellsite service business for an undisclosed amount. Civeo is a global provider of hospitality services and workforce accommodations.
    Read More “EnerStar Solutions Expands Outside M-U, Buys Civeo Corp’s Well Biz”

  • CNG/LNG | Exporting | Industrywide Issues

    Next World Energy Crisis: Too Few LNG Cargo Ships Available

    September 20, 2022September 20, 2022

    A shortage in LNG (liquefied natural gas) carriers is causing prices to rent/hire those carriers to skyrocket, and the high price of the carriers is being called a new “threat” to world energy supplies. So says a new article by Bloomberg. Natural gas traders and ship owners are warning that the ship shortage threatens to impact Asian economies that import oil and gas from the U.S., as they may find it difficult to get spare cargoes on short notice if the weather turns extremely cold this winter.
    Read More “Next World Energy Crisis: Too Few LNG Cargo Ships Available”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues

    New Global Registry of Fossil Fuels Aims to Demonize Oil, Gas, Coal

    September 20, 2022September 20, 2022

    The left just never stops, never gives up in its quest to control EVERY aspect of your life. The gold ring, the pinnacle, is to control your energy sources. Hence the hoax of global warming, supposedly caused by mankind. A new “tool” concocted by the far-left Carbon Tracker organization, called the Global Registry of Fossil Fuels, will assist the left in further demonizing oil and gas (and coal) by modeling and “tracking” over 50,000 oil, gas, and coal fields in 89 countries. The tool allows the public to play with it and create their own fake nightmare scenarios of what will happen if fossil energy continues to be used at present levels. Scaring yourself has become high entertainment on the left. This registry would be laughable if not for the fact that respectable “news” organizations like the Associated Press are trumpeting this as some big breakthrough…
    Read More “New Global Registry of Fossil Fuels Aims to Demonize Oil, Gas, Coal”

  • Best of the Rest

    Other Stories of Interest: Tue, Sep 20, 2022

    September 20, 2022September 20, 2022

    MARCELLUS/UTICA REGION: ARC federal co-chair Gayle Manchin tours PA Wilds conservation shop; Vance challenges, Ryan defends record on energy policy; OTHER U.S. REGIONS: Texas oil and gas employment still rising; NATIONAL: Fitch Solutions discusses gas to oil switching; There’s no celebrating the Inflation Reduction Act; Why U.S. shale producers aren’t riding to the rescue; VC interest in postcombustion carbon removal soars; INTERNATIONAL: German utilities close to long-term LNG deals with Qatar.
    Read More “Other Stories of Interest: Tue, Sep 20, 2022”

  • Doddridge County | Electrical Generation | Industrywide Issues | Statewide WV | West Virginia

    CPV Announces Plans for Massive $3 Billion, 1,800 MW Gas-Fired Plant in WV

    September 19, 2022September 19, 2022
    Joe Manchin takes credit

    On Friday, Competitive Power Ventures (CPV) announced that it has selected West Virginia for a 1,800-megawatt, combined-cycle natural gas power station (using Marcellus/Utica gas) that also uses carbon capture and storage (required window dressing in this day and age). The extremely unpopular WV Sen. Joe Manchin tried to take credit for the $3 billion project, to help rehabilitate his reputation (it didn’t work, he’s as unpopular as ever). The official announcement didn’t say where the plant will be built, but one news account says it will get built in Doddridge County. The project will employ 1,000 people to build it and won’t be ready until “later this decade.” This is one of, if not THE largest gas-fired power plant we’ve heard of. And it will get built in WV! It’s about time.
    Read More “CPV Announces Plans for Massive $3 Billion, 1,800 MW Gas-Fired Plant in WV”

  • Chief Oil & Gas | Energy Companies | Fayette County | Industrywide Issues | Lease & Royalty Payments | Litigation | Pennsylvania

    Fayette County, PA Landowners Get $5.5M Settlement from Chief

    September 19, 2022September 19, 2022

    A group of roughly 60 landowners located in Fayette County, PA, have received a $5.5 million settlement from what was Chief Exploration and Development (now called Cyprus Exploration and Development) to compensate the landowners for leases signed in 2008. The landowners filed a class action lawsuit in 2011, claiming bonus and rent payments were not made.
    Read More “Fayette County, PA Landowners Get $5.5M Settlement from Chief”

  • Hydraulic Fracturing | Industrywide Issues | Litigation | Pennsylvania | Pike County | Statewide PA | Wayne County

    3rd Circuit Buys Anti Argument, Blocks PA from Suing DRBC

    September 19, 2022September 19, 2022

    In a brilliant move aimed at boxing in the Delaware River Basin Commission (DRBC), two northeastern Pennsylvania State Senators–Gene Yaw and Lisa Baker–along with members of the PA Senate Republican Caucus (27 Senators in all), filed a lawsuit in January 2021 against the DRBC accusing the quasi-governmental agency of “taking” the property rights of PA residents without just compensation under the law over the DRBC’s ban on fracking (see PA Senators Sue DRBC for “Taking” Property re Frack Ban). In June 2021, a federal district court judge in Philadelphia dismissed the case claiming the Senators, who represent people shafted by the DRBC, don’t have “standing” to bring the lawsuit (see Fed Court Dismisses PA Senate Lawsuit Against DRBC Frack Ban). Senators Yaw and Baker appealed the dismissal to a higher court–to the U.S. Court of Appeals for the Third Circuit. Unfortunately, last Friday, the 3rd Circuit ruled against the brave and righteous Senators citing the same reason.
    Read More “3rd Circuit Buys Anti Argument, Blocks PA from Suing DRBC”

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