Chesapeake Energy | Energy Companies | Epsilon Energy | Industrywide Issues | Litigation | Pennsylvania | Susquehanna County
TX Judge Allows Epsilon to File New Lawsuit Against Chesapeake in PA
Last week MDN told you that Epsilon Energy, which concentrates most of its effort on the Marcellus in Susquehanna County, PA, had sued its joint venture partner Chesapeake Energy over Chessy’s refusal to allow Epsilon to drill four shale wells on land Chessy doesn’t want to drill (see Epsilon Sues Chesapeake to Drill 4 Marcellus Wells, Court Overrules). We also told you the Texas bankruptcy judge that presided over Chesapeake’s recent Chapter 11 case ordered Epsilon to drop its lawsuit. The Texas judge has since modified his position.
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The Enverus U.S. rig count continues to climb (a good sign). For the week ending April 7, the U.S. rig count climbed another 9 active rigs to 528. The Marcellus lost two rigs and ended the week with 31 active rigs. The Ohio Utica added one rig and now has 13 active rigs. The M-U combined has 44 active rigs. The other major shale gas play, the Haynesville, stayed even with 48 active rigs.
We sometimes wonder if politicians understand how STUPID they sometimes sound (
MARCELLUS/UTICA REGION: Verde Bio Holdings announces acquisition of mineral and royalty interests; UGI companies join Natural Gas Supply Collaborative; Antero Resources announces retirement of co-founder Glen Warren; NATIONAL: Lawmakers tell Biden to maintain Army Corps permitting rule; Groups petition EPA to remove ethane and methane from list of compounds exempt from emissions limits.
Last MDN told you that the West Virginia House of Delegates had passed House Bill (HB) 2581, which changes how the State Tax Department values producing oil and gas wells for property tax purposes (see 
Prepare for some mental gymnastics. Limber up your brain so you can follow this story. As you know, some big pension funds and investment firms have been on a “divestment” kick, eliminating their investments in filthy fossil fuel companies (see 
A month ago MDN told you about some of the biggest drillers in the Marcellus/Utica announcing new or expanded ESG (environment, social, governance) programs during their quarterly updates (see 
The U.S. Energy Information Administration’s (EIA) most recent monthly short-term energy outlook (STEO) contains some disheartening numbers regarding natural gas production and consumption. EIA, with some of the best number crunchers in the business, predicts natural gas production will hit 91.41 billion cubic feet per day (Bcf/d) in 2021 and 93.29 Bcf/d in 2022. The current all-time high was 93.06 Bcf/d, hit in 2019 prior to the pandemic. That’s the good news. The bad news is that consumption (i.e. demand) is forecast to decrease even further this year and next year.
There are those who talk a good game about fighting back against the cultural rot that is consuming our country, fighting back against those who spread the false gospel of socialism and claim that capitalism is somehow evil. There are those who talk a good game about supporting fossil fuel energy. And then, there are those who actually do something about it. Talk is cheap. Action is expensive. You can classify Nick Deiuliis, CEO of CNX Resources, as an action guy. Yesterday Nick announced an exciting new mentorship program for high schoolers.
This is not good. The Weymouth compressor, the final piece of the $452 million Atlantic Bridge expansion project experienced a third “unplanned release” of natural gas yesterday. No word yet on how much gas was released or why. The project is already under an intense microscope with the Federal Energy Regulatory Commission (FERC) threatening to shut it down after only went online in January (see 
Last week the State of New Jersey, along with co-conspirator the New Jersey Conservation Foundation, filed their responses to defend their indefensible actions in blocking PennEast Pipeline’s eminent domain taking of land owned or controlled by NJ. It was their last, desperate attempt to avoid having a lower court ruling overturned. They gave it their best shot, but we think they came up short.
Last week we brought you the earthshattering news of a resurrection–the resurrection of the Williams Northeast Supply Enhancement (NESE) pipeline project in the New York City area (see