Two Democrat federal judges with the U.S. Court of Appeals for the District of Columbia (D.C. Circuit) are second-guessing a long-completed and flowing natural gas pipeline in the St. Louis, MO area–a pipeline that flows Marcellus/Utica gas to residents, businesses, and electric generating plants in the region. Why are we not surprised?
Read More “Democrat Fed Judges Grill FERC on Already-Done Spire Pipeline”
Masquerading as a nonpartisan, independent nonprofit, the Institute for Energy Economics and Financial Analysis (IEEFA) reportedly “conducts research and analyses on financial and economic issues related to energy and the environment.” The Institute’s stated mission is “to accelerate the transition to a diverse, sustainable and profitable energy economy.” In other words, they’re anti-fossil fuel, populated by biased Democrats with a vested interest in seeing Big Oil and Big Gas bankrupted. It’s no surprise the IEEFA just released a “report” saying the financial rationale for building the Mountain Valley Pipeline (MVP) has “evaporated” and, you know, Equitrans (the builder) should just forget about finishing the project and write off the billions already spent.
Read More “Propaganda “Report” by Left-Wing IEEFA Says MVP Not Needed”
Anti-fossil fuel nuts in New Jersey are hoping the recent decision by the Delaware River Basin Commission (DRBC) to permanently ban fracking within the river basin bodes well for another project they dearly want to ax: an LNG export facility in Gibbstown, NJ. The DRBC is composed of five voting members, including the governors of NY, PA, DE and NJ. New Jersey Gov. Phil Murphy is a left-wing Democrat and like others of his kind, susceptible to undue influence from the more radical elements in his party. Those radical elements now believe they can flip Murphy (and the other DRBC members) into blocking the Gibbstown LNG facility, after they so recently approved it, because of their frack ban decision.
Read More “Antis Use DRBC Frack Ban to Pressure Weak NJ Gov re LNG Exports”
Here’s something you don’t read about every day. A couple of leading Democrats are not only supporting natural gas as the best way to help America “transition” to “clean energy,” they’re saying so in a very public way, attempting to influence the debate about it. In an opinion piece appearing in the Washington, D.C. The Hill (required reading for all political swamp dwellers), two members of the Progressive Policy Institute (PPI) tout the benefits and virtue of using natural gas, calling for an end to the silly talk about gas bans.
Read More “Some Dems Say NatGas Plays Key Role in Clean Energy Transition”
According to the U.S. Energy Information Administration (EIA), in 2020 U.S. exports of propane reached record levels, increasing 13% and surpassing distillate fuel oil as the country’s top petroleum product export. U.S. exports of distillate fuel oil fell to its lowest level since 2016. Propane is one of the NGLs produced in (and exported from) the Marcellus/Utica.
Read More “U.S. Exports More Propane than Fuel Oil in 2020”
MARCELLUS/UTICA REGION: Manchin prods environmentalists to back oil, gas pipelines; NATIONAL: Not a fracking frenzy: what the new shale oil boom will look like; Cummins introduces heavy-duty natural gas powertrain; Biden sued by 12 states over climate executive order: ‘Enormous expansion of federal regulatory power’; INTERNATIONAL: Japanese companies form carbon-neutral LNG buyers alliance; Shell, Gazprom in Europe’s first carbon-neutral LNG cargo delivery.
Read More “Other Stories of Interest: Tue, Mar 9, 2021”
Summit Midstream Partners, formed in 2009 and headquartered in The Woodlands, Texas, operates natural gas, crude oil, and produced water gathering (pipeline) systems in several unconventional shale plays, including the Marcellus and Utica. Last week Summit issued its fourth-quarter (and full-year) 2020 update. One thing was obvious: The company’s Utica Shale segment was the star performer in 4Q and for the entire year.
Read More “Summit Midstream 4Q & 2020 – Utica Shale Segment Star Performer”
Institutional investors are large organizations, like banks, pension funds, labor unions, and insurance companies, that make big investments in individual stocks. They are an important investor for any publicly traded company, including drillers in the Marcellus/Utica. During 4Q20 the biggest drillers in the M-U saw a decrease in investments by the big institutions. That is all M-U drillers except for EQT, which saw a big increase from institutional investors.
Read More “Institutional Investors Snubbed Most M-U Drillers in 4Q, Except EQT”
This is a cautionary tale that highlights what we have preached over the years. From some of our earliest posts here on MDN, we have cautioned landowners (and rights owners) to treat the lease signing bonuses and royalties they receive in the Marcellus/Utica as an investment and not spend all the money as it comes in on the assumption it will always be there. We have an example of what happens if you spend it as soon as you get it: Greene County, PA.
Read More “Greene County, PA Mismanaged Shale Impact Tax – Now Going Broke”
The oil and natural gas industry has always been a “boom and bust” business. O&G cycles between times of “drill like crazy”, and “sweeping layoffs.” It is the nature of our market. Last year as the coronavirus pandemic set in and countries around the world shut down portions of their economies, particularly with travel all but ending, anti-fossil fuel zealots pronounced the death of fossil fuels (oil in particular). They said the race to replace fossil fuels with “renewables” had accelerated because of COVID (they were actually glad COVID hit). Antis could not have been more wrong about the prospects for oil and gas…
Read More “Boom Time Ahead – Oil & Gas Comes Roaring Back to Life”
We are so sick of the left and their twisted view of everything! For years we’ve covered a recurring claim from the left in their misguided attempt to smear natural gas and the pipelines that flow it. The left claims every time a pipeline runs near or through an area where the population is African American, or Hispanic, or rural poor (in other words, just about everywhere), that pipeline is automatically assumed to be racist.
Read More “FERC Looks to Block Pipes Near Black, Brown & Poor Communities”
Richard “Dick” Glick became a Federal Energy Regulatory Commission (FERC) commissioner in 2017, hand-picked by Sen. Chuck Schumer (see US Senate Votes to Confirm Final 2 FERC Commissioners). Since his first day on the job Glick has (to the best of our knowledge) voted against every single new natural gas and oil pipeline to come before the Commission. Yet last week Glick addressed CERAWeek attendees and claimed he’s not anti-pipeline. What a liar!
Read More “FERC’s Dick Glick Tells CERAWeek He’s Not Anti-Pipeline (LOL)”
MARCELLUS/UTICA REGION: Oil and gas industry is Valley economic driver; West Virginia counties, school districts in natural gas producing counties beginning to plan for revenue hit; OTHER U.S. REGIONS: Sierra Club Maine: The power of community organizing and the truth about fracked gas; California’s energy policies hurt minority citizens the most; NATIONAL: Enthusiasm for electric vehicles still appears excessive; INTERNATIONAL: OPEC+ shocker, don’t bet against the Saudis, US shale rejoices, loonie rallies.
Read More “Other Stories of Interest: Mon, Mar 8, 2021”
Last November Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), filed for a “pre-arranged” Chapter 11 bankruptcy (see Gulfport Energy Files for Pre-arranged Chapter 11 Bankruptcy). Gulfport’s bankruptcy has been a bumpy process according to recent filings in the case. According to a “heavily revised” disclosure statement filed by Gulfport, there are “concerns” from the Debtors’ Official Committee of Unsecured Creditors about Gulfport (the parent) transferring $1 billion worth of assets to a subsidiary, Gulfport Appalachia, when both were likely insolvent. And the court is actively looking at over $19.6 million of management bonuses paid in the eight months preceding the Chapter 11 filing, asking whether that money should now be “clawed back” and given to creditors.
Read More “Gulfport’s Bumpy Bankruptcy – Asset Transfer, Exec Bonuses Questioned”
Last summer MDN brought you the news that the Sierra Club lost a lawsuit aimed at blocking a landfill in New York State from accepting oil and gas drill cuttings from Pennsylvania (see Sierra Club Loses Court Case to Block Drill Cuttings in NY Landfill). The C&D Hakes Landfill in Painted Post, NY (near Elmira, located in Steuben County) continues to accept PA drill cuttings, although we’re not sure if those cuttings come from Marcellus drillers. At any rate, Hakes has filed a request to expand the landfill by another 43 acres (to 122 acres), to continue accepting PA drill cuttings for an extra 8-10 years.
Read More “New York Landfill Accepting Pa. Drill Cuttings Plans Expansion”
For the week ending March 3, the Enverus U.S. rig count soared by another 30 rigs, an indicator that activity is picking up in the oil and gas sector. The vast majority of the rigs (27) were brought online in oil-focused plays (12 of them in the Permian alone). Just 3 net rigs were brought online in gas-focused plays. The Utica Shale increased by 2 active rigs, while the M-U’s chief rival for rigs, the gassy Haynesville, added 3 rigs. (Obviously, some gas rigs were idled in other plays if there were +5 brought online in the Utica and Haynesville.)
Read More “Enverus U.S. Rig Count Sees Massive Increase, Up +30; Utica Up +2”