Montage Resources Releases Last Quarterly Update – Merging Next Wk
After a shareholder vote scheduled for next Thursday, Nov. 12, Montage Resources will be no more. The company is selling itself to Southwestern Energy in an all-stock deal worth $857 million (see Stop Press! Southwestern Energy Buying Montage Resources for $857M). Yesterday Montage issued what will be its very last quarterly update. What does the update show?
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The radicalized Pennsylvania Environmental Defense Foundation (PEDF) never gives up. In June 2017, the PEDF won a case at the PA Supreme Court by the skin of their teeth (see 
In June, Weatherford International, the world’s fourth-largest oilfield services (OFS) company, announced that its CEO, Mark McCollum, had suddenly “left” the company (see 
Although the national election is still undecided (looking like Biden, a complete disaster), in almost every other respect Republicans (i.e. pro-shale candidates) won, big-time. Republicans gained seats in the U.S. House of Representatives, look to be keeping a majority in the U.S. Senate, and picked up seats in many state legislatures. Leftist Democrats poured BIG money into Pennsylvania in an attempt to flip both the PA House and Senate from red to blue. They failed. And that’s very good for shale energy in the state.
MARCELLUS/UTICA REGION: CNX supports area school districts as part of ongoing COVID-19 community response; Natural gas shouldn’t be a partisan issue; Dominion comes full circle as it works to offload remaining US gas pipeline assets; NATIONAL: U.S. LNG exports continue weekly rise; Sempra looking at strategic funding options to support North America LNG plans; Ditch Paris—and save America; INTERNATIONAL: Saudi Aramco reports increasing natural gas output, with earnings climbing in 3Q; A warning from the United Kingdom: renewable energy may not suffice.
Energy Transfer (ET), builder of the Rover pipeline project and the Mariner East pipelines here in the M-U region (as well as many other projects across the country), issued its third-quarter update yesterday. The company lost $782 million in 3Q20 versus making a profit of $857 million in 3Q19. Some (most) of the loss was a paper loss. As part of the update, we learned that the “next phase” of the Mariner East project will be placed into service by the end of this year.
The Sierra Club, backed with money from Russia (see 
Last week we were jazzed when noticed the price of natural gas at the NYMEX Henry Hub had soared, up over $0.30 to $3.30/Mcf (see 
Here’s something we didn’t know (to further depress us): It’s not against the law for American-based nonprofits to accept big contributions from foreign entities. It should be against the law, but it’s not. We previously told you that the Sierra Club and National Resources Defense Council (NRDC) are funded, in part, by Russia (see 
During the Williams third-quarter 2020 update yesterday, CEO Alan Armstrong shared some very interesting, and relevant (to the Marcellus/Utica) comments. Armstrong said that two important pipeline projects to carry M-U gas to other markets, the Southeastern Trail expansion project and the Leidy South project, are both in the midst of coming online–ahead of schedule.
Equitrans Midstream, the lead partner and builder of the 303-mile Mountain Valley Pipeline (MVP) project, announced yesterday it has (once again) pushed back the in-service date for the pipeline, from 1Q21 to the second half of 2021 (meaning by December), and pushed up the cost of the project, from $5.4 billion to as high as $6 billion. You can thank the jobs-and-economy-destroying Sierra Club for the delays and increase in cost.
We’ve 