Can a single barge sinking (as it did Tuesday night) in the Calcasieu Ship Channel in Louisiana cause the Henry Hub natural gas price to plunge some $0.22 in a single day? It seems the answer to that question is YES.
Read More “Sunken Barge in LA Helps Fuel $0.22 One-Day Drop in NatGas Price”
The Westmoreland Sanitary Landfill in Westmoreland County, PA (southwestern corner of the state, near Pittsburgh) was fined $24,000 earlier this year (see PA DEP Fines Drill Cuttings Landfill for Contaminated Runoff). The PA Dept. of Environmental Protection (DEP) claimed effluent from the landfill, because the landfill accepts shale drill cuttings, had damaged a water treatment system in a nearby municipality. The DEP is back to shake down the landfill again, this time assessing a $59,000 fine.
Read More “PA DEP Fines Landfill (with Drill Cuttings) 2nd Time – $59K”
DTE Energy has been a long-time pipeline builder and operator in the Marcellus/Utica region. DTE, based in Detroit, is both a utility company and a midstream/pipeline company. According to an in-depth Forbes article (quoting Bloomberg), DTE is “exploring options” to either sell or spin-off its natural gas pipeline assets, including those in the M-U.
Read More “DTE Energy Explores Sale or Spin-Off of Pipeline Business”
Over the years we’ve written about pipeline systems being built or expanded and upgraded to carry Marcellus/Utica natural gas to other regions, including as far away as the Gulf Coast, where the gas either gets used in petrochemical plants or (more commonly nowadays), gets exported as LNG. We now have some estimates for just how much of the 33+ Bcf/d (billion cubic feet per day) of our gas goes to the Gulf Coast.
Read More “How Much M-U Gas Flows to the Gulf Coast Each Day? We Have Answer”
The Federal Energy Regulatory Commission (FERC) would like the U.S. Supreme Court to weigh in on whether it (FERC) or the bankruptcy courts have the final say in whether or not drillers can wiggle out of long-term pipeline contracts by declaring bankruptcy. Chesapeake Energy is trying to do so now, attempting to shed several contracts including some in the M-U region (see FERC Sides with Energy Transfer Against Chesapeake re Pipe Contract).
Read More “FERC Wants U.S. Supreme Court to Rule on Pipes & Bankruptcies”
Each year one of MDN Editor Jim Willis’ favorite events to attend is the Upstream PA event, planned and hosted by our buddy Joe Barone at Shale Directories. Unfortunately, Jim will have to miss this year’s event, being held Oct. 29 in State College, due to ongoing recovery from COVID-19. Jim and his wife are doing OK–it’s just taking a loooong time to get over the bug. At any rate, if you don’t have the coronavirus, you should attend! There’s still a few open seats and this event sells out each year.
Read More “Upstream PA 2020 – In-Person Event 2 Weeks Away!”
MARCELLUS/UTICA REGION: Exposing the eco-activists’ ‘greening’ of Pennsylvania in 2020; OTHER U.S. REGIONS: OUC announces plan to switch power plant from coal to natural gas; NATIONAL: Bankrupt Chesapeake Energy shareholders need a reality check because they still are getting no recovery; As oil bankruptcies surge, vulture investors start their long feast.
Read More “Other Stories of Interest: Thu, Oct 15, 2020”
Strange times. It’s not the kind of thing you want to be known for typically–that your shale region will lead the way among all shale regions across the country in *reducing* production in the coming month. Yet that’s what the latest Drilling Productivity Report from the U.S. Energy Information Administration (released yesterday) shows–and most folks in the Marcellus/Utica region will be happy about it.
Read More “Marcellus/Utica Sees Biggest Decrease in Nov. NatGas Production”
In June 2019 Long Ridge Energy Terminal in Monroe County, OH (transloading facility) began to build a 485-megawatt Utica gas-fired electric plant (see Work Begins on Gas-Fired Elec Plant in Monroe County, OH). The new Utica-fired plant is supposed to be up and running in “late 2021.” But what’s this? Even before it’s built, the owners have announced they are transitioning the plant away from Utica gas to burn hydrogen instead.
Read More “OH Long Ridge Energy Power to Blend Hydrogen with Utica Gas”
In September MDN told you that Cove Point LNG had gone offline for roughly three weeks for its annual plant maintenance routine (see Cove Point LNG Down for Maintenance for Next 3 Weeks). We’re happy to report the gas has once again begun to flow to the facility.
Read More “Cove Point LNG Begins to Restart After Annual Maintenance Outage”
Peregrine Energy Partners, headquartered in Dallas, Texas, continues its program to buy royalty payments from landowners in the Marcellus/Utica region. The company announced a fourth round of deals, this time purchased from landowners in Tyler County, WW, and Fayette County, PA.
Read More “Peregrine Energy Buys Royalty Payments from SWPA, WV Landowners”
Late Friday the Federal Energy Regulatory Commission (FERC) granted permission to Mountain Valley Pipeline (MVP) to restart work on all but a 25-mile segment of the 92% completed project (see FERC Gives Mountain Valley Pipeline OK to Restart Construction). Until now every signal we’ve read coming from Equitrans, the builder, is that MVP will be done and online early (first quarter) next year. Is that signal now changing?
Read More “Equitrans Signals Schedule Change for Mountain Valley Pipe”
Only Pennsylvania issued permits to drill new shale wells last week in the Appalachian region. Neither Ohio nor West Virginia issued any new drilling permits from Oct. 5-9. In PA, some 20 permits were issued in both the northeast and southwest parts of the state.
Read More “Weekly Shale Drilling Permits for PA, OH, WV: Oct. 5-9”
MARCELLUS/UTICA REGION: NYPA reaches peaker agreement; NATIONAL: Chart buys Worthington cryogenic and hydrogen business; ConocoPhillips in talks to buy Concho Resources in big shale bet; Morgan Stanley sees oil prices struggling to break above $50; Chevron to stay wedded to shale, for ‘incredible flexibility’; America in 2022 after a Biden-Harris win; The Supreme Court is taking critical step towards resolving frivolous climate suits; Down and out: bankruptcy valuations portend production declines.
Read More “Other Stories of Interest: Wed, Oct 14, 2020”
We spotted a couple of stories, one in Barron’s the other in the Wall Street Journal, about the pickup in the futures price of natural gas over the past week, and how those recent gains have led to impressive gains in the share price for Marcellus/Utica drillers. Yesterday the NYMEX Henry Hub futures price closed up 4.11% to $2.74/Mcf. The rising tide lifts all boats.
Read More “Marcellus/Utica Driller Stock Prices Trend Up with NatGas Price”
Here we go again. Just last week we told you that a New York City law firm couldn’t find enough interest to make a class action lawsuit against Cabot Oil & Gas using a sham indictment from the highly political Pennsylvania Attorney General’s office, so the law firm pulled the plug on the case (see Law Firm Withdraws Class Action Against Cabot re Securities Fraud). Another law firm is now trying the same thing…
Read More “Second Lawsuit Filed Against Cabot Claiming Securities Fraud”