Montage Sells Non-Core Utica Pipe Assets to Int’l Buyer for $25M
Montage Resources, the new name for the merger of Eclipse Resources with Blue Ridge Mountain Resources which happened more than a year ago, announced yesterday it is selling its “non-core” wellhead gathering infrastructure (pipelines) in the Ohio Utica condensate development area to an unnamed international buyer for $25 million. The transaction is expected to close by the end of this year.
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Each day New York State becomes more like a third world, tinhorn dictatorship. High and Supreme Lord Andrew Cuomo (governor and dictator of NY) has issued edicts to *permanently* ban all fracking in the state. The suckup legislature dutifully obliged (see 
MARCELLUS/UTICA REGION: Equitrans Midstream announces quarterly dividend; After drilling mishap condemns home, gas pipeline opponents ask to halt all work; OTHER U.S. REGIONS: Tellurian, Petronet renew Driftwood LNG talks; NATIONAL: Natural gas generation nabs growing share of installed U.S. microgrid capacity; Bounceback in U.S. shale oil output is unlikely to last the summer; Oil and gas companies tap DUC inventories to boost production at lower costs; Biden administration risk for energy sector reaches beyond domestic policy; Pipeline shutdown could hurt low-income Americans; Houston banks sell off energy loans, cut credit lines to oil and gas companies.
We told you that the law passed in Ohio (House Bill 6) granting FirstEnergy (now called Energy Harbor) $1 billion in corporate welfare from ratepayers, destroying the fair playing field for natgas-fired electric plants in the bargain, stunk to high heaven. We told you that the entire thing was corrupt (see 
Last week MDN brought you details of the 
BJ Services, a pressure pumping (i.e. fracking) company, began life in the 1870s. BJ was purchased by, and merged into, Baker Hughes in 2009 for $5.5 billion. In November 2016, Baker Hughes along with financial partners Goldman Sachs and CSL Capital Management combined forces (and money) to turn the Baker Hughes BJ division back into a standalone company (see 
Pennsylvania’s hard-left Attorney General, Josh Shapiro, is doubling down on the fraudulent so-called grand jury report that bashes the state’s Marcellus Shale industry. Yesterday afternoon Shapiro spoke on a webinar sponsored by leftist fringe group PennEnvironment. Shapiro once again lied about fracking chemical transparency and threatened he will indict more shale companies. Shapiro is off the reservation and out of control.
A number of far-left anti-fossil fuel (nutty) organizations aren’t getting any traction. Nobody listens to them. So they’ve banded together to form a new umbrella organization called ReImagine Appalachia. In other words, they’ve put lipstick on an anti-fossil fuel pig, hoping they can now, finally, get someone to pay attention to them. Ain’t gonna happen.
There were 27 (!) new permits issued in Pennsylvania for shale drilling July 13-17. There were, once again, no new permits issued in Ohio. What’s up in Ohio? Is nobody filing new permit requests? Or does the ODNR have a backlog of unprocessed requests? There were 7 new permits issued in West Virginia for shale drilling last week. In PA, new permits were issued in Armstrong, Bradford, Greene, Lycoming, Susquehanna, and Westmoreland Counties. In WV all 7 permits were issued for the same well pad in Wetzel County.
TC Energy’s Columbia Gas Transmission subsidiary has not given up on building a 3.37-mile, 8-inch pipeline under the Potomac River. The pipeline, from Maryland on one side of the river to West Virginia on the other side, will be built to feed a larger pipeline project from Mountaineer Gas called the Eastern Panhandle Expansion. The crazy anti-fossil fuel loons who run Maryland are trying to block the project. Columbia is asking the Federal Energy Regulatory Commission (FERC) for more time to get it built because of Maryland’s interference.
The devious minds at THE Delaware Riverkeeper are working in overdrive. In an apparent concession that their lawsuits to try and stop the New Fortress Energy LNG liquefaction facility from getting built in Wyalusing (in northeastern PA) by stopping the construction of a new dock New Fortress wants to build on the Delaware River, Riverkeeper is changing strategies. If they can’t stop the facility and they can’t stop construction of the loading dock (in Gibbstown, NJ), Riverkeeper hopes to convince towns between Wyalusing and Gibbstown to pass zoning ordinances forbidding the transport, via truck or rail car, of LNG through their communities.
Yesterday Halliburton was the first of the big three oilfield services companies (Baker Hughes and Schlumberger being the other two) to release second-quarter numbers. While on paper the company lost $1.7 billion due to an impairment charge, Halliburton actually made $456 million in free cash flow–after axing workers and cutting dividend payments. But the big news (for us) from yesterday’s 2Q update was a comment by Halliburton CEO Jeff Miller that the company will look to markets outside the U.S. to grow in the future.
Last year Chevron tried to buy Permian driller Anadarko Petroleum for $50 billion. Occidental Petroleum swooped in at the last minute and lured Anadarko away in a $57 billion deal. Chevron left the marriage altar with a cool $1 billion in breakup fees (see 
We’ve read a lot of stories in mainstream media about the cancelation of the Atlantic Coast Pipeline (ACP) by Dominion Energy announced earlier this month (see