Phase II of Hillabee Expansion Goes Live, M-U Gas to Florida
Last week MDN told you that the second phase of Sabal Trail, a $3.2 billion, 515-mile interstate natural gas pipeline in Florida, Georgia, and Alabama to deliver (in part) Marcellus gas to the southeast was approved by the Federal Energy Regulatory Commission (FERC) and is coming online now (see FERC OKs Extra Compression on Sabal Trail Pipe, M-U Gas to FL). Sabal Trail connects to Williams’ Hillabee Expansion Project, which is a pipeline spur built off the huge Transco pipeline system.
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LNG Limited (LNGL), based in Australia, has been working on a couple of North American LNG export projects over the past half-decade or more. One of them, called Bear Head, would be built in Nova Scotia, Canada and (potentially) export Marcellus/Utica molecules. The other, Magnolia LNG, would be located in Louisiana and yes, potentially export M-U molecules as well. LNGL was in the process of selling itself and its LNG projects to Singapore investor LNG9 PTE for $75 million when LNG9 pulled out of the deal (see 
OTHER U.S. REGIONS: Exxon, Chevron slam brakes on shale as oil demand tumbles; Transitioning to natural gas powered (and quiet!) trucks; NATIONAL: Solar, wind energy struggle as coronavirus takes toll; Trump signs order to protect the U.S. electricity system; The Great Shale Shut-in has begun, making good on Trump’s pledge; Justifications, complications and ramifications of crude well shut-ins.
Antero Resources issued its first-quarter 2020 update yesterday, delivering outstanding earnings guidance that “completely caught Wall Street and the bears off guard.” Management cut 2020 capex by $250 million, to $750 million (41% lower than 2019) while maintaining current production. Antero said it will hit $175 million free cash flow *this year* by spending less and producing the same.
Like Chesapeake Energy last week and Williams in late March, the Gulfport Energy board has decided to swallow a poison pill. Some companies call poison pills a “stockholder rights agreement” or a “shareholder rights plan.” In Gulfport’s case, they call it a “tax benefits preservation plan.” It doesn’t matter what you call it, it’s all the same thing. It’s a provision that defends the company against a takeover.
Last July MDN broke the news that LOLA Energy had filed a lawsuit in Greene County, PA against EQT for allegedly drilling shale wells under property EQT formerly leased, but property for which the leases had lapsed and were subsequently scooped up by LOLA Energy II (see 
Not unsurprisingly, the U.S. rig count (for both oil and gas, although mainly oil) continues to plummet week after week. The latest numbers show rigs taken out of active duty (laid down) decreased another 59 over the past week. That’s better than the 76 laid down the week before (see 
Everyone is still trying to get their heads around what has and is happening to the economies and energy markets around the world, suffering huge blows from being shut down due to the COVID-19 coronavirus pandemic. Everyone has their own models and predictions. The latest is the International Energy Agency which has just published its World Energy Review–an analysis of how the virus pandemic is likely to affect world energy markets based on what has happened over the past 100 days.
Each year the folks at Petrochemical Update (now owned by Reuters Events) hosts two concurrent events in Houston, Texas: 
It’s not a done deal yet, but according to sources willing to speak with Reuters, Chesapeake Energy is preparing the paperwork for a bankruptcy filing as one of its options to deal with debt payments it likely will not be able to pay this year. This should not be a surprise to anyone. We’ve been warning about a potential bankruptcy filing since last November (see 
In a piece of stellar investigative journalism and reporting, MDN friend Bob Downing (at 
