Tri-Point OFS Liquidating Assets in June Online Auction
Tri-Point, LLC is an oilfield services company (OFS) specializing in products and services for drillers and pipeline companies. Tri-Point is headquartered in Houston, Texas but has a number of field offices, including an office in Towanda (Bradford County), PA that services the Marcellus industry. Sadly the company is in bankruptcy. We spotted an announcement about a virtual auction later this month to sell off/liquidate all of the company’s assets.
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The Federal Energy Regulatory Commission (FERC) has just released a new “instant final rule” that, from what we can tell, pretty much does away with a concept called tolling orders when approving new pipeline projects. A tolling order has been an important tool for FERC in combating frivolous lawsuits filed against every single new pipeline project. A tolling order allows FERC to delay deciding on what is called a rehearing request. Antis can’t trot off to find their favorite Obama judge until FERC either performs a rehearing or rejects a rehearing request. Tolling orders delay that process, allowing pipeline projects to actually get built.
OTHER U.S. REGIONS: Natural gas supply from Oklahoma to Upper Midwest plummets over past month; NATIONAL: EIA expects 2020 summer U.S. electricity demand to be lowest since 2009; The mood in U.S. shale slowly shifts to one of cautious optimism about the future; INTERNATIONAL: Asia’s saturated market pushes Australia LNG cargo to Mexico in a rare trade; The world’s top LNG trader is predicting a natural gas comeback.
Yesterday MDN brought you the news that Chesapeake Energy’s stock price had risen some 500% over the previous two days (see 
Going back a year (beginning June 2019) MDN has brought you news about Edge Gathering Virtual Pipelines 2 LLC (EDGE), a company that deploys special LNG units to remote Marcellus wells in PA, converting gas from the well into LNG and selling that gas (
In May 2019, Weatherford International, the world’s fourth-largest oilfield services (OFS) company, finally succumbed and announced it was filing for a “prepackaged” bankruptcy (see 
Amid all of the frivolous lawsuits and regulatory actions brought by Big Green, aimed at blocking progress on important projects like the 303-mile Mountain Valley Pipeline (MVP) that runs from West Virginia to southern Virginia (90% complete), progress is still happening for new pipeline projects. One of those new projects is MVP Southgate, a 75-mile extension of MVP that will run from southern Virginia into North Carolina.
The Pennsylvania legislature has taken the next step in overturning a naked power-grab by Gov. Tom Wolf in his bid to force the state to join a carbon tax scheme called the Regional Greenhouse Gas Initiative (RGGI). Yesterday the PA House Environmental Resources and Energy Committee approved House Bill (HB) 2025 aimed at blocking RGGI without a proper vote by the legislature first. HB 2025 now goes to the full House for a vote.
Two weeks ago MDN told you that PricewaterhouseCoopers (PWC), which had been hired to liquidate the assets of Australian company LNG Limited (LNGL), had found a second buyer for the Magnolia LNG export project for $2 million (see 
The world of LNG is sometimes a strange world for us. NGI (Natural Gas Intelligence) is reporting an LNG cargo ship loaded with LNG from Nigeria is steaming toward North America. LNG cargoes are notorious for changing routes at the last minute, given the wheeling and dealing that takes place between buyers and sellers. However, the latest intel has the Nigerian LNG cargo heading for…Elba Island, Georgia? That’s right. An imported load of LNG coming to an LNG export facility. Why?
EQT Corporation, the largest natural gas producer in the country (based in Pittsburgh) wants to double the number of shares of common stock from 320 million to 640 million–the first time it has increased shares of common stock in 25 years. Why?
Last December Chevron announced it was writing down the value of its Marcellus/Utica assets and putting those assets up for sale (see 
The Susquehanna River Basin Commission (SRBC), the quasi-governmental agency tasked with overseeing water usage within the Susquehanna River Basin, has been a huge success with respect to partnering with the Marcellus Shale drilling industry. The SRBC recently updated a report (summary below) reviewing shale water usage drawn from the basin from 2008 to 2018. The report finds shale water usage has risen to become the #3 source of water used in the river basin–although shale usage of basin water is still a small fraction of that by larger users, including municipalities and electric power generation.