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Marcellus Drilling News
  • Anti-Drilling/Fossil Fuel | Belmont County | Energy Services | Ethane | Industrywide Issues | Marshall County | Ohio | Processing Plants | PTT Global | West Virginia

    Big Green Tries to Whip Up Opposition to PTT Ohio Cracker

    January 13, 2020January 13, 2020

    Big Green is doing its best to stir up opposition to PTT Global Chemical’s proposed ethane cracker plant in Belmont County, Ohio. Big Green is also trying to hide its involvement and pass itself off as organic, local community opposition. Not true. Last week the same so-called community organizer addressed an anti meeting at a local church and organized a “protest” a few days later.
    Read More “Big Green Tries to Whip Up Opposition to PTT Ohio Cracker”

  • Bradford County | Industrywide Issues | Pennsylvania | Supply Chain

    Logistics Co. Opens Warehouse in Bradford, PA Targeting Marcellus

    January 13, 2020January 13, 2020

    Phoenix Logistics, headquartered in Milwaukee, Wisconsin, targets supply chain companies in a number of industries with warehousing, distribution, and transportation. One of the industries they target is the oil and gas sector. Phoenix has just opened a new 400,000 square foot warehousing facility in Athens (Bradford County), PA, targeting companies in the Marcellus.
    Read More “Logistics Co. Opens Warehouse in Bradford, PA Targeting Marcellus”

  • Energy Services | New Fortress Energy

    New Fortress Energy Gets $800M Loan to Build LNG Projects

    January 13, 2020January 13, 2020

    New Fortress Energy has a unique business model. The company builds the plants to liquefy and export natural gas (LNG), the facilities (in other countries) to import the LNG, and even some of the gas-fired power plants that will use the gas to produce electricity in those countries. Our primary interest in New Fortress is a series of LNG export plants they are building in landlocked northeastern Pennsylvania (see Work Continues to Clear Site for NEPA Landlocked LNG Export Plant). The company has just signed a deal for $800 million loan to fund its LNG “terminals and infrastructure around the world.”
    Read More “New Fortress Energy Gets $800M Loan to Build LNG Projects”

  • Anti-Drilling/Fossil Fuel | Energy Services | Industrywide Issues | PennEast Pipeline

    THE Dela. Riverkeeper Tries to Shame FERC to Reject PennEast Pipe

    January 13, 2020January 13, 2020

    Last week three Big Green groups–the New Jersey Conservation Foundation, The Watershed Institute, and THE Delaware Riverkeeper–asked the Federal Energy Regulatory Commission via a joint letter to not issue an extension to the PennEast Pipeline, long-delayed largely because of those groups’ ongoing lawsuits (see Big Green Groups Ask FERC to Deny PennEast Pipe More Time). Two days later THE Delaware Riverkeeper sent a followup letter to FERC to make “further comments” bashing PennEast.
    Read More “THE Dela. Riverkeeper Tries to Shame FERC to Reject PennEast Pipe”

  • Energy Companies | Exxon Mobil | Industrywide Issues | Litigation | New York | Statewide NY

    NY AG Gives Up on Trying to Shake Down Exxon After Court Decision

    January 13, 2020January 13, 2020

    As we reported in December, New York Attorney General Tish James and her highly-paid associates were thoroughly, completely, 100% humiliated in court when their case against Exxon Mobil accusing the company of screwing shareholders by keeping secret knowledge they are toasting Mom Earth, is itself toast (see Judge Finds Exxon Not Guilty in Fraud Case – NY AG Humiliated). Exxon is being sued by other states, including Massachusetts, for the same thing. Those cases are also close to collapse. The good news is that Tish has had enough humiliation–she won’t appeal the Exxon case to a higher court. That is, NY has lost, Exxon has won. There is still justice in the wacky world of New York State–who knew?
    Read More “NY AG Gives Up on Trying to Shake Down Exxon After Court Decision”

  • Best of the Rest

    Shale Energy Stories of Interest: Mon, Jan 13, 2020

    January 13, 2020January 13, 2020

    NATIONAL: E&Ps continuing to pull back as U.S. rig count plunges further; Energy sector predictions for 2020; Mild winter sends U.S. natural gas prices tumbling; INTERNATIONAL: BC authorities investigating deadly traps discovered along Coastal GasLink route; Russian gas pipeline to Europe faces delay due to U.S. sanctions.
    Read More “Shale Energy Stories of Interest: Mon, Jan 13, 2020”

  • Industrywide Issues | Pennsylvania | Statewide PA | Taxation

    IFO Projects 2019 PA Impact Fee Revenue Fell by $53.6M (21%)

    January 10, 2020January 10, 2020

    In 2019 Pennsylvania raised a record high of $247 million from its version of a severance tax, called an impact fee, based on drilling activity from 2018 (see PA IFO Report Says Record High Impact Tax for 2018 – $247M). The state’s Independent Fiscal Office (IFO) is out with projections for how much revenue will be raised this year (based on drilling in 2019). Given we hit a downturn last year, you won’t be surprised to learn the impact fee will drop by $53.6 million (21%), to a projected $198.2 million.
    Read More “IFO Projects 2019 PA Impact Fee Revenue Fell by $53.6M (21%)”

  • Bradford County | Industrywide Issues | Leatherstocking Gas | M&A | Pennsylvania | Pipelines | Statewide PA | Susquehanna County

    Corning Gas Buys Out JV Partner in PA Leatherstocking Gas & Pipe

    January 10, 2020January 10, 2020

    Corning Natural Gas (based in Corning, NY) has a 50% joint venture partnership in Leatherstocking Gas Company and Leatherstocking Pipeline Company with another Upstate NY-based company, Mirabito. Leatherstocking runs gas mains to residents and businesses in small, mainly rural communities–like Montrose, PA (see PA Rural Residents Burn Marcellus Gas, Save Big Bucks on Heating). Corning announced yesterday they are buying out Mirabito’s 50% interest on the PA side of the border.
    Read More “Corning Gas Buys Out JV Partner in PA Leatherstocking Gas & Pipe”

  • Industrywide Issues | Research

    Platts: Nat Gas Production in M-U Declined 1 Bcf/d Last 30 Days

    January 10, 2020January 10, 2020

    Three weeks ago MDN told readers the U.S. Energy Information Administration (EIA) predicts a slight reduction in Marcellus/Utica production will happen this month–that M-U will produce an estimated 74 million cubic feet per day (MMcf/d) less in January than we did in December (see EIA Dec ’19 Drilling Report: M-U Production Drops 1st Time in Yrs). However, Platts Analytics says over the past 30 days the M-U has produced roughly 1 billion cubic feet per day (Bcf/d) less than it did over the average in 4Q19.
    Read More “Platts: Nat Gas Production in M-U Declined 1 Bcf/d Last 30 Days”

  • Industrywide Issues | Pipelines | Regulation

    Trump Seeks to Speed Up Pipeline Projects by Tweaking NEPA Law

    January 10, 2020January 10, 2020
    regulations

    Yesterday President Trump announced a list of proposed changes to the 50-year-old National Environmental Policy Act (NEPA) in an effort to strip away some of the governmental red tape that’s built up over the years like plaque in an artery, preventing important infrastructure projects like pipelines, dams, bridges and roads from getting built. Over the past 20 years or so the left has become adept in their use of NEPA to block new projects, claiming environmental harms. Trump wants to reverse that trend. And that drives extremist greens berserk.
    Read More “Trump Seeks to Speed Up Pipeline Projects by Tweaking NEPA Law”

  • Commodity Price | Industrywide Issues

    EIA: 2019 Natural Gas Prices Lowest in 3 Years

    January 10, 2020January 10, 2020

    The researchers at the U.S. Energy Information Administration (EIA) have done a deep dive into natural gas prices from 2019 and found the average spot price at the Henry Hub last year was $2.57 per thousand cubic feet (Mcf), down about 60 cents from 2018’s average price. Ouch. The researchers tease out the factors that influenced prices last year, pushing it higher (in some cases) and lower (in others). It is useful analysis, giving us a window into what may happen this year.
    Read More “EIA: 2019 Natural Gas Prices Lowest in 3 Years”

  • Best of the Rest

    Shale Energy Stories of Interest: Fri, Jan 10, 2020

    January 10, 2020January 10, 2020

    MARCELLUS/UTICA REGION: Natural gas company donates to West Liberty Elementary’s STEM program; Montage Resources – Too many buffalo at the same waterhole; NATIONAL: Net US oil, gas rig count falls one to 835, gas rigs lowest since late 2016; U.S. weekly LNG exports jump; FERC continues with two vacancies — for now; Parsley energy boss says shale will finally deliver returns this year; Cummins Westport natural gas engine receives near zero emissions certification; Medical journal declares war on natural gas; INTERNATIONAL: The world’s next energy bonanza.
    Read More “Shale Energy Stories of Interest: Fri, Jan 10, 2020”

  • Electrical Generation | Harrison County | Industrywide Issues | Ohio

    EmberClear’s Cadiz, OH Gas-Fired Power Plant Project Heats Up

    January 9, 2020January 9, 2020

    In September 2016, MDN reported that EmberClear has plans to fund and build a new $900 million electric generating plant in Harrison County, OH (see $900M Utica Gas-Fired Electric Plant Coming to Harrison County, OH). The Harrison Energy Center project was supposed to begin construction by the end of 2018, which didn’t happen. Then it was supposed to begin construction by mid-2019 (see EmberClear’s Cadiz, OH Gas-Fired Power Plant Slightly Delayed). That didn’t happen either. We now have a new timeline and important news about the project.
    Read More “EmberClear’s Cadiz, OH Gas-Fired Power Plant Project Heats Up”

  • Economic Impact | Ethane | Industrywide Issues | Regulation | Statewide WV | West Virginia

    WV Bill Would Establish Fund to Kick-start NGL Hub, Reassure China

    January 9, 2020January 9, 2020

    The West Virginia legislature kicked off its 2020 60-day session yesterday with a bang–at least for the shale energy industry. House Speaker Roger Hanshaw introduced House Bill 4001, aimed at reassuring China it’s OK to begin investing some of that $84 billion they promised to invest in WV’s shale and downstream sector. The bill also would help fund the Appalachian NGL Storage and Trading Hub project and other big petrochemical projects (maybe even a cracker plant!).
    Read More “WV Bill Would Establish Fund to Kick-start NGL Hub, Reassure China”

  • Energy Companies | Range Resources Corp

    Range Refinancing $500M in Debt, Writing Down Value of LA Shale

    January 9, 2020January 9, 2020
    click for larger version

    Yesterday Range Resources issued a couple of press releases detailing a plan to buy back $500 million of outstanding notes (i.e. IOUs) issued in years gone by and due payable in 2021/2022, by generating a new pot of $500 million by issuing new notes payable in 2026. The company also filed an SEC Form 8-K that mentions they will write down the value of their Louisiana shale assets. However, the company says it will not write down the value for their Marcellus/Utica assets.
    Read More “Range Refinancing $500M in Debt, Writing Down Value of LA Shale”

  • CNX Resources | Energy Companies | Olympus/Huntley & Huntley

    Former CNX COO Tim Dugan Becomes Olympus Energy COO

    January 9, 2020January 9, 2020
    Tim Dugan

    Tim Dugan, formerly the Chief Operating Officer (COO) at CNX Resources (recently retired) has joined Olympus Energy as their COO. Olympus, you may recall, used to be called Huntley & Huntley (see PA Driller HHEX Renames Itself Olympus Energy).
    Read More “Former CNX COO Tim Dugan Becomes Olympus Energy COO”

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