Last August MDN told you about a project in Keene, NH to convert an existing (antiquated) propane delivery system for the 1,200 customers in Keene over to cheaper, more abundant natural gas (see NH Utility Gets OK to Convert Some Customers from Propane to NatGas). The project continues, despite a lawsuit.
Read More “Plans to Convert Keene, NH to NatGas Continue, Despite Court Case”
Yesterday MDN told you that 16 highly partisan, far-left Democrat attorneys general had filed comments opposing President Trump’s plan to allow LNG (liquefied natural gas) to be transported by special rail cars (see 16 Democrat State AGs Oppose Trump Plan to Ship LNG via Rail). Just coming to light are comments filed by the National Transportation Safety Board (NTSB) also opposing the new LNG-by-rail regs, as written. However, there’s a big difference between the 16 Dem AGs and NTSB objections…
Read More “NTSB Urges Changes to PHMSA LNG-by-Rail Regs”
NATIONAL: Group intervenes in New York’s Exxon case, seeking communications with activists; The effect of oil prices on natural gas production; U.S. energy exports to climb as China pledges ramp-up in purchases; Better days ahead for battered oilfield services sector; Democrats’ Green New Deal becomes the CLEAN Future Act; INTERNATIONAL: Data “free-for-all” after talks with shale producers: OPEC.
Read More “Shale Energy Stories of Interest: Thu, Jan 16, 2020”
On Monday EQT, the nation’s largest natural gas producer (based in Pittsburgh) filed an update with the SEC to say it would write down the value (called an impairment) for some of it’s Marcellus/Utica assets–to the tune of $1.8 billion (see EQT to Write Down Up to $1.8 Billion in M-U Assets for 4Q19). Also in Monday’s update is the news that EQT is recognizing a 20% reduction in the value of its reserves (not as much as can be extracted profitably at current prices). Given Monday’s news, the analysts at Moody’s Investors Service downgraded some of EQT’s debt (notes), to junk status.
Read More “Moody’s Downgrades EQT Debt to Junk Status Following Write-Down”
A small LNG export facility project at a site on the St. Johns River in Jacksonville, Florida first appeared on our radar in November 2018 when the Federal Energy Regulatory Commission granted it a favorable environmental impact statement. Since that time the Eagle LNG export project has received tax incentives from the City of Jacksonville, and last September FERC gave the project final approval to proceed (see FERC Grants Final Approval to Jacksonville, FL LNG Export Plant). The project is now getting real. Eagle just announced they’ve hired Matrix Service to build the facility.
Read More “Eagle Hires Matrix to Build Jacksonville, FL LNG Export Plant”
A slight tweak and correction to a story we ran last week in which we speculated that the first four mini-trains at Kinder Morgan’s Elba Island LNG export facility are now up and running (see KM’s Elba Island LNG Makes Rapid Progress, Units 1-4 Now Online). We told you we could not find evidence in the FERC dockets that Unit #2 was in fact up and running, but we assumed it was. It was not. On Monday KM asked the Federal Energy Regulatory Commission (FERC) for permission to start up Unit #2, saying it would be ready to rock-n-roll beginning tomorrow, Jan. 16. Our timing was just a tad off.
Read More “KM’s Elba Island LNG Asks FERC for OK to Start Up Unit 2”
In December, Blackstone Infrastructure Partners, a major energy investment firm, announced it had cut a deal to buy the remaining shares of stock it doesn’t already own in Tallgrass Energy for $3 billion, with a plan to take the company private (see With Tallgrass Founder/CEO Gone, Blackstone Forces Sale/Merger). As we previously pointed out, Tallgrass Founder and CEO David G. Dehaemers Jr. has cashed in his chips and retired, clearing the way for William R. (Bill) Moler to take over as CEO. We now have a second high-level change in the company–a new Chief Financial Officer.
Read More “More Changes at the Top for Tallgrass – New CFO”
Last April President Trump issued an Executive Order directing the Secretary of Transportation to write a new rule allowing specially constructed tanker cars for railroads (DOT-113 tank cars) to ship LNG, i.e., liquefied natural gas (see Here Come the “Bomb Trains” – Trump to Allow LNG by Rail). The U.S. Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA), in coordination with the Federal Railroad Administration (FRA), issued a “Notice of Proposed Rulemaking” (draft regulations) to move the process forward in October (see US DOT Gets Serious About LNG by Rail – Publishes Proposed Rules). Monday was the final day for comments on the proposed rules. Unsurprisingly 16 uber-partisan Democrat state attorneys general filed a joint letter opposing the new regs.
Read More “16 Democrat State AGs Oppose Trump Plan to Ship LNG via Rail”
In December 2017 MDN told you about the bastardization of our justice system by Michael Bloomberg. Bloomberg funneled money to New York University (NYU) School of Law which in turn pays to hire radical (Democrat) attorneys to work inside the offices of the attorneys general in 10 different states, including Pennsylvania (see NYU Buying Frivolous Enviro Lawsuits by Hiring Lawyers for State AGs). The aim of hiring these lawyers to work alongside AGs is to launch lawsuits to “protect” the environment–i.e. sue fossil fuel companies. It is a gross perversion of our justice system and MUST STOP.
Read More “Bloomberg Lawyers in State AG Offices “Political Mercenaries””
BlackRock Inc. is the world’s number #1 asset manager–with nearly $7 trillion in investments. The company invests in a LOT of companies that produce or are dependent on the production of fossil fuels. Important company to our industry. BlackRock CEO Larry Fink, in a pair of letters (one to CEOs and one to investors) has just signaled BlackRock will begin to move away from fossil fuel investments. But (and this is a big but), it won’t happen overnight.
Read More “World’s Top Investment Firm to Phase Out Fossil Fuels, Eventually”
MARCELLUS/UTICA REGION: ODNR issues 4 Utica drilling permits; W.Va. 2/I-68 authority searching for support; OTHER U.S. REGIONS: Tractor trailer carrying natural gas hits plow, tips over on I-95 in Maine; NATIONAL: New electric generating capacity in 2020 will come primarily from wind and solar; PHMSA issues final rule for underground natural gas storage facilities; INTERNATIONAL: Encana shareholders overwhelmingly OK moving to Denver, rebranding as Ovintiv.
Read More “Shale Energy Stories of Interest: Wed, Jan 15, 2020”
A long-simmering dispute between the Pennsylvania Dept. of Environmental Protection (DEP) and Range Resources has once again erupted into the public over allegations that a Range well drilled in Lycoming County, PA back in 2011 is leaking methane into the surrounding ground and water supplies. The DEP has, for years, maintained faulty cement casing allows methane to leak, and Range maintains methane was already in the ground/water supply before it drilled the well. Who’s right?
Read More “PA DEP Orders Range to Fix Leaking Gas Well in Lycoming County”
In a Securities and Exchange Commission (SEC) filing made yesterday, EQT, the country’s largest natural gas producer, informed the SEC (and investors) it will likely take an impairment charge (“write down”) for the value of some of its Marcellus/Utica assets–by $1.4 to $1.8 billion. Which pales in comparison to Chevron’s write down of it’s M-U assets to the tune of $5+ billion (see Chevron Writes Down $5B+ in Marc/Utica Assets, Looks to Sell All).
Read More “EQT to Write Down Up to $1.8 Billion in M-U Assets for 4Q19”
Just coming to light for us now is a report issued by the Pennsylvania Independent Fiscal Office (IFO) that estimates the amount of gas production royalties paid by drillers to landowners for calendar year 2017 (the most recent year available). It’s a fascinating report that breaks down royalty payments by the eight top gas-producing counties in the state. You may be surprised to learn the county producing the most natural gas in the state (Susquehanna County) does NOT, in fact, pay out the most in landowner royalties.
Read More “New IFO Report: PA Shale Drillers Paid $1.5B in Royalties in 2017”
MDN previously told you about unconfirmed rumors that the FBI is investigating the PA Gov. Tom Wolf administration over how permits came to be issued for the Mariner East 2 pipeline project (see FBI Investigates Wolf Admin for Corruption re ME Pipe Permits). The allegation/rumor is that Wolf and/or members of his staff pressured the Dept. of Environmental Protection (DEP) to approve permits for the pipeline project in return for something (money or something else). Two different law firms seized on the rumor as reason enough to launch speculative class action lawsuits for shareholders, accusing Energy Transfer (the builder) of corruption (see 2nd Class Action Lawsuit Against ET/Sunoco re Mariner East Pipe). A third such lawsuit was filed last week–this one by a public employee retirement fund.
Read More “3rd Lawsuit Filed Against Energy Transfer re Mariner Corruption”
In December the Federal Energy Regulatory Commission (FERC) issued a final approval for the Adelphia Gateway pipeline project (see FERC Issues Final OK for Southeast PA Adelphia Gateway Pipeline). Adelphia is a plan to convert an old/existing oil pipeline stretching from Northampton County, PA through Bucks, Montgomery, and Chester counties, terminating in Delaware County at Marcus Hook, into a natural gas pipeline. To flow Marcellus gas to southeast PA. The builder lacked one key ingredient–the pipeline!
Read More “Talen Energy Sells PA Pipeline to Adelphia Gateway for $155M”