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Marcellus Drilling News
  • Energy Services | Industrywide Issues | Keystone Clearwater Solutions | Wastewater

    Keystone Clearwater “Comes Home” to Former Owner, Sale Complete

    December 18, 2019December 18, 2019

    Keystone Clearwater Solutions, a company that provides water services for shale drillers in the Marcellus/Utica, is “coming home” in a sense. We told you in November that SC Water, LLC, a Pennsylvania-based natural gas and oil industry investment group, announced it had signed an agreement to buy Keystone Clearwater from American Water for an undisclosed amount (see American Water Selling PA Frack Water Co. Keystone Clearwater). The deal is now done and ownership has transferred.
    Read More “Keystone Clearwater “Comes Home” to Former Owner, Sale Complete”

  • BKV/Banpu | Devon Energy | Energy Companies

    Banpu Invests Another $770M in Shale – but Not in PA Marcellus

    December 18, 2019December 18, 2019
    Devon’s Barnett acreage purchased by Kalnin/Banpu (click for larger version)

    Just yesterday MDN ran a story about a ceremony held by Thailand’s Banpu in opening a new regional office in northeastern Pennsylvania, an indication of their commitment to the PA Marcellus where they’ve (so far) invested $500 million (see Banpu Opens New $5M Marcellus Operations Office in NEPA). And just like that, Banpu bought out all of Devon Energy’s Barnett Shale assets in Texas–spending $770 million to do so. Which points out yes, drillers and investors DO have choices and yes, their money WILL leave Pennsylvania (and Ohio and West Virginia) if the economics make more sense elsewhere.
    Read More “Banpu Invests Another $770M in Shale – but Not in PA Marcellus”

  • Energy Services | Tallgrass Energy

    With Tallgrass Founder/CEO Gone, Blackstone Forces Sale/Merger

    December 18, 2019December 19, 2019

    Several weeks ago the founder and CEO of Tallgrass Energy, David G. Dehaemers Jr., abruptly quit the company retired (see Tallgrass Energy Founder/CEO/Chairman David Dehaemers Retires). Blackstone Infrastructure Partners, a major Tallgrass investor, wants to buy the company and take it private. That is, a takeover. Dehaemers was not happy but couldn’t prevent it, so he left. With Dehaemers out of the way, Blackstone sealed the deal. [Correction: MDN was contacted by Tallgrass to set the record straight. David Dehaemers telegraphed back in January he would likely not remain with the company after 2019. This was, indeed, a retirement and he was not (as MDN had implied) forced out. We regret the error and send our apologies to Tallgrass.] Yesterday Tallgrass issued a statement to say Blackstone, using its own considerable pile of cash along with money from several others, has signed a deal to buy Tallgrass.
    Read More “With Tallgrass Founder/CEO Gone, Blackstone Forces Sale/Merger”

  • Energy Services | Weatherford Intl

    Weatherford Emerges from Bankruptcy “Stronger” and “More Focused”

    December 18, 2019December 18, 2019

    In May, Weatherford International, the world’s fourth largest oilfield services (OFS) company, finally succumbed and announced it was filing for a “prepackaged” bankruptcy (see Weatherford Finally Files for “Prepackaged” Bankruptcy). Last week the company emerged from bankruptcy having wiped out $6.2 billion of debt by giving new stock to debtholders and making existing stock worthless.
    Read More “Weatherford Emerges from Bankruptcy “Stronger” and “More Focused””

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Statewide PA

    Heinz Endowments’ Shale Assault Threatens Prosperous Pennsylvania

    December 18, 2019December 18, 2019

    The Heinz Endowments, a grantmaking organization in Pittsburgh, Pennsylvania that sits under the thumb of Mamma Teresa Heinz Kerry (wacko lefty Democrat), has long been viewed as a community pillar in western Pennsylvania. What you may not know is that Heinz Endowments has spent over $120 million in “environmental grants” between 2008 and 2016, much of that money funding anti-shale and anti-fossil fuel campaigns. The Heinz Endowments is no friend to the working class in western PA.
    Read More “Heinz Endowments’ Shale Assault Threatens Prosperous Pennsylvania”

  • Best of the Rest

    Shale Energy Stories of Interest: Wed, Dec 18, 2019

    December 18, 2019December 18, 2019

    MARCELLUS/UTICA REGION: A natural gas blowout in Ohio released more methane than many countries do in an entire year; Natural gas initiative shifts to statewide action; Oil and Gas industry partners with first responders; NATIONAL: Is Wall Street turning its back on fossil fuels?; Aly Energy Services, Inc. goes dark, no longer filing SEC updates; Fight over flaring: Industry, enviros contrasting accounts over burning excess natural gas; Michael Moore & Me (video); INTERNATIONAL: Ontario expanding natural gas to more communities across Ontario.
    Read More “Shale Energy Stories of Interest: Wed, Dec 18, 2019”

  • Industrywide Issues | Research

    EIA Dec ’19 Drilling Report: M-U Production Drops 1st Time in Yrs

    December 17, 2019December 17, 2019

    Last month MDN warned readers that we were likely at a peak, the point when the Marcellus/Utica would, after many years, begin to produce less natural gas each month than it had the month before (see EIA Nov ’19 Drilling Report: Permian Gas Grows More than M-U). Our prediction/caution has come true. According to the U.S. Energy Information Administration (EIA) and their monthly Drilling Productivity Report (DPR), the M-U region will produce 74 million cubic feet per day (MMcf/d) less in the coming month of January than it will have produced this month.
    Read More “EIA Dec ’19 Drilling Report: M-U Production Drops 1st Time in Yrs”

  • Energy Companies | EQT Corp | Forced Pooling | Industrywide Issues | Statewide WV | West Virginia

    EQT CEO Toby Rice Says WV Co-Tenancy Law May Not be Enough

    December 17, 2019December 17, 2019

    West Virginia’s co-tenancy law was signed into law by Gov. Jim Justice in March 2018 (see WV Gov. Justice Does 180 – Says He’ll Sign Co-Tenancy Bill). According to speakers at the West Virginia Oil and Natural Gas Association (WVONGA) 2019 Fall Meeting, the new law is working pretty well (see WVONGA Meeting: New Co-Tenancy Law Working, Still a Few Kinks). However, EQT CEO Toby Rice told WV legislators yesterday that co-tenancy may not go far enough for his company.
    Read More “EQT CEO Toby Rice Says WV Co-Tenancy Law May Not be Enough”

  • Chesapeake Energy | Energy Companies

    NYSE Warns Chesapeake Energy Stock to be Delisted…Unless

    December 17, 2019December 17, 2019

    Last week Chesapeake Energy received a notification from the New York Stock Exchange that its shares of stock have fallen below the $1/share threshold for more than 30 consecutive trading days and because of it, Chessy’s stock will be delisted from the exchange. Unless. Unless they can get the per share price over the $1/share average in a certain period of time. Chesapeake has responded they are taking several actions, the most relevant/likely being a reverse stock split.
    Read More “NYSE Warns Chesapeake Energy Stock to be Delisted…Unless”

  • Energy Companies | Montage Resources

    Montage Resources Gets New Chairman of the Board – Former CNX COO

    December 17, 2019December 17, 2019
    Randy Albert – Chairman, Montage Resources

    Montage Resources, which formed from a merger between Eclipse Resources and Blue Ridge Mountain Resources (formerly Magnum Hunter Resources) in March of this year, has a new chairman of the board–MDN friend Randy Albert, former/retired Chief Operating Officer for CNX Gas when it was still part of CONSOL Energy.
    Read More “Montage Resources Gets New Chairman of the Board – Former CNX COO”

  • BKV/Banpu | Energy Companies | Pennsylvania | Wyoming County (PA)

    Banpu Opens New $5M Marcellus Operations Office in NEPA

    December 17, 2019December 17, 2019
    New Banpu/BKV Operating office opens in Tunkhannock, PA

    Thailand’s largest coal producer, Banpu, is also a growing investor/operator in the northeast Pennsylvania Marcellus Shale. In June MDN brought you an update on a new $5 million facility being built by Banpu in Tunkhannock Township (Wyoming County), PA (see Progress on $5M Office in NEPA for Marcellus Co. from Thailand). We’re happy to report last week Banpu held the grand opening of their new office/facility in Tunkhannock.
    Read More “Banpu Opens New $5M Marcellus Operations Office in NEPA”

  • Energy Services | Industrywide Issues | New York | Pipelines | Regulation | Statewide NY | Williams

    FERC Upholds Decision to Allow NY Constitution Pipe Construction

    December 17, 2019December 17, 2019

    In August the Federal Energy Regulatory Commission (FERC) ruled that the New York Dept. of Environmental Conservation (DEC) took too long to deny a federal Clean Water Act “Section 401” water crossing permit for the Williams Constitution Pipeline project (see Victory! FERC Overrules NY DEC to Allow Constitution Pipeline). Which means the project is now back on, approved by FERC itself. The DEC, thoroughly corrupted and politicized by NY Gov. Andrew Cuomo, said it will “fight” FERC’s ruling (see NY DEC Will “Fight” FERC over Constitution Pipeline Decision).
    Read More “FERC Upholds Decision to Allow NY Constitution Pipe Construction”

  • Energy Companies | EQT Corp

    Last of EQT’s Old Mgmt Team Becomes President of Washington Gas

    December 17, 2019December 17, 2019
    Donald “Blue” Jenkins

    That was fast! In November MDN told you the last remaining member of EQT’s former top management team, Executive VP Donald “Blue” Jenkins, had proffered his resignation and would leave on Dec. 15 (see Last Remaining Member of “Old” EQT Exec Team Resigns). On Dec. 16, the very next day after leaving EQT, Jenkins became president of Washington Gas, a natural gas utility company in the Washington, DC area with more than a million customers. Blue landed on his feet.
    Read More “Last of EQT’s Old Mgmt Team Becomes President of Washington Gas”

  • Best of the Rest

    Shale Energy Stories of Interest: Tue, Dec 17, 2019

    December 17, 2019December 17, 2019

    MARCELLUS/UTICA REGION: Rockefeller director disappointed that the Rockefeller-funded Exxon investigation failed; Chevron starts divesting from region, selling this key site; Exxon’s big court win exposes major malpractice in the New York Attorney General’s Office; NATIONAL: Global warming facts, fear, foolishness and frauds; Bloomberg would shut down coal, gas plants if elected president; INTERNATIONAL: Foreign-funded attacks on Canada’s energy industry; China goes all-in on coal while telling the rest of the world to reduce emissions; Lawsuit: Apple, Google, Tesla profit from African child labor.
    Read More “Shale Energy Stories of Interest: Tue, Dec 17, 2019”

  • Industrywide Issues | Ohio | Research | Statewide OH

    Ohio Utica 3Q19 O&G Production New Record: Oil Up 30%, Gas Up 11%

    December 16, 2019December 16, 2019

    The Ohio Dept. of Natural Resources (ODNR) issued third quarter 2019 numbers for Utica shale oil and gas production last Friday. Drum roll please! The numbers show new state record highs for quarterly oil AND natural gas production, the most ever since quarterly reporting began in 2013. Through the roof! Utica oil production was up 29.8% over 3Q18, and Utica natural gas production was up 11.3% over 3Q18.
    Read More “Ohio Utica 3Q19 O&G Production New Record: Oil Up 30%, Gas Up 11%”

  • CNG/LNG | Energy Services | Exporting | Industrywide Issues | Kinder Morgan

    Elba Island Finally Exported First Marcellus LNG Cargo on Friday

    December 16, 2019December 16, 2019
    Maran Gas Lindos

    Last week MDN reported LNG tanker Maran Gas Lindos had docked and was thought to be loading what will be the very first shipment of Marcellus molecules to be exported from the Elba Island, Georgia LNG export facility (see Elba Island Exporting First Marcellus LNG Cargo This Week – Maybe). Although the Elba Island facility is six months or more behind schedule in going online, we’re happy (exhausted, actually) to report that the Maran Gas Lindos left dock Friday evening and is heading to Pakistan with the very first Marcellus LNG shipment.
    Read More “Elba Island Finally Exported First Marcellus LNG Cargo on Friday”

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