Gulfport Fires 13% of Workers, Ends Stock Buy-Back, Board Changes
Gulfport Energy, one of the biggest drillers in the Ohio Utica Shale (210,000 acres), concentrates its drilling in the Ohio Utica and the Oklahoma SCOOP plays. A few weeks ago the company announced they are shopping some of their non-operated assets in the Ohio Utica (see Gulfport 3Q – Looking to Sell Non-Operated Utica Assets). This morning the company made another major announcement: They are laying off 13% of the workforce, ending (for now) their stock share buy-back program, and “refreshing” the board with three new members.
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The Appalachia Development Group (ADG) is leading an effort to build a ~$3.3 billion NGL storage hub in Appalachia. From the start, the thinking has been the storage hub would be located somewhere in West Virginia (see 
Some Marcellus/Utica gas flows all the way to the Midwest, to markets that include Chicago and St. Louis. Last week we reported that the Spire STL Pipeline is ready to begin service, connecting to the Rockies Express (REX) pipeline to flow M-U gas to the St. Louis area (see 
A leftist anti-fossil group calling itself Protect PT, in Penn Township (Westmoreland County), PA, backed with big money from Big Green groups, continues to sue in an effort to block shale drilling in the township. And they keep losing their lawsuits. Protect PT has launched multiple challenges to a local Penn Township ordinance which allows Apex Energy and Huntley & Huntley to drill and operate wells.
Drilling is great for local counties when it arrives. Especially for the “supply chain” in those counties–companies that sell goods and services to drilling companies. Everything from retail to convenience stores to restaurants to hotels to trucking companies and more. But what about businesses in nearby counties without any drilling activity? Is there any way they can share in the bounty too? There sure is!
Does anyone else grow weary of pompous Democrat windbags in high elected office in Pennsylvania posturing and preening to be the next gubernatorial candidate? PA’s leftist Attorney General Josh Shapiro is certainly one of them (see 
MARCELLUS/UTICA REGION: ODNR grants 6 permits for Utica drilling; FERC sets review schedule for extension to Transco’s Atlantic Sunrise; Cuomo’s carbon casualties; PA Governor’s office transfers $45 million to augment DEP, DCNR budgets; Shale academy obtains grant; Preston High School seniors take part in free oil and natural gas course; Cabot Oil & Gas completes divestiture of ownership in Meade Pipeline Co; Shell VP shrugs off mayor’s anti-petrochemical industry comments; OTHER U.S. REGIONS: Is Chesapeake about to sell its Haynesville assets to Comstock?; Vermont Gas launches climate-friendly rebranding effort; NATIONAL: Permian, Marcellus rigs fall as U.S. drilling declines continue apace; U.S. frack sand suppliers latest casualties in shale industry slump; Natural gas corrects – let the wild ride begin; INTERNATIONAL: PGNiG informs Gazprom of natural gas supply deal termination; EU to end all fossil fuel lending in two years.
In September, the U.S. Court of Appeals for the Third Circuit issued a precedent-setting decision that disallows PennEast Pipeline from using the federally-delegated power of eminent domain to cross properties either owned by, or with easements granted to, the state of New Jersey (see 
Man-child Andrew Cuomo, “governor” of New York State, is a truly desperate man. And desperate, corrupt politicians like Cuomo do desperate, mean, vicious and corrupt things–especially to protect their own backsides. Cuomo is following through on a recent threat he made to de-certify National Grid’s natural gas utility service that serves all of Long Island and parts of New York City. Just take it away from National Grid and (very corruptly) give it to another company (no doubt with lots of kickbacks to Cuomo’s campaign to follow).
The Risberg Line, a 60-mile pipeline from Crawford County, PA to Erie County, PA, and from there across the border into Ashtabula County, OH, began construction in February (see 
Left-wingers opposed to fossil fuels have apparently infiltrated the non-profit Allegheny Conference on Community Development (Pittsburgh region), and Marcellus/Utica driller CNX Resources, one of the Conference’s corporate members, is quitting because of it. It’s about time our industry stops supporting leftist causes that seek to end the use of fossil fuels.
Montage Resources, which formed in a merger of Eclipse Resources and Blue Ridge Mountain Resources (formerly Magnum Hunter Resources) in March of this year, announced in July they would cut back from two to one active drilling rig in the second half of 2019 (see