Here is what we believe to be an exclusive: In June, PennEnergy Resources sold/transferred four well pads (with multiple wells) located in Butler and Lawrence counties in western PA to Geopetro LLC. We have the names of the well pads and proof of the transfer. We’ve not seen this news anywhere else.
Read More “PennEnergy Sells 4 Well Pads, Multiple Wells to GeoPetro in W PA”
Since late last year we’ve tracked a lawsuit brought by radical antis and the City of Oberlin, OH against the long-completed NEXUS Pipeline project. Last Friday the D.C. Circuit Court of Appeals, the court that handles challenges to regulatory agencies like the Federal Energy Regulatory Commission (FERC), refused to drop the case and told FERC to once again try to justify the project in light that some of the gas gets exported to Canada.
Read More “DC Circuit Court/Antis Continue to Hassle Long-Done NEXUS Pipe”
Toby Rice, CEO and president of EQT, and Clay Carrell, COO and EVP of Southwestern Energy, recently had a sit down discussion about the state of the shale industry in the Marcellus/Utica and its importance to the economy of West Virginia. The discussion happened at the recent West Virginia Chamber of Commerce Annual Meeting and Business Summit. One surprising revelation for us: Carrell said Southwestern now spends most of its money on WV drilling.
Read More “EQT, Southwestern Top Brass Discuss State of WV O&G, Shale”
Schramm, headquartered near Philadelphia in West Chester, PA, is a major manufacturer of drilling rigs. In June the company filed for Chapter 11 bankruptcy protection due to the “prolonged downturn” (less drilling) in the oil and gas industry (see PA Rig Manufacturer Schramm Files for Ch. 11 Bankruptcy). From the beginning of the bankruptcy process, one of the company’s biggest creditors, DNOW LP, has challenged the Chapter 11 bankruptcy application–implying the bankruptcy as structured will hand over ownership to existing owners, preserving their equity in the company, at the expense of wiping out the company’s debts to companies like DNOW.
Read More “Schramm Scam? Debtor Owed Big Money Disputes Ch. 11 Sale Terms”
Last week CNN inflicted a seven-hour “town hall” discussion with Democrat presidential candidates about so-called climate change (man-made global warming) on its handful of viewers. Fox News’ Tucker Carlson called it an act of “wanton cruelty.” LOL! He’s right! Most reaction we’ve seen runs along the lines of, “They don’t really mean the crazy things they say, like banning all fracking the first day they get in office.” We’re not so sure. The one takeaway you get from CNN’s marathon session is that the Democrat Party and ALL of its leading candidates want to assassinate the oil and gas industry. No more fossil fuels. No more fracking. The prospect of any of them assuming office is frightening.
Read More “Leading Dem President Candidates Demand Frack Ban – Unrealistic?”
MARCELLUS/UTICA REGION: Natural gas finding niche in e-fracking, but diesel still rules; Women’s Energy Network Greater Pittsburgh Chapter announces awards from annual gala; OTHER U.S. REGIONS: Permian Basin natural gas prices up as a new pipeline nears completion; NATIONAL: No, shale’s not dying, it’s just maturing; Tucker Carlson: CNN’s town hall was not really about climate change, but about Dems controlling our lives.
Read More “Shale Energy Stories of Interest: Mon, Sep 9, 2019”
The new leadership at the top of EQT continues to have a major impact on the company and its relationship with landowners and (in this case) entire states. Last year EQT launched an effort to overturn WV’s Senate Bill (SB) 360 (see EQT Still Fighting WV Minimum Royalty Law for Flat Rate Leases). The new SB 360 law disallows post-production deductions for flat rate leases, ensuring landowners receive a minimum 12.5% royalty. In April 2018 EQT sued to overturn the original law (from 1982) on which SB 360 rests–the law that guarantees a 12.5% royalty. Get rid of the original law, and the later law (disallowing deductions) disappears too. Last week EQT filed a motion to withdraw its lawsuit.
Read More “EQT Drops WV Lawsuit re Post-Prod. Deductions on Flat Rate Leases”
FirstEnergy continues its desperate attempt to prevent a referendum measure from hitting the fall ballot in Ohio that would overturn a recently passed (very bad) law that bails out FirstEnergy’s failing nuclear power plants in the state to the tune of $1.5 billion. Earlier this week we told you FirstEnergy is running tinfoil hat commercials claiming China would soon control Ohio’s electric grid if the bailout bill is overturned (see FirstEnergy Runs Attack Ad, Claims China Controls OH NatGas Plants). Now FirstEnergy is asking the Ohio Supreme Court to block the ballot measure, denying voters the opportunity to vote.
Read More “FirstEnergy Asks OH Supreme Court to Block Bailout Referendum”
This story is befuddling–we’re still trying to wrap our heads around it. The North Carolina Utilities Commission has filed a protest with the Federal Energy Regulatory Commission (FERC) objecting to Williams’ Leidy South expansion project, a project that is being built 100% in Pennsylvania! Why are NC regulators objecting to work being done in another state 500 hundred miles away?
Read More “NC Regulators File Objection to Williams PA Leidy South Pipeline”
MDN first told you about plans to build the Chickahominy Power Station, a 1,650 megawatt state-of-the-art natural gas-fired power plant, in June 2018 (see Huge New Marcellus-Fired Power Plant Coming Near Richmond, VA). We’d not heard or read anything about the project since March of this year (see Marcellus-Fired Power Plant Project Near Richmond, VA Advances). However, there has been an important new development.
Read More “Virginia Approves Marcellus-Fired Power Plant Project Near Richmond”
Nine Energy Service, an oilfield services company that competes with companies like Halliburton and Baker Hughes, operates in a number of shale basins, including the Marcellus/Utica. Last October Nine bulked up by buying out Magnum Oil Tools, a “downhole technology” company (see Nine Energy Buying Magnum Oil Tools for $493M). Now Nine is slimming down by selling off its Production Solutions division (i.e. well services business) to Brigade Energy Services for $17 million. Along with the sale goes a reduction of 24% of Nine’s workforce.
Read More “Nine Energy Trims Down, Sells Production Solutions Biz”
What a breath of fresh air is Federal Energy Regulatory Commission (FERC) Chairman Neil Chatterjee. At an industry event earlier this week, Chatterjee told attendees that his agency should not unilaterally decide on the so-called impacts a given pipeline project may have on mythical man-made global warming. Instead, such a directive (to consider global warming impacts) should come from Congress via legislation. FERC can’t simply assume such authority. Finally! Someone who follows the rule of law.
Read More “FERC Chairman Says Agency Should Not Set Global Warming Policy”
The CME Group, formerly known as the Chicago Mercantile Exchange, is a global derivatives marketplace based in Chicago–originally founded to sell physical commodities like grain and eggs. These days CME Group offers a range of financial trading products across all major asset classes, including those based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals. CME Group is in the process of launching the world’s first-ever physically-delivered LNG contract. What is that and how does that affect our region?
Read More “CME Group Launching First-Ever Physical LNG Futures Contract”
MARCELLUS/UTICA REGION: Cuomo’s pricey wind-power gift to unions; Methane reduction rules won’t change gas producer’s plans to cut back on emissions; OTHER U.S. REGIONS: NJR Midstream announces acquisition of Leaf River Energy Center; Monmouth College’s ‘Shale Play’ exhibit explores impact of fracking; NATIONAL: Electric generation transforms primary energy into secondary energy; Fact check: Kamala Harris misled America on#ExxonKnew; Reporters Notebook: Natural gas-powered buses becoming more visible; Methane emissions continue to drop; 5 surprising scientific facts about earth’s climate; Media’s embrace of ‘climate crisis’ raises alarm about journalistic objectivity; INTERNATIONAL: Dutch homeowners willing, but not eager to switch to natural gas-free living.
Read More “Shale Energy Stories of Interest: Fri, Sep 6, 2019”
It’s been over a year since we brought you news about Cunningham Energy, a small oil driller based in West Virginia (see Cunningham Energy Focuses on Shallow Horizontal Oil Wells in WV). Cunningham, backed by money from Viper Capital Partners, is once again in the news. Viper has just acquired drilling leases (and conventional wells) in Roane and Gilmer counties in WV. Viper says its drilling arm, Cunningham, will drill more “shallow” horizontal (fracked) wells in those locations, looking for oil.
Read More “Cunningham Energy to Drill More WV Shallow Horizontal Oil Wells”
You can’t say we didn’t see this one coming. Last week 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). Meaning the project is now back on, approved by FERC itself. As we predicted, the DEC, thoroughly corrupted and politicized by Cuomo himself, says it will “fight” FERC’s ruling.
Read More “NY DEC Will “Fight” FERC over Constitution Pipeline Decision”