Proxy Advisory Firm Egan-Jones Supports Rice Bros. in Proxy War
A week ago we brought you the news that the country’s top two shareholder advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., are each supporting opposing sides in the EQT proxy war (see Latest Round of Proxy Announcements from Rice Bros., EQT). A third firm, Egan-Jones–perhaps not quite as high profile as ISS and Glass Lewis but a big deal nonetheless (in the list of the top 6 such firms)–has just endorsed…
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The Equitrans Expansion Project (EEP) began construction in late 2017. The project is related to Equitrans’ $4 billion, 303-mile Mountain Valley Pipeline (MVP) project, approved by the Federal Energy Regulatory Commission (FERC) at the same time as MVP. The $100 million EEP involved upgrading several compressor stations and adding approximately eight miles of pipeline connectors to increase capacity along the Equitrans Pipeline from southwestern Pennsylvania into West Virginia.
It seems the door *does* swing both ways when it comes to Pennsylvania municipalities and the Act 13 lawsuit decision that allows municipalities to have a say in zoning in, or zoning out, shale drilling. In 2013 seven selfish PA towns won the right, from the PA Supreme Court, to impose their own zoning rules on oil and gas drilling (see 
Competitive Power Ventures (CPV) finally broke ground and began to build a new Marcellus gas-fired power plant in Cambria County, PA in October 2017 (see 
In late June, MDN brought you the sad news that Philadelphia Energy Solutions (PES), which operates the East Coast’s largest refinery on the banks of the Delaware River, has decided to close, throwing 1,020 people out of work following a recent fire (see 
MARCELLUS/UTICA REGION: Westmoreland municipalities count on windfall from natural gas impact fee; Utilities commission announces revenue; They’ve drilled a well on my property, but never finished it. Why?; OTHER U.S. REGIONS: Port of Virginia becomes first U.S. port to join SEA\LNG; TVA’s IRP foresees natural gas growth climbing 2-17 GW over next 20 years; Why build an ethane steam cracker in a time of low ethylene margins?; Wisconsin utility regulators decline to consider climate impact of proposed natural gas plant; NATIONAL: How the US shale revolution changed the face of geopolitics; The U.S. is overflowing with natural gas. Not everyone can get it.; Senators to review global LNG export landscape; 2020 Democrats want to turn our energy independence into submission; INTERNATIONAL: Biased attack on natural gas leaves out key facts.
Events related (or of interest) to the Marcellus, Utica and other Appalachian shales happening in the next 90 or so days. Send your calendar items (listed for free!) to: jim (at) marcellusdrilling.com.
Exactly three years ago, TransCanada Corporation (now renamed TC Energy) completed a deal to buy out and merge in Columbia Pipeline Group for $10 billion (see 
Global warming fundamentalists certainly are a persistent lot. They can’t win elections, and they can’t force state or federal legislatures to pass laws banning pipelines (and shale drilling), so they do the next best thing. They twist our own court system against us in an attempt to block pipelines. Which has worked to some degree, at least in the northeast. The aim is to block all pipelines everywhere, eventually. Even in Texas. One of the ways antis attack the ability to build pipelines is by challenging what they pejoratively call “quick take” eminent domain–the right for a pipeline company to access and build a pipeline on property ahead of actually settling how much money the landowner will receive (in the case of landowners who refuse to negotiate).
In May the U.S. Environmental Protection Agency (EPA) published a draft report titled “Study of Oil and Gas Extraction Wastewater Management Under the Clean Water Act” (see 