NJ Using Courts, “Historic” Sites to Block PennEast Pipeline
The anti-drilling zealots that populate the levers of power in New Jersey, along with their colluding Big Green compatriots, continue a holy mission to block PennEast Pipeline, a pipeline the majority of which will get built in Pennsylvania. Anti-pipeline nutters are attacking the project on several fronts, including in the courts, and by claiming the pipeline would affect nine “potential” historic sites along its path through NJ. Will federal courts and regulators fall for the ruse?
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An interesting development in the bidding war to buy Anadarko Petroleum. Two weeks ago Chevron announced a deal to buy Anadarko Petroleum for $33 billion plus assuming outstanding debt, a deal worth $50 billion (see 
MARCELLUS/UTICA REGION: Poll finds Pennsylvanians uninformed about nuke proposal, skeptical when educated; OTHER U.S. REGIONS: Trucks playing larger role in LNG deliveries from Texas; NATIONAL: New Nature study affirms the climate benefits of increased natural gas use; Halliburton’s taking its foot off the gas in the shale industry; Schlumberger’s slow revenue growth could cause problems; Dakota Access company bought up dozens of anti-pipeline URLs; SNG (Solidified Natural Gas) technology for gas storage; The many factors influencing LPG export volumes; INTERNATIONAL: UK’s shale gas commissioner quits over ‘de facto’ fracing ban; Saudi Aramco sees shale gas as Kingdom’s next energy bonanza.
Two days ago EQT issued its first quarter 2019 update. Yesterday they held a conference call to discuss the company’s performance. EQT performed better in 1Q19 both financially and operationally than it did in 1Q18. What most caught our interest were CEO Rob McNally’s remarks, both his prepared remarks at the beginning of the conference call, and his unscripted remarks during the Q&A. We gained some important insights on where and how much EQT plans to drill for the balance of 2019.
In addition to EQT’s 1Q19 update yesterday, Toby and Derek Rice filed a lawsuit against EQT, alleging the company is trying to confuse shareholders by requiring some of board candidates the Rice boys are proposing get commingled with EQT’s own slate of candidates. The Rice boys say the lawsuit is aimed at “preventing EQT from manipulating shareholder election.” The Rices want to elect their own board, tossing out the existing board and following that, tossing out EQT’s current senior management.
Yesterday the Pennsylvania Public Utility Commission (PUC) voted 5-0 to deny Sunoco Logistics Partners permission to restart construction of Mariner East 2 pipeline in West Whiteland Township in Chester County. Why? Because construction at that location (Shoen Road), along with three other locations, is currently under review in Commonwealth Court. In other words, for the time being (until the court rules), the PUC’s hands are tied.
Last we had heard, the official word coming from Equitrans, builder of the Mountain Valley Pipeline (MVP), is that the project will be done and online by the end of this year. However, a partner in the project, NextEra Energy, is now saying otherwise.
A group of four Democrat Pennsylvania State Senators and one RINO, all from the Philadelphia region, have requested the Senate committee that will hold a hearing on reconfirming state Dept. of Environmental Protection Secretary Patrick McDonnell to a second term, be put on hold. The gang of five are fighting the completion of the Mariner East 2 pipeline project and believe McDonnell improperly approved and has covered up problems with the project. Don’t you love it when Dems turn on their own?
Less than two weeks ago Chevron announced a deal to buy Anadarko Petroleum for $33 billion plus assuming outstanding debt, a deal worth $50 billion (see 