Energy Stories of Interest: Fri, Apr 26, 2019
MARCELLUS/UTICA REGION: PennDOT audit finds $4.2 billion diverted from repairing roads, bridges; Group of PA lawmakers introduce package of bills to trim state’s 153,000 regulations; Congressman Scott Perry: Natural gas the ‘Green New Deal of the last 10 to 15 years’; Leaders celebrate start-up of new MarkWest plant, largest natural gas facility in nation; Antero Resources sets new 12-month stock price low at $7.31; OTHER U.S. REGIONS: Tellurian works on financing in tandem with equity partnerships for Driftwood LNG; NATIONAL: 7 more things you need to know about Oxy’s new bid for Anadarko; Occidental CEO says she will prevail in bidding war for sought-after oil driller Anadarko; Trump’s removal of this 100-year old law is good news for natural gas; Natural gas and the electric power sector: What are the latest trends?; Methane emissions intensity declines in top shale basins; INTERNATIONAL: America wants to challenge rogue petrostates.
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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 
Good news for residents and politicians in Westchester County, NY! (Yes, we’re being facetious.) Consolidated Edison, the local electric and gas utility for parts of New York City and its suburbs, says they’ve cut a deal with Tennessee Gas Pipeline (TGP) to get more gas supplies flowing to Westchester County (northern suburb of NYC) and they will potentially lift their moratorium on new natgas customer hookups…four years from now in 2023.
Andrew Cuomo, the man-child who governs New York State like it’s a third world, tinpot dictatorship (it’s rapidly becoming as poor as a third world country), says NY is going to sue President Trump over his recently signed Executive Order that will make it harder for states like NY to reject pipelines for purely political reasons (see 
In June 2018 MDN told you about a plan by Midwest utility company Vectren to build a 900-megawatt natural gas-fired power plant (and a 50-acre solar farm) to replace a retiring coal plant, in Warrick County, Indiana (see 
On Monday, Toby and Derek Rice filed a proxy statement with the Securities and Exchange Commission and sent EQT shareholders a package and special proxy card (for voting) in an effort to elicit votes for their slate of nine board members at the upcoming July annual meeting–so they can take control of the company. Normally proxy statements are pretty dry affairs. Not this one! There are bombshell accusations in the proxy statement made by the Rice boys against EQT’s current management.
Range Resources issued its first quarter 2019 update earlier this week. Natural gas liquids (NGLs) were one of the themes of the update and analyst phone call–and no wonder why. The company produced an average of 2.26 billion cubic feet equivalent per day (Bcfe/d) of natural gas in 1Q19, nearly one-third (31%) of which was NGLs. Ethane and propane, getting them to market, is a major focus for Range.
Yesterday the Pennsylvania Senate Democratic Policy Committee held a hearing in Pittsburgh, supposedly on strategies for combating mythical man-made global warming by reducing methane gas emissions. It reality it was an anti-shale crapfest, complete with speeches by radicals from PennFuture and the Environmental Defense Fund.
In March a group of Pennsylvania landowners from Lancaster County asked the U.S. Supreme Court to hear a case in which they say they’ve been screwed over by Atlantic Sunrise Pipeline, that the pipeline should not have had the right to use eminent domain to build the pipeline before the matter of compensation was fully adjudicated (see 
Middletown, NJ officials recently passed, unanimously, a resolution opposing the proposed construction of the Northeast Supply Enhancement (NESE) pipeline, part of the Transco pipeline system. There are a number of components to NESE, but the key component, the heart of the project, is a new 23-mile pipeline from the shore of New Jersey into (on the bottom of) the Raritan Bay–running parallel to the existing Transco pipeline–before connecting to the Transco offshore. Comments by Middletown Mayor Tony Perry are instructive and provide us with a teachable moment.
President Trump is “seriously considering” granting an exemption to the Jones Act, a federal law passed in 1920 that that regulates maritime commerce in the United States. This is seriously good news for the Marcellus/Utica, in fact for every shale play in the U.S. Why? How? Let us explain…