Gulfport’s Largest Investor Not Happy with Board or Management
Another situation is brewing with Gulfport Energy not unlike the situation at EQT. One of (we’re pretty sure THE) largest shareholders in Gulfport, investment firm Firefly Value Partners, is not happy with either the board of directors or current management, saying very publicly (via a letter, below) that the current board lacks “necessary skills and experience” to turn the company’s poorly performing stock around. Ba boom!
Read More “Gulfport’s Largest Investor Not Happy with Board or Management”
The Pennsylvania Public Utility Commission (PUC) yesterday upheld an administrative law judge’s December decision against an “emergency” request by pipeline opponents to shut down both Mariner East 1 and 2 by claiming they are unsafe and need to be stopped. Can we FINALLY put this to rest and move on? ME1 and ME2 are both now online. There’s no going back.
Shell has calmed the troubled Ambridge waters–that is, the Ambridge Water Authority waters. Shell hit a snag with plans to build its Falcon Ethane Pipeline when the Ambridge Water Authority claimed construction of the pipeline under several streams feeding the Ambridge reservoir would endanger the drinking water for 30,000 people (see 
Honest to God, we want to know, how do people get this stupid? Four adult men–three so-called farmers and one 38-year-old egghead student–chained themselves to a fossil fuel-belching farm tractor in the middle of a busy road in Connecticut to block a shipment of turbines on the way to a new natgas-fired electric plant under construction…in order to protest fossil fuels.
MARCELLUS/UTICA REGION: EQT announces date and time for conference call to discuss 2019 guidance, analyst presentation; ACP official: Work on natural gas pipeline won’t recommence prior to March; Seven permits issued in Ohio’s Utica; Mariner East 2 pipeline will deliver economic jolt to Pennsylvania; Andrew Cuomo copies Ocasio-Cortez with his own ‘Green New Deal’ for New York; NATIONAL: EIA expects relatively flat natural gas prices, continued record production through 2020; Why pipeline opposition undermines environmental progress and safety; Bad bets on oil, gas spark wave of energy-fund closures; Florida Congressman wants to revive Obama-era fracking rule; INTERNATIONAL: Gas pipeline infrastructure market to hit $2 trillion by 2024.
The political “leaders” in Franklin Park (Allegheny County, near Pittsburgh) have decided to reject a proposal to drill a shale well under (not on) the 80-acre Linbrook Park. With a signing bonus of $283,500 plus 18% royalties, the Franklin Park Borough would have seen revenue of *at least* $1 million. Talk about stupid.
Did the Pennsylvania Supreme Court err in its judgment declaring so-called “stripper wells” can be taxed under the 2012 Act 13 law, slapped with an impact fee assessment, if those wells produce more than 90 thousand cubic feet per day (Mcf/d) of gas in a single month (see 
Despite setbacks from Big Green groups launching a blizzard of lawsuits and regulatory challenges, Equitrans’ (EQT Midstream) 300-mile Mountain Valley Pipeline (MVP) is now 70% built (see 
Consolidated Edison (Con Ed) and National Grid–both large utilities that operate in New York City and its suburbs–are warning that unless new natural gas pipelines are built to the NYC region, they will slap a moratorium on hooking up any new natgas customers. Andrew Cuomo’s chickens are now coming home to roost.
Once again Marcellus Drilling News is happy to partner with and support the 
On Monday we told you about a letter written by investment firm D.E. Shaw, one of EQT’s largest shareholders (owns 4.5% of outstanding shares), to the EQT board (see 