Other Energy Stories of Interest: Tue, Mar 6, 2018
The “best of the rest”–stories that caught MDN’s eye that you may be interested in reading: Atlantic Sunrise Pipe gives $10K to Lycoming College; Athens, OH frack ban charter now in hands of Appeals Court; Trump’s steel tariff doesn’t hurt oil & gas nearly as much as industry is saying; Wall Street wants to be paid–by drillers; oil from shale “resilient” at $50 according to Hess CEO; natgas storage math; moving tribute to natgas friend Nick Grealy; sorry OPEC–shale is about to turn a profit this year; U.S. emerging as India’s new energy partner; and more!
Read More “Other Energy Stories of Interest: Tue, Mar 6, 2018”
Late last week Southwestern Energy, one of the biggest drillers in the Marcellus (4th largest natgas producer in the country), issued its fourth quarter and full year 2017 update. Southwestern drills in two plays: The Marcellus (i.e. Appalachia), and the Fayetteville (in Arkansas). The big news coming from last week’s update is that Southwestern signaled it wants to sell some–or all–of its “underperforming” Fayetteville assets, and use the money to pay down debt and drill more in the northeast. Largely on the back of prolific production in the Marcellus, Southwestern had a dramatic financial turnaround last year. In 2016, Southwestern lost $2.75 billion. In 2017, the company made $815 million in profit. That’s a swing of $3.5 billion in a single year!…
On Saturday, the full West Virginia Senate voted on House Bill (HB) 4268–the “co-tenancy” bill–passing the measure by a vote of 23-11. This is tremendously good news–for both landowners and drillers. Although WV Gov. Jim Justice had previously threatened to veto the bill because he wanted it tied (like a millstone) to the neck of another bill (joint development), Justice backed off that position after getting a lot of blowback, from virtually everyone (see 
In February, Sunoco Logistics Partners agreed to pay a massive (historically high) $12.6 million fine to the PA Dept. of Environmental Protection (DEP) for “permit violations related to the construction of the Mariner East 2 pipeline project” (see 
The Japanese recently found out more about the Marcellus/Utica and the region in the Mid-Ohio Valley called the “Shale Crescent.” In June 2016, MDN told you about an economic development group of business and government leaders from Ohio and West Virginia (the Mid-Ohio Valley) called Shale Crescent (see 
We recently dodged a couple of legal bullets with respect to building pipeline projects. A recent Fourth Circuit Court of Appeals case brought by anti-fossil fuelers against the Mountain Valley Pipeline (MVP) would have gutted the Federal Energy Regulatory Commission’s (FERC) ability to grant eminent domain powers to pipeline companies. Whew, dodged that bullet. In Pennsylvania’s Commonwealth Court, THE Delaware Riverkeeper and other antis tried to upend the centuries-old principle that federal law trumps state law, and state law trumps local law. Riverkeeper argued local laws should stop the Mariner East 2 project. Whew, dodged that bullet too…
Last week MDN editor Jim Willis had the pleasure of moderating two panels at the 2018 Northeast Oil & Gas Awards’ Northeast Industry Summit. As in the past, we enjoyed the opportunity to meeting the pros in our industry, to say hello so a number of MDN subscribers, and in general soak up knowledge about this great industry. The evening was a gala ceremony to recognize and announce this year’s winners of the 2018 O&G Awards. A hearty congratulations to all of the winners. We have the full list of who won…
Events related (or of interest) to the Marcellus and Utica Shale, primarily pro-drilling events. To have your event included (or if you are aware of a worthy event you believe should be on this page), please send the details and/or a link to have it included to the calendar@marcellusdrilling.com email address. Thank you!
Earlier this week MDN told you the ship that would carry the very first cargo of LNG from Cove Point LNG had docked (see 
Southern LNG, a unit of Kinder Morgan, filed a request with the Dept. of Energy yesterday asking the DOE for “blanket authorization” to export LNG from the Elba Island LNG plant in Georgia beginning in the third quarter of this year…
Earlier this week Eclipse Resources, an Ohio Utica-focused driller based in State College, PA, released its fourth quarter and full year 2017 update. Eclipse is one of our personal favorites, known for drilling “super laterals”–wells nearly four miles long. They’ve drilled the three longest onshore horizontal wells in the world–all in Ohio! So what did the Eclipse report reveal? A lot…
Well looky at this. West Virginia Gov. Jim Justice has pulled his head out of his…political fugue…and has reversed course on his opposition to the existing co-tenancy bill that’s near final passage. Justice previously threatened to veto the bill if it should hit his desk…