Shale Gas News – October 1, 2022

shale gas news
Shale Gas NewsBill desRosiers
External Affairs Coordinator, Coterra Energy
Host, Shale Gas News

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about BlackRock, Manchin deal, Antero Midstream and much more last week.

The Shale Gas News has grown again to the Williamsport area on stations WEJS 1600 AM & 104.1 FM. The Shale Gas News is now broadcasting in Bradford, Lackawanna, Lancaster, Lebanon, Luzerne, Lycoming, Pike, Sullivan, Susquehanna, Tioga and Wayne Counties, as well as in greater central PA and now the Williamsport area. The Shale Gas News is aired on Saturday or Sunday depending on the station.

Every Saturday Rusty Fender, Matt Henderson and I host a morning radio show to discuss all things shale gas. This week, as a guest, we had Tom Pyle of the American Energy Alliance and Institute for Energy Research.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the October 1st show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Repsol Sells 25% of Upstream O&G Unit to EIG for $4.8 Billion. Susquehanna, and Tioga counties. However, the company’s upstream (drilling) operations extend far beyond the Marcellus–to other plays and even to other countries. EIG, a leading institutional investor in the global energy and infrastructure sectors, yesterday announced that it has entered into a deal with Repsol to acquire a 25% stake in Repsol’s upstream operations. EIG will pay Repsol $4.8 billion for the privilege. And what will Repsol do with $4.8 billion in cash?
  • Antero Buying Crestwood’s WV Marcellus Gathering Pipeline System. Yesterday both Antero Midstream (the pipeline subsidiary of Antero Resources), and Crestwood Equity Partners announced a deal to sell Crestwood’s remaining Marcellus assets to Antero for $205 million. The assets include 72 miles of dry gas gathering pipelines and nine compressor stations with approximately 700 MMcf/d of compression capacity located in Doddridge County and Harrison County in West Virginia.
  • BlackRock – The $10 Trillion Evil Empire Strikes Back. In early August, the attorneys general from 19 states, headed by Arizona AG Mark Brnovich and Texas AG Ken Paxton, sent a letter to the world’s largest investment firm, BlackRock, to say the company’s pressure on investors to divest from fossil energy companies based on so-called ESG (environmental, social, governance) criteria may, in fact, be illegal. The AGs are banding together to investigate BlackRock and its anti-fossil fuel policies. BlackRock, with $10 trillion in assets under management in its investment portfolio, has just fired back with a letter of its own.
  • Manchin Deal to Complete MVP Begins to Fall Apart in U.S. House. We will continue to update MDN readers throughout the month of September as U.S. Senator Joe Manchin’s huge gamble of trading away the future of the country to finish the Mountain Valley Pipeline plays out. We spotted a story that quotes powerful Democrat members of the U.S. House of Representatives saying they have no allegiance to a deal made in the Senate–even though Speaker Nancy Pelosi promised support.
  • EQT CEO Toby Rice Pulls Back the Curtain on Tug Hill $5.2B Deal. Yesterday MDN brought you the news that EQT Corporation is buying the West Virginia assets of Tug Hill Operating–the company’s THQ Appalachia operation–for $5.2 billion. The deal adds roughly 90,000 leased acres (mainly in Marshall and Wetzel counties) to EQT’s massive existing footprint. It also adds an extra 800 million cubic feet per day (MMcf/d) of production to EQT’s current 5.5 billion cubic feet per day (Bcf/d). EQT CEO Toby Rice went on the record with the Pittsburgh Business Times to share his reasoning and thoughts behind the Tug Hill acquisition.

The Shale Gas News sponsored by Linde Corporation

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