Earlier this week the NYMEX natural gas futures contract for December rolled off and the January contract became the “front contract” being traded. The latest storage numbers–how much gas has *not* been withdrawn from storage–combined with weather forecasts and computerized trading to hammer prices. Natgas was down 10 cents on Wednesday, and down another 27
Read More...The first of 10 LNG (liquefied natural gas) mini-trains at Kinder Morgan’s Elba Island, Georgia export facility went online in December of last year (see Elba Island Finally Exported First Marcellus LNG Cargo on Friday). Since that time, the other nine trains have come online one at a time, with the last unit going into
Read More...The clown judges of the U.S. Court of Appeals for the Fourth Circuit (one of whom quotes from children’s books in her opinions) have signaled they will overturn, again (for the second or third time) a permit issued by the U.S. Army Corps of Engineers that allows the 92% completed Mountain Valley Pipeline (MVP) from
Read More...The Pennsylvania Dept. of Environmental Protection (DEP) is in major butt-covering mode with the state’s conventional (non-shale) oil and gas industry. During an industry-led advisory committee meeting held yesterday, members of PA’s conventional oil and gas industry delivered some rather blunt comments to DEP Deputy Secretary for Oil and Gas Management Scott Perry, accusing the
Read More...click for larger version On Wednesday, Hart Energy held its annual DUG (Developing Unconventional Gas) East event. This year the event was virtual instead of in-person at the convention center in Pittsburgh. One acronym seemed to be on the lips of nearly every speaker at this year’s event: ESG, which stands for “environment, social, governance.”
Read More...Yesterday CNX CEO Nick Deluliis was one of the keynote speakers at the annual DUG (Developing Unconventional Gas) East event, held virtually this year. Normally DUG is held at the Convention Center in Pittsburgh. Deluliis’ talk was wide-ranging, but much of it concentrated on mergers and acquisitions, particularly M&A in the Marcellus/Utica. Deluliis is not
Read More...In June 2019 the Cambridge (Massachusetts) Retirement System sued EQT claiming EQT’s executives had made false and misleading statements about their 2017 purchase of Rice Energy–claims about cost efficiencies that never materialized, and claims about the location of Rice leases that were not as close to EQT’s acreage as claimed (see Mass. Retirement Fund Sues
Read More...click for larger version Each year Cleveland State University publishes a report for JobsOhio looking at how much money has been invested by the private sector in the Utica Shale (and related) industry. The CSU’s eighth report (full copy below) was recently released and shows some eye-popping numbers. Total shale investment from July through December
Read More...Two years ago the Maryland Board of Public Works (BPW), which has three members (two leftwing Democrats and RINO Gov. Larry Hogan), rejected an 8-inch, 3.5-mile pipeline (tiny!) that would travel under the Potomac River, even though 12 other pipelines have previously been built under the Potomac in the same general vicinity (see Maryland Pulls
Read More...Each year East Daley Capital publishes its Midstream Guidance Outlook which looks at themes and trends affecting the midstream (pipeline) sector in the coming year. The latest version of Daley’s report has just been released and draws some interesting conclusions about the midstream in 2021. Namely, associated gas growth in the Permian and elsewhere will
Read More...On Monday MDN brought you the exciting news that Enbridge’s Weymouth compressor station project, the final piece of the $452 million Atlantic Bridge expansion project, has received permission from the federal Pipeline and Hazardous Materials Safety Administration (PHMSA) to begin operations “in early December” (see Weymouth, MA Compressor Station Gets Greenlight to Start Operating). We
Read More...If there’s a bad cold snap in New England this winter forcing residents to use more natural gas (leaving less natgas for power plants), blackouts may occur. That’s the prediction from the North American Electric Reliability Corporation (NERC) in their just published 2020-2021 Winter Reliability Assessment (full copy below). If blackouts do occur, the residents
Read More...click for larger version FirstEnergy continues to get battered over its alleged role in a $60 million bribery scandal in Ohio. The latest blow comes from the country’s three main ratings agencies, Fitch, Moody’s and S&P, which have all downgraded FirstEnergy’s credit rating to ‘junk’ status. This post appeared first on Marcellus Drilling News.
Read More...In December 2015, evil corporate raider Carl Icahn (invests in companies so he can fire a bunch of people, boost the stock and pocket the profit) fired Cheniere Energy CEO Charif Souki (see Evil Corporate Raider Carl Icahn Claims Another CEO Scalp). Souki didn’t let it slow him down. He started a new LNG export
Read More...Yesterday Pennsylvania’s Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report–for July through September 2020 (full copy below). The report shows natgas production in PA rose 2.0% compared to the same period last year, which is the lowest increase on record since the shale revolution began. The number of new wells spud
Read More...