2/21/18 Links of the Day: Explosion at Well Pad, EQT Looks to Split, and Much More
Press release: Honeywell To Provide Natural Gas Liquids Fractionation Plant For MarkWest's Hopedale Plant - "Honeywell (NYSE: HON) today announced that its UOP Russell business will provide a fractionation plant capable of producing 60,000 barrels per day of natural gas liquids (NGLs) to MarkWest Energy Partners. The company, which is a wholly owned subsidiary of MPLX LP (NYSE: MPLX), will install the plant at its Hopedale facility located in Jewett, Ohio. The fractionation system will recover propane, isobutane, normal butane and pentane – or natural gasoline -- from mixed natural gas liquids for use..."
The Columbus Dispatch: Columbia Gas Ready to Tap Regional Gas Supplies, Possibly Saving Customers Money - "Starting in April, much of the natural gas provided by Columbia Gas of Ohio will be coming from sources closer to home, a development that might contribute to low prices for consumers. The utility will start at that time using several pipelines that can ship gas from the Utica and Marcellus shale formations in Ohio and several neighboring states. At the same time, Columbia is ending a long-term contract in which it got..."
Bloomberg: Crude Halts Decline as Demand Seen Burning Through Shale Output -
OPSB: OPSB Schedules Local Hearing for Proposed Power Plant in Harrison County - "The Ohio Power Siting Board (OPSB) will hold a hearing to allow the public to express their views about Harrison Power LLC’s proposal to construct a 1,050 megawatt natural gas-fired electric generating facility in Cadiz, Ohio. The local public hearing is scheduled as follows: April 5, 2018, at 6 p.m. Puskarich Public Library 200 East Market Street Cadiz, Ohio 43907 The proposed Harrison Power Project would be located on approximately..."
Seeking Alpha: Antero Resources' (AR) CEO Paul Rady on Q4 2017 Results - Earnings Call Transcript - "In the Utica, we placed a 10-well pad to sales at year-end that is currently flowing dry gas at a combined rate of over 200 million cubic feet a day with wellhead pressures in excess of 3,000 psi. In fact we achieved record production of 632 million a day recently in the Ohio, Utica, after running only one rig and completing only 22 wells in the play in 2017..."
MDN: Rover Pipeline’s SWPA Burgettstown Lateral Ready for Startup - "On Tuesday, Rover Pipeline (Energy Transfer Partners) sent an official request to the Federal Energy Regulatory Commission (FERC) asking for permission to begin service on one of the remaining legs of the pipeline not yet up and running as part of Phase 1 development. Rover wants to begin service on the Burgettstown Lateral by Feb. 26. The Burgettstown Lateral (see the map below) extends from Burgettstown (Washington County), PA through Hancock County, WV and into..."
Pittsburgh Post-Gazette: EQT Nearing Decision on a Possible Split; Stock Surges - "EQT Corp. will announce in the next two weeks a plan that will likely separate its oil and gas drilling business from the pipeline infrastructure side, the company said on Thursday. It’s been months in the making and nudged along by an activist shareholder campaign last year that tried to use EQT’s acquisition of Rice Energy Inc. as leverage to force..."
Forbes: Shale Sector Settles into New Sweet Spot at $65 a Barrel - "When oil prices cratered from the high $80s in 2014 to below $40 in 2016, the U.S. upstream sector went looking for a rallying cry, and “$50 is the new $80” became the mantra. Oil prices of $80 and higher had funded massive capital budgets and expansive drilling programs across the Lower 48 in the years before the downturn, but as prices drifted lower in 2016 and 2017, the viability of U.S. shale production was called..."
The Intelligencer: Powhatan Point Residents Remain Displaced as Well Pad Leak Continues - "A break in the weather Sunday allowed a well control team to gain access to a leaking natural gas drilling pad — the first step toward bringing the leak under control. XTO Energy spokeswoman Karen Matusic said the explosion that occurred at the Schnegg pad on Cats Run Road on Thursday created a lot of debris that must be removed in order to create a safe work zone for the well control team. Heavy rain that eventually led to flooding across the region was falling Thursday around the time of..."
The Intelligencer: After Almost a Week, XTO Methane Leak Continues - "XTO Energy spokeswoman Karen Matusic said the high pressure associated with eastern Ohio Utica Shale wells may have contributed to the explosion at the Schnegg pad near Captina Creek on Thursday. Nearly a week after the well blew, several residents remain displaced, while unknown quantities of the greenhouse gas leak into the air. President Donald Trump’s Environmental Protection Agency states that methane “absorbs..."
VORYS: ODNR Temporary Orders for Oilfield Waste Remain in Effect - "On February 15, 2018, the Supreme Court of Ohio denied an appeal of a mandamus action seeking to force ODNR to rescind temporary orders that ODNR had issued to a number of facilities across the state for the storage, recycling, treatment, processing, or disposal of brine and other oilfield waste. R.C. 1509.22(B)(2)(a) requires that “on and after January 1, 2014, no person shall store, recycle, treat, process, or dispose of in this state brine or other waste substances associated with the exploration, development, well stimulation, production operations, or plugging of oil and gas resources without an order..."
Davis Wright Trumaine: Industry Petition Pushes FERC to Require Gas Pipelines and Storage Companies to Immediately Reflect Lower Tax Rates in Shipper Rates - "In light of reduced corporate tax rates as the result of Tax Cuts and Jobs Act of 2017 (Tax Act), a broad coalition of gas industry trade associations and gas producers recently filed a petition with the Federal Energy Regulatory Commission (FERC) urging the agency to lower gas pipeline and storage company rates to reflect tax rate reductions. The January 31, 2018 petition also offers a blueprint for how FERC could quickly..."
Pittsburgh Post-Gazette: Researchers Find Fracking Spurs Bigger Quakes at Different Depths - "Five small earthquake sequences triggered by fracking in eastern Ohio between 2013 and 2015 were more complex than researchers previously understood, revealing that fracking-linked seismic disturbances originate at different geological depths and that deeper events pose greater risks. The new study — led by researchers at Miami University in Ohio and published in the Proceedings of the National Academy of Sciences — uncovered interesting dynamics about..."
Energy in Depth: Report Finds U.S. Natural Gas Methane Emissions Have Little Climate Change Impact - "The “Keep It In the Ground” movement has been proliferating methane misinformation for years, repeatedly claiming methane leaks wipe out natural gas’ climate benefits and contribute significantly to climate change. Numerous third-party experts, including the Intergovernmental Panel on Climate Change (IPCC) and International Energy Agency (IEA), have refuted these claims and affirmed natural gas’ substantial climate benefits. And now, new research from the Gas Technology Institute’s Center for Methane Research puts U.S. natural gas system methane emissions into..."
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The Columbus Dispatch: Columbia Gas Ready to Tap Regional Gas Supplies, Possibly Saving Customers Money - "Starting in April, much of the natural gas provided by Columbia Gas of Ohio will be coming from sources closer to home, a development that might contribute to low prices for consumers. The utility will start at that time using several pipelines that can ship gas from the Utica and Marcellus shale formations in Ohio and several neighboring states. At the same time, Columbia is ending a long-term contract in which it got..."
Bloomberg: Crude Halts Decline as Demand Seen Burning Through Shale Output -
OPSB: OPSB Schedules Local Hearing for Proposed Power Plant in Harrison County - "The Ohio Power Siting Board (OPSB) will hold a hearing to allow the public to express their views about Harrison Power LLC’s proposal to construct a 1,050 megawatt natural gas-fired electric generating facility in Cadiz, Ohio. The local public hearing is scheduled as follows: April 5, 2018, at 6 p.m. Puskarich Public Library 200 East Market Street Cadiz, Ohio 43907 The proposed Harrison Power Project would be located on approximately..."
Seeking Alpha: Antero Resources' (AR) CEO Paul Rady on Q4 2017 Results - Earnings Call Transcript - "In the Utica, we placed a 10-well pad to sales at year-end that is currently flowing dry gas at a combined rate of over 200 million cubic feet a day with wellhead pressures in excess of 3,000 psi. In fact we achieved record production of 632 million a day recently in the Ohio, Utica, after running only one rig and completing only 22 wells in the play in 2017..."
MDN: Rover Pipeline’s SWPA Burgettstown Lateral Ready for Startup - "On Tuesday, Rover Pipeline (Energy Transfer Partners) sent an official request to the Federal Energy Regulatory Commission (FERC) asking for permission to begin service on one of the remaining legs of the pipeline not yet up and running as part of Phase 1 development. Rover wants to begin service on the Burgettstown Lateral by Feb. 26. The Burgettstown Lateral (see the map below) extends from Burgettstown (Washington County), PA through Hancock County, WV and into..."
Pittsburgh Post-Gazette: EQT Nearing Decision on a Possible Split; Stock Surges - "EQT Corp. will announce in the next two weeks a plan that will likely separate its oil and gas drilling business from the pipeline infrastructure side, the company said on Thursday. It’s been months in the making and nudged along by an activist shareholder campaign last year that tried to use EQT’s acquisition of Rice Energy Inc. as leverage to force..."
Forbes: Shale Sector Settles into New Sweet Spot at $65 a Barrel - "When oil prices cratered from the high $80s in 2014 to below $40 in 2016, the U.S. upstream sector went looking for a rallying cry, and “$50 is the new $80” became the mantra. Oil prices of $80 and higher had funded massive capital budgets and expansive drilling programs across the Lower 48 in the years before the downturn, but as prices drifted lower in 2016 and 2017, the viability of U.S. shale production was called..."
The Intelligencer: Powhatan Point Residents Remain Displaced as Well Pad Leak Continues - "A break in the weather Sunday allowed a well control team to gain access to a leaking natural gas drilling pad — the first step toward bringing the leak under control. XTO Energy spokeswoman Karen Matusic said the explosion that occurred at the Schnegg pad on Cats Run Road on Thursday created a lot of debris that must be removed in order to create a safe work zone for the well control team. Heavy rain that eventually led to flooding across the region was falling Thursday around the time of..."
The Intelligencer: After Almost a Week, XTO Methane Leak Continues - "XTO Energy spokeswoman Karen Matusic said the high pressure associated with eastern Ohio Utica Shale wells may have contributed to the explosion at the Schnegg pad near Captina Creek on Thursday. Nearly a week after the well blew, several residents remain displaced, while unknown quantities of the greenhouse gas leak into the air. President Donald Trump’s Environmental Protection Agency states that methane “absorbs..."
VORYS: ODNR Temporary Orders for Oilfield Waste Remain in Effect - "On February 15, 2018, the Supreme Court of Ohio denied an appeal of a mandamus action seeking to force ODNR to rescind temporary orders that ODNR had issued to a number of facilities across the state for the storage, recycling, treatment, processing, or disposal of brine and other oilfield waste. R.C. 1509.22(B)(2)(a) requires that “on and after January 1, 2014, no person shall store, recycle, treat, process, or dispose of in this state brine or other waste substances associated with the exploration, development, well stimulation, production operations, or plugging of oil and gas resources without an order..."
Davis Wright Trumaine: Industry Petition Pushes FERC to Require Gas Pipelines and Storage Companies to Immediately Reflect Lower Tax Rates in Shipper Rates - "In light of reduced corporate tax rates as the result of Tax Cuts and Jobs Act of 2017 (Tax Act), a broad coalition of gas industry trade associations and gas producers recently filed a petition with the Federal Energy Regulatory Commission (FERC) urging the agency to lower gas pipeline and storage company rates to reflect tax rate reductions. The January 31, 2018 petition also offers a blueprint for how FERC could quickly..."
Pittsburgh Post-Gazette: Researchers Find Fracking Spurs Bigger Quakes at Different Depths - "Five small earthquake sequences triggered by fracking in eastern Ohio between 2013 and 2015 were more complex than researchers previously understood, revealing that fracking-linked seismic disturbances originate at different geological depths and that deeper events pose greater risks. The new study — led by researchers at Miami University in Ohio and published in the Proceedings of the National Academy of Sciences — uncovered interesting dynamics about..."
Energy in Depth: Report Finds U.S. Natural Gas Methane Emissions Have Little Climate Change Impact - "The “Keep It In the Ground” movement has been proliferating methane misinformation for years, repeatedly claiming methane leaks wipe out natural gas’ climate benefits and contribute significantly to climate change. Numerous third-party experts, including the Intergovernmental Panel on Climate Change (IPCC) and International Energy Agency (IEA), have refuted these claims and affirmed natural gas’ substantial climate benefits. And now, new research from the Gas Technology Institute’s Center for Methane Research puts U.S. natural gas system methane emissions into..."
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