Hedge fund presses EQT to split company after Rice Energy acquisition closes

Reuters reports that hedge fund D.E. Shaw & Co. LP has urged Pittsburgh-based EQT Corp. to split into two parts after the company closes its $6.7 billion acquisition of Rice Energy Inc. and to speed up efforts to boost EQT’s stock price. The news service says the move by D.E. Shaw “marks a rare activist stance taken by the $40 billion hedge fund and pits it next to activist fund Jana Partners, which is urging EQT to scrap the Rice deal.” EQT and Rice have large oil and natural gas holdings in the Marcellus and Utica shale plays. For more, read the full story.

Ohio, Pennsylvania, West Virginia

Wheeling seen as potential office site for firms associated with PTT ‘cracker’ plant

With Wheeling, West Virginia positioned about 13 miles north of the proposed PTT Global Chemical ethane “cracker” plant in eastern Ohio, Mayor Glenn Elliott says his city could become a corporate headquarters for companies that may follow development of the plant, according to the Wheeling Intelligencer/News-Register. Speaking after a recent forum on the PTT project, Elliott said having a lot of office space downtown gives Wheeling a solid chance to attract interest from companies in the shale gas business. The Intelligencer says Wheeling’s tallest building, the former Wheeling-Pittsburgh Steel Corp. headquarters, is one possibility. For more, read the full story.

Ohio, West Virginia

Ridgetop Capital raises $200 million to acquire oil and gas rights

Ridgetop Capital Partners, a private institutional investment firm focused on the oil and natural gas sector in the Appalachia basin, has closed on another round of fundraising, reports Marcellus Drilling News. The news site says Ridgetop, based in the Pittsburgh area, has raised $200 million to buy natural gas mineral rights in the Marcellus and Utica shale plays. Click here to read more.

Ohio, Pennsylvania, West Virginia

Patterson-UTI acquires directional driller MS Energy

Nasdaq.com reports that Patterson-UTI Energy Inc. has entered into an agreement to acquire Multi-Shot, LLC, which does business as MS Energy Services, for approximately 8.8 million shares of Patterson-UTI common stock and $75 million in cash. Based in Conroe, Texas, MS Energy provides directional oil and natural gas drilling services and has operations in U.S. shale plays, including the Marcellus and Utica region. For more, read the full story.

National, Ohio, Pennsylvania, West Virginia

Construction begins on methanol plant in West Virginia

Local and state officials recently joined representatives of US Methanol in a groundbreaking ceremony for the company’s new chemical plant in Institute, West Virginia, reports MetroNews. The news service says US Methanol expects to open its Liberty One facility in mid-2018 and employ about 50 people there. The plant, which will use natural gas in its production process, will be capable of producing 200,000 metric tons of methanol a year. For more, read the full story.

West Virginia

Atlantic Coast Pipeline developers seek FERC approval

Developers of the proposed Atlantic Coast Pipeline have asked the Federal Energy Regulatory Commission (FERC) to approve the project this month, reports The Associated Press. The news service says Dominion Energy, Duke Energy and Southern Company Gas are seeking permission to move forward on the 600-mile pipeline that would carry natural gas across West Virginia, Virginia and North Carolina. The pipeline developers hope to begin initial construction and tree clearing in November. For more, read the full story.

West Virginia

Company wants to run NGL pipelines under Ohio River

Denver-based Energy Storage Ventures hopes to connect three pipelines running beneath the Ohio River to its new natural gas liquids (NGL) storage facility in eastern Ohio by 2019, reports the Review in East Liverpool. The newspaper says two of the pipelines would carry ethane, propane and butane from the Blue Racer Natrium processing plant in northern West Virginia to the Mountaineer NGL Storage facility near Clarington, Ohio, while the third would send salt brine from the storage facility to a chlorine plant in Marshall County, West Virginia. Speaking at a recent panel discussion organized by West Virginia University, Energy Storage President David Hooker said his company wants to use salt caverns for NGL storage, with each capable of holding 500,000 barrels of ethane, butane or propane, according to the Review. For more, read the full story.

Ohio, West Virginia

WVU study identifies sites for Appalachia ethane storage hub

West Virginia University researchers believe a Marcellus and Utica shale ethane storage hub could help create $36 billion in investment and more than 100,000 permanent jobs, including some at industrial sites left behind by Wheeling-Pittsburgh Steel, Weirton Steel and Ormet Corp. in the Upper Ohio Valley, reports the Herald-Star in Steubenville. The newspaper says a new study by researchers at the WVU Energy Institute identifies a number areas in the region that have favorable geology for ethane storage, including all or portions of several counties in eastern Ohio and West Virginia’s Northern Panhandle. For more read the full story.

Ohio, West Virginia

EIA: Natural gas processing capacity soars in Appalachia

A new report from the U.S. Energy Information Administration (EIA) finds natural gas processing capacity in the Appalachian region has grown dramatically over the past several years as energy companies try to keep pace with increasing natural gas production. EIA estimates processing capacity in Kentucky, Ohio, Pennsylvania and West Virginia grew from 1.1 billion cubic feet per day (Bcf/d) to 10.0 Bcf/d between 2010 and 2016. The additional processing capacity has supported growth in natural gas production in those states, increasing from 2.0 Bcf/d in January 2010 to 22.9 Bcf/d in May 2017. For more, read the full report.

Ohio, Pennsylvania, West Virginia

Tetco pipeline expansions to benefit Marcellus, Utica shale plays

Expansions on the Texas Eastern Transmission (Tetco) natural gas pipeline, which runs through Ohio, will increase flows on that line by nearly 1 billion cubic feet per day by the end of 2017, according to Argus Media. The news service says the pipeline's Gulf Markets Expansion Phase 2, Access South, Adair Southwest and Lebanon Extension projects will add more takeaway capacity for natural gas from the Marcellus and Utica shale plays, and “should alleviate what has become a bottleneck at the Berne, Ohio compressor station.” Argus says Tetco “opened the door to higher southward flows” of natural gas with the completion of its Gulf Markets expansion in August. For more, read the full story.

National, Ohio, Pennsylvania, West Virginia
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