Posts Authored by Matt W. Warnock

FERC approves construction of Atlantic Sunrise Pipeline

Three years after it was proposed, Williams Partners’ Atlantic Sunrise Pipeline has received federal approval to begin construction, reports LancasterOnline. The news site in Lancaster, Pennsylvania says the Federal Energy Regulatory Commission (FERC) has issued its “notice to proceed” for the 197-mile, $3 billion natural gas project. The pipeline will carry gas from wells in the Marcellus shale region in northeast Pennsylvania to markets up and down the East Coast, as well as for transport overseas. For more, read the full story.

National, Pennsylvania

Rover Pipeline starts moving natural gas in Ohio

After construction issues and regulatory delays in the first half of 2017, Energy Transfer Partners’ Rover Pipeline has started flowing natural gas in Ohio, reports S&P Global. The news site says the pipeline is transporting gas from southeastern Ohio to interconnections with the systems of Panhandle Eastern Pipe Line Co. and ANR Pipeline Co. S&P Global says Rover is moving natural gas from the Ohio River System gathering pipeline and MarkWest Energy Partners’ cryogenic processing plant in Cadiz, Ohio. For more, read the full story.

Ohio

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

BP files for initial public offering of its U.S. pipeline assets

British energy company BP has filed for an initial public offering of its Midwest and Gulf Coast pipeline assets through BP Midstream Partners LP, the master limited partnership formed by the company's U.S. pipeline unit, Reuters reports. The news service says BP's pipeline assets include a network of 3,500 miles of pipelines and terminal facilities in the United States, including ones in Ohio. For more, read the full story.

National, Ohio

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

Hurricane’s impact shows importance of U.S. Gulf as energy hub

A new report from the International Energy Agency (IEA) argues that the effects of Hurricane Harvey shutting down the Texas oil refining industry for several weeks “could soon all but evaporate the world's glut of gasoline and other fuels,” according to the Houston Chronicle. The Paris-based agency said the hurricane episode shows how important the Gulf Coast has become to global markets as a trading center that exports 4 million barrels of petroleum products a day. "The rise of the Gulf Coast as a major energy hub means that, in some respects, it can be compared to the Strait of Hormuz in that normal operations are too important to fail," IEA said. For more, read the full story.

Global, National

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

Carrizo Oil & Gas to sell assets in Utica shale play

Houston-based Carrizo Oil & Gas Inc. has announced it will sell a portion of its oil and natural gas position in Ohio’s Utica shale play to an undisclosed buyer, reports Oil and Gas Investor. The news site says Carrizo has agreed to sell its Utica acreage, primarily located in Guernsey County, Ohio, for up to $77 million. For more, read the full story.

Ohio
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