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

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

FirstEnergy lowers sale price for natural gas-fueled power plants

Ohio-based FirstEnergy Corp. has dropped the sale price for five natural gas-fueled power plants and a hydroelectric facility in an effort to close a “drawn-out deal” with a New York-based private equity firm, reports the Pittsburgh Post-Gazette. The newspaper says First Energy had announced in January 2017 that it would sell four natural gas power plants in Allegheny, Greene, Luzerne and Franklin counties in Pennsylvania and a hydroelectric plant in Virginia to LS Power Equity Partners III LP for $925 million. But FirstEnergy has now amended its agreement with LS Power, lowering the overall sale price to $825 million and adding its interest in another natural gas plant in Virginia, according to the Post-Gazette. For more, read the full story.

Ohio, Pennsylvania

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
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