Appalachia

MVP Clears Major Permitting Hurdle as Forest Service Completes Supplemental Review

MVP Clears Major Permitting Hurdle as Forest Service Completes Supplemental Review

The U.S. Forest Service (USFS) has finalized a supplemental environmental review of the Mountain Valley Pipeline (MVP), a key step in resolving a permitting setback that has prevented construction on a small portion of the project routed through the Jefferson National Forest. Late last week, the USFS released a final supplemental environmental impact statement for…

December 14, 2020
Solicitor General Supports PennEast Petition for Supreme Court Review

Solicitor General Supports PennEast Petition for Supreme Court Review

The Solicitor General has filed an amicus brief supporting the PennEast Pipeline’s petition for the U.S. Supreme Court to hear its case against New Jersey’s efforts to stop the project from condemning state-owned land.  Acting Solicitor General Jeffrey B. Wall said the certificate of public convenience and necessity issued to PennEast by FERC “expressly” allows…

December 11, 2020
Forecasts Seen Less Bearish as Natural Gas Futures Extend Gains Early

Forecasts Seen Less Bearish as Natural Gas Futures Extend Gains Early

Boosted by a colder look to forecasts for early December, natural gas futures extended their recent gains in early trading Tuesday. The December Nymex contract was up 5.5 cents to $2.766/MMBtu at around 8:40 a.m. ET. January was up 6.3 cents to $2.886. After “not being quite as bearish” in Monday’s runs, the weather data…

November 24, 2020
Natural Gas Forward Prices Rally as LNG Demand Sets New High, Cold Blast Sweeps East

Natural Gas Forward Prices Rally as LNG Demand Sets New High, Cold Blast Sweeps East

For all the intraweek volatility in the natural gas forward markets, prices ultimately capped the Nov. 5-11 period moderately higher as chilly weather crept back into the long-range forecast, according to NGI’s Forward Look. Although it’s still unclear whether the cold lasts, Appalachia markets rallied sharply as the expected drop in temperatures coincided with a…

November 13, 2020
Cabot, Southwestern Likely to Keep Natural Gas Output, Spending Flat Next Year

Cabot, Southwestern Likely to Keep Natural Gas Output, Spending Flat Next Year

Appalachian pure-plays Cabot Oil & Gas Corp. and Southwestern Energy Co. said Friday they’ plan to hold the line on spending and keep production roughly flat with this year’s levels in 2021.  “Despite the expectation for higher price realizations and cash flow in 2021, our capital allocation priorities remain focused on maintaining our current production…

October 30, 2020
Appalachia’s CNX Balks at Merger Talk, while Antero Concentrates on Cost Cutting

Appalachia’s CNX Balks at Merger Talk, while Antero Concentrates on Cost Cutting

Appalachian pure-play CNX Resources Corp. indicated Thursday that a merger with any of its peers is likely out of the question when measured against current performance and the value it’s likely to create in the coming years.  “You’re going to need to find someone who is not going to weaken or dilute our best in…

October 30, 2020
West Virginia Governor’s Race Marks Otherwise Quiet Election Season in Appalachia

West Virginia Governor’s Race Marks Otherwise Quiet Election Season in Appalachia

Little is expected to change this election season at the local and state level for the Appalachian Basin’s energy sector, where there are few close races and no major ballot initiatives impacting oil and gas.  Unlike in years past, there are no high profile clashes for state legislatures, governors’ offices or closely watched referendums for…

October 9, 2020
EQT Again Curtailing Appalachian Natural Gas; Equitrans Contract Issues Surface

EQT Again Curtailing Appalachian Natural Gas; Equitrans Contract Issues Surface

EQT Corp. has once again curtailed Appalachia natural gas production, taking around 425 MMcf/d net output offline Sept. 1, the company said last week. The move to cut production, announced at the Barclays CEO Energy-Power Conference, came less than two months after the largest natural gas producer in the United States brought back online 1.4…

September 14, 2020
Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

Southwestern Strikes All-Stock Deal for Appalachian Pure-Play Montage

Southwestern Energy Co. agreed to acquire Montage Resources Corp. in an all-stock deal that would create the third largest oil and natural gas producer in the Appalachian Basin, with 3 Bcfe/d of combined production.  The deal is valued at $857 million, including debt, according to Raymond James & Associates Inc. It would give the Houston-based…

August 12, 2020
Seneca Continuing Appalachian Shut-ins on Weak Natural Gas Prices

Seneca Continuing Appalachian Shut-ins on Weak Natural Gas Prices

Seneca Resources Co. LLC cut its drilling program to one rig in June and continues to curtail Appalachian spot market production as it has for most of its fiscal year because of low natural gas prices. Seneca, National Fuel Gas Co.’s (NFG) upstream affiliate, curtailed 7.3 Bcf production during the fiscal third quarter (3Q2020) “due…

August 11, 2020
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