At the Well Weekly (v.11.6.2020)

Oil + Gas Update | TSAs Rejected in Bankruptcy.

The NYMEX and Henry Hub fell slightly but natural gas spot prices in Appalachia plummeted dramatically since our last report amidst mild Fall weather. In pipeline news, MVP and ETP announce in-service dates for their respective pipeline projects. In court news, a bankruptcy judge in Delaware blessed a motion to reject transportation agreements, Sunoco's trespass claim against an outspoken, contemptuous landowner in Pennsylvania survived a motion, and frac-sand hauling companies recovered for unpaid services in the Marcellus.

Here's your week in review...

Rig Counts, Spot Prices + Oil Prices

  • Rigs: National (+300); Marcellus (-25); Utica/Point Pleasant (-5)

  • Brent Crude: +$39.45/bbl

  • West Texas Intermediate: +$37.14/bbl

  • NYMEX: November 2020 @ -$3.046/MMBtu

  • Spot Prices: Henry Hub (-$2.60/MMBtu); Dominion South (-$.0.52/MMBtu); Tenn. Zone 4 (-$0.40/MMBtu)

("+" or "-" or blank denotes increase, decrease, or flat. )

WOPL - Appalachia

  • Adelphia Project (Greater Philadelphia Region): Nothing new to report.

  • Atlantic Sunrise (Northeastern PA to SE Pennsylvania): Nothing new to report.

  • Dakota Access (Northwest US): Nothing new to report.

  • Empire Pipeline (NY to PA): Nothing new to report.

  • Keystone Pipeline (Canada/US): Nothing new to report.

  • Leidy South - Benton Loop Expansion (PA): DEP issued notice in the Pennsylvania Bulletin of the right to appeal the Section 401 certification under the Clean Water Act for the Leidy South Natural Gas Pipeline expansion project.

  • Mariner East (Western PA to Eastern PA): Energy Transfer LP said it plans to finish work on Mariner East 2X NGL pipeline in Pennsylvania by the end of the year and the final phase of the Mariner East I and II projects in the second quarter of 2021.

  • Mountaineer XPress (WV): Nothing new to report.

  • Mountain Valley Pipeline (Northern WV to Southern Va. and NC): MVP pushed back the start date for the pipeline until later in 2021 amidst additional legal challenges.MVP has experienced years of delay and costs are projected to reach $5.8-$6 billion, nearly $3 billion over original estimates.

  • NEXUS (Ohio to Michigan): Nothing new to report.

  • NFG (PA): Nothing new to report.

  • NFG FM100 Project (NC PA to Transco): Nothing new to report.

  • Northeast Supply Enhancement Project (NJ/NY): Nothing new to report.

  • Northern Access (NW PA to Western NY): Nothing new to report.

  • Northern Supply Access Project (Appalachia to Gulf Coast): Nothing new to report.

  • PennEast (PA to Central Jersey): Nothing new to report.

  • Regional Energy Access (NE PA to PA/NJ): Nothing new to report.

  • Revolution Pipeline (PA): Nothing new to report.