Oil + Gas Update - PA Supreme Court Denies Appeal in Clash Between Local Zoning of Oil + Gas Wells and Environmental Rights.
Natural gas and oil prices remained relatively flat since our last report following another drop in the national rig count. The pipeline scene was relatively quiet except for fines assessed against MVP and more protests of the ACP. In Appalachia court news, the Pennsylvania Supreme Court denied allowance of appeal from a decision that rejected an environmental-rights challenge to a local zoning ordinance authorizing oil and gas wells in additional zones. In other regions, the North Dakota Supreme Court invalidated oil and gas leases for public lands that violated public notice requirements and a court of appeals in Texas broadly interpreted the phrase "oil and gas" in a pipeline easement to authorize transportation of refined petroleum products.
Here's your week in review...
Rig Counts, Spot Prices + Oil Prices
Rigs: National (-987); Marcellus (-60); Utica/Point Pleasant (+20)
Brent Crude: +$72.21/bbl
West Texas Intermediate: +$62.76/bbl
NYMEX: June 2019 Contract @ -$2.601/MMBtu.
Spot Prices: Henry Hub (+$2.61/MMBtu); Dominion South (+$2.23/MMBtu); Tenn. Zone 4 (-$2.13/MMBtu)
("+" or "-" or blank denotes increase, decrease, or flat. )
WOPL - Appalachia
In our new section, WOPL ("waiting on pipelines"), we provide the latest news on the status of various pipeline projects in Appalachia:
Adelphia Project (Greater Philadelphia Region): Nothing new to report.
Atlantic Coast (W. Va. to Va. and NC): Local religious leaders took to the streets in protest of the ACP project.
Atlantic Sunrise (Northeastern PA to SE Pennsylvania): Nothing new to report.
Constitution (Northeastern PA to NY): Nothing new to report.
Empire Pipeline (NY to PA): Nothing new to report.
Leidy South - Benton Loop Expansion (PA): Nothing new to report.
Mariner East (Western PA to Eastern PA): Nothing new to report.
Mountaineer XPress (WV): Nothing new to report.
Mountain Valley Pipeline (Northern WV to Southern Va. and NC): Mountain Valley Pipeline will pay $266,000 in fines for environmental issues along the pipeline route that date back to April 2018.
NEXUS (Ohio to Michigan): Nothing new to report.
NFG FM100 Project (NC PA to Transco): Nothing new to report.
Northeast Supply Enhancement Project (NY): Nothing new to report.
Northern Access (NW PA to Western NY): 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.
Rover (OH, WV, PA to Michigan): Nothing new to report.
TransCanada Eastern Panhandle Project (PA to WV): Nothing new to report.