05/11/17 Links of the Day: More 1st Quarter Reports, Green to Sue in Effort to Stop Nexus, and More

Energy in Depth:  Inflammatory Infant Mortality Study a Prime Example of Flawed 'Pay to Play' Science   -   "An inflammatory new study claiming fracking “kills babies” was published last week by Scientific Research Publishing (SCIRP). The study received zero mainstream media attention, which probably has something to do with its numerous glaring flaws. But it also points to a wider problem – that of subpar studies appearing in what are known as “pay-to-play” open-access journals such as..."

Bloomberg:  Oil's OPEC-Driven Gain Wiped Out as Shale Boom Offsets Cuts   -   "The oil rally following OPEC’s deal has disappeared. Futures on both sides of the Atlantic dropped to their lowest since late November on growing signs that the group’s production cuts are failing to clear a surplus of crude. Oil stocks felt the pinch, with the S&P Oil & Gas Exploration and Production Index slumping as much as 4.9 percent..."

Energy & Environmental Law Blog:  Ohio: Updated Statutory Unitization Guidelines   -   "On May 3, 2017, the Ohio Department of Natural Resources, Division of Oil and Gas Resources Management (the Division) issued revised guidelines for statutory unitization applications. The guidance document–largely rewritten from the previous version (issued in May 2014)—contains a number of notable changes, including the following..."

Seeking Alpha:  Chesapeake Energy: The Good and the Ugly   -   "May 4th was not a particularly pleasant day for shareholders of Chesapeake Energy Corp. (NYSE:CHK). After reporting financial results for the first quarter of its 2017 fiscal year, shares of the business, due also in large part to plummeting energy prices, closed down 7.4%. Seeing as how..."

Forbes:  Are Activists Harming the Very Environment They Claim to Protect?   -   "Over the past seven years, the entire country has read or watched news stories concerning activists protesting pipelines. Beginning first with the Keystone XL (KXL) oil pipeline, and moving on to the Dakota Access Pipeline (DAPL), these activists have forever changed the way..."

The Advertiser-Tribune:  Crossroads of Energy Infrastructure   -   "In western Ohio, the dominant energy technology is from utility-scale wind and solar power. In eastern Ohio, the main technology is extracting natural gas by fracking shale. In Seneca County, they come together in a unique way, said Dale Arnold, director of energy, utility and local government policy for Ohio Farm Bureau Federation. As he understands the federal government’s energy policy, Arnold said President Donald Trump means to allow new and old technology to..."

WKSU:  Nonpartisan Coalition Opposes the $300-Million-a-Year Bailout for FirstEnergy's Nuclear Plants   -   "The proposals at the Statehouse to subsidize FirstEnergy’s two nuclear plants are getting some pushback from about 40 different entities in Ohio. The Coalition Against Nuclear Bailouts has bipartisan support from elected officials, pastors and even organizations like AARP and the Ohio Coin Machine..."

Energy in Depth:  Anti-Fracking Donor Memo Mapped Out Strategy to Attack Oil and Gas with Questionable Health Claims   -   "A strategy memo from 2012 encouraged anti-fracking groups to make connections between health problems and fracking, even when no evidence existed to support the linkage. The goal of the plan, which included leveraging the power of the media and a focus on young children, was to undermine support for oil and natural gas development and expand regulations. The 2012 memo, entitled “Public Health Dimensions of Horizontal Hydraulic Fracturing: Knowledge, Obstacles, Tactics, and Opportunities,” was authored by Seth Shonkoff, who at the time was..."

Ohio Oil and Gas Assocation:  Ohio Mineral Owners Score a Win in Efforts to End De facto Fracking Moratorium on State Lands   -   "It appears Ohio mineral owners have had just about enough of the federal and state government interfering with their right to develop minerals located under their private property. At the urging of the National Association of Royalty Owners (NARO) Appalachia and Landowners for Energy Access and Safe Exploration (LEASE), Ohio Republican lawmakers this week added a provision..."

Ashland Times-Gazette:  City of Green Plans Suit to Stop Nexus Pipeline Construction   -   "A mayor has upped the ante in the fight over a proposed high-pressure natural gas pipeline by hiring attorneys to file a lawsuit aimed at stopping the pipeline from being built or stopping the project altogether. The Green City Council authorized spending $100,000 at a special meeting Tuesday to hire a Cleveland firm specializing in environmental law. This comes weeks after the council agreed to give $10,000 to a group preparing its own..."

Energy in Depth:  New EPA Study Indicates Agency is Greatly Exaggerating Methane Emissions   -   "A new U.S. Environmental Protection Agency (EPA) study released last week indicates the agency may be greatly exaggerating oil and natural gas system methane emissions. By using a combination of extractive air sampling and remote optical gas imaging (OGI) tools to analyze 80 pneumatic control systems across eight well pads, the study found oil and gas methane emissions in Utah’s Uinta Basin are “significantly lower” than previously..."

Bloomberg:  Shale Drillers Are Outspending the World with $84 Billion Spree   -   "U.S. shale explorers are boosting drilling budgets 10 times faster than the rest of the world to harvest fields that register fat profits even with the recent drop in oil prices. Flush with cash from a short-lived OPEC-led crude rally, North American drillers plan to lift their 2017 outlays by 32 percent to $84 billion, compared with just 3 percent for international projects, according to analysts at Barclays Plc. Much of the increase in spending is flowing into the..."

Gas & Oil:  Legal Battles Continue in Ohio Over Oil & Gas Rights   -   "Many Ohio lawsuits between surface owners and mineral owners over ownership of valuable oil and gas rights are being filed, and many others remain active, even after the Supreme Court of Ohio issued its sweeping decision on September 15, 2016 in Corban v. Chesapeake Exploration, LLC, 2016-Ohio-5796. Corban held that the 1989 version of the Ohio Dormant Minerals Act (“1989 DMA”) could only be relied upon by surface owners in cases brought before June 30, 2006. The Court also held that the 1989 DMA was nothing more than..."

Energy in Depth:  Wayne National Forest Fracking Lawsuit a Prime Example of Activists' "Litigious Battles to Drive Regulation"   -   "EID recently highlighted that national fringe environmental groups have promised “litigious battles, to drive regulation” as part of their goal to ban fracking. That effort is playing out in Ohio, where the Center for Biological Diversity, Ohio Environmental Council, Heartwood and the Sierra Club have an axe to grind with the Bureau of Land Management (BLM) and the U.S. Forest Service (USFS) after their numerous protests against leasing in..."

Seeking Alpha:  Gulfport Energy Q1 2017 Results - Earnings Call Transcript   -   "Yesterday afternoon, Gulfport reported first quarter 2017 net income of $154.5 million or $0.91 per diluted share. These results contain several non-cash items, including an aggregate non-cash derivative gain of $106.8 million, and expense of $1.3 million in connection with the recent SCOOP acquisition, and a loss of $4.9 million in connection with Gulfport's interest in..."

Seeking Alpha:  Rex Energy's (REXX) CEO Tom Stabley on Q1 2017 Results - Earnings Call Transcript   -   "Last week we announced the closing of our new $300 million first lien delayed draw term loan. Our initial borrowings under the term-loan were approximately $144 million, which were primarily used to repay all of the borrowings under our former senior secured revolving credit facility and to place $19.3 million of cash on..."

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