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Equitrans Midstream Collaborates with US Regulator on MVP Project Contract

The PHMSA mandates Equitrans to clearly detail the progression measures for the Mountain Valley Pipeline completion.

Equitrans Midstream, overseeing the Mountain Valley Pipeline (MVP) in Virginia's Jefferson National Forest, has committed to enhanced safety protocols following a consent order from the Pipeline and Hazardous Materials Safety Administration (PHMSA). As part of the agreement, Equitrans and MVP LLC have vowed to transparently detail the pipeline's progression, aiming to bolster public trust.

“Importantly, the agreement outlines actions that are designed to reassure the public of MVP’s integrity and demonstrates our commitment to safe, responsible construction and in-service operations,”

Diana Charletta, Equitrans president and COO.

KTA-Tator Inc. will independently monitor MVP's pipeline coating practices and enforce necessary measures during construction. This pact hastens MVP's inspection timelines, emphasizing safety. Equitrans President, Diana Charletta, reiterated that the safety and integrity of MVP remain paramount.

About Equitrans Midstream Corporation

Equitrans Midstream Corporation (Equitrans) stands as a premier North American energy infrastructure company. Its primary operations focus on natural gas transmission, storage, and water services. With assets that span across the Appalachian Basin, the company's vision revolves around leveraging its core strengths to provide safe and reliable energy to its stakeholders.

Equitrans boasts an extensive portfolio of natural gas transmission and storage assets, including more than 950 miles of transmission pipelines.
The company's commitment to safety and compliance is reflected in its focus on operating excellence. With a dedicated workforce, Equitrans ensures the secure and efficient delivery of natural gas.
Equitrans' financial strategy revolves around maintaining a strong balance sheet, supported by robust credit metrics. Their commitment to stakeholders is evident in their focus on delivering sustainable returns through disciplined capital allocation and growth projects.

Mountain Valley Pipeline LLC

Mountain Valley Pipeline (MVP) has been under significant scrutiny due to its environmental implications and the challenges it presents.

MVP, spanning roughly 303 miles, is proposed to transport natural gas from West Virginia to Virginia. This project has faced numerous setbacks. Last year, permits granted by Virginia’s Department of Environmental Quality and the U.S. Forest Service were invalidated by the 4th Circuit. MVP has been gearing up to commence construction, especially focusing on the pipeline's stretch within the national forest.

A federal appeals court mandated a temporary cessation of MVP's construction within a national forest, pending a review requested by environmental groups challenging the Biden administration's endorsement of the pipeline.

The U.S. Court of Appeals for the 4th Circuit, which had previously turned down permits for the project, concurred unanimously to put construction on hold. This decision was influenced by the debt ceiling law's directive to federal bodies to issue the necessary permits for this contentious pipeline.

Reactions to the court's verdict have been varied. While environmentalists and certain community members laud the decision, key political figures like Senate Energy Chair Joe Manchin have expressed their dissent. They argue that the court's move stands in contradiction to the clear directives of the debt ceiling legislation.

Despite the legal battles, the Biden administration has been supportive of the MVP. They believe the pipeline is critical to the U.S. energy security framework.

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Occidental, CrownRock Merger Under Regulatory Review: 2024 Update

CrownRock's 94,000+ net acres acquisition complements Occidental's Midland Basin operations, valued at $12.0 billion. This expansion enhances Occidental's Midland Basin-scale and upgrades its Permian Basin portfolio with ready-to-develop, low-cost assets. The deal is set to add around 170 thousand barrels of oil equivalent per day in 2024, with high-margin, sustainable production.

Denver-rooted Civitas Resources, Inc. concluded an arrangement to acquire Vencer Energy's assets in the Midland Basin from Vitol for an approximate $2.1 billion. The $2.1 billion arrangement between Civitas Resources and Vencer Energy is a strategic maneuver that enlarges Civitas' presence in the resource-rich Permian Basin. By securing approximately 44,000 net acres, Civitas not only acquires a substantial asset but also amplifies its production capacity by 62 to 62.5 Mboe/d. The transaction, which is anticipated to complete in January, is perceived as a cost-effective acquisition that markedly enhances Civitas Resources’ scale in the Permian Basin.

As world leaders gather at the COP29 climate summit, a surprising trend is emerging: some of the biggest oil companies are scaling back their renewable energy efforts. Why? The answer is simple—profits. Fossil fuels deliver higher returns than renewables, reshaping priorities across the energy industry.

The global oil market is full of potential but also fraught with challenges. Demand and production are climbing to impressive levels, yet prices remain surprisingly low. What’s driving these mixed signals, and what role does the U.S. play?

Shell overturned a landmark court order demanding it cut emissions by nearly half. Is this a victory for Big Oil or just a delay in the climate accountability movement?

2024 blog posts