NextEra to purchase Marcellus gas pipeline for $1.37B
Wednesday, October 2, 2019
NextEra Energy Partners has agreed to buy Meade Pipeline Co. in a deal valued at about $1.37 billion, according to Bloomberg.
Meade owns a 39.2% interest in the Central Penn Line, a 185-mile pipeline that connects the Marcellus Shale in Pennsylvania to the mid-Atlantic and southeastern U.S. The line has the capacity to deliver 1.7 bcf/day of natural gas.
NextEra’s deal includes a $90 million future expansion opportunity at the existing pipeline, which would add 600 mcf/day of natural gas capacity to Central Penn through the addition of compression at new and existing stations.
Learn more: Seeking Alpha > NextEra Energy Partners to buy Meade Pipeline for $1.37B
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Shale FAQ
What is fracking?
Fracking is a slang term for hydraulic fracturing. Fracturing is a process by which highly pressurized fluid is pumped thousands of feet into the ground to fracture rock formations. The goal is to release the natural gas that’s locked inside the rock.
Is it safe?
What most concerns people about fracturing is ground water contamination. The worry is that fractures underground, caused by the process, will extending upwards and into aquifers, releasing gas and chemicals into the ground water supply. There’s been no confirmed reports of such a thing happening. Though surface spills and drill site blowouts can lead to localized environmental concerns.
Will my water catch on fire?
Flammable water is caused by the release of methane gas into a drinking water supply. Methane gas occurs naturally and can be released by any kind of drilling, including water wells. In Pennsylvania officials fined Chesapeake Energy $1 million for contaminating ground water with methane. It was determined that the company had not properly cemented it’s boreholes and gas migrated up the well, between rock and into aquifers.