Energy Transfer considers selling stake in Rover Pipeline
Wednesday, July 17, 2019
Energy Transfer LP is considering the potential sale of its 33% stake in the Rover Pipeline, which carries gas from the Appalachian Basin to customers across the Midwest, according to an unnamed source as reported by Bloomberg.
Energy Transfer has hired an advisor to pursue a potential sale of its operated interest in the Rover pipeline, which could sell for as much as $2.5 billion.
At this time, no decision has been made and the company could choose not to sell.
Learn more: Bloomberg > Energy Transfer weighs sale of Rover Pipeline stake
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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.