EQT to acquire stake in Strike Force Midstream
Wednesday, May 9, 2018
At the end of April, EQT Midstream Partners LP entered into a deal with Gulfport Energy Corp., agreeing to pay $175 million for Gulfport’s 25 percent equity interest in Strike Force Midstream LLC, according to a Gulfport Energy press release.
Strike Force is a midstream joint venture between Gulfport and EQT Corporation that consists of natural gas gathering assets to support Utica shale dry gas development in Belmont and Monroe counties in Ohio.
The system includes approximately 67 miles of natural gas gathering pipeline and 17,000 horsepower of compression. It gathered approximately 0.9 billion cubic feet per day during the first quarter of 2018.
Learn more: Gulfport Energy > Gulfport Energy Corporation to sell its 25% interest in Strike Force Midstream LLC for $175 Million
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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.