Oil & Gas company Enerplus recently made a presentation at an industry conference about their corporate outlook and the state of the markets from their point of view, in particular the situation with various shale deposits, drilling, and take away capacity.
They are also a “shipper” on the PennEast pipeline, they have engaged in long term precedent agreements to transport gas along it.
Their presentation included this slide highlighting upcoming Pennsylvania Shale projects:
I’ve annotated the slide in red to show the portion on PennEast.
According to Enerplus’s internal projections, they think at best PennEast is going to be delayed all the way back into the second quarter of 2019. Note that this is not PennEast’s estimate, but Enerplus’ own internal estimate based on their knowledge of the project and permitting headwinds.
This is of course good news for PennEast opponents, and is another in a very long string of delays. Remember, according to PennEast’s original timelines, they would already be in service right now! And now we are seeing it being pushed out yet again.