Marcellus/Utica Driller Stock Prices Trend Up with NatGas Price

We spotted a couple of stories, one in Barron’s the other in the Wall Street Journal, about the pickup in the futures price of natural gas over the past week, and how those recent gains have led to impressive gains in the share price for Marcellus/Utica drillers. Yesterday the NYMEX Henry Hub futures price closed up 4.11% to $2.74/Mcf. The rising tide lifts all boats.
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Second Lawsuit Filed Against Cabot Claiming Securities Fraud

Here we go again. Just last week we told you that a New York City law firm couldn’t find enough interest to make a class action lawsuit against Cabot Oil & Gas using a sham indictment from the highly political Pennsylvania Attorney General’s office, so the law firm pulled the plug on the case (see Law Firm Withdraws Class Action Against Cabot re Securities Fraud). Another law firm is now trying the same thing…
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Frac Sand Company Hi-Crush Emerges from Bankruptcy

In July MDN told you that frac sand company Hi-Crush, which has customers in the Marcellus/Utica, had filed for bankruptcy (see Hi-Crush, Yet Another Frac Sand Co., Files for Ch. 11 Bankruptcy. In August we shared the news that four of Hi-Crush’s top executives got $3 million in bonuses just five days before the company declared bankruptcy (see Hi-Crush Execs Get Millions in Bonuses Days Before Ch. 11 Filing). The company has just emerged from Chapter 11 with a new board and new owners.
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PA, OH, WV: Watch Biden in His Own Words on Fracking, Fossil Fuels

Donald Trump is NOT lying about Joe Biden and the words Biden has used about his desire to ban fracking *and* eliminate the use of fossil fuels. We have the video (below) showing clips from various Biden events where he unequivocally states he will ban fracking, and (in time) eliminate the use of all fossil fuels. This is Biden in his own words. So was Biden lying then? Or is he lying now?
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IEA World Energy Outlook 2020: The Long Road Out of COVID

Each year the International Energy Agency (IEA) issues a special World Energy Outlook report. The 2020 edition was released this morning. Of course, the pandemic and energy demand destruction resulting from the pandemic is front and center in this report. The report forecasts global energy demand will drop by 5% in 2020, energy-related CO2 emissions by 7%, and energy investment by 18%. When will things turn around?
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Other Stories of Interest: Tue, Oct 13, 2020

NATIONAL: Raymond James says Henry Hub natural gas to finish 2021 near $4; Nat gas extends rally to surge to highest since March 2019; The next couple of months are crucial for U.S. oil; What does a cold winter entail for natural gas? Oh, you don’t want to know; LNG shipping costs, netbacks, and the decision to cancel cargoes; INTERNATIONAL: Climate change has a cow and worm problem.
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