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CNX Delays Completing 11 Wells, Slicing Production 30 Bcfe in ’24

CNX Resources, headquartered in Pittsburgh, is the latest major Marcellus/Utica driller to announce a pullback in spending and production due to low-low prices that natural gas is fetching. Yesterday, CNX announced the company will “delay completions activities on three upcoming Marcellus Shale pads consisting of 11 wells to avoid bringing incremental volumes into the current oversupplied market.” The delay means CNX will spend $50 million less on drilling in 2024 and produce 30 billion cubic feet per day (Bcf/d) less over the course of this year.
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Temporary Setback for CNX Gas & Water Pipeline Project in SWPA

CNX Resources filed a request with the Pennsylvania Dept. of Environmental Protection (DEP) in April 2023 to build two pipelines — two for natural gas — along a 13.9-mile route in Bell, Loyalhanna and Salem Townships in Westmoreland County. An additional 4-mile pipeline would be built for water. Called the Slickville Trunkline Project, the DEP told CNX last December (yes, it took the agency eight months to reply!) that the application was “incomplete” and that CNX had 60 days to provide the extra info.
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PA DEP Uses Carrot & Stick re Paperwork from Conventional Drillers

The Pennsylvania Dept. of Environmental Protection (DEP) recently (maybe yesterday?) posted a notice on its website announcing that conventional oil and gas well operators will not be eligible for new methane reduction well plugging grants (free money!) if they are not in compliance with state law paperwork requirements. Channeling their inner schoolmarm, the DEP tells drillers if they don’t have the proper “reports” filed about those wells, they (a) won’t see any money from Biden’s bloated giveaway program, and (b) the DEP will, sooner or later, come knocking and will fine them for paperwork transgressions. The old carrot and stick.
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PA Gov Shapiro Puffs His Chest to Announce Plugging 200 Old Wells

The blowhard Democrat Governor of Pennsylvania, Josh Shapiro, took a bow last year to tout that “his” administration (as opposed to the Democrat who preceded him, Tom Wolf) had plugged more than 130 abandoned old oil and gas wells in the state, more than “the previous eight years combined” (see PA DEP Spending $44M This Yr, $76M Next Yr to Plug Orphaned Wells). The blowhard is back, puffing his chest out to announce the number is now 200.
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NY Assembly Passes Bill to Ban Using CO2 to “Frack” Wells

Last month, MDN told you that several New York Democrat legislators introduced a new bill to ban the use of carbon dioxide (CO2) in any process to extract natural gas or oil in the Empire State (see NY Democrats Release Bill to Ban Use of CO2 in Gas Extraction). Following pressure from Big Green groups like Food & Water Watch, the corrupt Democrat legislators in the NY Assembly voted yesterday 97-50 to adopt this illegal bill. Now, it’s on to the Senate, where we’re sure corrupt Senators will pass it, too. Welcome to the People’s Republic of New York.
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Chinese Co. Signals Opposition to Venture Global LNG Time Extension

Venture Global has been defrauding its contracted customers for more than two years by not officially christening its Calcasieu Pass LNG export facility in Louisiana as officially open for business, denying customers cargoes under contracted prices. Yet during that time, Venture Global has exported (on the spot market) more than 250 LNG cargoes! It’s a sham, and everybody knows it. Venture Global got the Federal Energy Regulatory Commission (FERC) to extend the “must officially be open by date” for an extra year last year (expired Feb 21st of this year). Unbelievably, Venture Global wants FERC to extend it for ANOTHER year (see Venture Global Asks FERC for Another Year to Finish CP LNG). Needless to say, Venture Global’s contracted customers, the ones being defrauded (including a Chinese company), object…
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Other Stories of Interest: Wed, Mar 13, 2024

OTHER U.S. REGIONS: AES files to convert last coal units to natural gas; NATIONAL: U.S. propane exports established a new record in December 2023; Analysts see US gas storage surplus widening as mild weather persists; SEC’s destructive climate gambit; INTERNATIONAL: Shell considers slowing its carbon emissions cuts; Europe’s secret weapon in its energy war with Russia; Rystad says OPEC+ production rose month on month; Climate bureaucrats give China a free pass.
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