EOG Tells Conf Attendees It Is Now Ramping Up Ohio Utica Drilling
We’ve been waiting for this! For the past few years, since EOG Resources acknowledged it had quietly amassed nearly half a million acres of leases in the Ohio Utica Shale, the company has been experimenting with crude oil drilling in the Utica. Each quarter EOG’s managers have sung the praises of the Utica (see EOG Says Utica Oil Can ‘Compete with the Best Plays in America’), promising a full rollout of drilling would come soon, at some point. Soon is here. According to EOG COO Jeff Leitzell, speaking at Barclays CEO Energy-Power Conference in New York yesterday, the company is going to put more capital into Utica drilling “now.”
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In 2015, a group of nearly 60 landowners in northeastern Pennsylvania who had leased their land for fracking filed a lawsuit against Chesapeake Energy, Anadarko, Statoil (now Equinor), Mitsui E&P, and Access Midstream (later bought by Williams), alleging the companies had improperly deducted post-production costs (e.g., gas gathering and transportation expenses) from royalties owed to the landowners in breach of their respective leases. The lawsuit also alleged collusion and conspiracy to defraud the landowners. The lawsuit was on hold for many years while other lawsuits played out. Earlier this year, a federal court in Scranton unpaused this lawsuit, and yesterday, the judge ruled, tossing out the landowners’ claims.
What’s your price, Pennsylvania oil and gas industry? Are you willing to sell yourselves to the Democrats for $152 million (revised down to $114 million) in bribes? How about if Biden-Harris sweetens the pot and rushes a check for $76 million to the state, as they did yesterday? Can you not see through this sleazy attempt to unduly influence the election? In August, Biden-Harris promised (but hasn’t yet delivered a dime of) up to $152 million in “Phase 2” federal money, i.e., your taxpayer dollars, to help plug old conventional oil and gas wells in the Keystone State (see 
The Board of Supervisors for Cecil Township in Washington County, PA, has caved to pressure from radical leftists and is floating a plan to effectively ban all new shale drilling in the township by increasing setbacks from “protected structures” from 500 feet to 2,500 feet (a half a mile!). The supervisors will hold a special meeting tonight to discuss this lunacy. We strongly recommend you attend and voice your opposition.
According to the U.S. Energy Information Administration (EIA), North America’s liquefied natural gas (LNG) export capacity is on track to more than double between 2024 and 2028, from 11.4 billion cubic feet per day (Bcf/d) in 2023 to an astonishing 24.4 Bcf/d in 2028! That is, if all the projects currently under construction begin operations as planned. However, that increase includes not just exports from the U.S. but also from Canada and Mexico. Yes, somehow, magically, countries like Canada and Mexico, where Big Green thought it held an iron grip, will soon begin to export LNG (some of it U.S. molecules).
In January, Joementia announced he would “pause” any approvals for new LNG export plants (currently 17 requests in the pipeline) for at least one year while his people fart around pretending to figure out how to measure global warming as a new consideration for whether or not to approve such projects (see 
OTHER U.S. REGIONS: Waha’s negative gas prices set an unwelcome, painful record; NATIONAL: Don’t be fooled – Kamala is a zero-carbon green radical; US LNG exports rebound in August on higher output from Freeport; Winter demand may not boost natural gas prices, Bank of America says; INTERNATIONAL: World’s biggest underwater methane hotspot is found off Barents Sea coast; Brent crude tumbles below $75 a barrel; Let’s be honest – shale fracking has saved the West.