Southwestern Energy Cutting Rig Count from 6 to 2 in M-U
Yesterday Southwestern Energy, a major Marcellus/Utica driller, released its second quarter 2019 update and talked about the rest of 2019 and beyond. Southwestern total production in 2Q was 186 billion cubic feet equivalent (Bcfe), an 11% increase compared to 2Q18 (excluding the Fayetteville, which Southwestern sold last year to become 100% focused on the M-U). That 186 Bcfe number includes 148 Bcf of gas production, 937,000 barrels of oil production, and 5.5 million barrels of natural gas liquids (NGL) production.
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One of the most liberal governors in America, Pennsylvania Gov. Tom Wolf, continues his campaign to kill the Marcellus Shale by slapping a severance tax on top of an already-high impact tax. He’s now getting a little help from his lib friends at the polling unit at Franklin & Marshall College. When asked a misleading question, a recent poll of 627 PA residents found 69% of them “strongly” or “somewhat” favor Wolf’s Santa Claus promises in his “Restore PA” plan–if it’s funded by a severance tax on Marcellus Shale.
Monday evening the Mariner East 2 pipeline was down for routine maintenance at a pump station in Chester County, PA (near Philadelphia). When workers relit a pilot in a flare used to burn off excess gases, there apparently was some accumulated gas in the flare stack and it ignited, creating a loud boom. Nobody was injured, there was no danger. Yet that incident is now being labeled an “explosion” by anti-fossil fuel activists and their sycophants in the press.
We have a proud tradition in America of vigorous debate and free speech. We have protests. We still, for now, have a free press where we can express our ideas–whether others agree with us or not. But some on the environmental left go too far. They don’t just protest, they break the law. Some even become violent. Take the Mountain Valley Pipeline (MVP) project, as an example.
MARCELLUS/UTICA REGION: Clean Air Council calls for shutdown of Mariner East 2 pipeline after Chester County ‘backfire’; Williams Pipeline battle continues: What to know about the proposed natural gas conduit; OTHER U.S. REGIONS: Tellurian mulling new Driftwood LNG stake deals; Top U.S. shale producer offers bleak view of U.S. output growth; INTERNATIONAL: Black & Veatch: FLNG to push gas industry growth.