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COVID Impact on PA Landowners: Low Royalties, Lease Expirations
The Washington & Jefferson College Center for Energy Policy and Management (Washington, PA) is hosting a free webinar series on “Effects of COVID-19 and the Economic Downturn on Western Pennsylvania Shale Gas Development” during June and July. Two of the three sessions have already been held, including a session yesterday that discussed the impacts of COVID-19 on landowners who have leased their land for shale drilling. According to the speaker, there have been two notable effects of the virus for landowners: lower royalties and drillers not renewing leases (allowing leases to expire).
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In March 2019 natural gas utility Consolidated Edison, which supplies Manhattan, the Bronx and most of Westchester County, slapped a moratorium on new natural gas customers from hooking up to the grid in Westchester due to lack of gas supplies (see 
EdgeMarc Energy, headquartered in Canonsburg, PA (once with 50,000 acres of Marcellus/Utica leases), filed for Chapter 11 bankruptcy in May 2019, looking to sell all of the company’s assets (see 
Yesterday the Pennsylvania Senate Environmental Resources and Energy Committee held a virtual hearing on Gov. Wolf’s plan to bypass the state legislature and force the state to join the so-called Regional Greenhouse Gas Initiative (RGGI), a group of northeastern states attempting to assassinate coal and gas-fired power generation by taxing it to death with an insane carbon tax (see 
There were 16 new permits issued in PA for shale drilling June 15-19. There were 7 new permits issued in OH for shale drilling during the same time period. There was 1 new permit issued in WV for shale drilling last week.
As we have been saying for some time, LNG exports from the U.S. are low and staying low for at least a few more months (see 
MARCELLUS/UTICA REGION: Economic reopening: Manufacturing opportunities for Pennsylvania; Small group of antis launch website to oppose Wyalusing LNG export plant; Southwest Pa.’s energy dominance can help counter China; OTHER U.S. REGIONS: Cryptocurrency mining company eyes flared gas in Permian Basin; NATIONAL: Poll: Young voters see natural gas as critical to U.S. economy; Oil prices continue their rise, albeit slowly, since April’s crash; INTERNATIONAL: Vatican calls for carbon tax, investing in alternative energy; Global gas production set to tumble in 2020; Al Gore and the post-pandemic green dictatorship.