Shale Insight 2020 Day #1: Plastics, Politics & Crackers
Yesterday kicked off the first day of the three-day Shale Insight conference, 10th annual edition. This year’s event is all-virtual due to the coronavirus. Headliners for the first day included presentations by Pennsylvania U.S. Senator Pat Toomey, Vice President for Shell (in charge of the cracker plant) Hilary Mercer, and Secretary of the Dept. of Energy Dan Brouillette. There were a number of other presenters too. We have a summary below.
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Equitrans Midstream, which used to be part of EQT as EQT Midstream, is still EQT’s main squeeze when it comes to gathering pipelines connected to its wells. The Pennsylvania Dept. of Environmental Protection (DEP) announced yesterday it has fined Equitrans $427,650 for “slips, stabilization, and erosion and sedimentation violations at pipeline sites in Greene, Washington and Westmoreland counties.”
Last Thursday our friend Joe Barone from Shale Directories hosted the 2020 version of the annual Utica Midstream Conference in Canton, OH. Unfortunately, we could not attend. However, Joe has written up a great summary of what was said. The overriding theme of the day? Optimism for 2021.
An unusual situation for permits to drill new wells for last week. Pennsylvania only had 5 new permits while West Virginia had 12 new permits. It’s typically the other way around. Could this be the beginning of the effects from PA raising the permit fee from $5,000 to $12,500 per well? Maybe! Ohio had no new Utica permits issued last week. Drilling seems to have slowed in the Buckeye State.
Pieridae Energy’s Goldboro LNG project, located in Nova Scotia (with the potential to export Marcellus/Utica molecules) has been on our radar for years. In August Pieridae hired a senior VP to run the project (see 
Consulting powerhouse Ernst & Young (EY) has just published results from a new survey titled “Oil & Gas Digital Transformation and Workforce Survey.” The survey/study finds “digital transformation” of oil and gas companies is essential to the future of our industry. What, exactly, is “digital transformation”? We’ll tell you.
NATIONAL: Are parking lots the next target for anti-fracking activists?; E&Ps plot lean second-half investment after second-quarter capex retreat; Polling continues to show voters support fracking; DOJ urged to investigate US environmental NGOs for foreign influence; INTERNATIONAL: Shell to cut up to 9,000 jobs as oil demand slumps; Ontario’s green-energy catastrophe.