Rystad Says Gas Boom Coming to M-U and Haynesville Starting 2022
Recently the U.S. EIA (Energy Information Administration) predicted natural gas production in 2021 will increase, slightly, over 2020’s dismal performance (see EIA STEO Predicts NatGas Supply Goes Up, Demand Stays Down in 2021). Last year U.S. production was 90.8 billion cubic feet per day (Bcf/d). EIA predicts this year production will hit 91.4 Bcf/d, still less than the all-time high of 92.1 Bcf/d hit in 2019. Another number cruncher, Rystad Energy (independent energy research and business intelligence company headquartered in Oslo, Norway) has a different prediction for U.S. production this year, sinking lower than last year to 89.7 Bcf/d. But hang on, because a boom is coming, says Rystand, just around the corner.
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It’s nice to see Pennsylvania’s Republican legislators playing hardball with the out-of-control governor of Pennsylvania, Tom Wolf. Yesterday PA Senate Republicans wrote a letter to Gov. Wolf to advise him they will reject all future nominees to the state Public Utility Commission (PUC) until he withdraws his executive order joining the so-called Regional Greenhouse Gas Initiative (RGGI), a carbon tax scheme aimed at shutting down coal and natural gas-fired power plants in the state.
MPR Supply Chain Solutions (i.e. Mountaineer Products Inc.) operates a 20-acre transloading facility along the shore of the Ohio River in Belmont County (barge, truck, and rail). In 2015 MDN wrote about MPR expanding its frack sand terminal at that location (see 
Yesterday our illustrious president, Joe Biden, shot off his mouth announcing plans to cut so-called greenhouse gas emissions by 50% in the next 10 years while creating millions of “good-paying, union jobs.” It’s an anti-fossil fuel pig in a poke. Biden announced his latest brainstorm during a “climate summit” with some 40 other world leaders, including Chinese President Xi Jinping and Russian President Vladimir Putin. We’re pretty sure both Xi Jinping and Putin were snickering at the prospect of America committing energy suicide, something they have no intention of doing.
The Chester County, PA District Attorney, Democrat Deb Ryan, has pressured and bullied Energy Transfer (ET) and its Sunoco Pipeline subsidiary into signing a “consent decree” that guarantees if ET spills one cup of drilling mud or creates any kind of “public nuisance” in finishing up work on the Mariner East pipeline, the DA gets to haul the company into county court and charge it with a crime. The consent decree means in addition to the state Dept. of Environmental Protection (DEP) breathing down their necks, ET now gets a second master (AG Ryan) breathing down their necks too. Joy.
Cabot Oil & Gas hosts a series of in-person and virtual events called Think About Energy (TAE). Since the pandemic, the events have been all virtual (webinars). Earlier this week another virtual TAE event was hosted by Cabot executive director of public relations (and MDN friend), George Stark. George had an interesting discussion with Congressman Fred Keller, Republican from Synder County, PA, and U.S. House Whip Steve Scalise, Republican from Louisiana. The topic? American energy independence and the importance of shale energy to our country’s future.
After four months of steady increases in the U.S. rig count, last week (the week ending April 21) the Enverus U.S. rig count “took a step back” with a decrease in the count. It was the first time this year the count has dropped. Oil rigs fell steeply to 404, down 15 for the week, while natural gas-oriented rigs gained four to 126. The Permian oil-focused play was the biggest loser, dropping five rigs last week.
MARCELLUS/UTICA REGION: Natural gas, manufacturing leaders ask Biden to bolster Marcellus; Vulcan Industrial expands to larger facility in Pennsylvania; NATIONAL: Nuverra announces appointment of Patrick Bond as chief executive officer; Baker Hughes raises global LNG demand forecast to 2030; Halliburton back in black as North America stages ‘healthy recovery’; US natural gas storage volumes increase nearly in line with five-year average; UN-backed climate activists plot to circumvent US Congress in run up to earth day; INTERNATIONAL: WoodMac: Asia reshaped LNG market within a year.