Marcellus Drilling News

Industrywide Issues | Research

EIA DPR: NatGas Production Rises in 6 of 7 Shale Regions, Incl. M-U
September 14, 2021September 14, 2021

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Six of the seven largest shale plays in the U.S. will see an increase in natural gas production in October according to the latest monthly Drilling Productivity Report (DPR) issued by the U.S. Energy Information Administration (EIA). The Marcellus/Utica, collectively lumped together as “Appalachia” in the report, will see an estimated increase of 74 MMcf/d (million cubic feet per day) in production next month. The M-U’s chief rival, the Haynesville, will see an increase of 82 MMcf/d. The oil-based Permian will see an increase in natgas production of 63 MMcf/d.
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Commodity Price | Industrywide Issues | Weather

NYMEX Futures Spike to New High $5.23, Nicholas Slams Gulf Region
September 14, 2021September 14, 2021

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Tropical Storm Nicholas, which hit the Texas Gulf Coast this morning with a storm track that takes it through Louisiana, has spooked the oil and gas markets once again, driving up the NYMEX Henry Hub futures price to close yesterday at $5.23–a new modern-era high. The price is even higher in early trading this morning. The storm has also influenced natgas prices across the country, including here in the M-U, to hit new physical spot price highs (excepting the brief insanity during Winter Storm Uri back in February).
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Industrywide Issues | Statewide WV | Taxation | West Virginia

WV’s Screwed-Up Oil & Natural Gas Property Tax Valuation Change
September 14, 2021September 14, 2021

In April, on the last day of the West Virginia legislative session for 2021, the West Virginia Senate unanimously passed House Bill (HB) 2581 which changes how the State Tax Department values producing oil and gas wells for property tax purposes (see WV Passes Bill to Change O&G Well Valuations for Taxes). The bill was supposed to streamline and provide a fairer system for assessing taxes on oil and gas production. It seems to have done the opposite, creating a complex system that is currently mired in controversy. Once again government intervention made things worse.
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Electrical Generation | Illinois | Industrywide Issues | Regulation

Illinois Repeats Ohio’s Nuclear Bailout Mess, Targets NatGas Power
September 14, 2021September 14, 2021

Ohio’s House Bill (HB) 6 law granted billions (plural) of dollars to FirstEnergy in an attempt to prop up the company’s economically failing nuclear power plants. FirstEnergy bribed state legislators to pass, and keep passed, HB 6 by paying out $61 million to a small group of insiders, including the now-former Speaker of the House (see FirstEnergy Involved in Bribery Scheme to Pass $1B Nuke Bailout Law). Not learning a thing from their fellow Midwestern state, the Illinois legislature has just passed a new law to bail out its nuke power plants with nearly $700 million of taxpayer money. The new law also shuts down coal and natural gas-fired power plants. Our question: How much in bribes did Illinois legislators accept to pass this hot mess of a law?
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Industrywide Issues | Pennsylvania | Public Opinion | Statewide PA

PA Statewide Poll by Antis Reveals Residents Still Like Fossil Fuels
September 14, 2021September 14, 2021

The Ohio River Valley Institute (ORVI) is a far-left, hyper-partisan, nonprofit organization that supports liberal Democrat causes. ORVI conducted a very slanted push poll in May asking Pennsylvania residents a plethora of questions about energy. The ultimate purpose was to smear fracking and drilling for natural gas. We spotted a media story hyping some of the results of the poll stating that a “Majority of Pa. residents want fracking to end.” Far-left organization, slanted poll. What’s new, right? Except when we began to dig into the questions and answers of this slanted poll, we discovered that headline is not truthful, leaving out the real news that a majority of PA residents still support fracking.
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Meetings

Shale Insight Returns In-Person on Sept. 28-30 in Erie, PA
September 14, 2021September 14, 2021

We are fast approaching the must-attend event of the year for the Marcellus/Utica: Shale Insight 2021. Last year Shale Insight was virtual only, given the pandemic. This year the event returns to in-person, but it’s at a new location in Erie, Pennsylvania. Pittsburgh Mayor Bill Peduto’s Marcellus bashing has finally had the effect of driving a major conference that brings millions of dollars to the local economy out of Pittsburgh to a different venue. Congrats Peduto.
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Best of the Rest

Other Stories of Interest: Tue, Sep 14, 2021
September 14, 2021September 14, 2021

MARCELLUS/UTICA REGION: Columbiana County still on oil and gas drillers’ radar; Developer joins climate advocates in pushing gas-hookup ban; OTHER U.S. REGIONS: California’s request to burn natural gas OK’d by DOE as supply risks imminent; NATIONAL: As oil-well backlog shrinks, U.S. shale may upset investors and drill more; The natural gas market is a great precursor for the oil market; INTERNATIONAL: Researchers toilet-trained cows in hopes of reducing their greenhouse gas emissions.
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