Marcellus Drilling News

Commodity Price | Industrywide Issues

Holy Methane Batman! NYMEX NatGas Price Makes a Run for $6
September 28, 2021September 28, 2021

Yesterday the “front month” October contract for the Henry Hub NYMEX price of natural gas soared 11% and settled at $5.706/MMBtu, the highest closing price since Feb. 21, 2014. Intraday trading went well over $6 per MMBtu. We keep seeing the word “contagion” as the main explanation for the soaring price. No, not the COVID contagion, but the psychological contagion of high prices globally. The price of natgas in Europe and Asia is skyrocketing (in the $25-$30/MMBtu range), which causes traders here to anticipate demand for our gas (via exports) will remain strong, driving up domestic prices. Ultimately fear drives the financial markets more than any other factor.
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Allegheny County | Industrywide Issues | Pennsylvania | Wastewater

2nd Shale Wastewater Injection Well Planned for Plum Boro in SWPA
September 28, 2021September 28, 2021

A long-fought-over wastewater injection well in Plum Boro (Allegheny County, Pittsburgh suburb) finally opened for business earlier this year, having overcome all sorts of smears and slanders and lawsuits by the enviro-left (see Plum Boro Injection Well in SWPA Now Open for Business!). Here’s some news that will surely send the antis into a new tirade: Penneco Environmental Solutions, the builder of the Plum injection well, is planning to build a second wastewater injection well in Plum. Let’s do it again!
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Anti-Drilling/Fossil Fuel | Energy Services | Industrywide Issues | PennEast Pipeline | Pennsylvania | Pipelines | Statewide PA

Pennsylvania is the Biggest Loser in PennEast Pipe Cancellation
September 28, 2021September 28, 2021

States often get excited when the federal government deigns to hand out taxpayer money in dribs and drabs, a billion here and a billion there. Yet the best source of money to pump into an economy is private funds, invested by private companies. Private investment grows an economy for everyone, providing jobs and stimulus throughout the economy. With the sad announcement yesterday that PennEast Pipeline is abandoning its project, Pennsylvania, in particular, will miss out on most of the $1.2 billion estimated price tag to build it. All those jobs, all that investment….poof! Gone. Thanks to anti-fossil fuel nutters.
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Ohio | Statewide OH

Ohio O&G Groups Push Back Against Leftist Anti-Energy Policies
September 28, 2021September 28, 2021

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The Ohio Oil and Gas Association (OOGA) and the Ohio Oil and Gas Energy Education Program (OOGEEP) recently completed a series of educational roundtables with members of Ohio’s Congressional delegation. The roundtables included a tour of local natural gas and oil-related facilities. The effort is aimed at educating Ohio’s representatives so when the leftists in the Biden administration begin bashing fossil fuels (yet again), the Ohio delegation will know the truth–that fossil fuels are good, moral, righteous, and provide jobs and economic benefits for the Buckeye State.
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Commodity Price | Exporting | Industrywide Issues | NGLs

Propane Prices Through the Roof – Global Demand Up, Supply Down
September 28, 2021September 28, 2021

According to the U.S. Energy Information Administration, high global demand and low global supply are contributing to the rapid increase in U.S. propane spot prices. At one point last year, propane spot prices averaged just above $0.20 per gallon. Right now it’s averaging $1.33 per gallon!
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CNG/LNG | Commodity Price | Exporting | Industrywide Issues

How Will 2 New U.S. LNG Export Facilities Affect NatGas NYMEX Price?
September 28, 2021September 28, 2021

Yesterday we brought you the good news that two new LNG export facilities will, in all likelihood, begin full-scale operations by the end of this year (see More U.S. LNG Export Capacity on the Way by End of 2021). Both plants are located along the Louisiana Gulf Coast. The good news is that Marcellus/Utica molecules will flow to both plants. How will the addition of these two new facilities affect the price of natural gas here at home? The experts at RBN Energy delve into that topic with their latest post…
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Anti-Drilling/Fossil Fuel | Crude Oil | Hydraulic Fracturing | Industrywide Issues | Pennsylvania | Warren County

Cameron Energy Says Eco “Religious Fervor” Destroying U.S. O&G
September 28, 2021September 28, 2021

Yesterday we told you that a program would air last night on the Fox Business channel featuring Cameron Energy, a conventional oil driller in western Pennsylvania (see PA Driller Cameron Energy Featured on Fox “How America Works” Tonight). It was a fabulous program! We have an extended clip below. In the runup to airing the program, Fox interviewed Arthur and John Stewart, the owners of Cameron Energy, on the program “Cavuto: Coast to Coast.” The two had some interesting things to say about the Biden administration and the eco-zealot left’s attacks on fossil energy.
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Best of the Rest

Other Stories of Interest: Tue, Sep 28, 2021
September 28, 2021September 28, 2021

MARCELLUS/UTICA REGION: EQT appoints Frank C. Hu to board of directors; OTHER U.S. REGIONS: Pioneer Natural Resources adds ESG expert to board; NATIONAL: ESG is here to stay–here’s how to move forward.
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