Beaver County | Energy Companies | Ethane | Industrywide Issues | Pennsylvania | Processing Plants | Shell
Shell CEO Says PA Cracker Now Done, Gradually Coming Online
In June, a Shell executive told the Appalachian Energy Innovation Collaborative conference that the company’s Pennsylvania ethane cracker project was 98% done and would be fully online within “a couple of months” (see Shell Exec Says Ethane Cracker 98% Done, Online “Couple of Months”). He was right. During a recent conference call with analysts about second quarter performance, Shell CEO Ben van Beurden said, “we’re done building it” (referring to the ethane cracker), and that “we will indeed start bringing production on gradually” over the summer. Hot dang! We’re deep into summer right now.
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Ascent Resources, originally founded as American Energy Partners by gas legend Aubrey McClendon, is a privately-held company that focuses 100% on the Ohio Utica Shale. Ascent is Ohio’s largest natural gas producer (337,000 leased acres) and the 8th largest natural gas producer in the U.S. The company issued its second quarter update yesterday. Ascent averaged production of 2.0 Bcfe/d for the quarter, the same as 1Q22 and virtually the same as 2Q21. By the end of June, Ascent was producing 2.2 Bcfe/d. Nearly all of Ascent’s production (93%) was natural gas, while the rest was oil and NGLs.
Last week two Ohio state House members, Reps. Jon Cross, R-Kenton, and Jay Edwards, R-Nelsonville, introduced House Bill (HB) 685 to promote the use of the state’s natural gas energy resource. The bill would create “ENERGIZEOhio Zones” to attract new investment in areas that are disadvantaged due to lack of energy resources. The designation allows natural gas infrastructure projects (like pipelines) to receive tax abatements and speed up depreciation to lower the overall cost of development.
Earlier this week MDN told you that some Marcellus/Utica operators were singing the praises of the Manchin-Schumer Keep Inflation High bill (see 
Yesterday MDN poked fun at the gyrating up-and-down predictions from the U.S. Energy Information Administration (EIA) with respect to the spot price of natural gas at the benchmark Henry Hub (see 
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