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WV Supreme Court Rules Antero CAN’T Deduct Royalty Expenses

There is an important development for landowners AND drillers in a class action case that began some seven years ago. A civil suit was brought by Harrison County oil and gas owners against Antero Resources Corp., claiming the company had deducted post-production costs from royalties not allowed under the leases they had signed. In 2022, the U.S. District Court for the Northern District of West Virginia ruled mostly in favor of the landowners. The District Court sent two certified questions to the state Supreme Court. The Supremes ruled on both issues in November. The court ruled that energy companies cannot deduct post-production costs without explicit lease language, favoring royalty owners over drillers. Read More “WV Supreme Court Rules Antero CAN’T Deduct Royalty Expenses”

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Mountain Valley Pipeline’s Final Cost Pegged at Nearly $10 Billion

When EQT first announced it intended to build the Mountain Valley Pipeline (MVP), stretching from Wetzel County, WV, to Pittsylvania County, VA, the project came with an estimated price tag of $3.5 billion and an estimated completion date of 2018 (see Mountain Valley Pipeline Files FERC Appl, Now Just Matter of Time). By the time it finally began operating earlier this year (10 years later!), the estimated cost had risen to $7.85 billion (see Confirmed: M-U Gas Now Flowing Through Mountain Valley Pipeline). Except, that number was not the true final cost either. According to a recent filing with the Federal Energy Regulatory Commission (FERC), the final cost to build MVP was $9.67 billion. Read More “Mountain Valley Pipeline’s Final Cost Pegged at Nearly $10 Billion”

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Austin Master Services Cleanup in Martins Ferry One-Third Complete

In July, the Ohio Dept. of Natural Resources (ODNR) opened up the shuttered Austin Master Services (AMS) radiological waste management solutions company in Martins Ferry (Belmont County), Ohio, to begin cleanup work at the facility (see Flurry of Activity at Austin Master Services Site in Martins Ferry). AMS is permitted by the ODNR to temporarily store up to 600 tons of fracking waste, like shale drill cuttings and wastewater. ODNR estimates there were some 10,000 tons of fracking waste at the site. AMS ran out of money, and vendors quit accepting the waste. After failing to meet a court-ordered deadline, ODNR stepped in to handle the cleanup. A local TV station is reporting one-third of the cleanup job is now completed. The facility is supposed to be completely cleaned up by May 2025. Read More “Austin Master Services Cleanup in Martins Ferry One-Third Complete”

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U.S. Begins Winter with Most Natural Gas in Storage Since 2016

According to the U.S. Energy Information Administration (EIA), working natural gas in storage in the Lower 48 states ended the natural gas injection season (Apr 1 – Oct 31) with 3,922 billion cubic feet (Bcf), the equivalent of 3.9 trillion cubic feet (Tcf). U.S. inventories are starting winter 2024–25 with the most natural gas since 2016, which is typically bearish for natgas prices. The more supply you have with the same demand, the more prices will decrease. However, weather is the big unknown variable. A cold winter could quickly drain supplies and lead to higher prices. Read More “U.S. Begins Winter with Most Natural Gas in Storage Since 2016”

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Prediction: NatGas Prices to Keep Rising into 2025 Due to Cold Wx

According to a Reuters analyst, natural gas prices in Asia, Europe, and North America have climbed by 30% to 50% in 2024 and are likely to keep rising over the coming months in early 2025 as forecasts for cold weather trigger higher heating demand in key consumer hubs. Although Europe entered the winter with “full” gas stocks, Europe and Asia are already looking to restock by buying more natgas (LNG), spurring demand for LNG. That should ensure gas traders will remain bullish (pushing prices higher) until the upcoming winter is over. Gas prices “may have little scope to retreat until well into 2025.” We like the sound of that! Read More “Prediction: NatGas Prices to Keep Rising into 2025 Due to Cold Wx”

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WoodMac Changes Course – Says U.S. LNG Essential for Asia

In June, we told you that a once-respected oil and gas consultancy had become a partisan purveyor of pap (see WoodMac Pimps Itself Out for Democrats in New “Report” re Election). We were referring to Wood Mackenzie, the “global insight business for renewables, energy and natural resources.” In a June report, WoodMac analysts made this partisan statement: “A Republican victory in 2024 could roll back decarbonisation policies and usher in a delayed energy transition for the US.” The not-so-subtle implication was that if you care about the planet and the mythical “energy transition” that must take place (or else)…you’ll vote Democrat in November. My oh my, what a difference a landslide election makes… Read More “WoodMac Changes Course – Says U.S. LNG Essential for Asia”

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The Coming Golden Age of LNG Under Donald J. Trump

Rystad Energy, based in Norway, is an independent energy research and business intelligence company providing data, analytics, and consultancy services to clients exposed to the energy industry across the globe. In an article published by OilPrice.com, Rystad analysts make this bold claim: “Triggered by incoming US President Donald Trump, the next four years could prime the liquefied natural gas (LNG) markets for a golden era.” Look for the Trump administration to “accelerate US LNG infrastructure expansion through deregulation and faster permitting, bolstering global supply.” After years of uncertainty about U.S. LNG thanks to a dithering President Biden, someone with demonstrable cognitive decline, LNG is “back” under Trump, and global markets are delighted. Read More “The Coming Golden Age of LNG Under Donald J. Trump”