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7 New Shale Well Permits Issued for PA-OH-WV Jan 20 – 26

For the week of Jan 20 – 26, permits issued in the Marcellus/Utica to drill new shale wells fell off a proverbial cliff. Two weeks ago, 41 new permits were issued. Last week, the number plummeted to just seven new permits issued. Perhaps the most interesting thing about last week’s numbers is that NO new permits were issued in the Keystone State (PA). We believe that’s the first time we’ve seen no new permits in PA. We wonder if there’s a problem with the reporting system (the state DEP’s reporting system is known to occasionally have issues). We’ll check again next week to see if PA’s numbers get updated. Meanwhile, there were four new permits for the Buckeye State (OH) and three for the Mountain State (WV). Read More “7 New Shale Well Permits Issued for PA-OH-WV Jan 20 – 26”

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CNX Drilled Just 1 New Well in 4Q24, Plans to Add 34 Wells in 2025

Yesterday, CNX Resources issued its fourth quarter and full-year 2024 update. The company lost $145 million for the quarter, compared with a profit of $514 million in 4Q23. Production was 141.9 Bcfe (billion cubic feet equivalent) in 4Q24 — which works out to 1.54 Bcfe/d — down from 146.9 Bcfe last year (a drop of 3.4%). Drilling all but stopped during 3Q, and that trend continued in 4Q. The company drilled just one new Utica well in central PA. However, CNX fracked nine wells and brought six wells online to sales in southwestern PA. Read More “CNX Drilled Just 1 New Well in 4Q24, Plans to Add 34 Wells in 2025”

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Seneca Continues to Focus on PA Utica Wells, Adds 50 MMcf/d to Gulf

National Fuel Gas Company (NFG), headquartered in Buffalo, NY, is the parent company for Marcellus/Utica driller Seneca Resources and the parent of midstream company NFG Midstream (and subsidiary Empire Pipeline). Yesterday, NFG issued its latest quarterly update. The company’s top brass is jazzed about the higher prices of natural gas and what it means for profitability. Production at Seneca increased by 6% over the previous quarter to 98 Bcfe as the company brought online some of its most productive pads to date. However, production was down a tad (3%) from the same period in the prior year. Read More “Seneca Continues to Focus on PA Utica Wells, Adds 50 MMcf/d to Gulf”

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PA Gov. Shapiro Again Pushes Big Carbon Tax as Part of Energy Plan

Pennsylvania’s do-nothing Governor, Josh Shapiro, traveled to Pittsburgh yesterday to put on another shuck-and-jive all-sizzle-no-steak show. He was there to unveil what he calls his “Lightning Plan” for energy in the state. His big plan? Reintroduce and try to bully Republicans into accepting a Marcellus-killing carbon tax and onerous regulations on emissions (called PACER, see PA Gov. Shapiro Proposes Own Version of Marcellus-Killing Carbon Tax). His plan didn’t fly in March of last year and won’t fly again this year. But that didn’t stop the shuckin’ and jivin’ by Shapiro. Read More “PA Gov. Shapiro Again Pushes Big Carbon Tax as Part of Energy Plan”

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NY Gov. Hochul Pauses Cap-n-Tax Plan; Angry Enviros Resign Panel

In June 2019, the New York State legislature passed a horrific “energy” bill that was later signed into law by then-Gov. Andrew Cuomo (see New York Pulls the Trigger, Commits Energy Suicide with New Law). The law, called the Climate Leadership and Community Protection Act (or “Climate Act”), forces a reduction in so-called greenhouse gas emissions of 40% by 2030, and at least 85% from 1990 levels by 2050. It will force the end of burning natural gas and fuel oil (and wood) to heat homes and businesses. Current Gov. Kathy Hochul is now facing the buzzsaw of reality in implementing specific actions to meet those goals. She recently “shelved” a plan to implement a “cap and invest” plan that would force the state to reduce GHGs to comply with the Climate Act. Read More “NY Gov. Hochul Pauses Cap-n-Tax Plan; Angry Enviros Resign Panel”

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Credit Rating Agencies Downgrade Connecticut Utilities Due to Regs

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As we told you two weeks ago, Connecticut’s Democrat Governor, Ned Lamont, wants to keep his nuclear and gas-fired power plants operating (for now) to avoid potential blackouts (see Gov. Ned Lamont Fiddles While Connecticut’s Electric Rates Burn). However, Lamont isn’t interested in building more pipelines or new gas-fired plants. He’s happy to allow the residents of Connecticut to continue paying some of the highest electric rates in the country because, you know, global warming. Unfortunately for Connecticut ratepayers, their rates will continue to climb because of the state’s overregulation. Read More “Credit Rating Agencies Downgrade Connecticut Utilities Due to Regs”

Other Stories of Interest: Fri, Jan 31, 2025

OTHER U.S. REGIONS: Largest solar farm in California heading for closure after 11 years; NATIONAL: Baker Hughes announces major gas tech orders for Venture Global LNG; Senate confirms Doug Burgum to lead Interior, advances Chris Wright for Energy; Trump’s tariffs would hurt Canadian oil producers more than U.S. refiners; Trump’s decision to end Biden’s home appliance micromanagement good news; INTERNATIONAL: UK sets goal to cut CO2 emissions by 81 percent by 2035; Japan weighs Alaska LNG pipeline pledge to win Trump’s favour. Read More “Other Stories of Interest: Fri, Jan 31, 2025”