Search Results for: lng rigs

| | |

Prometheus to Supply Antero Resources with LNG for Drilling Rigs

In April MDN told you that Antero Resources was the second Marcellus/Utica Shale driller that would convert its drilling rigs to run on 100% liquefied natural gas, or LNG (see Antero Res 2nd Marcellus Driller to Use 100% NatGas Rig Engines). Seems Antero now has a supplier that will deliver the LNG and the necessary equipment…

| | |

EQT Converts Marcellus Drilling Rigs to Run on LNG

Drilling rigs take a lot of horsepower to run, and the engines that run them are big and use a lot of fuel. That fuel is typically diesel, and the emissions may (or may not) cumulatively contribute to air pollution if there are enough drilling rigs in a particular region. At least that’s the contention…

| | | |

Unpausing New LNG Export Approvals Won’t Spike Domestic Prices

The incoming Trump administration will have a big emphasis on natural gas, including LNG (liquefied natural gas) exports. Lazy journalists and lazy economists try to scare the general public into believing more (new) LNG exports from this country will cause the price of domestic natural gas to skyrocket. Their arguments presume no increase in natgas…

| | | | | | |

Seneca to Run 1-2 Rigs Next Yr, Focus on Tioga & Lycoming Counties

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). Last week, NFG issued its latest quarterly update. During the quarter (considered the company’s fourth quarter), Seneca produced 91.9 Bcf (billion cubic feet) of natural…

| | | | | | | | |

PA Craters, Drops 2 Rigs, M-U @ 32; National Rig Count Adds 1 @ 586

Once again, the bottom dropped out of the Pennsylvania Marcellus rig count. PA lost two rigs last week, down to just 13 active rigs, the lowest the PA rig count has been since July 2016. That’s the lowest rig count for PA in more than eight years, lower than the deep dark days of the…

| | | |

Toby Rice – U.S. has Vital Role in Massive, Unmet LNG Demand

The RealClear Media Group has a suite of online publications that are just terrific. Among them is RealClearEnergy. Back in June, RealClearEnergy hosted the Energy Future Forum in Washington, D.C. Among the luminaries speaking (or being interviewed) was Toby Rice, CEO of the country’s largest natural gas producer, EQT Corporation. Toby addressed the role of…

| | | |

Can Low NatGas Production & Strong LNG Exports Keep Prices High?

The NYMEX futures price for natural gas has been trending higher lately. It closed down a nickel on Friday, but overall, the trend has been up, up, and away. Since price is so important, we cover the topic frequently. Lately, we’ve made the following points (in various posts): (1) Natural gas production is declining, thanks…

| | |

Henry Hub Rises Thanks in Part to Gas Flowing to Freeport LNG

Have you noticed? The NYMEX price of natural gas has been on an upward trend over the past week or so. We’ve actually broken the $2 barrier, and it continues to climb. Which begs the question, why? There are typically a number of factors combined to drive the price. This time around, we think we…

| | |

U.S. LPG, LNG Exports Hit Record High; Freeport Restarts Train 3

According to S&P Global and its crack statistics unit, U.S. liquefied natural gas (LNG) and liquefied petroleum gas (LPG, mostly propane) exports both hit new all-time record highs for the period of Jan. 1 through April 29 this year. And that’s despite the fact that the Freeport LNG export facility has experienced a major outage…

|

Range Resources – Steady as She Goes in 2024 with 2 Rigs

Range Resources Corporation, the very first company to drill a shale well targeting the Marcellus Shale layer in Pennsylvania (in 2004), issued its fourth quarter and full-year 2023 update yesterday. The company previously released operational details for 4Q23 (see Range Releases 4Q Production & Pricing Numbers, Proved Reserves). During 4Q, Range produced 2.2 Bcfe/d (billion…

| | | |

New Fortress Finds Way Around Jones Act – Ship US LNG via Mexico

You have to admire Wes Edens, CEO of New Fortress Energy. He’s figured out a way to get around the idiotic prohibition on shipping U.S. LNG from one U.S. port to another. The Jones Act, passed more than 100 years ago, aimed to boost American shipbuilding. The Act requires any cargo ship moving from one…

| |

DUG Appalachia: EQT CEO Toby Rice Ready to Unleash LNG 2.0 Plan

In March 2022, MDN brought you news of a bold new plan by EQT CEO Toby Rice to “unleash” American LNG exports to not only help our friends in Europe but also to reduce the amount of coal use across the world, thereby lowering coal-related emissions including carbon dioxide (see EQT CEO Toby Rice Unveils…

|

Chesapeake 3Q Production Down, Continued Focus on LNG Exports

Chesapeake Energy Corporation, the country’s third largest publicly-traded natural gas producer, issued its third quarter 2023 update yesterday. The company reports a profit of $70 million in net income during 3Q23, down from $883 million in 3Q22. The drop was due to lower gas prices and less production. Second quarter net production was 3,495 MMcfe…

| | | |

Chesapeake Cuts Back on Marcellus, Signs Haynesville LNG Deal

Two weeks ago, MDN brought you a summary of the latest quarterly update from Chesapeake Energy, which includes guidance (a forecast) for what the company plans to do in 2023 vis-à-vis drilling in the Marcellus and the Haynesville (see Chesapeake Energy Update: Cutting Rig Count & Production in 2023). We told you that Chesapeake plans…

| | | | | | |

Toby Rice Pushes LNG Benefits in Talk to Hometown Crowd

The apostle of LNG, EQT CEO Toby Rice, was once again holding court and sharing his view that LNG exported from the U.S. will bring peace, prosperity, and security to America and its allies. Rice spoke to a lunch crowd gathered at a VisionPittsburgh event at the Duquesne Club Tuesday afternoon. He also made a…

| | | |

Reuters Says U.S. Must Ramp Up Gas Production Due to LNG Exports

According to a column by a Reuters analyst, U.S. natural gas production will need to increase significantly to continue growing LNG exports while ensuring natgas remains affordable for domestic electric power producers, households, and industrial users. This is the first article (we’ve seen) that puts numbers to the claim that LNG exports are beginning to…