Best of the Rest

MARCELLUS/UTICA REGION: NY State Fairgrounds are the subject of major grandstanding by Cuomo; OTHER U.S. REGIONS: Oil, gas prospects in Texas, Louisiana and New Mexico ‘extremely pessimistic,’ says Dallas Fed; US oil, gas sector sees historic declines, but executives expect a price rebound: Dallas Fed; Murphy Oil CEO steps aside as coronavirus hits close to home; Gov. Baker prohibits reusable shopping bags during coronavirus emergency; NATIONAL: Coronavirus potentially ‘brutal’ for natural gas; storage report doesn’t lift bulls’ spirits; FERC issues guidance and regulatory relief in connection with coronavirus response; Coronavirus economic fallout may boost NGVs as alternative transportation; 2 reasons why midstream companies are not safe; API issues standards to improve safety of natural gas gathering pipelines; Have we seen the 2020 lows for natural gas?; INTERNATIONAL: Higher oil supplies will never make it to the market, global production shut-in is coming; Tanker firm predicts 100M barrels of oil stored on ships; China to resume U.S. LPG imports as Beijing waives trade-war tariff.
Read More “Shale Energy Stories of Interest: Fri, Mar 27, 2020”

MARCELLUS/UTICA REGION: Chevron – which is leaving the region – donates $260K to food banks, first responders; Shell’s workforce, construction drastically cut at Beaver County site; Dominion Energy will hold virtual annual meeting in 2020; NATIONAL: Democratic National Committee embraces green new deal; When and how will oil prices recover?; Economic crisis is no reason to push bad policy on the oil sector; INTERNATIONAL: Oil below $20 will wipe over 10% off many exporting countries’ GDP.
Read More “Shale Energy Stories of Interest: Thu, Mar 26, 2020”

MARCELLUS/UTICA REGION: Pennsylvania’s oil & gas industry is classified as a “life-sustaining business”; Pennsylvania’s gas region is still open for business, thank you!; OTHER U.S. REGIONS: Coronavirus ravages U.S. energy capital; Texas business leaders chafe at coronavirus lockdowns: ‘We’ve got to figure out how to live with this thing’; NATIONAL: Brace for bigger shale crash than five years ago, oilfield giants warn; Amid oil price crash, natural gas is also under attack; In concession to Icahn, Oxy taps former chief Chazen as chair; COVID-19 demonstrates the importance of plastics; Six pipeline companies cut $1.9 billion from their 2020 budgets; INTERNATIONAL: European natural gas storage inventories are at record-high levels at the end of winter.
Read More “Shale Energy Stories of Interest: Wed, Mar 25, 2020”

MARCELLUS/UTICA REGION: New York State PSC embarks on plan to examine natural gas usage, investments; EQT weighing options with in-person annual meeting; NATIONAL: Chesapeake Energy could finally be headed into Ch.11 bankruptcy; Natural gas craters to 1995 levels on weather woes, coronavirus; Natural gas finally starting to buckle against the broader market liquidation; Energy companies slash another $19B as oil price languishes; Midstream prices crash: maybe we have seen this before; Oil jumps as markets panic; SPDR S&P oil & gas E&P ETF…The knife is still falling; COVID-19 and the crude oil price crash puts the screws on U.S. refiners; How will the coronavirus affect energy use in America?; SHALEout! (video).
Read More “Shale Energy Stories of Interest: Tue, Mar 24, 2020”

MARCELLUS/UTICA REGION: PA DEP expands use of online tools, conference calls to hold public meetings, hearings; Beaver County plants to suspend operations, lay off more than 500; NATIONAL: We must not let the shale industry go bankrupt; U.S. rig count plummets as producers react to oil’s collapse; Google serving as NRDC outlet to promote fracking falsehoods; U.S. natural gas, oil operators said prepared to deal with coronavirus pandemic; Staring at $20 oil, exploration and oilfield services firms prepare to ‘write off’ 2020; Lower for longer: COVID-19’s impact on crude oil and refined products; Biden’s shifting energy position has oil and gas sector on edge; INTERNATIONAL: Saudis may hold out up to two years in price war, Fitch analyst says; Saudi Arabia’s oil price war is backfiring; Coronavirus shows our reliance on the ‘precautionary principle’ has ruined our ability to manage risk.
Read More “Shale Energy Stories of Interest: Mon, Mar 23, 2020”

NATIONAL: U.S. oil industry could end up losing more than 200,000 jobs; U.S. natural gas tumbles to 24-year low; U.S. LNG exports rise on week; U.S. shale goes viral; U.S. shale producers cut executive pay as oil prices crash; As total U.S. crude oil imports have fallen, imports from Canada have increased; Educator turned potential profiteer in climate litigation law firm; E&Ps slashing already-weak capital spending amid oil price rout; Coronavirus won’t stop flow of FERC orders, chairman says; INTERNATIONAL: Oil rallies, with U.S. prices scoring their biggest daily percentage climb on record; Fitch sees global oil demand plunging by 7-10 million b/d in 2Q.
Read More “Shale Energy Stories of Interest: Fri, Mar 20, 2020”

MARCELLUS/UTICA REGION: Rep. Conor Lamb supports Biden’s ‘no new fracking’ push; NATIONAL: Seven of the most prolific Texas shale drillers cut $7.6 billion from budgets as oil prices collapse; ConocoPhillips and other oil producers slash their budgets deeper; Oil’s crash is both a help and a hazard for LNG export projects; In the oil business, everything flows downstream, including the pain; Crude market vaporizes; contango and storage plays take center stage; INTERNATIONAL: Canadian heavy oil plunges to lowest price on record.
Read More “Shale Energy Stories of Interest: Thu, Mar 19, 2020”

MARCELLUS/UTICA REGION: EQT Corp. surges as the bearish natural gas thesis is dead; CNX Midstream Partners ‘re-evaluating’ capital allocation plans; OTHER U.S. REGIONS: FERC suspends Commonwealth LNG environmental review; Minnesota Supreme Court will review Superior natural gas power plant ruling; NATIONAL: Oil reverses deeply into the red; WTI closes at another four-year low; Estimating the possible decline of U.S. shale oil production with lower prices; Giant LNG projects face coronavirus death or delay; Natural gas price forecast – natural gas markets rollover; COVID-19, price wars and black swans: School of Energy goes virtual.
Read More “Shale Energy Stories of Interest: Wed, Mar 18, 2020”

MARCELLUS/UTICA REGION: Dominion Energy commits $1 million to coronavirus relief efforts; All PA DEP offices statewide are closed until March 31; NATIONAL: Pioneer CEO says U.S. oil output could drop 20% on shale retreat; Big shale borrowers on fast track to junk in latest oil rout; We’re paying the price for the death of journalism; INTERNATIONAL: OPEC shift to maintain market share will cause global inventory increases and lower prices.
Read More “Shale Energy Stories of Interest: Tue, Mar 17, 2020”

MARCELLUS/UTICA REGION: Biggest weekly gainer in S&P 500 is Cabot Oil & Gas!; Susquehanna County has more than half of top producing PA gas wells!; OTHER U.S. REGIONS: Developing bottlenecks in the Louisiana gas market; NATIONAL: Oil price recovery not likely until 2022; recent pullbacks ‘just the beginning’; E&Ps, OFS operators cutting capex and salaries as Covid-19 reshapes markets; Four more producers line up to slash capex, activity in wake of low oil prices; Can shale survive another bust?; It’s not Armageddon for America’s oil and gas industry; INTERNATIONAL: Another specter rises over LNG as European demand seen threatened by coronavirus; Saudi Arabia-Russia oil price feud hits U.S. economy hard.
Read More “Shale Energy Stories of Interest: Mon, Mar 16, 2020”

MARCELLUS/UTICA REGION: Clean Hands Andy, in stunning reversal, endorses natural gas?; DCNR, DEP are canceling or converting meetings to calls or online due to coronavirus concerns; OTHER U.S. REGIONS: Judge approves $143M natural gas explosions settlement; NATIONAL: U.S. crude oil exports increased to nearly 3 million barrels per day in 2019; More U.S. oil producers slash budgets amid price rout; US oil, gas rig count drops by three on week to 835; further decline expected; Betting on a bailout, investors rush into U.S. energy funds; UW professors receive provisional patent for method to reduce gas flaring; U.S. shale oil producers aren’t as hedged as you think, implying more downside for associated gas production; Angry US landowners are killing off renewable energy projects; INTERNATIONAL: How long will the oil price war actually last?; A global natural gas market is starting to emerge.
Read More “Shale Energy Stories of Interest: Fri, Mar 13, 2020”

MARCELLUS/UTICA REGION: Gov. Cuomo’s big promise to free the state fairgrounds of fossil fuels: What’s the status?; NATIONAL: EIA’s 50% Carbon-Free Generation side case projects little effect on CO2 emissions; U.S. LNG exports grow in a weakening, highly uncertain market; INTERNATIONAL: Prolonged oil price slide factoring more into global natural gas market, analysts say; Saudi oil price war unlikely to have quick end, says GlobalData; Portugal books US, Nigerian LNG cargoes; UAE joins battle with Saudi Arabia and Russia to grab bigger share of oil market.
Read More “Shale Energy Stories of Interest: Thu, Mar 12, 2020”

MARCELLUS/UTICA REGION: Soaring stocks don’t fix — at least yet — what ails Marcellus; ODNR issues 4 Utica drilling permits; NATIONAL: Lower 48 E&Ps punch back by cutting capex as oil prices decimated; Don’t panic over stock market drop; The oil price collapse blame game begins.
Read More “Shale Energy Stories of Interest: Wed, Mar 11, 2020”

OTHER U.S. REGIONS: Tellurian makes managements appointments; Columbia gas pleads guilty over Mass. pipeline blasts; NATIONAL: Climate change lawsuits collapsing like dominoes; Energy valuations: Freefall into bankruptcy or is this time different?; There are no winners in oil market’s price war; Brace yourself for another 33% drop in the price of crude oil; White House can lend U.S. shale a helping M&A hand; INTERNATIONAL: The coronavirus is an economic pandemic, panicking markets and slowing growth.
Read More “Shale Energy Stories of Interest: Tue, Mar 10, 2020”

MARCELLUS/UTICA REGION: Pro-energy, pro-manufacturing approach is best for Pennsylvania; Anne Blankenship: Gas industry can drive WV’s future; Oil and gas officials, West Virginia Chamber of Commerce optimistic of pipeline continuation; Pro-fracking group backs Phillips; OTHER U.S. REGIONS: Virginia moves to phase out CO2 from power plants by 2045; NATIONAL: EIA’s long-term power plant projections trade off the cost and value of new capacity; Natural gas prices may decline further, likely to hit a 20-yr low level; INTERNATIONAL: Germany proves how essential natural gas is – and the U.S. must supply; The great Saudi shale swindle.
Read More “Shale Energy Stories of Interest: Mon, Mar 9, 2020”

MARCELLUS/UTICA REGION: ODNR awards three drilling permits; NATIONAL: North American midstream energy companies face $123 billion of debt maturities in 2020-24; Exxon CEO dismisses rivals’ climate targets as ‘beauty competition’; INTERNATIONAL: Coronavirus leads OPEC to recommend sharper oil output reduction through June; OPEC+ proposes major cuts, but Russia may not come along; Germany sees no role for natural gas in draft plan for hydrogen.
Read More “Shale Energy Stories of Interest: Fri, Mar 6, 2020”