Best of the Rest

MARCELLUS/UTICA REGION: Victor Furman: I will never be silent about our rights; Hannaford bans reusable bags; OTHER REGIONS: Texas considers mandating oil companies reduce supply to combat crashing prices; Shale billionaire Harold Hamm sees Oklahoma limiting oil output; NATIONAL: Baker Hughes reduces capex by 20%, expects $15B impairment in 1Q; Oil in the age of coronavirus: a U.S. shale bust like no other; EagleClaw Midstream joins ONE Future coalition; API welcomes OPEC+ agreement; North America’s oil industry is shutting off the spigot; INTERNATIONAL: Saudi Prince: Not trying to put U.S. shale out of business.
Read More “Shale Energy Stories of Interest: Wed, Apr 15, 2020”

MARCELLUS/UTICA REGION: PA Senate will return to session to consider bills to reopen PA businesses; Webinar: Think About Energy Briefing on Thursday April 16, 2020; OTHER U.S. REGIONS: ExxonMobil testing emerging methane detection systems across Texas, New Mexico; History tells proration would cause chaos in the Texas oil patch; NATIONAL: Another record year for low-cost U.S. natural gas – and why that’s good news; BTU analytics predicts natural gas production could plummet this summer; INTERNATIONAL: Trump says global oil cut will be about 20 million barrels; OPEC production deal, or price war 2.0?; What will oil autocrats do now to keep power?; Time to put China on lockdown for its dishonesty amid coronavirus crisis.
Read More “Shale Energy Stories of Interest: Tue, Apr 14, 2020”

MARCELLUS/UTICA REGION: UGI Energy Services develops virtual food drives in partnership with area food banks; OTHER U.S. REGIONS: Texas Waha natgas forward prices to soar post coronavirus from negative now; Young shale CEO asks Texas to curb oil output as coronavirus cuts prices; Marathon will take frac holidays to cut spending; NATIONAL: Patterson-UTI Energy reports Mark Siegel, executive chairman, announces retirement plan; EIA’s weekly natural gas products provide timely natural gas information; Cliff’s edge a distant memory as rig count plummets ever lower, U.S. drops another 62 units; No resurrection for natural gas as storage, weather take down futures another notch ahead of Easter; Oligarchy and pestilence; Why are we destroying the economy for this?; Oil quotas and import fees? No, get America back to work; The biggest moves reverberating across oil, NGL and gas markets.
Read More “Shale Energy Stories of Interest: Mon, Apr 13, 2020”

MARCELLUS/UTICA REGION: Shale gas was in trouble, then came the coronavirus; No need for natural gas pipeline across Raritan Bay, environmental report says; NATIONAL: Natural gas market starting to discount oil production shut-ins; Coronavirus clouds outlook, but EIA still sees Henry Hub at $2.11 this year; What COVID-19, global LNG demand loss could mean for U.S. gas storage refill; Shale cutbacks to fall on weakest drillers as glut drowns market; Keeping up with the Jones Act! Changes a pandemic and price war could bring; INTERNATIONAL: Russia: U.S. shale decline can’t count as ‘output cut’; Maybe the U.S. should delay virtual G20 oil meeting; Big Oil market question: What’s already priced in?; Saudi wealth fund builds $200 million stake in Norway’s state oil company.
Read More “Shale Energy Stories of Interest: Thu, Apr 9, 2020”

MARCELLUS/UTICA REGION: Even facing a pandemic, NY State remains in the grip of green movement; Nearly 650 MW of New York City peaking capacity will retire to comply with tighter regulations; Congresswoman Miller urges support for oil and gas industry during COVID-19 response; OTHER U.S. REGIONS: Court revives Michigan anti-fracking effort; NATIONAL: U.S. natural gas output expected to fall by most ever next year; U.S. oil rig count seen plunging 65% in record time, eclipsing recent downturns; Shale drillers warming to a once-unthinkable idea: a cap on oil; U.S. to again become net importer of crude oil amid COVID-19 pandemic, EIA says; Cost structure threatens the survival of many U.S. crude oil producers; Led by Harold Hamm, America’s oil frackers are slashing output; INTERNATIONAL: Japan, Singapore lockdowns to stifle Asian gas, power demand further; U.S. energy secretary hopeful Saudi, Russia to end oil row this week.
Read More “Shale Energy Stories of Interest: Wed, Apr 8, 2020”

MARCELLUS/UTICA REGION: Albany’s natural gas drilling ban: crushing blow to Upstate New York; NATIONAL: Most North American E&Ps seen cutting 2020 capex by 35-40% as coronavirus wreaks havoc; Oil and natural gas industry responds to COVID-19 with charitable and community assistance; Natural gas will benefit as oil producers shut in production; Fear creates opportunity: Williams Companies and Archrock; INTERNATIONAL: Trump should prepare to be scapegoated for a failed Russia-Saudi oil meeting.
Read More “Shale Energy Stories of Interest: Tue, Apr 7, 2020”

MARCELLUS/UTICA REGION: Pennsylvania faces a new wave of abandoned oil and gas wells; Southwest Pa. runs on natural gas, coal; Cabot helping to stock food pantries in Marcellus Shale region; Your view: Wolf was wrong to veto HB 1100; OTHER U.S. REGIONS: Texas gets double punch from coronavirus and oil shock. ‘There’s no avoiding this one.’; California issues first new fracking permits since July; NATIONAL: Free webinar on the impact of COVID-19 on oil and gas industry; Chaos, scrambling in the U.S. oil patch as prices plummet; Greenfield natural gas, oil projects in pre-FID ‘all at risk’ for deferral; U.S. oil industry can still surprise with resilience: Mercuria CEO; Embattled energy companies snub creditors to conserve cash; Starwood Energy, OGCI Climate Investments and Elysian Ventures launch new carbon capture project; Victor Davis Hanson: U.S. still the leader in crisis; Democrats’ energy policies hurt black Americans.
Read More “Shale Energy Stories of Interest: Mon, Apr 6, 2020”

NATIONAL: Cheniere Energy’s Jack Fusco on the future of LNG; Surviving the coronavirus? Thank fossil fuels.; Oil and gas M&A deals crash along with prices; INTERNATIONAL: As oil sinks, some companies float idea of ‘zero clause’ in trades; Barclays aiming for net zero emissions by 2050, portfolio realignment starts with energy sector; Global natgas prices for 2020 expected even lower, set to feel COVID-19 symptoms for years; Chinese buyers snap up U.S. oil purchases at widest discounts ever.
Read More “Shale Energy Stories of Interest: Fri, Apr 3, 2020”

MARCELLUS/UTICA REGION: Cabot Oil & Gas a beneficiary of low oil prices; WVU Coliseum to receive new seats; NATIONAL: Save America’s oil and gas industry; ‘The other bomb’ — Cramer’s warning as first shale company files for Chapter 11; Murkowski wants DOE to shine spotlight on possible oil production shut-ins; Another down day for natural gas futures ahead of highly anticipated EIA report; Private equity can’t escape the pain of shale country’s collapse; Oilfield spending to fall 21% as producers slash outlays; Natural gas markets beyond COVID-19; COVID-19 strikes gas, LNG demand amid oversupply; Not all natural gas pipelines are equal; Pain in the oil patch; INTERNATIONAL: Germany proves how essential natural gas is – and the U.S. must supply.
Read More “Shale Energy Stories of Interest: Thu, Apr 2, 2020”

MARCELLUS/UTICA REGION: Think About Energy goes webinar on April 7: the learning continues; NY fight over gas supplies could renew next winter — official; NATIONAL: The coronavirus pandemic and the long-term energy outlook; What would happen if ‘fracking’ for oil and natural gas was banned?; Loosening of Obama-era fracking restrictions OK’d by federal judge; How low could U.S. oil production actually go?; A US-Saudi oil alliance? Here’s why that’s insane; INTERNATIONAL: After two bad winters, natural gas heads for an even worse summer; Crude price crash, pipeline constraints push Alberta’s WCS to all-time low; Ted Cruz, other senators, warn Saudis to stop using oil in ‘economic warfare’ against the US.
Read More “Shale Energy Stories of Interest: Wed, Apr 1, 2020”

MARCELLUS/UTICA REGION: Ohio AG says climate tort lawsuits put constituents at a disadvantage; Fracking once lifted Pennsylvania. Now it could be a drag.; Lackawanna College to provide compressor/engine mechanic certification; Gov. Tom Wolf’s former business keeps operating during coronavirus shutdown despite losing state waiver; Public invited to virtual public meeting regarding injection well application in Belmont County; NATIONAL: $4 natural gas by late 2021? It’s possible, says Raymond James; Could oil really fall to $0?; COVID-19 shutdowns compound weak gas demand fundamentals; Chemical manufacturers key in Covid-19 fight.
Read More “Shale Energy Stories of Interest: Tue, Mar 31, 2020”

MARCELLUS/UTICA REGION: Dominion Energy will hold virtual annual meeting in 2020; Businesses tied to Gov. Tom Wolf, top Pa. senator close after questions about ‘life-sustaining’ re pandemic; NATIONAL: Natural gas prices could double next year; Natural gas futures steady as oil patch in turmoil; COVID-19 exposes opponents of ‘fracking’ for oil and natural gas; This crushing double blow for the oil sector could force a wave of consolidation, say analysts; Oil market volatility is at an all-time high; Experts see a future for shale: ‘Rocks don’t go bankrupt’; IHS Markit predicts 50% drop in demand for gasoline in U.S., demand for EVs will falter too; Triple threat emerging as E&Ps confront coronavirus, oil price plunge and soon, bank redeterminations; The very real prospect of $5 oil; Oil for $1.75 a barrel?; New letter from Republican senators urges Trump to take action against Saudi Arabia; INTERNATIONAL: Now is a great time to get curious about CO2.
Read More “Shale Energy Stories of Interest: Mon, Mar 30, 2020”

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”