EIA Predicts 2023 & 2024 Record High NatGas Production – Aug STEO
Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. The latest monthly report, issued Tuesday, predicts that U.S. natural gas production AND demand will rise to record highs in 2023. EIA projected that dry gas production will rise to 103 billion cubic feet per day (Bcf/d) in 2023 and 104.12 Bcf/d in 2024. The current record high is 98.13 Bcf/d set in 2022.
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Earlier this year, Roulette Oil & Gas LLC received approval from the federal EPA to build a shale wastewater injection well in Clara Township in Potter County, PA (see 
Greylock Energy is headquartered in Charleston, WV, with offices in West Virginia, Pennsylvania, Utah, and Wyoming and operations scattered throughout Appalachia and the Rockies. The company’s assets comprise more than 1.19 million acres, about 6,700 wells, including the operation of 4,000 wells throughout Appalachia (shale and conventional) and 2,600 miles of pipeline. Grelock has contracted with a company called Tachyus (headquartered in Houston, TX) to use its cloud-based greenhouse gas tracking and reporting service called Aurion. The purpose is, of course, to lower Greylock’s carbon and fugitive methane footprint–and to prove that it has lowered it.
One year ago, we reported the sad (and angering) news that U.S. Senator Joe Manchin, a liberal Democrat from West Virginia, had betrayed his WV constituents and the entire country by secretly cutting a deal to vote for Joe Biden’s New Green Deal bill repackaged under the false and misleading name of the Inflation Reduction Act (see 
The left always twists language in its attempt to push its ideology and agenda–even in Christianity. The Pennsylvania-based Evangelical Environmental Network (EEN), during its 15-year history, has supported every far-left environmental regulation proposed by the Democrat Party, and has criticized every conservative, Republican energy plan that allows for fossil energy to flourish in the Keystone State. That’s been our observation. They call themselves “Evangelical,” which is supposed to mean sticking to the teachings of the Gospel of Christ. Somehow they twist the word Evangelical into worshiping the mythology of man-made catastrophic global warming. They claim it is “creation care” to aggressively address global warming using anti-capitalist Marxist political ideology, like supporting the EPA’s plan to phase out all natural gas-fired power plants with new onerous regulations.
S&P Global Ratings is a credit rating agency and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is considered the largest of the Big Three credit-rating agencies, including Moody’s Investors Service and Fitch Ratings. In what can only be characterized as an earthquake in the so-called ESG movement, S&P Ratings announced it is ditching its system of numerically ranking corporate borrowers on their ESG risk on a scale of 1 to 5–just two years after implementing it. Why?
On July 11, the federal EPA held an online hearing to accept comments on a draft permit it intended to issue allowing G2 STEM to drill a proposed new wastewater injection well in Fayette County, PA (see 
The League of [Liberal Democrat] Women Voters of Pennsylvania is “teaming up” with the leftist fanatics at Food & Water Watch to launch a zombie (i.e., form) letter-writing campaign, hoping to convince the U.S. Department of Energy (DOE) NOT to award a $1 billion hydrogen hub contract for any application that includes the Keystone State (there are three such applications). Cause, you know, it would involve building more fossil fuel infrastructure in the state, and *everybody* knows that fossil fuels are Satanic. The Lib Dem groups are hoping if they can’t dazzle the DOE with brilliance, they can baffle them with mountains of Barbara Streisand form letters.
The so-called Center for Climate Integrity (CCI) is behind most of the lawsuits filed by municipalities around the country (cities, counties, states) against Big Oil & Gas companies, claiming fossil energy companies know and have known for years that using their products is toasting Mom Earth into oblivion. It is the most outrageous abuse of the justice system we know of. The lawsuits are instigated (and funded) by CCI and a litany of colluding nonprofits. Get ready in the Keystone State. CCI has partnered up with the Philadelphia-based Clean Air Council (CAC) and, by all appearances, is trying to convince government officials in PA to sue PA energy companies.
Equitrans Midstream, the builder of the 303-mile Mountain Valley Pipeline (MVP) project, proposed to extend the pipeline by an extra 75 miles from the current terminus in Pittsylvania County, VA, to Alamance County, NC, to provide natural gas for heating and electric generation. The extension is called MVP Southgate. North Carolina Gov. Roy Cooper, a liberal Democrat, is against it (see 
We read an article that breathlessly proclaimed North Carolina is on pace to generate more of its power from solar than from coal this year. It is, said the author, “another sign of the state’s energy transformation toward a greener future.” Release the party poppers! ? But as we read the article, we discovered solar only provides “roughly 8%” of NC’s electricity. Coal currently provides between 7% and 8%. The current champion is (and will be for decades) natural gas, which provides 40% of NC’s electricity. So much for NC’s “transition toward a greener [solar] future.”
There is trouble brewing along the Gulf Coast between Venture Global LNG and its biggest customers: BP, Shell, Edison International (an Italian utility company), Repsol, and GALP Energia (a Portuguese energy company). Venture Global is building the Calcasieu Pass LNG export facility in southwestern Louisiana’s Cameron Parish, less than 50 miles south of Lake Charles. While Venture Global is still working on completing Calcasieu Pass, it has, so far, shipped some 177 cargoes of LNG, much of that during the mega-high prices of last year when the Russia/Ukraine war was at its peak. Yet none of those cargoes went to the facility’s contracted customers, causing trouble.
In 2020, EOG Resources, one of the largest oil and gas drillers in the U.S. (with international operations in Trinidad and China), sold *all* of its Marcellus assets, which were located in Bradford County, PA, to Tilden Resources for $130 million (see 
For the fourth week in a row and the 13th time in the last 14 weeks, the U.S. active rig count lost rigs. It’s grueling. Last week the number decreased by five rigs after falling five rigs the week before–now down to 659 active rigs across both oil and gas. The Marcellus dropped one rig (in Pennsylvania) for a combined M-U rig count of 45–the lowest this year. Some 14 weeks ago, the M-U lost four rigs (going from 53 down to 49). Seven weeks ago, we lost another rig, down to 48. Last week we lost two more down to 46, and this week another. The trend is not our friend.
Equitrans Midstream owns two natural gas storage wells in the Swarts Complex and Hunters Cave Storage Fields area of Greene County, PA–in Center, Franklin, Morris, and Washington Townships. CONSOL Energy, which used to be part of CNX Resources but is now a standalone company focusing on the coal industry, plans to mine coal above and around the Equitrans Hunters Cave and Swarts Natural Gas Storage Fields over the next several decades. So Equitrans is proposing to abandon its two existing storage wells (near where CONSOL needs to work) and drill two new wells in the same vicinity–just not near CONSOL’s coal mining activities.