Northeast NatGas Prices This Winter Predicted to be Highest in 4 Yrs
Analysts are predicting natural gas prices in the northeastern U.S. market area “could hit their highest [rate] in four years or more” this coming winter. Why? Producers have not ramped up drilling to the same levels we saw prior to the COVID pandemic. Lack of new drilling is causing a storage deficit–less gas being socked away for the winter months. With “strong demand” coming this winter, futures prices for the coming winter months in the northeast is already on the climb–in some places more than $14/MMBtu!
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Pipeline giant Williams delivered its second quarter update yesterday. It was obvious from the chatter by company executives, including CEO Alan Armstrong, that the Marcellus/Utica continues to play a key and important role in the company’s future. However, Williams is also expanding its footprint in the Haynesville Shale in Louisiana. Armstrong announced a second joint venture in the Haynesville, with private producer GeoSouthern Energy Corp.
The CO2 Coalition, a nonprofit established in 2015 for the purpose of educating thought leaders, policymakers, and the general public about the important contribution made by carbon dioxide to our lives and the economy, has just published a detailed analysis of Pennsylvania’s plan to join the Regional Greenhouse Gas Initiative, or RGGI (full copy below). In the report, more than 70 top scientists conclude that PA Gov. Tom Wolf’s justifications for the RGGI carbon tax “are invalid and its claims of environmental and economic benefits are fiction.”
Back in June, MDN brought you insights from the U.S. Energy Information Administration (EIA) which noticed the decreasing number of 
Privately-owned Penn Production Group, LLC, which concentrates on exploration and production for oil and gas in western Pennsylvania, closed on the purchase of certain assets owned by Greylock Energy in Clearfield County, PA on July 30. The assets include 20 miles of pipeline (called Mid Stream) that feeds the gas-fired Shawville GenOn Generating Station and the Dominion pipeline.
The radicals at the Pennsylvania Environmental Defense Foundation (PEDF) are not just content to block any future use of royalties from drilling on state land to fund only Big Green priorities, as they recently won the right to do (see 
America’s natural gas and oil industry announced “a landmark partnership” in late 2017 called The Environmental Partnership, to “accelerate improvements to environmental performance in operations across the country” (see 
We happen to think the oil and gas industry has sort of lost its collective mind. We’ve lost the battle over fossil fuels by conceding that carbon dioxide, the stuff you emit with every breath you take, is somehow polluting the planet. If we concede that point, it’s all downhill from there. Environmentalist wackos will not stop until all fossil fuels are permanently eliminated from the energy mix–which will be devastating to humankind. But they don’t care. Still, you can’t miss the fact that O&G is “doing its part” to reign in carbon and methane emissions, playing along with the demands of the left. ESG has become a more common phrase in the quarterly updates of O&G companies than barrels of oil and thousands of cubic feet of natural gas. What is O&G doing with respect to ESG, hydrogen, and carbon capture sequestration? And where is it all heading? Will O&G companies actually hit net carbon zero?
In June MDN brought you the news that Enbridge’s Texas Eastern Transmission (TETCO) pipeline is being flow-restricted by the Pipeline and Hazardous Material Safety Administration (PHMSA). Some 40% of the Marcellus/Utica molecules that flow through TETCO’s pipeline to destinations in the southeastern U.S. disappeared and were predicted to stay that way until the end of September (see 
Three weeks ago MDN told you about Equitrans’ plan to buy indulgences, er, a, carbon offsets for its 303-mile Mountain Valley Pipeline (MVP) project (see 
The anti-fossil fuelers of Nicetown, PA (near Philadelphia) aren’t so nice. Even though a Marcellus gas-fired power plant in Nicetown has already been built by the Southeastern Pennsylvania Transportation Authority (SEPTA) and is currently in operation (has been since last November) providing cheap electricity for railroads and heat for a local bus depot, antis want it all shut down. They claim it’s racist to have the facility located in the community where it’s located. The Joe Biden EPA is investigating Nicetown with an eye to shutting it all down. What a tragedy on so many levels. Once again energy has been politicized by the left in this country.
The Federal Energy Regulatory Commission (FERC) is moving to revise a two-decade-old standard that guides approval of proposed interstate natural gas pipelines. FERC Chairman Richard “Dick” Glick informed a congressional panel last week of the impending changes. Glick wants to permanently change the standards used so future FERC commissioners will be handcuffed to his twisted view of global warming when considering whether or not to approve a pipeline project.
Seneca Resources, the drilling arm of utility giant National Fuel Gas Company, is conducting its first experiment with electric fracking. We’re aware of at least three other Marcellus/Utica drillers that currently use electric fracking: Range Resources, CNX Resources, and Olympus Energy (former Huntley & Huntley). Seneca, like Range, will use U.S. Well Services to provide e-fracking. Seneca is conducting a field trial for a 6-well pad in Lycoming County, PA.
It seems to be the season of not only second quarter updates, but also 2020 ESG (environmental, social, governance) updates, often referred to as corporate sustainability or social responsibility reports. There are half a dozen different phrases and terms used to describe the same thing. Yesterday Equitrans Midstream Corporation (the former EQT Midstream) issued its 2021 Corporate Sustainability Report, covering activity for the calendar year 2020.
The latest weekly Enverus U.S. rig count shows total rigs in use retreating just a bit. For the week ending July 28, the rig count stood at 599, down 5 rigs from last week’s post-pandemic high of 604 (see