PA Marcellus Gas Production Up 2%, Wells Drilled Down 18% in 3Q
Yesterday Pennsylvania’s Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report–for July through September 2020 (full copy below). The report shows natgas production in PA rose 2.0% compared to the same period last year, which is the lowest increase on record since the shale revolution began. The number of new wells spud (drilled) in 3Q20 was 111, down 18% over 3Q19.
Read More “PA Marcellus Gas Production Up 2%, Wells Drilled Down 18% in 3Q”
In September MDN brought you the news that pipeline company Enbridge is building a solar farm to provide electricity to power (in part) a Texas Eastern Transmission Pipeline Company (TETCO) compressor station in Hunterdon County, New Jersey, which is a first (see 
There are those in the non-thinking, arrogant, ignorant Big Green movement who demand (they always demand) that everyone (except themselves) stop using fossil fuels. Now. Or the earth is dead in 10-20 years. (It’s always 10-20 years, ever notice that?) And then there are those who kind of believe there may be something to man-made global warming who are looking for ways to reduce carbon emissions realistically. Those in the latter camp, people who actually think rationally, say there is one way to reduce CO2 emissions over the next 30 years: by using more (not less) natural gas.
The American Petroleum Institute (API) has finally grown a backbone. Maybe. Back on Nov. 7, the API welcomed, 
Pipeline giant Williams has cut a deal outside of bankruptcy court with Chesapeake Energy. The deal means Williams will continue to gather Chesapeake’s production in the Marcellus, Eagle Ford, and Midcontinent shale regions. Chessy has also committed to buying up to 150 million cubic feet per day (MMcf/d) of capacity on Williams’ new Transco Regional Energy Access project which will flow Marcellus gas to customers in Pennsylvania and New Jersey.
Every now and again we hear from MDN readers who mildly (or strongly) disagree with our politics and view of the leftwing Democrat Party and the frail, mentally-challenged Joe Biden (who won’t last two years in office before he’s pushed out for medical and/or mental reasons). They tell us a Biden presidency isn’t the end of oil and gas, and maybe he will even help our industry! (Even though Biden promised to “transition away from oil” in his last debate appearance.) We’re mystified that anyone can hold the view that Biden will be good for O&G, but there are people (in our audience) who do hold that view. The article below does a good job of capturing their viewpoint and thinking about the incoming Biden administration.
“OK Jim, what’s *really* going to happen to the oil and gas industry under a Joe Biden presidency? None of your apocalyptic B.S. please.” We’ve heard that sentiment/question expressed on occasion by MDN subscribers. Last week the Dallas Federal Reserve Bank and the Kansas City Reserve Bank hosted a virtual conference titled, “Energy and the Changing Economy: Navigating the Changing Energy Landscape.” Some of the best experts in the industry (some of them Biden supporters) delivered their best guess as to what will realistically happen over the next four years to the oil and gas industry under a Biden administration…
When a pipeline company considers whether or not to build a new pipeline, the company conducts an “open season”–a time when drillers (producers), traders, buyers and others who want guaranteed capacity along that pipeline can sign long-term contracts. Such contracts guarantee pipeline companies will be able to make back the considerable amount of money they have to spend to build the pipeline. What happens when those 5-, 10-, and 20-year contracts expire?
The plot thickens in the $60 million FirstEnergy nuclear subsidy bribery scandal. Last week MDN brought you the news that Ohio’s Attorney General, David Yost, had filed a second lawsuit to stop the collection of money from ratepayers that funds $150 million annual payments to FirstEnergy provided for under the law known as House Bill 6 (see 
The natural gas industry is proving effective at policing itself–far more effective than having the jackboots of the federal government step on its neck. Case in point: an industry group called Our Nation’s Energy Future (ONE Future), a coalition of 32 natural gas companies, released its 2019 report (below) that shows member companies collectively beat the group’s methane intensity goal by 67% for the year.
Kimmeridge Energy Management Company is a private equity investment firm focused on the upstream energy sector (drillers). Last week the firm published a white paper entitled, “Bringing Alignment and Accountability to the E&P Sector” (full copy below). The thesis of the paper is this: the alignment between drilling company executives and shareholders is “broken” and “a root cause” for the problem of poor earnings at drilling companies.
Earlier this month the Sierra Club filed yet another lawsuit (we’ve lost count of how many they’ve filed) attempting to block construction of the final 8% of Mountain Valley Pipeline (MVP). The Clubbers asked the U.S. Court of Appeals for the Fourth Circuit to “temporarily” block a permit issued by the U.S. Fish and Wildlife Service (see 
Believe it or not, there are still two environmentalist wackos living up a tree in Montgomery County, Virginia, preventing work crews for Mountain Valley Pipeline (MVP) from cutting trees to clear a path for the pipeline. This has been going on for years and frankly, everyone is tired of it. A county judge has found the two cowards not willing to reveal their names (known as Tree-sitter 1 and Tree-sitter 2) in contempt of court. Starting today if they don’t come down, they are both on the hook for a $500 per day fine.