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Energy Sector Jobs Have Steadily Grown Since June 2024

Yesterday, the Energy Workforce & Technology Council released its monthly jobs report, highlighting a rebound in employment across the U.S. energy services sector. Total jobs in the sector were reported at 655,630 for November 2024, reflecting an increase of 1,890 positions from October, according to preliminary data from the Bureau of Labor Statistics (BLS) and analysis conducted by the Energy Workforce & Technology Council. Overall employment in the energy sector has been higher each month compared with corresponding months last year beginning in June—an indicator that activity in oil and gas is ever-so-gradually beginning to increase again. Read More “Energy Sector Jobs Have Steadily Grown Since June 2024”

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OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589

The Baker Hughes national rig count dramatically increased last week, adding seven rigs for a national count of 589. Note that the national count continues to be rangebound between 581 and 589 since June (except for Sep. 13, when it hit 590 for a single week). Will we break out of the rut and go higher? Stay tuned. Meanwhile, the Ohio Utica lost one rig last week, but the Pennsylvania Marcellus picked it up, keeping the combined M-U count at 35. Read More “OH Drops 1, PA Adds 1 Rig; National Rig Count Soars, Adds 7 @ 589”

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AI Helps Researchers Find “Lost” Orphaned Oil & Gas Wells

An Artificial Intelligence Illustration on the WallYou’ve heard of UFOs—Unidentified Flying Objects. What about UOWs? That would be Undocumented Orphaned Wells. Not to be confused with undocumented illegal aliens. Researchers at the Department of Energy’s Lawrence Berkeley National Laboratory, located in Berkeley, California, have figured out how to use artificial intelligence (AI) to scan and read old maps, recognizing oil and gas well symbols on those maps to generate potential well locations that can then be verified via satellite imagery and field surveys. This may be the first practical thing to come out of Berserkely in years! Read More “AI Helps Researchers Find “Lost” Orphaned Oil & Gas Wells”

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IFO 3Q24 Report: New Wells Drilled in Pa. Lowest Since 2008

Yesterday, the Pennsylvania Independent Fiscal Office (IFO) released its latest quarterly Natural Gas Production Report for July through September 2024 (full copy below). There were 63 new horizontal wells spud (drilled) in 3Q24, the same exact number as in 2Q24, but 3Q’s number was a decrease of 39 wells (-38%) compared to the third quarter of 2023. The number of new wells drilled, 63, is the lowest since 2008 (except for 2Q24, which was also 63). This was the eighth consecutive quarter with a year-over-year (YOY) decline in new wells spud. Natural gas production volume was 1,838 billion cubic feet (Bcf) in 3Q24, down 33 Bcf (1.8%) from the 1,871 Bcf produced in 3Q23. Read More “IFO 3Q24 Report: New Wells Drilled in Pa. Lowest Since 2008”

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WoodMac Changes Course – Says U.S. LNG Essential for Asia

In June, we told you that a once-respected oil and gas consultancy had become a partisan purveyor of pap (see WoodMac Pimps Itself Out for Democrats in New “Report” re Election). We were referring to Wood Mackenzie, the “global insight business for renewables, energy and natural resources.” In a June report, WoodMac analysts made this partisan statement: “A Republican victory in 2024 could roll back decarbonisation policies and usher in a delayed energy transition for the US.” The not-so-subtle implication was that if you care about the planet and the mythical “energy transition” that must take place (or else)…you’ll vote Democrat in November. My oh my, what a difference a landslide election makes… Read More “WoodMac Changes Course – Says U.S. LNG Essential for Asia”

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M-U Rigs Steady @ 35; National Rig Count Drops Another Rig @ 582

The Baker Hughes national rig count dropped another rig last week and now sits at 582. The national count continues to be rangebound between 581 and 589 since June. Slicing the national count slightly differently—by oil-focused vs. gas-focused rigs—oil rigs fell by two to 477 last week, their lowest since July, while gas rigs rose by one to 100. Last week, all three Marcellus/Utica states maintained the same count for the third week in a row, with PA operating 15 active rigs and Ohio and West Virginia operating 10 rigs each, for a combined 35 rigs. That’s the third week in a row the M-U has operated 35 rigs. It feels like the doom and gloom is finally starting to lift. Read More “M-U Rigs Steady @ 35; National Rig Count Drops Another Rig @ 582”

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New Study Proves LNG is Far Cleaner Than Anyone Thought

In October, MDN told you about a Congressional investigation looking into the Department of Energy’s use of a prematurely released “study” as an excuse to “pause” (i.e., ban) new LNG export approvals (see Congress Probes Role of Bob Howarth Study in DOE LNG Pause). Cornell professor Robert Howarth, using money from the anti-fossil fuel Park Foundation, wrote a “study” that purports to show that LNG is worse for the environment than burning coal! It’s an elaborate exercise in mental gymnastics. The DOE used the study before it was peer-reviewed and published, i.e., before it was properly vetted. Now comes a true peer-reviewed study that exposes Howarth’s study as sloppy and unreliable. Read More “New Study Proves LNG is Far Cleaner Than Anyone Thought”

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M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583

The rig count in the Marcellus/Utica appears to have stabilized, and that’s a good thing. For a while, it was in freefall, at least in Pennsylvania. In October, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Since then, PA has recovered a few rigs, clawing and scratching every inch of the way. Last week, the PA count stood at 15, the same as the prior week. Ohio and West Virginia held steady, with ten active rigs each. The M-U had a combined 35 rigs operating for the second week in a row, the most since August. Read More “M-U Rigs Steady @ 35; National Rig Count Drops One Rig @ 583”

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Penn State Says Bullying Companies to Reduce Emissions Works

Some interesting research coming from Penn State (and Binghamton University). A paper recently published in the Journal of the Association of Environmental and Resource Economists found that companies contributing the greatest pollution and emissions were more committed to reducing pollution because they faced greater public scrutiny and risked being labeled as “greenwashers” — entities that make false claims about their environmental impact. In other words, public shaming and bullying (our words) make companies change their behavior. But there was another finding that equally intrigued us… Read More “Penn State Says Bullying Companies to Reduce Emissions Works”

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PA Adds One Rig, Now @ 15; National Rig Count Drops One Rig @ 584

One month ago, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Since then, PA has re-added one rig per week for three weeks in a row, and as of last Friday, the state was running 15 rigs for the first time since early October. Ohio and West Virginia both remained constant, with ten active rigs each. Cumulatively, the M-U sported 35 active rigs last week. We haven’t seen a rig count that high since August of this year (three months ago). Read More “PA Adds One Rig, Now @ 15; National Rig Count Drops One Rig @ 584”

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Nov. STEO Predicts Henry Hub Gas Price to Average $2.90 in 2025

EIA price-picking dart board

The U.S. Energy Information issued its latest monthly Short-Term Energy Outlook last week, the agency’s monthly best guess about where energy prices and production will go in the next 12 months. In October, the EIA predicted the average spot price for natural gas will be $3.10/MMBtu in 2025 (see Oct. STEO Predicts Lower Output, NatGas Price to Avg $3.10 in 2025). Last week, the agency reduced that number by $0.20 to $2.90/MMBtu. EIA predicted the average spot price for natural gas for all of 2024 will end up being $2.20/MMBtu, a drop of $0.10 from the October prediction. EIA analysts also predict that the average spot price will be $2.80 during the first quarter of next year. Read More “Nov. STEO Predicts Henry Hub Gas Price to Average $2.90 in 2025”

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PA Re-Adds a Rig to 14; National Rig Count Even 3rd Week @ 585

Three weeks ago, Pennsylvania’s rig count dropped to just 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Two weeks ago, PA picked up a rig, returning to 13 active rigs. Last week, Baker Hughes reported PA added yet another rig, and the state count is now at 14. Almost three months ago (as of August 23), PA operated 21 rigs for perspective. Last week, Ohio and West Virginia maintained their respective counts of 10 active rigs each. The combined count in the M-U stands at 34. Read More “PA Re-Adds a Rig to 14; National Rig Count Even 3rd Week @ 585”

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Report: Biden-Harris EPA Spending $2.8B on Anti-Fossil Fuel Groups

Yesterday, the House Energy and Commerce Committee issued a report exposing the Biden administration’s massive green group giveaway (copy of the report below). The EPA received $41 billion from the misnamed Inflation Reduction Act (IRA), legislation made possible by Joe Manchin’s vote and signed into law by President Joe Biden in 2022 (see Tragedy: Joe Manchin Caves & Agrees to Big Green Build Back Better). The EPA allocated $2.8 billion from the funds to be managed by the Office of Environmental Justice and External Civil Rights (OEJECR), which, according to the report, is funding ‘radical, left-leaning’ environmental groups that call for an end of fossil fuels. It’s corrupt cronyism of the worst kind. Read More “Report: Biden-Harris EPA Spending $2.8B on Anti-Fossil Fuel Groups”

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PA Re-Adds One Rig to 13; National Rig Count Even 2nd Week @ 585

Two weeks ago, Pennsylvania lost another rig, going from 13 rigs down to 12 rigs, the lowest that state has operated in the last 17 years (see PA Drops Another Rig to 17-Year Low; National Rig Count Even @ 585). Last week, PA picked up one rig, so the tally is back to 13. It’s still not great, but we suppose it’s progress. A little over two months ago (as of August 23), PA operated 21 rigs. We went through a period of rapid rig loss in the Keystone State. Last week, Ohio and West Virginia maintained their respective counts of 10 active rigs each. Read More “PA Re-Adds One Rig to 13; National Rig Count Even 2nd Week @ 585”

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U.S. and M-U Ethane Production Reached Record High in 1H24

U.S. ethane production increased steadily over the last decade and reached a record of 3.0 million barrels per day (b/d) in May 2024. Ethane production in the first half of 2024 (1H24) averaged a record 2.8 million b/d, according to data from the U.S. Energy Information Administration’s (EIA) Petroleum Supply Monthly. Ethane production in the Marcellus/Utica region (called the Appalachian No. 1 refining district), which straddles most of the Appalachian Basin production area in Pennsylvania and West Virginia, increased during 1H24, averaging 327,000 b/d, up from 292,000 b/d in 1H23. Read More “U.S. and M-U Ethane Production Reached Record High in 1H24”

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NETL Research Says Hydrogen Can Safely Be Stored Under Shale

Hydrogen is all the rage, at least in the D.C. swamp. Joe Biden and his sidekick Kamala Harris held a Hydrogen Hunger Games contest and in 2013 awarded seven proposed projects around the country with a total jackpot of $7 billion. Among the winners was the West Virginia-led Appalachian Regional Clean Hydrogen Hub (ARCH2), which is a project that will use Marcellus/Utica natural gas as the feedstock to produce “blue” hydrogen, which is hydrogen made from natgas where carbon dioxide from the process is captured and either used or stored underground (see Hydrogen Hub Winners Announced – WV Takes Prize in M-U Region). There are a lot of questions about using hydrogen to produce energy and trying to replace natural gas with hydrogen. One of those questions, which has gone unanswered (until now), is whether you can store hydrogen underground like natural gas. The National Energy Technology Laboratory (NETL) has an answer. Read More “NETL Research Says Hydrogen Can Safely Be Stored Under Shale”