Coterra Energy (Cabot O&G) | Energy Companies | Industrywide Issues | Pennsylvania | Research | Susquehanna County
API’s “State of American Energy” Highlights Coterra Employee
Yesterday the American Petroleum Institute (API) issued its annual “State of American Energy” report (full copy below). We will say right up front we’ve had our differences of opinion with the API and its direction, particularly over the past year, but there is no disputing the API remains the premier organization representing the oil and gas industry in the U.S. (and beyond). The API is at the top of the O&G food chain. So it’s a big deal that during the annual virtual event to unveil the latest API report the organization featured a young completions engineer who works for Coterra Energy (formerly Cabot Oil & Gas) in Susquehanna County, PA.
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The general consensus we keep reading is that most shale drillers are returning to “moderate” growth this year. But what does that mean? How much growth in production (and consequently in new spending) is moderate? Based on an article appearing in the Washington Examiner, we think we have the answer.
Five Chinese researchers recently published a study in Springer’s Environmental Science and Pollution Research International journal that claims to have identified environmental and health threats in unconventional oil and gas by analyzing old compliance reports from the Pennsylvania Dept. of Environmental Protection. The study claims to have found problems with erosion and sedimentation issues and with water pollution issues. Their conclusion is that PA fines aren’t high enough to change the bad behavior of shale drillers.
Hey men (and those who “identify” as men), when was the last time you checked your sperm count? Quick! Check it asap! A new study says a substantial drop in sperm counts and fertility rates over the past 50 years “could be” linked to pollution from the (gasp) burning of fossil fuels. That’s right. Burn those nasty fossil fuels and what do you get? Low sperm counts. So says…The Onion? Comedy Central? Jerry Seinfeld? Nope. So says a “study” published in the journal Nature.
S&P Global Platts and its analytics division is a powerhouse provider of information, analysis, and benchmark prices for the commodities and energy markets. We often bring you their insights. Yesterday Platts Analytics released their 2022 energy outlook. Next year, Platts Analytics expects supply will catch up and exceed demand. Let that sink in. In 2022 we will see an increase in LNG exports, a rebound in U.S. shale oil, shale gas, and shale NGLs production–and the return of investment in non-OPEC production. You can guess what all that means for prices…
Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity, and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. Oil and gas investment will need to return to pre-COVID levels and stay there through 2030 to restore market balance, the report states. If more investment doesn’t happen quickly, the world will experience more price gyrations and it will lead to “adverse economic consequences,” such as wider energy poverty, more frequent scarcity, and fuel switching to more polluting energy sources such as wood and coal.
Here’s a startling statistic: A survey of nearly 17,000 global energy industry companies, recruiters, and workers conducted by Brunel and 
Something strange is happening–has been happening for years now. When we first started to cover the Marcellus/Utica on the MDN site in January 2009, the received wisdom was “the more active rigs, the more production,” and conversely, “fewer active rigs will lead to less production.” But a funny thing happened on the way to the forum. Drillers got better at drilling. More efficient. And more production could be had from fewer wells and less drilling of wells. Even though rig counts go down and stay down, production stays the same or goes up. That’s the situation we find ourselves in currently.
The Beech Hollow Power Plant in Robinson Township (Washington County), PA broke ground on construction for a 1,000-megawatt Marcellus-fired project last fall when they began to pour concrete. However, construction stopped. The builder, Robinson Power Company LLC, wanted to resume construction but got caught up in a controversy over issued and withdrawn permit applications. The leftwing radicals at the Clean Air Council (located on the other side of the state, in Philadelphia) challenged a permit by the DEP to allow Robinson Power to resume construction. A few weeks later Robinson, tired of repeated lawsuits, threw in the towel and canceled the project (see