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Marcellus Drilling News
  • Anti-Drilling/Fossil Fuel | Hydraulic Fracturing | Industrywide Issues | Ohio | Regulation | Statewide OH

    Cleveland Democrat Floats Bill to Require Frack Chemical Disclosure

    July 11, 2024July 11, 2024

    An anti-drilling Democrat member of the Ohio House of Representatives (representing a Cleveland suburb) would love nothing more than to ban all shale drilling in his state. He has just introduced a bill requiring drillers to disclose any and all chemicals they use for any purpose when drilling a new shale well under state-owned land. State Rep. Sean Patrick Brennan, representing the 14th Ohio House District, claims House Bill (HB) 562 will “improve public safety and transparency.” Will it? Is that its real purpose?
    Read More “Cleveland Democrat Floats Bill to Require Frack Chemical Disclosure”

  • Commodity Price | Industrywide Issues

    Gas Trader Predicts NatGas $2.50 in 2024, $3.00+ in 2025 & Beyond

    July 11, 2024July 11, 2024

    Yes, we’ve been keeping an eye on the (pathetic) price of natural gas as it flounders and flops. The NYMEX Henry Hub front-month contract briefly went above $3/MMBtu earlier this year, but since that time, it’s had a hard time staying above $2. It’s depressing. From time to time, we bring you predictions from various studies and government agencies. Just yesterday, we told you that EIA’s monthly Short-Term Energy Outlook predicts an average HH price of $2.50 in 2024, and $3.30 in 2025 (see July STEO Predicts U.S. Natgas Output Declines, Demand Rises 2024). The people who create the price — natural gas traders — often provide unique insights. We have one such trader’s insights into what he believes will happen for the balance of 2024 and into 2025.
    Read More “Gas Trader Predicts NatGas $2.50 in 2024, $3.00+ in 2025 & Beyond”

  • BP | Energy Companies | Industrywide Issues | Research

    Politically Correct BP Says World Taking Too Long to “Transition”

    July 11, 2024July 11, 2024

    No, we’re not talking about transitioning from male to female and female to male, a mental disorder that’s celebrated in popular culture these days. We’re talking about the “other” transitioning — from using fossil fuels to…using nothing, because without fossil fuels, you get nothing when it comes to energy. The left pretends solar and wind energy can power the world, and it’s coming any day now. Except, as we pointed out yesterday, 81.5% of all energy used throughout the world in 2023 came from fossil fuels (see Statistical Review Finds Fossil Fuels Provide 81.5% of World Energy). To force humans away from using fossil fuels is to force a mass extinction event. But, because all of the cool kids claim the world is (or should be) transitioning away from fossil fuels, some, even in the oil and gas industry, play along. Like the fools at BP, formerly British Petroleum.
    Read More “Politically Correct BP Says World Taking Too Long to “Transition””

  • Carbon Capture | Industrywide Issues

    Occidental Fleeces Microsoft into Buying Carbon Indulgences

    July 11, 2024July 11, 2024

    Maybe the oil and gas industry will get the last laugh after all. We’ve written many posts comparing carbon offsets/credits to the practice of the Catholic Church selling indulgences in the Middle Ages to absolve you of your sins (see our stories here). But that doesn’t really work. Your sins don’t magically go away if you pay money. It’s the same with carbon offsets or carbon credits. Companies that buy an offset can keep right on “polluting” or emitting CO2. The overall level of CO2 “pollution” doesn’t change. Typically, oil and gas companies buy such offsets to “prove” they are worthy of continuing to extract oil and gas. This time around, it’s an oil company that’s doing the selling!
    Read More “Occidental Fleeces Microsoft into Buying Carbon Indulgences”

  • Best of the Rest

    Other Stories of Interest: Thu, Jul 11, 2024

    July 11, 2024July 11, 2024

    OTHER U.S. REGIONS: Tellurian gets FERC approval for Driftwood completion; New York to roll out small shampoo bottle ban at hotels; INTERNATIONAL: Houthi attacks in Red Sea sharply increase.
    Read More “Other Stories of Interest: Thu, Jul 11, 2024”

  • Athens County | Energy Services | Industrywide Issues | Ohio | Regulation | Tallgrass Energy | Wastewater

    Owner of 3 Athens, OH Injection Wells Applies to Permanently Plug

    July 10, 2024July 10, 2024

    In April, the Ohio Oil and Gas Commission upheld a regulatory order from the Ohio Dept. of Natural Resources (ODNR) suspending operations of three wastewater injection wells located in Torch (Athens County), OH, owned by K&H Partners, a subsidiary of Tallgrass Energy (see Ohio O&G Commission Votes to Shut Down 3 Athens Injection Wells). The Athens County Independent is reporting K&H is officially throwing in the towel and has applied to plug its three Torch injection wells.
    Read More “Owner of 3 Athens, OH Injection Wells Applies to Permanently Plug”

  • Indiana County | Industrywide Issues | M&A | Pennsylvania | Supply Chain

    Marcellus Shale Testing Lab in PA Sells Itself to Minneapolis Co.

    July 10, 2024July 10, 2024

    Incorporated in 1988, Environmental Service Laboratories, Inc. (ESL) is an environmental testing laboratory based in Indiana, PA, providing various analytical testing, consulting, and field sampling services. ESL customers include Marcellus/Utica natural gas drilling companies, industrial facilities, municipalities, engineering firms, local/state/federal government, and the general public. ESL is accredited to test drinking water, wastewater, soil, solid materials, natural gas, frozen dairy products, and meat. ESL has just sold itself for an undisclosed amount to Pace Analytical Services, based in Minneapolis, MN.
    Read More “Marcellus Shale Testing Lab in PA Sells Itself to Minneapolis Co.”

  • Diversified Energy | Energy Companies | Industrywide Issues | M&A

    Diversified Buys More East Texas Assets from Crescent Pass Energy

    July 10, 2024July 10, 2024

    Diversified Energy (formerly Diversified Gas & Oil), with major assets in the Marcellus/Utica region (with assets in other regions, too), owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive. Last September, Diversified’s CEO Rusty Huston, in an interview with Forbes, signaled that he would be looking to buy more assets outside of the Marcellus/Utica — specifically along the Gulf Coast (see Diversified CEO Says Gulf Coast has Brighter Future than Appalachia). Since that time, he’s made good on his statement. This morning, the company announced yet another Gulf Coast deal: buying 170,000 acres with 827 active conventional wells and producing 38 MMcfe/d in East Texas for $106 million.
    Read More “Diversified Buys More East Texas Assets from Crescent Pass Energy”

  • Commodity Price | Industrywide Issues | Research

    July STEO Predicts U.S. Natgas Output Declines, Demand Rises 2024

    July 10, 2024July 10, 2024
    click for larger version

    Once a month, the 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. Starting last month, the EIA axed its monthly Drilling Productivity Report that focused on shale plays and instead rolled it into the monthly STEO (see Biden EIA Dumps Detailed Monthly U.S. Shale Drilling Report). We’re still grumbling about the change. So, what did yesterday’s July 2024 STEO show? On a macro level, the EIA predicts U.S. natural gas production will decline in 2024 while demand will rise to a record high.
    Read More “July STEO Predicts U.S. Natgas Output Declines, Demand Rises 2024”

  • Industrywide Issues | Regulation

    Bipartisan Bill Would Study Carbon Emissions from China Products

    July 10, 2024July 10, 2024

    Conservative Republicans in the U.S. Senate and House are pushing a so-called bipartisan bill to “study” the carbon emissions of products produced in the U.S. versus emissions for products manufactured in other countries, like China. We think this may be a slippery slope. We first wrote about this issue in March 2023 when the Senate was working on the bill (see Senate Republicans Working on “Foreign Pollution Act” to Tax Carbon). The Senate bill was introduced last June and passed the Senate Environment and Public Works (EPW) Committee 14-5 in January.
    Read More “Bipartisan Bill Would Study Carbon Emissions from China Products”

  • BP | Energy Companies | Industrywide Issues | Research

    Statistical Review Finds Fossil Fuels Provide 81.5% of World Energy

    July 10, 2024July 10, 2024

    For donkey’s years, BP (British Petroleum) published its annual Statistical Review of World Energy — since 1952. Last year BP said it would no longer publish it and instead turn it over to a Big Green advocacy group known as The Energy Institute (EI) to publish (see BP Dumps Annual Statistical Review – Energy Institute New Publisher). To its credit, EI’s freshman outing last year didn’t hide the news that fossil energy continued to be the main source of the world’s energy in 2022 (see Statistical Review Finds Fossil Fuels Provide 82% of All Energy). EI’s sophomore outing shows the same thing. In 2023, fossil energy use worldwide went down a half percentage point from 2022, to 81.5%. Hey lefties, what happened to solar and wind taking the energy world by storm, putting fossil fuels out of business any day now?
    Read More “Statistical Review Finds Fossil Fuels Provide 81.5% of World Energy”

  • Best of the Rest

    Other Stories of Interest: Wed, Jul 10, 2024

    July 10, 2024July 10, 2024

    MARCELLUS/UTICA REGION: Washington County Transit Authority gets $15M for new CNG terminal; Honeywell strikes $1.8 billion deal for LNG business; OTHER U.S. REGIONS: Construction progresses on Sempra’s Port Arthur LNG export project; Pennybacker buys New Fortress Energy Miami LNG; NATIONAL: Oil falls as traders analyze Powell comments; Sen. James Inhofe, a courageous dissident on climate crisis, passes away; US Oil and Gas president says he supports RNC platform; INTERNATIONAL: Will OPEC+ ever rein in its non-compliant members?; Disney launching cruises in Japan; America’s NATO partners anticipate U.S. LNG supplies to Europe; Russia and Iran move closer to creating gas OPEC-style cartel.
    Read More “Other Stories of Interest: Wed, Jul 10, 2024”

  • Anti-Drilling/Fossil Fuel | Carbon Capture | Industrywide Issues | Pennsylvania | Regulation | Statewide PA

    PA Antis Split Over Issue of Carbon Capture & Sequestration

    July 9, 2024July 9, 2024

    Pennsylvania Democrat leftists face a conundrum. Do they listen to one set of environmentalist wackos, including the Pennsylvania Environmental Council, Environmental Defense Fund, Nature Conservancy, and Clean Air Task Force? Or do they listen to a different set (on the same ideological side of the aisle), including Better Path Coalition, 350 Pittsburgh, 412 Justice, the Center for Coalfield Justice, and the Clean Air Council? Two weeks ago, the first set of wackos threw their support behind PA Senate Bill (SB) 831, the Carbon Capture & Sequestration (CCS) Act (see PA House Advances Carbon Capture & Sequestration (CCS) Act). Earlier this week, the latter group of wackos sent lawmakers a letter opposing SB 831. What’s a lib Dem to do?
    Read More “PA Antis Split Over Issue of Carbon Capture & Sequestration”

  • Energy Companies | EOG Resources | Ohio | Statewide OH

    EOG Zags with Organic Growth While Everyone Else Zigs with Mergers

    July 9, 2024July 9, 2024

    Mergers and Acquisitions (M&A) have been all the rage over the past year or so. In 2024 alone, Chesapeake Energy announced a $7.4 billion deal to buy Southwestern Energy (see Deal is Done! Chesapeake & Southwestern Announce $7.4B Merger). However, oil plays, including the Permian and Bakken, are where the biggest deals are happening. ExxonMobil announced a deal to buy the Permian’s largest independent, Pioneer Natural Resources, for $60 billion. Diamondback Energy is buying Endeavor Energy Resources for $26 billion. Chevron is attempting to buy Hess Corporation (big assets in the Bakken and assets in foreign markets) for $53.5 billion. However, one large, publicly traded company is charting a different course, preferring to grow acreage organically and concentrate on previously unknown or overlooked hydrocarbon plays. That company is EOG Resources.
    Read More “EOG Zags with Organic Growth While Everyone Else Zigs with Mergers”

  • Energy Services | Industrywide Issues | Pipelines | Regulation | Transco | Williams

    FERC OKs Request to Start Up More of Transco REAE Pipe Expansion

    July 9, 2024July 9, 2024

    Williams’ Regional Energy Access Expansion (REAE) project involves expanding the mighty Transco pipeline in Pennsylvania and New Jersey to deliver an extra 829 MMcf/d of Marcellus gas to PA, NJ, and Maryland. Part of the project was completed and went online last year (see Williams 1Q—Regional Energy Access Pipe Coming Online Early). The rest of the project is scheduled to be completed and online by the end of this year. On June 7, Williams asked FERC for permission to bring another chunk of the REAE project online as soon as July 1st (see Williams Asks FERC to Place More of Regional Energy Access Online). On Wednesday, June 26, FERC granted its permission to start it up.
    Read More “FERC OKs Request to Start Up More of Transco REAE Pipe Expansion”

  • Energy Services | Industrywide Issues | Litigation | Pennsylvania | Pipelines | Regulation | Statewide PA | Transco | Williams

    3rd Circuit Sides with PA Antis’ Right to Appeal REAE Permits

    July 9, 2024July 9, 2024

    As we mentioned in a companion post today, the Williams Transco Regional Energy Access Expansion (REAE) project recently received permission from the Federal Energy Regulatory Commission (FERC) to begin operations for another segment of the REAE project, flowing an extra 130 MMcf/d of natural gas to Pennsylvania, New Jersey, and Maryland (see FERC OKs Request to Place More of Regional Energy Access Online). However, yesterday, Williams suffered a minor legal setback related to the REAE project.
    Read More “3rd Circuit Sides with PA Antis’ Right to Appeal REAE Permits”

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