Radical Left Turns Up Heat on Gov. Hochul to Sign CO2 Frack Ban Bill
Isn’t this interesting? Two days ago, MDN published a post pointing out that a bill passed by both houses of the New York State legislature to ban so-called carbon dioxide (CO2) fracking had still not been signed into law by Gov. Kathy Hochul (see 2 Mo. After NY Legislature Passed CO2 Frack Ban, Gov Hasn’t Signed). We published that post not having seen a single article or reference online anywhere (news or otherwise) about the situation. And the very next day, a group of radicalized Democrat lawmakers that sponsored and voted for the bills, along with a press release by the vicious Food & Water Watch organization, criticized Gov. Hochul for “jetting” and “cavorting” to Europe to “grandstand on climate leadership” while not having signed this bill into law. These Dems are not nice people. They sometimes eat their own.
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TransCanada Corporation, which renamed itself TC Energy in 2019, made a play for and bought out/merged with U.S.-based Columbia Pipeline Group in 2016 (see 
CNX Resources Corp., KeyState Energy, and Pittsburgh International Airport (PIT) are working together on a $1.5 billion project that, if completed, would make sustainable aviation fuel (SAF) at PIT from coal mine methane gas. But only if the Bidenistas deeply embedded in the IRS allow coal mine methane to qualify for green energy tax credits. That’s a really big IF. CNX and KeyState announced yesterday that the two companies signed a letter of intent (non-binding for now) to build a SAF facility at PIT to turn coal mine methane into hydrogen that would be used as aviation fuel.
Antero Resources Corporation announced yesterday that it received an investment-grade BBB credit rating from S&P Global Ratings. S&P upgraded Antero’s corporate and issuer credit ratings to BBB—from BB+ with a stable outlook. Antero has maintained an investment-grade credit rating from Fitch Ratings since September 2022. This credit upgrade means the company will not need as many letters of credit and will lower the interest rates it pays on borrowed money.
On the demand front, we’ve been tracking the up down up down up down and now up again situation at Freeport for weeks (months, years). Freeport had been mostly offline following an episode of cold temps in January (see 
NATIONAL: Fake Evangelicals want to force small farmers out of business; U.S. clean ammonia projects inch forward, but some may falter; Plug Power receives $1.66 billion in DOE loan guarantees; US regulators seek emission data updates for Venture Global LNG; Kenworth to roll out trucks with X15N natural gas engine in Q3; INTERNATIONAL: Macquarie, Standard Chartered analysts offer oil price projections; Red Sea disruptions are splitting global LNG trade into regions; Qatar says new global LNG projects will be needed after 2030.
The latest monthly U.S. Energy Information Administration (EIA) Drilling Productivity Report (DPR) for May, issued Monday (below), shows EIA believes shale gas production across the seven major plays tracked in the monthly DPR for June will decrease production from the prior month of May. This is the eleventh month in a row that EIA has predicted shale gas production will decrease for the combined seven plays and (according to Reuters) will hit the lowest production level in five months. However, gas production won’t decrease everywhere. Gas-focused plays like the Marcellus/Utica and the Haynesville will see the most significant drop in production (a combined loss of 443 MMcf/d). In contrast, the oily Permian play will see a massive boost in the production of “associated” natural gas — the gas that comes out of the ground along with oil — up 143 MMcf/d. The Permian also adds another 18,000 barrels per day of oil production in June.
ECA Marcellus Trust I, the royalty interest holder in some of the wells drilled and maintained by Greylock Energy in Greene County, PA, announced it would issue a 2.1-cents ($0.021) dividend to unitholders for 1Q24. The company paid 4.3 cents per unit in 1Q23, nothing in 2Q23, six-tenths of a penny ($0.006) in 3Q23, and 3.0 cents per unit in 4Q23. The company continues to hold back some profits ($90,000 in 1Q24) to build a cash reserve for “future known, anticipated or contingent expenses or liabilities.”
In the fall of 2021, President Biden signed into law the so-called Infrastructure bill, some $1.2 trillion in pork barrel spending, passed with the help of turncoat Republicans (see 
The Bidenistas at the EPA attacked coal and gas-fired power plants in April, threatening to destabilize the existing electric power grid with new regulations (see 
According to Energy in Depth, opposition to the Rockefeller-backed LNG export “pause” keeps pouring in from Republicans and Democrats alike. Last week, eight “moderate” (i.e., desperate) Democrat members of Congress sent a letter to President Biden requesting regular updates on the Dept. of Energy’s evaluation of LNG exports and more clarity on the timeline of the pause. The sycophantic Dems refused to condemn Biden’s overt action to harm American energy. However, they did “urge” him to “bring about a swift end to the LNG export permit pause” and to ensure “that any regulatory changes be incorporated in an open and transparent means.”
On May 1, a section of the Mountain Valley Pipeline (MVP) near Roanoke, VA, failed (ruptured) during pressurized water testing conducted to ensure that there were no leaks or flaws (see 
Is there a crack of light, a sliver of hope, that a bill passed by both the New York Assembly and Senate to ban carbon dioxide “fracking” will NOT be signed into law by New York’s left-leaning Governor, Kathy Hochul? The bill was passed by the Senate on March 20 after already passing in the Assembly (see 
Last week, in reporting on pipeline giant Williams’ first quarter 2024 update, we told you about a major new project Williams has begun to replace (upgrade) 112 mainline compressor units with state-of-the-art low-emission turbines and electric drive units on the Transco and Northwest Pipe (see