NATIONAL: Berkshire now owns nearly 29 percent of Occidental; Oil rises above $80 for first time in a month; Front month Nymex natural gas fell 3.23% to settle at $2.7880.
Read More “Other Stories of Interest: Tue, Jun 18, 2024”
On Friday, Equitrans Midstream, the builder and majority owner of the 303-mile Mountain Valley Pipeline (MVP) that runs from Wetzel County, WV, to Pittsylvania County, VA, announced the pipeline has, after a decade of planning and building, finally begun to flow Marcellus/Utica molecules. Who is buying those molecules? We know of at least one company. In a separate announcement, Roanoke Gas Company (a large local utility) said it had begun to purchase M-U molecules from MVP on Friday. Roanoke Gas said for the first time since 1965, the Roanoke Valley now has access to a new interstate natural gas pipeline via two interconnections Roanoke Gas has with MVP.
Read More “Confirmed: M-U Gas Now Flowing Through Mountain Valley Pipeline”
Tennessee Gas Pipeline’s (TGP) plan to flow an extra 115 MMcf/d of Marcellus gas to Westchester County, NY, and New York City to be used for Consolidated Edison customers is called the East 300 Upgrade Project. The project took a giant leap forward in April 2022 when the Federal Energy Regulatory Commission (FERC) issued permits that allow TGP to upgrade two existing compressor stations (in PA), and build a brand new compressor station in West Milford (Passaic County, NJ), just across the border and not far from Westchester County (see FERC Issues Compressor Permits for TGP’s East 300 Upgrade in NY, NJ). The odious (and misnamed) Food & Water Watch (FWW), a far-left, very radical group, challenged FERC’s approval of East 300 with the U.S. Court of Appeals for the District of Columbia (see Food & Water Watch Sues FERC to Block KM Pipe Expansion to NYC). The D.C. Circuit ruled against FWW on Friday.
Read More “DC Circuit Rules Against FWW in KM Pipeline Expansion to NYC”
MDN told you the bottom had dropped out of the rig count two weeks ago (see Baker Hughes U.S. Rig Count Loses 6 @ 594, M-U Drops 2 @ 36). Last week, the drop continued to deepen. We call it free fallin’. The national combined oil and gas rig count dropped by another four to 590, the lowest it has been since January 2022. The Marcellus/Utica, after losing two rigs two weeks ago, maintained the same count last week. Pennsylvania continued to operate 21 rigs. Ohio remained steady with ten active rigs. And West Virginia kept five active rigs. One year ago this week, WV operated 12 active rigs. How the mighty have fallen.
Read More “Ongoing Rig Count Disaster: U.S. Loses 4 @ 590, M-U Even @ 36”
Last Friday, MDN told you about a problem brewing that will block new hydrogen projects from getting built in the Marcellus/Utica (see Biden IRS 45V Tax Rule Endangers Hydrogen Hub Projects in M-U). It’s an obscure tax rule known as the 45V tax credit, part of the misnamed Inflation Reduction Act (IRA). The Bidenistas at the White House, Treasury Department, and Dept. of Energy proposed a new IRS rule in late December that the 45V tax credits (as provided for in the IRA) can only be used if the hydrogen produced is “green” — meaning NOT made from natural gas. In addition, the electricity used to produce the hydrogen can’t come from fossil fuel sources like natural gas (if you want the tax credit). Biden kneecapped the hydrogen hub projects in the M-U (see Biden’s Proposed IRA 45V Tax Credit “Kneecaps” ARCH2 Hydrogen Hub). Normally the obsequious Bob Casey, U.S. Senator from Pennsylvania (Democrat), wouldn’t mind screwing his own state’s fossil energy industry via the 45V tax credit. But this is an election year…
Read More “Desperate Bob Casey’s Letter Campaign to Revise 45V Tax Credit”
One month ago, MDN told you that although the New York Senate had passed a bill already passed by the Assembly to ban the use of carbon dioxide in shale drilling (so-called “CO2 fracking”), Democrat Gov. Kathy Hochul, a reliable anti-fossil fueler, had still not signed the bill into law (see 2 Mo. After NY Legislature Passed CO2 Frack Ban, Gov Hasn’t Signed). It’s now three months after the bill passed and the annual legislative session closed on June 6th — and the frack ban bill STILL has not been signed by Hochul. Why?
Read More “3 Mo. After NY Legislature Passed CO2 Frack Ban, Gov Has Not Signed”
Natural gas development in the Marcellus/Utica continues to get cleaner year after year. Updated data shows our region’s natgas producers reduced methane intensity by nearly 17% in a single year. That’s according to a report co-authored by the Clean Air Task Force (CATF), an anti-fossil fuel organization. The CATF and Ceres (an anti-capitalist organization) recently released its fourth annual 2024 Benchmarking Methane and Other Greenhouse Gas Emissions report.
Read More “Report by Antis Shows M-U has Lowest Methane Intensity of All Shales”
UN Secretary-General António Guterres fancies himself dictator of the world. He’s drunk on his own power. Guterres, who has criticized fossil energy for years, now says all advertising that favors oil and natural gas should be banned worldwide. No free speech should be allowed for O&G to defend itself or point out that the miracle of modern-day life is not possible without fossil energy. Nope. It all should be banned right now. We say tell Guterres where he can stick his advertising ban…
Read More “United Nations Chief Wants to Ban Oil & Gas Advertising Worldwide”
OTHER U.S. REGIONS: A preview on some of the New York energy impossibility; NATIONAL: Midstream an overlooked beneficiary of the AI boom; Biden mandates heat pump water heaters, contractors report probs; INTERNATIONAL: Will the world have a staggering excess of oil by 2030?
Read More “Other Stories of Interest: Mon, Jun 17, 2024”
Two weeks ago, 31 new permits were issued to drill in the Marcellus/Utica region. Last week, June 3 – 9, the number dropped (dramatically) by 77% to just seven new permits. And that seems to be the pattern: Way up one week, way down the next. Last week, for the second week in a row, Ohio issued ZERO new shale permits. The top permit receiver for last week was HG Energy, which had five permits for a single pad in Doddridge County, WV. The other two permits were issued in PA: one to CNX in Greene County, and the other to Range Resources in Washington County.
Read More “7 New Shale Well Permits Issued for PA-OH-WV Jun 3 – 9”
Kentucky is not known as a hotbed of shale drilling activity. The Marcellus/Utica does not extend under the Bluegrass State. However, as we wrote about back in 2017, Kentucky does have the Berea Sandstone, which contains oil deposits (see Fracking Comes to Kentucky – Encore Drills First Horizontal Oil Wells). In 2017, we brought you the news that Encore Energy, headquartered in Bowling Green, was just beginning to drill shale wells looking to extract oil from the Berea. Fast forward to today, and over 100 horizontal wells are permitted, drilled, and/or producing in the Berea in Lawrence County. Encore issued a press release yesterday saying it has just turned another three Berea wells online to sales and is drilling three more.
Read More “Encore Energy Adds 3 KY Horizontal Wells to Sales, Drilling 3 More”
In a clear case of sour grapes for the U.S. Court of Appeals for the Fourth Circuit (4th Circus clowns) who tried to block the 303-mile Mountain Valley Pipeline (MVP) by rendering arbitrary decisions that caused years of delays for the pipeline, the court flipped the bird to MVP one last time in a decision issued Tuesday of this week (June 11). Three judges from the 4th Circus re-inflated a jury award against MVP for an eminent domain “taking” case in the Bent Mountain, Virginia, area back in May (see 4th Circus Clowns Punish MVP One Last Time via Eminent Domain Case). MVP appealed to the full 4th Circuit to have all judges re-hear the case, called en banc. On Tuesday, the full court refused, allowing the “screw you” decision by the three loser clowns to stand.
Read More “4th Circus’ Final “Screw You” to MVP in Va. Eminent Domain Case”
For months, MDN has told you about a problem brewing that will block new hydrogen projects from getting built in the Marcellus/Utica. It’s an obscure tax rule known as the 45V tax credit, part of the misnamed Inflation Reduction Act (IRA). The Bidenistas at the White House, Treasury Department, and Dept. of Energy proposed a new IRS rule in late December that the 45V tax credits (as provided for in the IRA) can only be used if the hydrogen produced is “green” — meaning NOT made from natural gas. In addition, the electricity used to produce the hydrogen can’t come from fossil fuel sources like natural gas (if you want the tax credit). Biden kneecapped the hydrogen hub projects in the M-U (see Biden’s Proposed IRA 45V Tax Credit “Kneecaps” ARCH2 Hydrogen Hub).
Read More “Biden IRS 45V Tax Rule Endangers Hydrogen Hub Projects in M-U”
A new bill proposed by two Republican state lawmakers in Ohio, House Bill (HB) 349, makes it easier to site and build natural gas pipelines to areas of the state where pipelines currently don’t exist (see Ohio Bill Encourages New NatGas Pipelines to Spread Across State). The bill will stimulate new jobs by running pipelines to industrial parks and businesses not currently serviced by natgas. The aim is to stimulate new jobs and opportunities in the Buckeye State, a smart strategy. Good news: HR 349 was just passed by and reported out of the Ohio House Economic and Workforce Development Committee and will be voted on by the full House.
Read More “Ohio Bill to Encourage New NatGas Pipelines Passes Committee Vote”
In early March, President Joe Biden nominated three new candidates to become Federal Energy Regulatory Commission (FERC) commissioners (see Biden Announces 3 New FERC Commissioner Nominees, Finally). The three, two Democrats and one Republican, faced questions from the Senate Energy & Natural Resources Committee in a hearing held a few weeks later (see 3 FERC Nominees on the Hot Seat at Senate Hearing, No Fireworks). Last week, the Senate Energy and Natural Resources Committee overseeing their nominations and appointments voted to advance all three to a full floor vote (see U.S. Senate Energy Committee Approves 3 Biden FERC Nominees). The full vote happened this week, and all three were confirmed.
Read More “Senate Confirms 3 New FERC Commissioners; Less Support for Dems”
OTHER U.S. REGIONS: NextDecade, Saudi Aramco sign 20-year LNG supply deal; You paid hundreds of millions for solar power to wreck the environment; NATIONAL: Should oil and gas pros use AI to get hired?; Revisiting the Left’s Keystone XL lie; Biden will pay an electoral price for choking US energy; ‘You are evil,’ GOP lawmaker barks at climate-conscious investors; INTERNATIONAL: Canada has room for multiple LNG projects; Europe’s gas supply risks remain despite record storage levels.
Read More “Other Stories of Interest: Fri, Jun 14, 2024”