Yes, we’ve noticed. The Henry Hub NYMEX futures price for natural gas soared yesterday. It has been on an upward trend for the last six trading days in a row. Yesterday, the NYMEX price jumped $0.21 (6.6%) to close at $3.19 per MMBtu. Spot (physical) prices have also moved higher. What’s causing it? And will the futures price now stay above $3?
Read More “Coming Storms, Cold Snap Prompts NatGas to Close Higher, Now Over $3”
Last October, MDN told you that American Energy Partners, Inc. (AEPT), based in Allentown, PA, with its fingers in several different pies, including subsidiaries in drilling, remediation, water, and more, changed its name to American Environmental Partners, Inc. (see American Energy Partners Changes Name, Swaps Enviro. for Energy). A few days later, MDN exclusively broke the news that American Environmental Partners would merge with a hospital supply chain company called SCWorx, a company that has nothing whatever to do with shale energy (see American Energy Announces Reverse Merger w/Hospital Supply Chain Co). Now comes word the merger will likely happen before the end of March (or maybe early April).
Read More “American Enviro. Reverse Merger w/Hospital Supply Chain Co Coming 1Q”
In October, Pennsylvania Secretary of the Dept. of Environmental Protection (DEP) Rich Negrin suddenly resigned after being on the job for less than a year (see PA DEP Sec. Negrin Resigning Dec. 8 – On Medical Leave Until Then). In his place, Jessica Shirley, who was named Deputy Secretary of the DEP earlier last year, became the Acting Secretary until a permanent replacement is named. Shirley updated the DEP Citizens Advisory Council yesterday about a variety of initiatives started by DEP Sec. Negrin. She said her vision for the department, building on Negrin’s, is to “move us into a more modern era.”
Read More “Interim PA DEP Sec. Updates Citizens Advisory Council on Priorities”
A press release out of Oslo, Norway, caught our attention. It was issued by Hexagon Agility, a business of Hexagon Composites. Hexagon said it had received an order from REV LNG for its TITAN Mobile Pipeline® modules — compressed natural gas (CNG) containers that get stacked on a trailer and hauled from point A to point B. REV LNG is a full-service supplier of liquid natural gas (LNG), compressed natural gas (CNG) and renewable natural gas (RNG) specializing in development, production, supply, transportation, and distribution solutions. REV is headquartered in Mendon, NY, with major operations in Ulysses, PA.
Read More “PA-Based REV LNG Orders CNG Containers from Norway’s Hexagon”
The Bidenistas are conducting a secret “review,” being led by the Department of Energy, to evaluate whether regulators should consider mythical “climate change” when deciding whether a proposed natural gas export project meets the national interest. It is a prelude to introducing new guidelines that will almost certainly block the approval of ANY new LNG export project. Yet another attack by the Bidenistas against fossil fuels in general and natural gas in particular. Surprised? We aren’t.
Read More “Bidenistas Look to Block Authorization of New LNG Export Projects”
The research arm of Enverus (formerly Drillinginfo), one of the most trusted, energy-dedicated SaaS platforms, offering real-time access to analytics, insights and benchmark cost and revenue data, has just released its 2024 Outlook that includes a series of reports discussing topics the organization believes will shape the energy sector this year. Enverus says, “With a tumultuous year behind us marked by escalating inflation and interest rates, the challenge of navigating the Inflation Reduction Act, and the outbreak of multiple wars, the energy industry is grappling with an atmosphere of deep uncertainty. Enverus has compiled these insights from its intelligence research division into one encompassing 2024 Outlook that includes Enverus Intelligence Research’s (EIR) key energy trends to watch.” Anything Enverus has to say is worth listening to.
Read More “Enverus 2024 Outlook: 10 O&G and 10 Energy Transition Predictions”
NATIONAL: BlackRock to lay off 3% of global workforce; The latest dirty word in corporate America: ESG; Natgas operational practices to enhance utility safety, sustainability; INTERNATIONAL: Record U.S. oil production sparks battle for market share with OPEC+.
Read More “Other Stories of Interest: Wed, Jan 10, 2024”
Yesterday, MDN told you that Constellation Energy, the owner and operator of the Everett LNG terminal, is actively trying to find new contracted customers so it can keep the import terminal open (see Boston LNG Import Terminal Still Looking for Customers to Stay Open). Today, we have another story about the Everett terminal and why it’s still needed. In December, and then again this past weekend, the Everett terminal received LNG shipments (two in total) from Trinidad.
Read More “Boston LNG Import Plant Gets 2 Deliveries from Trinidad, So Far”
Have you ever been around the kind of irritating person who says “No!” to everything? Someone who is perennially unhappy and loves to share that unhappiness with everyone around him or her? Someone who, when you offer valid solution after valid solution to a given “problem,” the person shoots each one down, unwilling to try anything? Such people are toxic. On an organizational level, we have a perfect example of such toxicness — the No False Solutions PA coalition.
Read More “PA Coalition Prefers Energy Poverty Over Real Climate Solutions”
Republicans control the Senate in Pennsylvania. Until last year, Republicans also controlled the House. Now, leftist Democrats control the PA House by a single seat. As narrow as the numbers are, the philosophical divide between the two parties and the two chambers with respect to environmental issues is a chasm. Republicans like Sen. Gene Yaw, Chairman of the Senate Environmental Resources & Energy Committee, are focused on safe and responsible energy development and grid reliability in 2024. On the other hand, Democrats, like Greg Vitali, Chairman of the House Environmental Resources & Energy Committee, are focused on the mythology of man-made global warming and blocking anything remotely connected to fossil fuels. It means there is little to no room for compromise on environmental issues.
Read More “The Deep Divide on Pa. Environmental Policy – Senate vs. House”
The Energy Workforce & Technology Council, located in Houston, TX, is a national trade association for the global energy technology and services sector, representing more than 650,000 U.S. jobs in the technology-driven energy value chain. The Energy Workforce Council works to advance member policy priorities and empower the energy workforce of the future. The Council closely tracks job numbers from the Bureau of Labor Statistics (BLS). Yesterday, the Council issued an update on O&G job numbers for December and for all of 2023. Interesting factoid: In December, the M-U industry employed 44,192 people.
Read More “U.S. O&G Jobs Slight Decline in December, but Up Overall in 2023”
We have a special treat for you today. One of our favorite Marcellus/Utica people is Nick Deiuliis, CEO of CNX Resources. Apart from the great work Nick does in leading CNX, he is also a writer and a thinker. He understands the political and philosophical issues related to energy like few others. And Nick isn’t afraid to “say it straight.” Last week, Nick released the first of three videos (embedded below) called “A Rational Thinker’s Guide to Climate Change and Related Policies.” In Part One of the “Rational Thinker’s Guide” trilogy, Nick argues that the most pressing issue of our time is the inept policies being pushed on society by the climate alarmist movement.
Read More “Nick Deiuliis: Rational Thinker’s Guide to Climate Change, Part 1”
After the climate crazies at the UN’s COP28 climate talks finally (after years of trying) rammed through language about “transitioning away from all fossil fuels,” energy intelligence group Wood Mackenzie ginned up ten predictions for the energy industry in 2024 based on the false premise of transitioning away from fossil energy. WoodMac’s predictions hint at a downturn in gas, LNG, and solar projects, and a rise in blue hydrogen, nuclear, and new developments in carbon capture technologies, along with some other forecasts for the year ahead.
Read More “WoodMac Predicts Many NatGas & LNG Projects to Get Frozen in 2024”
OTHER U.S. REGIONS: What has California’s war on fossil fuels actually accomplished?; NATIONAL: Consolidation trend expands to the gas compression services sector; US Supreme Court declines to hear Exxon, Koch Industries appeal; Natural gas futures stage turnaround to settle higher; INTERNATIONAL: OPEC+ reaffirms commitment to unity; 2024 won’t be any easier for energy investors.
Read More “Other Stories of Interest: Tue, Jan 9, 2024”
In mid-October, the rumor mill kicked into high gear with talk that Chesapeake Energy was sniffing around a merger with Southwestern Energy (see Chesapeake Energy Exploring a Merger with Southwestern Energy). Both Chesapeake and Southwestern have significant, long-time Marcellus assets (in Pennsylvania), and both have added new assets in the Louisiana Haynesville in recent years. They are on parallel tracks with their strategy of using Marcellus assets as a cash cow to fund more drilling in Haynesville, with an eye on grabbing higher prices in foreign markets by exporting Haynesville gas as LNG. It certainly makes sense that one company would be interested in combining with the other. Last Friday, the Wall Street Journal reported the two are very close to a deal — a deal that could be announced as early as this week.
Read More “Chesapeake & Southwestern Very Close to Announcing $17B Merger”
The 303-mile Mountain Valley Pipeline (MVP), which runs from Wetzel County, WV, to Pittsylvania County, VA, is nearly done, thanks to our recent warm weather. What’s left to do? Less than one mile of “upland” pipe to install, less than 50 water/wetland crossings, and just one more compression station to finish. According to Equitrans, the majority partner and builder of MVP, the pipeline will come online in March. Finally!!!!
Read More “Mountain Valley Pipeline Almost Done – Makes Good Time with Weather”