Will New Biden EPA Methane Rule Kill Responsible Gas Certifications?
EPA Administrator Michael Regan used a considerable amount of fossil energy and emitted billows of carbon dioxide to jet over to Dubai to participate in the COP28 confab where he released a final rule that was “two years in the making” to force the U.S. oil and gas industry to cut methane emissions by using budget-busting new technologies and onerous (frequent) inspections (see Bidenistas Unleash Hellscape of U.S. Methane Regs at COP28). Here’s a question: If the feds require every producer to phase out flaring, install new equipment, and meet new, aggressive standards for emissions monitoring and leak detection and repair, will there still be a need for entities like MiQ, Equitable Origin, and Project Canary (which together certify most M-U production) to score or assess the lower-emissions natural gas produced by E&Ps?
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MARCELLUS/UTICA REGION: Look at the evidence; OTHER U.S. REGIONS: Chevron slashes Calif. spending on ‘adversarial’ fossil fuel policies; NATIONAL: Biden govt sets only three fossil fuel leases for 2024–29; America was in a better position when Trump was president; Democrats revolt against Biden plan for expanded gas exports; INTERNATIONAL: US frackers return to haunt OPEC’s pricing strategy; SNB told to end fracking investment in petition signed by 60,000.
New shale permits issued for Dec 4 – 10 in the Marcellus/Utica were up by 2 over the previous week. There were 27 new permits issued last week versus 25 issued two weeks ago. However, there was a major surprise! Last week’s permit tally included 8 new permits in Pennsylvania, 9 new permits in Ohio, and 10 new permits in West Virginia. The pattern is typically the opposite, with PA receiving the most permits and WV the least. The company receiving the most permits last week was EQT Corporation, with all 10 of WV’s permits all on the same well pad in Marion County.
The Ohio Dept. of Natural Resources (ODNR) “temporarily” suspended the operations of four fracking waste injection wells in Athens County in September (see 
Yesterday, representatives from Tenaska gave a presentation to the Hancock County (WV) Commission detailing the company’s plans to drill carbon dioxide (CO2) injection wells in West Virginia, Ohio, and Pennsylvania. The company anticipates drilling seven CO2 injection wells/sites in WV, 12 wells/sites in OH, and three wells/sites in PA. Tenaska has established an office in Weirton, WV, as it works toward establishing its carbon capture and sequestration (CCS) process in the region. It hopes to have wells operations by 2027.
Earlier this week MDN told you that two of Gulfport Energy’s major investors were conducting a sale of what amounts to 3.5% of the company’s stock (see 
EPA Administrator Michael Regan used a considerable amount of fossil energy and emitted billows of carbon dioxide to jet over to Dubai to participate in the COP28 confab. At that event, Regan released his agency’s latest attempt to illegally regulate the oil and gas industry (see 
Freeport LNG’s export terminal with three liquefaction “trains” shut down in June 2022 after an explosion and fire (see 
S&P Global Commodity Insights, one of the biggest and best in the energy information business, issued its annual Energy Outlook for 2024 yesterday. It’s an interesting read. S&P analysts say “uneven balances and OPEC+ resolve to remain key risks to markets,” and “coal, gasoline entering peak demand years.” Yep, the mighty S&P has bought into the “peak” theory (which has been wrong every single time it’s been announced). It would be fun to revisit some of the predictions a year from now, including the prediction that worldwide coal demand will decrease in 2024 and that 20% of all cars sold in 2024 will be electric. Color us skeptical.
Reuters is reporting a rumor, based on “people familiar with the matter,” that EQT Corporation, the largest natural gas driller in the United States (by production), is shopping its 25% non-operated interest in a number of producing gas wells in northeastern Pennsylvania for $3 billion. Chesapeake Energy is the majority owner and operator of the wells.
Pennsylvania assesses an impact fee (PA’s version of a severance tax) on shale drillers, raising revenues that are paid to local municipalities and to the black hole of Harrisburg politicians. Yesterday, the PA Independent Fiscal Office (IFO) issued an estimate for how much the impact tax will raise this year, to be distributed next year. The IFO says it thinks, based on the price of low natural gas and number of new and existing wells, that PA will generate $174.0 million from the impact tax in 2023, a decrease of $104.8 million (38%) from 2022. What the heck happened?
Earlier this week, Pennsylvania State Senator Katie Muth, a virulent anti-shale hater from the Philadelphia suburbs, held a press conference with a so-called investigative reporter from the Public Herald and two former employees from the Eureka Resources’ Williamsport frack wastewater treatment facility. The employees and reporter leveled some extremely serious accusations about the safety and working conditions at the facility. Exposure to toxic substances and even to low-level radiation is alleged. Four former workers sent a letter to the Lycoming County District Attorney asking him to launch a criminal misconduct investigation.
Once a month, 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. Last month, the report predicted the price for Henry Hub natural gas futures would average $3.40 this winter (see 