House Speaker Kevin McCarthy Tours Encino Utica Well Pad in Ohio
Yesterday U.S. House of Representatives Speaker Kevin McCarthy, who is in Ohio for several days, toured Encino Energy’s Sanor Farm Well Pad near Damascus (Columbiana County), where Encino is drilling four Utica wells. McCarthy said this: “We just don’t want to be energy independent, we want to be dominant.” Love it! This is a home run by McCarthy, showing up to support shale energy in the Ohio Utica.
Read More “House Speaker Kevin McCarthy Tours Encino Utica Well Pad in Ohio”
Here’s the sad end of a sad chapter in Ohio’s history–the conclusion to the largest bribery scandal in the state’s history. We’re referring to Ohio House Bill (HB) 6, a law granting billions (plural) of dollars to FirstEnergy to prop up the company’s economically failing nuclear power plants. FirstEnergy bribed state legislators to pass, and keep passed, HB 6 by paying out $61 million to a small group of insiders, including former Speaker of the House Larry Householder (see 
In January 2016, Invenergy announced its intention to build a natural gas-powered electric plant in Elizabeth Township, in Allegheny County, PA (see 
The left is insidious–and relentless. They thought they had a winning issue with so-called ESG, or 
We keep a close eye out for any credible news predicting which way the price of natural gas will head in the near and longer term. Everyone has an opinion about whether natgas will go higher, go lower, or stay the same–and why. Nobody could predict what would happen last year after Vladimir Putin declared war and invaded Ukraine. Gas prices when through the roof (along with oil prices) on the theory that Europe would run out of gas and the rest of the world, including the U.S., couldn’t meet the shortfall. But then we had a mild winter–in Europe and here at home. The world exited winter with extra gas sitting in storage. More supply with the same (or less) demand equals lower prices. And that’s exactly where we have been for months–lower prices. What about this summer? Will the price increase? Decrease? Stay the same?
New shale permits issued for Jun 19-25 in the Marcellus/Utica took another nosedive. There were 11 new permits issued last week, down from 21 the previous week. There’s just no denying that the trend in permits is generally down. Last week’s permit tally included 6 new permits in Pennsylvania, 2 new permits in Ohio (both permits in the Marcellus layer!), and 3 new permits in West Virginia. Olympus Energy scored the most new permits, with 4 issued in Allegheny County, PA. Southwestern Energy had the second most new permits, with 3 permits issued in Marshall County, WV.
MARCELLUS/UTICA REGION: Is DEP name change threat to Democrats?; NATIONAL: Berkshire raises shares in Occidental to over 224MM; Executives predict where WTI oil price will end up in 2023; Majority of Americans oppose plans to eradicate natgas from buildings.
Finally! On Monday, Mountain Valley Pipeline (MVP) builder Equitrans asked the Federal Energy Regulatory Commission (FERC) for permission to restart all remaining construction to install the final 6% of MVP in West Virginia and Virginia. Yesterday, FERC issued that permission. Ladies and gentlemen, start your bulldozers! Company spokeswoman Natalie Cox said crews will begin work “shortly” on all remaining construction. We don’t know what shortly means, but we hope it means this week.
In 2021, U.S. District Judge Lee H. Rosenthal, Chief Judge for the Southern District of Texas, approved deals for Chesapeake Energy to pay $6.25 million to class members of the three royalty lawsuits brought by Pennsylvania landowners (roughly 15,000 class members) and another $2.9 million to the lawyers involved (see 
In the early days of the shale revolution, Marcellus/Utica drillers (all shale drillers) were incentivized by shareholders to drill at any cost. The philosophy was “drill baby drill,” believing pipelines would somehow get built to handle the increasing production volume. Over the past three years or so, since about the time the pandemic began, things have changed. Instead of “drill baby drill,” the rallying cry is now “curtail volumes,” “delay completions,” and “game-time decisions.” M-U producers have learned to “walk the line” of matching production with local demand, storage, and firm pipeline capacity.
One of the biggest complaints from drillers and pipeline companies doing business with the Pennsylvania Dept. of Environmental Protection (DEP), going back for years, is the lack of speed when reviewing and approving new permits. In particular, Chapter 102 (erosion and sediment control) and Chapter 105 (water obstructions and encroachments) permits. At a budget hearing in Harrisburg in March, then-Acting (now confirmed) DEP Sec. Rich Negrin presented a 10-point plan to improve the DEP’s response times in issuing permits (see 
Epsilon Energy concentrates most of its effort on developing Marcellus Shale wells in Susquehanna County, PA. Epsilon typically does not do its own drilling. The company joint venture partners with (gives money to) other companies, like Chesapeake Energy, and the other company typically does the drilling. Epsilon is the smallest publicly-traded company operating in the Marcellus/Utica (we think). Yesterday, Epsilon announced a new $35 million line of credit from Frost Bank, which replaces its previous line of credit.
The Voluntary Carbon Market Integrity Initiative (VCMI), formed with funding by some of the biggest funders of Big Green causes, has officiously announced the publication of a new “Claims Code of Practice” that private companies WILL adopt–or be forced out of business. The Code of Practice is aimed at forcing companies to stop using anything to do with fossil fuels, on the theory it will Save the Planet. Companies can disregard the Code of Practice (a supposedly voluntary standard) at their own peril. If you don’t hew to VCMI’s standards, you WILL be targeted.