Marcellus Drilling News

Anti-Drilling/Fossil Fuel | Industrywide Issues | Pipelines

Green Radicals Protesting MVP Rush Stage at POLITICO Event
May 19, 2023May 25, 2023

The Democrat Party has created a monster. They have brainwashed a considerable portion of their members to believe in the imminent toasting of Mom Earth by burning fossil fuels. Well into the second generation of mind-numbed robots, the issue is that many of these people are miseducated and have no sense of basic God-given (not man-given) human rights–like free speech. Example: The dunderheaded Jennifer Granholm, Secretary of Energy, was giving a talk at a Democrat POLITICO energy summit in the D.C. swamp yesterday. She was asked a question about Mountain Valley Pipeline. She simply mouthed support for it (and it was lukewarm support at best), and a couple of unhinged wackos rushed toward the stage screaming. Did they wet their pants and howl at the moon too?
Read More “Green Radicals Protesting MVP Rush Stage at POLITICO Event”
Anti-Drilling/Fossil Fuel | Energy Companies | Industrywide Issues | Pennsylvania | Seneca Resources | Tioga County (PA)

Antis Try to Block Seneca’s Right to Drill in Tioga State Forest
May 19, 2023May 25, 2023

In March, we warned you that a so-called environmental group flying under the name of Tioga County’s Pine Creek Headwaters Protection Group (PCHPG) is angling to block a new Seneca Resources well pad on Mt. Nessmuk on the company’s Tioga State Forest Lease #007 (see Enviro Group Objects to Well Pad Location in Tioga State Forest). Seneca has already developed two pads on their legally-purchased leasehold in the Tioga State Forest and wants to add a third.
Read More “Antis Try to Block Seneca’s Right to Drill in Tioga State Forest”
Commodity Price | Industrywide Issues

NYMEX Gas Price Leaps 9.6% to Close at 2-Month High of $2.59
May 19, 2023May 25, 2023

Yesterday the NYMEX Henry Hub futures price of natural gas spiked nearly 10% (9.6%)–in a single day. It closed at $2.592/MMBtu, the highest closing number since March 13, over two months ago. The main reason for the price spike is a new weekly gas storage number issued by the U.S. Energy Information Administration (EIA). The new gas added to storage was slightly lower than estimates predicted. The recent decline in the rig count last week (see U.S. Natural Gas Drilling Rig Count Craters, Down 10% in One Week), combined with less gas going into storage, prompted traders to bid up the price.
Read More “NYMEX Gas Price Leaps 9.6% to Close at 2-Month High of $2.59”
Electrical Generation | Industrywide Issues | Regulation

EPA Power Plant Rule Destabilizes the Grid, Ends Reliable Electric
May 19, 2023May 25, 2023

Last week the Bidenistas at the Environmental Protection Agency (EPA) released a hellscape of new regulations aimed at forcing coal- and natural gas-fired power plants to close (see New Biden EPA Regs a “Death Sentence” for Fossil-Fuel Power Plants). The Wall Street Journal called the new regs a “death sentence for fossil-fuel power plants.” The WSJ is keeping the heat on the Biden EPA. In a new article, the WSJ says the “proposed power-plant emission rule would destabilize the energy grid and end reliable electricity.”
Read More “EPA Power Plant Rule Destabilizes the Grid, Ends Reliable Electric”
Anti-Drilling/Fossil Fuel | Energy Companies | ESG | Exxon Mobil | Industrywide Issues

Exxon Says World Hitting Mythical “Net-Zero” by 2050 is Nonsense
May 19, 2023May 25, 2023

Finally, at least one Big Oil company is willing to go on the record countering the mass insanity of the left. The left wants humanity to kill itself in order to achieve mythical “net zero” (no extra carbon emissions) by 2050. Leftist lunatics have tried to brainwash the world that if we don’t hit net zero (which is impossible), that’s it. Lights out. The world toasts, and we burn ourselves to a cinder. There is no hope for the future. Which is complete nonsense. Exxon said as much in an official statement to shareholders in an SEC filing.
Read More “Exxon Says World Hitting Mythical “Net-Zero” by 2050 is Nonsense”
Antero Resources | CNX Resources | Columbiana County | Encino Energy | Energy Companies | EQT Corp | Fayette County | Greene County (PA) | Harrison County | Hilcorp Energy | Marshall County | Noble County | Ohio | Olympus/Huntley & Huntley | Pennsylvania | Repsol | Southwestern Energy | Tioga County (PA) | Tug Hill Operating | Weekly Permits | West Virginia | Westmoreland County | Wetzel County

26 New Shale Well Permits Issued for PA-OH-WV May 8-14
May 19, 2023May 25, 2023

New shale permits issued for May 8-14 in the Marcellus/Utica rose from the prior week. There were 26 new permits issued last week, up from 20 in the prior week (and 18 the week before that). Last week’s tally included 13 new permits for Pennsylvania, 10 new permits for Ohio, and 3 new permits in West Virginia. Last week the top receiver of new permits was CNX Resources, with 7 permits issued (5 of them in Westmoreland County, PA, and 2 in Greene County, PA). Encino Energy, showing up as EAP Ohio in the report, had the second-highest tally with 5 permits (issued in Harrison County, OH).
Read More “26 New Shale Well Permits Issued for PA-OH-WV May 8-14”
MUI

MDN Upstream Index (MUI) – May 19, 2023
May 19, 2023May 19, 2023

The most recent day of active trading was Thu., May 18, 2023. The numbers below reflect yesterday’s closing numbers.

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Best of the Rest

Other Stories of Interest: Fri, May 19, 2023
May 19, 2023May 25, 2023

OTHER U.S. REGIONS: Palo Alto bows to celebrity chef in about-face on natural gas ban; NATIONAL: GHG intensity of US oil significantly lower than most regions; Clash over force majeure in natgas master sale & purchase agreement.
Read More “Other Stories of Interest: Fri, May 19, 2023”
Economic Impact | Industrywide Issues | Jobs | Ohio | Pennsylvania | Research | Statewide OH | Statewide PA | Statewide WV | West Virginia

O&G Contributed $143B, 847K Jobs in PA, OH, WV Economies in 2021
May 18, 2023May 25, 2023

Every so often, the lying left will poke its head up and make the wild claim that the shale industry hasn’t done a darned thing for the jobs or economy in various states–like Pennsylvania, Ohio, and West Virginia (see Heinz Endowments Launches Another Fake ‘Report’ Bashing the M-U). They say, “All those claims of jobs created and economic benefits are just smoke and mirrors.” We say the environmental left is full of (expletive deleted). And we can prove it. Earlier this week, the American Petroleum Institute (API) released a massive new report compiled by PricewaterhouseCoopers (PwC) on the growing economic contributions of America’s natural gas and oil industry in all 50 states, including PA, OH, and WV, in 2021. For those three states (PA, OH, WV) in 2021, the O&G industry (largely shale) collectively contributed over $143 billion to state economies and supported more than 847,000 jobs! Stick that in your bong and smoke it, Big Green.
Read More “O&G Contributed $143B, 847K Jobs in PA, OH, WV Economies in 2021”
Economic Impact | Industrywide Issues | Jobs | Research

PwC Study: U.S. O&G Provided Nearly $2 Trillion in Benefits in 2021
May 18, 2023May 25, 2023

The American Petroleum Institute (API) earlier this week released a new report on the growing economic contributions of America’s natural gas and oil industry in all 50 states, including investment in America ranging from taxes and workforce wages paid to indirect and induced jobs in retail, manufacturing, agriculture, and other sectors throughout the energy supply chain. The study, commissioned by API and prepared by PricewaterhouseCoopers (PwC), showed that the O&G industry supported 10.8 million jobs and contributed nearly $1.8 trillion to the U.S. economy in 2021. We love the fossil fuel industry! And you should, too.
Read More “PwC Study: U.S. O&G Provided Nearly $2 Trillion in Benefits in 2021”
Industrywide Issues | Regulation | Statewide VA | Virginia

Virginia Utility Cos. Tell State Officials Methane Regs Not Needed
May 18, 2023May 25, 2023

Last year the Virginia legislature passed House Bill (HB) 558 (Senate Bill 565), which expands the definition of energy efficiency and conservation programs in Virginia. Among the provisions in the bill are enhanced leak detection and repair programs for natural gas utilities. Utilities can, among other things, build new infrastructure to capture methane from animal poop and landfills, with the right to pass along the cost to ratepayers (a provision that really rubbed the left wrong). However, it is the following provision in the bill that is now being hotly debated in the state: “The bill directs the Department of Environmental Quality to convene a stakeholder work group to determine the feasibility of setting a statewide methane reduction goal and plan.” In other words, craft new state regulations to control methane.
Read More “Virginia Utility Cos. Tell State Officials Methane Regs Not Needed”
Industrywide Issues | Pipelines | Regulation | Statewide WV | West Virginia

Say NO to ‘Permitting Reform’ that Does Not Include O&G Projects
May 18, 2023May 25, 2023

Ever notice how the left loves to stack the deck? Change the rules. Rig the game. Play unfair. That’s what’s happening with so-called “permitting reform” bouncing around the D.C. swamp right now. Sen. Joe Manchin (liberal Democrat from West Virginia) wants permitting reform that benefits both fossil energy projects (including the Mountain Valley Pipeline), and so-called renewable energy projects. But here’s what’s happening. The Bidenistas are nodding their heads, slapping Joe on the back, and voicing their support for his latest bill (see Joe Manchin Floats New “Save MVP” Permitting Bill, Biden Supports). But their strategy is to gut Manchin’s bill, or any proposed bill on permitting reform, purging the sections that would benefit fossil fuel projects. The Bidenistas want permitting reform that benefits renewables ONLY–not fossil energy. And they’re willing to lie, cheat, and do whatever it takes to pass a version of the bill they want, to rig the game in their favor.
Read More “Say NO to ‘Permitting Reform’ that Does Not Include O&G Projects”
Industrywide Issues | Research | Statewide WV | West Virginia

WVU Energy Institute Renames Itself – Going Woke?
May 18, 2023May 25, 2023

We have some disappointing news to share. It appears that one of the preeminent energy research organizations in the country, the West Virginia University Energy Institute, is going woke–steering into the quicksand of focusing on unreliable, “renewable” energy. Yesterday WVU announced that the WVU Energy Institute is changing its name to WVU Institute for Sustainability and Energy Research, effective July 1st. It’s also getting a new director–Sam Taylor–whose research expertise is “geothermal, hydrogen storage and carbon dioxide storage, transportation energy utilization, renewable and nonrenewable energy research, clean energy and advanced energy technologies.” There isn’t a single mention of shale or fossil energy in the entire WVU press release.
Read More “WVU Energy Institute Renames Itself – Going Woke?”
Electrical Generation | Industrywide Issues | Michigan

Michigan Gas-Fired Plant Shuts Down Due to Noise, Vibration
May 18, 2023May 25, 2023

Over 20 years ago, Indeck Energy floated a plan to build an electric generating plant (powered by natural gas) in Niles, Michigan, near Chicago. In 2016, those plans got serious (see $1B Electric Plant Planned Near Chicago, M-U Connection?). Indeck held an official groundbreaking ceremony in September 2019 (see Delayed Michigan Gas-Fired Plant Finally Begins Construction), and in September 2021, the plant began to generate electricity (see Michigan Gas-Fired Plant Finally Begins Producing Electricity). This week, the plant shut down, temporarily.
Read More “Michigan Gas-Fired Plant Shuts Down Due to Noise, Vibration”
Industrywide Issues | NGLs | Research

US Propane Consumption for Winter 2022-23 Lowest Since 2010
May 18, 2023May 25, 2023

As we explained a few weeks ago, balancing supply and demand in the propane market is challenging (see Crude & NatGas Drilling Slowing, Which Affects Propane Supplies). The problem/issue with propane (or ethane, or butane, really any NGL) is that propane and other NGLs are derivatives of oil and gas drilling. Nobody sinks a hole in the ground explicitly trying to extract propane. It comes out of the ground along with oil and natural gas. To accurately guess the coming supply of propane, one has to monitor whether oil and gas drilling is going up or down. And then there’s the demand side…
Read More “US Propane Consumption for Winter 2022-23 Lowest Since 2010”
MUI

MDN Upstream Index (MUI) – May 18, 2023
May 18, 2023May 18, 2023

The most recent day of active trading was Wed., May 17, 2023. The numbers below reflect yesterday’s closing numbers.

Read More “MDN Upstream Index (MUI) – May 18, 2023”