MARCELLUS/UTICA REGION: Impact of obstacles to gas production frustrating; NATIONAL: Former Williams CEO Joseph H. Williams dies at 89; Orbiting methane ‘speed cameras’ are catching polluters in the act; Green inflation and the end of capitalism; INTERNATIONAL: Japan’s JERA sees more LNG going to Asia as domestic demand shrinks.
Read More “Other Stories of Interest: Mon, May 1, 2023”
EQT Corporation, the largest natural gas producer in the U.S., issued its first quarter 2023 update yesterday. The company reported a profit of $1.2 billion in net income during 1Q23 versus losing $1.5 billion in the same quarter a year ago. That’s nearly a $3 billion swing in one year! The company generated $774 million in free cash flow in 1Q. Production was 459 Bcfe (billion cubic feet equivalent) for the quarter, which works out to be 5.1 Bcfe/d, down 7% from last year’s 1Q, which was 492 Bcfe (or 5.47 Bcfe/d).
Read More “EQT 1Q – Tug Hill on Track, Rice a Fan of “Electrify the World””
Yesterday Antero Resources, which is 100% focused on the Marcellus/Utica with over 500,000 net acres under lease (and the largest M-U driller in West Virginia), issued its first quarter 2023 update. The company reports net production averaged 3.3 billion cubic feet equivalent per day (Bcfe/d), an increase of 3% year-over-year. Of that production, liquids (NGLs) averaged 187 thousand barrels per day (MBbl/d), an increase of 17% from the year-ago period. Natural gas production averaged 2.2 Bcf/d, a decline of 3% from the year-ago period.
Read More “Antero 1Q – New World Record for Lateral Feet Drilled in 24 Hours”
The war of words continues. Two days ago, MDN told you that the liberal owner of two hotels in California, Jon Handerly, who happens to own a few thousand shares of CNX Resources stock, wants shareholders to approve his cockamamie proposal to force the company to produce an annual report detailing the company’s “efforts” to comply with the nonsensical “Paris Agreement” to reduce so-called greenhouse gas emissions (see Calif. Hotel Liberal Pressures CNX to Report on Loony Paris Goals). CNX CEO Nick DeIuliis is against the proposal and is going very public with his views that the proposal is “spam-like in nature.”
Read More “CNX CEO Calls Lib California Hotel Shareholder Proposal “Spam-Like””
You’ve gotta give Pennsylvania State Senator Gene Yaw credit–he sure knows how to get under the skin of the wackadoodle left! Yaw is the Majority Chairman of the Senate Environmental Resources and Energy Committee. His committee oversees (among other things) the state Dept. of Environmental Protection (DEP), which is the state agency that oversees energy industries, including shale drilling. Yesterday Yaw tweaked the left by announcing he will soon introduce a bill to remove the word “Protection” from the DEP’s name, and replace it with…
Read More “PA Sen. Gene Yaw Proposes to Rename State DEP, Drop “Protection””
Although the Bidenistas are now in control of the formerly objective U.S. Energy Information Administration (EIA) and try to hide the truth about fossil energy, the truth has a way of coming out. In March, we told you about the latest edition of the EIA’s Annual Energy Outlook for 2023 (see EIA Annual Outlook Predicts O&G, M-U Still Going Strong in 2050). While the information was somewhat buried in the AEO23, if you sifted through the report, you came to the conclusion that fossil energy will still be going strong 30 years from now. In a follow-on post about that report issued yesterday, the EIA admitted in a Today in Energy post that, “U.S. natural gas production and LNG exports will likely grow through 2050.” That had to be a painful headline for a Bidenista to write.
Read More “US NatGas Production, LNG Exports Keep Growing Thru 2050 & Beyond”
New shale permits issued for Apr. 17-23 in the Marcellus/Utica picked up five from the prior week. There were 25 new permits issued in total last week, up from 20 in the prior week. Last week’s tally included 21 new permits for Pennsylvania, 2 new permits for Ohio, and 2 new permits in West Virginia. Last week the top receiver of new permits was Range Resources with 7 permits issued in Washington County, PA. Greylock Energy was number two with 6 new permits issued in Greene County, PA.
Read More “25 New Shale Well Permits Issued for PA-OH-WV Apr 17-23”
As we have said many times, if we could have anyone else’s brain but our own, it would be Tom Shepstone’s. He is brilliant. Tom wrote a post on his Natural Gas Now website yesterday that is a MUST-READ for everyone. It perfectly encapsulates our philosophy. Tom’s post was nominally (on the surface) about the recent kerfuffle surrounding Tucker Carlson and his “parting ways” with (i.e., firing from) Fox News. What, you may ask, does that have to do with natural gas? It has *everything* to do with natural gas and the “sandstorm of lies” we find ourselves in, fighting the collusion of the left and corporatists trying to end the use of natural gas.
Read More “The Whole Truth – About Tucker Carlson and Natural Gas”
The most recent day of active trading was Thu., Apr. 27, 2023. The numbers below reflect yesterday’s closing numbers.
MARCELLUS/UTICA REGION: Pennsylvania’s energy future, hidden behind a locked door; OTHER U.S. REGIONS: Venture Global 20-year LNG sales & purchase agreement for CP2; US natural gas gets a boost with FERC ruling on Rio Grande LNG; NATIONAL: OFS giants post sparking set of results; Natural-gas producers aren’t letting up; Federal incentives, rising demand spur a slew of clean ammonia projects.
Read More “Other Stories of Interest: Fri, Apr 28, 2023”
Air monitors at Shell’s ethane cracker plant detected elevated levels of benzene (which can cause cancer in humans) following an April 11 malfunction. However, an industrial hygienist told attendees at Tuesday night’s webinar session with local residents that the levels of benzene detected at the cracker’s community-adjacent fenceline during and after the release were too low to cause “even transient discomfort or irritation.” The highest concentrations found outside the fenceline were “in the parts per billion range.”
Read More “Air Monitors Detect Benzene at Fenceline of Shell Cracker in Monaca”
The rumors have been swirling for weeks that West Virginia Gov. Jim Justice will run for the U.S. Senate office now occupied by traitor Joe Manchin–the guy who sold out and voted for Biden’s Green New Deal boondoggle, laughably renamed the Inflation Reduction Act (see Tragedy: Joe Manchin Caves & Agrees to Big Green Build Back Better). Manchin sold out WV voters, and he sold out the nation. Manchin must now pay the price by losing his seat in the 2024 election. This afternoon Gov. Jim Justice is set to announce he will run to do just that.
Read More “WV Gov. Jim Justice to Announce Senate Run Against Joe Manchin”
The U.S. Energy Information Administration (EIA) says less natural gas was withdrawn from storage this past winter (Nov. 1 through Mar. 31) than in the past seven years. We entered the heating season with about 3% less natural gas in storage than the average, but because of mild temps during the winter, we used far less than is typical during the wintertime. Hence the low withdrawals.
Read More “This Winter’s NatGas Withdrawals from Storage Lowest in 7 Years”
Earlier this month, the U.S. Environmental Protection Agency (EPA) and National Highway Traffic Safety Administration (NHTSA) announced new proposed federal vehicle emissions standards that will force Americans to give up driving gasoline and diesel-powered vehicles and instead switch to electric vehicles (see Biden EPA Plan Forces People to Buy Expensive Electric Vehicles). The Biden EPA said the new standards will “accelerate the ongoing transition to a clean vehicles future and tackle the climate crisis.” The Bidenistas intentionally use inflammatory language, calling EVs “clean” vehicles, as opposed to fossil energy vehicles which, by inference, are “dirty.” They also claim the new standards will tackle the “climate crisis”–perpetuating an unproven theory that mankind is causing the earth to catastrophically warm. Seven major oil and gas associations from three states–Texas, Oklahoma, and Louisiana–have joined a lawsuit to fight this illegal move by the EPA and NHTSA.
Read More “7 O&G Associations Join Lawsuit Against EPA’s Forced EV Rule”
We spotted an article by a Bloomberg opinion columnist that says American shale energy is in a “midlife crisis.” The article pictures Big Oil (companies like Exxon and ConocoPhillips) as riding in on Harley Davidson motorcycles to save shale. It’s something of a twisted and mixed metaphor (old guys with money in a midlife crisis ride Harleys), but humorous nonetheless. The larger point of the article, which IS worth pondering, is whether or not the era of independent shale drillers is drawing to a close. The author offers evidence and analysis that such is the case–or should be.
Read More “Bloomberg: Shale in Midlife Crisis, Big Oil Rides in to Save Day”
When we saw the headline “Environmental Bootleggers and Baptists Fleece Consumers,” we just couldn’t resist. An article in RealClearEnergy written by Gordon Tomb, a Senior Fellow with the Commonwealth Foundation, a Pennsylvania-based free-market think tank, compares an interesting time in our history with what is happening today. Once upon a time, Baptists advocated for a ban on alcohol sales Sundays. They were supported by…Bootleggers! Take about strange bedfellows! Today, the Baptists are environmentalists who insist we must dump fossil energy in order to save the planet (definite religious overtones in the environmental movement). And the Bootleggers are…
Read More “Environmental “Baptists and Bootleggers” Seek to End Fossil Energy”
