BP Dumps Annual Statistical Review – Energy Institute New Publisher
Looks like the rumors were true. Last December, we told you that oil giant BP (formerly British Petroleum) was considering axing its annual Statistical Review of World Energy publication, which the company has published since 1952. Why stop publishing it? Because being honest about the data was exposing the so-called transition to green energy as the hoax that it is (see BP Considers Axing Statistical Review – It Makes Greens Look Bad). BP, a European company, has (sadly) become politically correct and unable to speak the truth–at least in public. That truth is that oil and gas have been and will continue to be the dominant source of energy in the world for generations to come. So the company wanted to dump the publication. BP has found an “independent” third party to continue publishing it–The Energy Institute.
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Consulting giant Deloitte’s new report “Oil and Gas M&A Outlook 2023: Pivoting for Change” examines the shift in the industry and the strategic pivots expected to shape the future. The report says so-called “clean energy” is now a “substantial driver” of mergers and acquisitions (M&A) in the oil and gas industry and signals big changes in the M&A playbook.
MARCELLUS/UTICA REGION: “Made in America” to “Made in Appalachia”; NATIONAL: Cummins shows off X15N natural gas, X10 diesel engines; INTERNATIONAL: BofA Global Research reveals latest oil price forecasts; European natgas prices post longest monthly losing streak since 2020; Enel head raises doubts about Europe’s ability to end energy ties with Russia; Gazprom’s daily gas exports to Europe rise 16% in February.
Competitive Power Ventures (CPV) currently operates a gas-fired power plant in the Keasbey section of Woodbridge, NJ. The plant currently generates power for about 700,000 homes. In 2018, CPV proposed adding a second power plant at the same location (see 
It’s full speed ahead in the U.S. House of Representatives, now controlled (thank God!) by Republicans. Today and tomorrow, three different House committees will hold hearings and markups on 20 distinct measures related to energy and permitting reform. The permitting reform measures, in particular, may help save the Mountain Valley Pipeline (MVP) project in the Marcellus/Utica region.
With liberal leftist Democrats like NY Gov. Kathy Hochul, popular opinion only matters during an election year, when getting elected (or reelected). After that, Dems like Hochul govern any darned well way they please. It doesn’t matter if a majority of the state’s residents oppose her cockamamie, screwed-up plans to commit energy suicide by banning natural gas across the entire state. She’s moving forward full-speed ahead with her energy suicide plan anyway.
The rumor mill kicked into overdrive on Friday when Bloomberg published an article saying Pioneer Natural Resources Co., one the largest independent oil producers in the U.S., is considering (negotiating for) an acquisition of Marcellus driller Range Resources Corp., according to “people familiar with the matter.” Range was the very first company to drill a Marcellus shale well back in 2004 in western Pennsylvania. By the end of Friday, Pioneer issued an abrupt statement saying it “is not contemplating a significant business combination or other acquisition transaction.” It wasn’t an outright denial that such talks are taking place. Range could not be reached for comment.
Southwestern Energy used to be a pure-play Marcellus/Utica driller until it picked up leases and wells in the Louisiana Haynesville play in 2021. Last Friday, the company issued its fourth quarter and full-year 2022 update. The update shows Southwestern now gives more love (i.e., money) to Haynesville drilling than it does to Marcellus/Utica drilling, even though the M-U produces more gas than the company’s Haynesville assets.
Isn’t it typical for Democrats to try and use a crisis that has nothing whatsoever to do with shale and natural gas to block shale and natural gas? Seven members of Pennsylvania’s Congressional delegation, every single one of them a Democrat, sent a letter (copy below) to another Democrat, Secretary of Transportation Pete Buttigieg (an incompetent nincompoop), asking him to permanently delete a rule adopted during the Trump administration that allows LNG to be safely transported by special rail cars. The reason cited for banning LNG by rail? The train derailment in East Palestine, Ohio–an event that has nothing whatsoever to do with shale energy.
The Sabine Pass LNG terminal, owned and operated by Cheniere Energy, is spread over an 853-acre site in Cameron Parish, Louisiana. The facility is the largest receiving and regasifying terminal in the world with a total send-out capacity of 4 Bcf/d (billion cubic feet per day) and a storage capacity of 16.8 Bcf. The “nameplate” capacity of the facility with six trains operating is roughly 30 mtpa (million tons per annum). Last Thursday, Cheniere announced it has pre-filed to expand its Sabine Pass operation significantly, by another 66% to around 50 mtpa. This is good news for the Marcellus/Utica.