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Marcellus Drilling News
  • Industrywide Issues | Pennsylvania | Regulation | Statewide PA

    PA DEP Solicits Bids to Plug First 50 Orphaned Wells Using Fed $$

    September 20, 2022September 20, 2022

    Never believe that the government can do anything quickly–except destroy an economy. Nearly a year ago, President Biden signed into law the so-called Infrastructure bill, some $1.2 trillion in pork barrel spending, passed with the help of turncoat Republicans (see Biden So-Called $1.2T Infrastructure Bill Passes Thanks to RINOs). Only about 9% of that $1.2 trillion will go to actual infrastructure projects like roads and bridges. One of the line items in the bill (so small it’s a rounding error) is money to plug orphaned and abandoned oil and gas wells. The Pennsylvania Dept. of Environmental Protection (DEP) is finally about to use some of that money to plug 50 wells–out of an estimated 100,000+ such abandoned wells in the state. Now almost a year after the bill was signed into law.
    Read More “PA DEP Solicits Bids to Plug First 50 Orphaned Wells Using Fed $$”

  • Commodity Price | Industrywide Issues | Storage

    Natural Gas Shortage, High Prices Predicted for U.S. This Winter

    September 20, 2022September 20, 2022

    U.S. natural gas prices closed at a fresh six-week low of $7.75/MMBtu yesterday. The Wall Street Journal says the natural gas market has lost its bullish momentum due to a lack of hurricanes off the Texas coast. U.S. production has reached triple digits for the first time ever, topping 100 Bcf/d, as we reported yesterday (see U.S. Natural Gas Production in Lower 48 Hits 100 Bcf/d!). European natgas prices continue to drop too, sinking as much as 8.8% to their lowest level in nearly two months. And yet, we spotted a prediction that prices are about to spike again this winter–perhaps to their highest levels yet.
    Read More “Natural Gas Shortage, High Prices Predicted for U.S. This Winter”

  • Coterra Energy (Cabot O&G) | Energy Companies | Pennsylvania | Susquehanna County

    Coterra Energy Using $750M in Cash to Pay Down Notes/Debt

    September 20, 2022September 20, 2022

    In early August, MDN reported that Marcellus driller Coterra Energy had made $1.2 billion in profit during the second quarter of 2022 (see Coterra Makes $1.2B in 2Q, Pumps 2.8 Bcf/d NatGas, 3 Rigs in NEPA). The company cleared $1 billion in free cash flow for 2Q–an amazing number. Yesterday, Coterra announced what it would do with three-fourths of 2Q’s free cash flow. Coterra is buying back and retiring notes (debt) early.
    Read More “Coterra Energy Using $750M in Cash to Pay Down Notes/Debt”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Pennsylvania | Statewide PA

    Partisan “Clean Energy” Nonprofit Launches in PA to Bash Fossil Fuels

    September 20, 2022September 20, 2022

    A Democrat-led, partisan nonprofit calling itself Energy Future PA was launched yesterday. The anti-drilling former PA Auditor General, Eugene DePasquale (Democrat), is co-chair. The new group is also co-chaired by a RINO (Republican in Name Only)–former State Rep. Marguerite Quinn. Don’t get snookered by the fluffy platitudes from this organization. Make no mistake, Energy Future PA is partisan with a bent against shale energy.
    Read More “Partisan “Clean Energy” Nonprofit Launches in PA to Bash Fossil Fuels”

  • Housing | Industrywide Issues | Supply Chain

    EnerStar Solutions Expands Outside M-U, Buys Civeo Corp’s Well Biz

    September 20, 2022September 20, 2022

    EnerStar Solutions is a Canadian-based, privately-owned company providing goods and services to remote sites (i.e. drilling sites). The kinds of things EnerStar provides include accommodations, communications, power, lighting, and more. The company’s key areas of operation include the Marcellus/Utica, Permian, Delaware, and Bakken shale regions. EnerStar is growing. Yesterday the company announced it is buying Civeo Corporation’s U.S. wellsite service business for an undisclosed amount. Civeo is a global provider of hospitality services and workforce accommodations.
    Read More “EnerStar Solutions Expands Outside M-U, Buys Civeo Corp’s Well Biz”

  • CNG/LNG | Exporting | Industrywide Issues

    Next World Energy Crisis: Too Few LNG Cargo Ships Available

    September 20, 2022September 20, 2022

    A shortage in LNG (liquefied natural gas) carriers is causing prices to rent/hire those carriers to skyrocket, and the high price of the carriers is being called a new “threat” to world energy supplies. So says a new article by Bloomberg. Natural gas traders and ship owners are warning that the ship shortage threatens to impact Asian economies that import oil and gas from the U.S., as they may find it difficult to get spare cargoes on short notice if the weather turns extremely cold this winter.
    Read More “Next World Energy Crisis: Too Few LNG Cargo Ships Available”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues

    New Global Registry of Fossil Fuels Aims to Demonize Oil, Gas, Coal

    September 20, 2022September 20, 2022

    The left just never stops, never gives up in its quest to control EVERY aspect of your life. The gold ring, the pinnacle, is to control your energy sources. Hence the hoax of global warming, supposedly caused by mankind. A new “tool” concocted by the far-left Carbon Tracker organization, called the Global Registry of Fossil Fuels, will assist the left in further demonizing oil and gas (and coal) by modeling and “tracking” over 50,000 oil, gas, and coal fields in 89 countries. The tool allows the public to play with it and create their own fake nightmare scenarios of what will happen if fossil energy continues to be used at present levels. Scaring yourself has become high entertainment on the left. This registry would be laughable if not for the fact that respectable “news” organizations like the Associated Press are trumpeting this as some big breakthrough…
    Read More “New Global Registry of Fossil Fuels Aims to Demonize Oil, Gas, Coal”

  • Best of the Rest

    Other Stories of Interest: Tue, Sep 20, 2022

    September 20, 2022September 20, 2022

    MARCELLUS/UTICA REGION: ARC federal co-chair Gayle Manchin tours PA Wilds conservation shop; Vance challenges, Ryan defends record on energy policy; OTHER U.S. REGIONS: Texas oil and gas employment still rising; NATIONAL: Fitch Solutions discusses gas to oil switching; There’s no celebrating the Inflation Reduction Act; Why U.S. shale producers aren’t riding to the rescue; VC interest in postcombustion carbon removal soars; INTERNATIONAL: German utilities close to long-term LNG deals with Qatar.
    Read More “Other Stories of Interest: Tue, Sep 20, 2022”

  • Doddridge County | Electrical Generation | Industrywide Issues | Statewide WV | West Virginia

    CPV Announces Plans for Massive $3 Billion, 1,800 MW Gas-Fired Plant in WV

    September 19, 2022September 19, 2022
    Joe Manchin takes credit

    On Friday, Competitive Power Ventures (CPV) announced that it has selected West Virginia for a 1,800-megawatt, combined-cycle natural gas power station (using Marcellus/Utica gas) that also uses carbon capture and storage (required window dressing in this day and age). The extremely unpopular WV Sen. Joe Manchin tried to take credit for the $3 billion project, to help rehabilitate his reputation (it didn’t work, he’s as unpopular as ever). The official announcement didn’t say where the plant will be built, but one news account says it will get built in Doddridge County. The project will employ 1,000 people to build it and won’t be ready until “later this decade.” This is one of, if not THE largest gas-fired power plant we’ve heard of. And it will get built in WV! It’s about time.
    Read More “CPV Announces Plans for Massive $3 Billion, 1,800 MW Gas-Fired Plant in WV”

  • Chief Oil & Gas | Energy Companies | Fayette County | Industrywide Issues | Lease & Royalty Payments | Litigation | Pennsylvania

    Fayette County, PA Landowners Get $5.5M Settlement from Chief

    September 19, 2022September 19, 2022

    A group of roughly 60 landowners located in Fayette County, PA, have received a $5.5 million settlement from what was Chief Exploration and Development (now called Cyprus Exploration and Development) to compensate the landowners for leases signed in 2008. The landowners filed a class action lawsuit in 2011, claiming bonus and rent payments were not made.
    Read More “Fayette County, PA Landowners Get $5.5M Settlement from Chief”

  • Hydraulic Fracturing | Industrywide Issues | Litigation | Pennsylvania | Pike County | Statewide PA | Wayne County

    3rd Circuit Buys Anti Argument, Blocks PA from Suing DRBC

    September 19, 2022September 19, 2022

    In a brilliant move aimed at boxing in the Delaware River Basin Commission (DRBC), two northeastern Pennsylvania State Senators–Gene Yaw and Lisa Baker–along with members of the PA Senate Republican Caucus (27 Senators in all), filed a lawsuit in January 2021 against the DRBC accusing the quasi-governmental agency of “taking” the property rights of PA residents without just compensation under the law over the DRBC’s ban on fracking (see PA Senators Sue DRBC for “Taking” Property re Frack Ban). In June 2021, a federal district court judge in Philadelphia dismissed the case claiming the Senators, who represent people shafted by the DRBC, don’t have “standing” to bring the lawsuit (see Fed Court Dismisses PA Senate Lawsuit Against DRBC Frack Ban). Senators Yaw and Baker appealed the dismissal to a higher court–to the U.S. Court of Appeals for the Third Circuit. Unfortunately, last Friday, the 3rd Circuit ruled against the brave and righteous Senators citing the same reason.
    Read More “3rd Circuit Buys Anti Argument, Blocks PA from Suing DRBC”

  • Industrywide Issues | Research

    U.S. Natural Gas Production in Lower 48 Hits 100 Bcf/d!

    September 19, 2022September 19, 2022

    A major psychological milestone was hit this month for the first time. Natural gas production in the Lower 48 States passed 100 billion cubic feet per day (Bcf/d). According to RBN Energy, Lower 48 dry gas production hit a record 100.1 Bcf/d on September 6. The experts at RBN delve into why this is such a remarkable event, and what it means. The short version is that demand for natural gas *here at home* (in the U.S.) is at record highs and shows no signs of diminishing.
    Read More “U.S. Natural Gas Production in Lower 48 Hits 100 Bcf/d!”

  • Anti-Drilling/Fossil Fuel | CNG/LNG | Industrywide Issues | New York | New York County

    NYC Council Members Intro Bill to Block More NatGas to Brooklyn

    September 19, 2022September 19, 2022

    Two New York City Councilmembers recently introduced a resolution to block the construction of gas vaporizer expansions in National Grid’s Greenpoint Newtown Creek facility. The resolution calls on the state Dept. of Environmental Conservation (DEC) to deny a permit, and for the state Public Service Commission to deny allowing National Grid to fund it. National Grid is desperately trying not to run out of natural gas for its customers in Brooklyn and Queens (on Long Island). Antis are trying to force National Grid to do just that–run out of natural gas, leaving citizens in the cold in the dead of winter.
    Read More “NYC Council Members Intro Bill to Block More NatGas to Brooklyn”

  • Energy Services | FirstEnergy

    FirstEnergy CEO Suddenly Retires – Related to Nuclear Scandal?

    September 19, 2022September 19, 2022
    Steve Strah

    Has the FirstEnergy Corp. nuclear bailout scandal claimed another career? On Thursday, FirstEnergy announced that its CEO, Steve Strah, was suddenly retiring the very next day, on Friday, and that the Chairman of the Board, John Somerhalder, will become the interim CEO until a permanent replacement is found. No reason was offered in the FirstEnergy announcement for Strah’s sudden “retirement.”
    Read More “FirstEnergy CEO Suddenly Retires – Related to Nuclear Scandal?”

  • Alternative Energy | Industrywide Issues

    Even Leftists at NYT Admit We Need O&G for Decades to Come

    September 19, 2022September 19, 2022

    Finally, a little honesty from the editorial pages of the New York Times. Yes, the Times still publishes fake news on a regular basis (their news operation cannot be trusted). However, one of their leftist opinion writers, Thomas L. Friedman, recently published a real eye-opener. Friedman says Putin believes he has found a cold war he can win–a war on energy. And the West will not win that war unless “the U.S. and its Western allies stop living in a green fantasy world that says we can go from dirty fossil fuels to clean renewable energy by just flipping a switch.” Whoa! And then Friedman attacks the left’s attack on fossil energy, indicating it will be decades, at a minimum, before we are close to transitioning to energy sources that are not fossil-based.
    Read More “Even Leftists at NYT Admit We Need O&G for Decades to Come”

  • Best of the Rest

    Other Stories of Interest: Mon, Sep 19, 2022

    September 19, 2022September 19, 2022

    MARCELLUS/UTICA REGION: Pennsylvania sees decline in natural gas rigs; OOGEEP has awarded $599,000 in scholarships to Ohio students; OTHER U.S. REGIONS: Judge confirms ‘sue & settle’ agreement; NATIONAL: As farmers split from the GOP on climate change, they’re getting billions to fight it; Rich John Kerry cautions impoverished African nations against natural gas projects; INTERNATIONAL: Russia could find new markets for half the oil shunned by the EU; Putin says ‘push the button’ on the Nord Stream 2 pipeline to get more natural gas.
    Read More “Other Stories of Interest: Mon, Sep 19, 2022”

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