NATIONAL: DOE funds transforming energy production, low emissions tech; Firms make deals to boost LNG exports 60% from U.S., Canada, Mexico; INTERNATIONAL: Shell CEO warns energy crisis may last more than one winter; Musk says world needs more oil, gas as bridge to renewables.
Read More “Other Stories of Interest: Tue, Aug 30, 2022”
Olympus Energy (formerly Huntley & Huntley) drills in the Greater Pittsburgh region, in Allegheny and Westmoreland counties. Last year Olympus filed an application to build a new well pad in a rural part of Allegheny County, in West Deer Township. So-called “concerned citizens” (anti-fossil fuel zealots) got amped up to oppose the rural project (see Antis in West Deer, PA Gear Up to Oppose Olympus Well Pad). The antis successfully convinced the board of supervisors to come over to the dark side. Last December, West Deer supervisors voted 4-0 to deny a permit to build the Dionysus pad (see West Deer Township Denies Olympus Permit to Build Shale Pad). Olympus appealed the decision to the Court of Common Pleas. Last week a judge ruled in favor of the zealots.
Read More “Low-Level Judge Upholds West Deer Twp Denial of Olympus Well Pad”
In March, MDN told you that the Deputy Chief Administrative Law Judge of the Pennsylvania Public Utility Commission (PUC) issued a ruling against the now completed Mariner East 2 pipeline project, assessing a $51,000 fine on the project for work done near an apartment complex (see PA PUC Judge Fines Mariner East Pipe $51K for Work Near Apt Bldg). In June, the full PUC voted to accept and enforce the $51,000 fine recommended by the PUC judge (see PA PUC Upholds ME Pipe Fine of $51K for Work Near Apartment Bldg). And now, two months later, the PUC has voted to reverse its own decision, lowering the fine from $51,000 to $3,000. Why? What changed?
Read More “PA PUC Reduces ME Pipe Fine to $3K for Work Near Apartment Bldg”
The State of Florida has jumped on the divest-the-diverstors bandwagon. We have no doubt that Larry Fink, founder and CEO of the world’s largest investment firm, BlackRock, is now VERY concerned about the pushback he’s getting for pushing investors to divest from fossil energy companies. Two of the three largest states in the county (by population)–Texas and Florida–have decided to ban investments in funds that promote ESG–environmental, social, and governance. ESG is just another way of saying divest from fossil energy companies. And now the diverstors, like BlackRock and other Big Banks and Big Investment firms that divest, are themselves the targets for divestment. We love it!
Read More “Florida Follows WV, TX in Banning Investments in Woke ESG Funds”
This is quite a turnabout. George Mitchell pioneered how to combine horizontal drilling with hydraulic fracturing in the Texas Barnett Shale 25 years ago, giving birth to the miracle of modern-day “fracking.” Drillers throughout the southwest, in Texas, New Mexico, and Oklahoma, experimented and blazed a trail for the rest of the country (and world) to follow. Yet now, representatives from those three southwestern states have traveled to northeastern Pennsylvania and the Marcellus to learn a thing or two that we have figured out and do better.
Read More “Texas, New Mexico, Okla. Travel to PA Marcellus to Get Educated”
BKV Corporation (Banpu Kalnin Ventures), the American shale drilling arm of Banpu of Thailand (Banpu owns 96% of BKV), originally entered the American shale sector by investing over $500 million in 2016-2017 to buy existing Marcellus wells and acreage in northeast Pennsylvania. Over the past seven years, BKV has become one of the top 20 gas-weighted natural gas producers in the U.S. BKV is now (with recent purchases) the largest natural gas producer in the Barnett Shale. The company is on a mission to be so-called net zero emissions (Scopes 1 & 2) by 2025. One of the ways the company plans to do it is by using ESG technology from Verde Co2 CCS, LLC.
Read More “BKV (Banpu) All-In with CCUS, Signs Deal with Verde Co2 CCS”
We are currently at war with two of the biggest rogue countries in the world: Russia and China. No, it’s not a shooting war that involves U.S. soldiers. At least, not yet. But make no mistake, we are in a war–on two fronts. The Russian war is over that country’s illegal invasion of Ukraine and the ongoing effort to murder Ukrainians using missiles and Russian ground forces in an attempt to annex portions of the country. The Chinese war is over the independent island nation of Taiwan, which China covets and wants to annex as its own. See a theme here? Both are about land grabs. According to energy experts from Rice University’s Baker Institute, the U.S. LNG industry will need to maintain commitments and support allies and trading partners in both Europe and Asia this winter while fighting this two-front war. It won’t be easy.
Read More “Critical Role of U.S. LNG in Fighting a Two-Front Gas War”
MARCELLUS/UTICA REGION: EPA schedules hearing on proposed injection well in Plum; NATIONAL: Climate activists plotting to negate Manchin oil lease mandate; CCUS planned capacity nearing 1 bn tons per year; Atlantic hurricane forecasts signal havoc for gas shoulder season; How energy politics are discouraging critical investments; Gasoline prices to rise to $5 by year end; INTERNATIONAL: Germans are looking to firewood for energy as natural gas prices soar.
Read More “Other Stories of Interest: Mon, Aug 29, 2022”
Apparently, Pennsylvania Gov. Tom Wolf told a fib on Feb. 1 of this year when he said PA had received an initial $25 million cash infusion from the federal government’s new (so-called) infrastructure law for use in plugging orphaned and abandoned oil and gas wells (see PA Receives First $25M (Out of $104M) to Plug Orphaned Wells). The Dept. of Interior issued a press release yesterday, nearly eight months later, to say 22 states have just been issued their first $25 million from the program–including Pennsylvania, Ohio, and West Virginia.
Read More “Feds Finally Issue Initial $25M Each to PA, OH, WV for Orphan Wells”
Using rational arguments and facts and science to make the case that natural gas and natgas pipelines benefit the environment is akin to spitting in the wind when talking with environmental leftists. But we suppose the effort must be made–at least for appearances. Such is the case in New Jersey, where representatives from several utility companies and an academic think tank patiently, rationally, and carefully lay out the case for how using natural gas and gas pipelines will help NJ achieve its so-called clean energy targets by 2050. The utility reps and think tank use the intellectual equivalent of baby talk so nutty lefties in the Garden State will understand what’s being said. Is it all just spitting in the wind? Probably.
Read More “Making the Case for Natural Gas & Pipelines in New Jersey”
This is getting good. In July, West Virginia dropped the hammer and told five Big Banks (investment firms) the state is about to divest and stop doing business with them (see WV Ends Business with 5 Banks Guilty of Boycotting Fossil Fuels). The reason for blacklisting these companies is because they encourage and pressure investors and fund managers to avoid investing in fossil energy companies. Divest the divestors! Texas has just done the same, only Texas has named and shamed ten big financial institutions AND 348 specific investment funds the state will no longer do business with.
Read More “TX Blacklists BlackRock & 9 Others – State Pension Funds to Divest”
Enterprise Products Partners L.P., with over 50,000 miles of natural gas, NGL, crude oil, refined products, and petrochemical pipelines, is one of the largest publicly traded partnerships and a leading provider of midstream energy services to producers and consumers. Advisor Access, an online publication aimed at investment advisors, recently interviewed Enterprises’ co-CEOs. One of the statements made by co-CEO Jim Teague struck a chord with us.
Read More “Enterprise CEO Says World Not in Energy “Transition” but “Addition””
Will oil and gas companies put their extra cash to good use on more fossil energy exploration and production? Or will they blow it on the myth of green energy? Powerhouse consulting and accounting firm Deloitte seems to think O&G will begin to invest more in “green” capital expenditures, raising it from the current 5% average to perhaps 30%. We think that’s a waste. Deloitte has just published a new report, “Striking the Balance: How and Where Will O&G Producers Deploy their Cash?” (full copy below), which examines how O&G companies can “play a key role over the next decade in creating synergy between energy security and energy transition, while helping commercialize essential low-carbon technologies.” Energy “transition” is a misnomer. Read today’s article/interview with Enterprise Products Partners.
Read More “Deloitte Report: How Will O&G Invest Extra Free Cash Flow?”
Here’s a bit of news only one major news outlet (the Wall Street Journal) has covered: Last week Jennifer Granholm, hands down the most incompetent Secretary of Energy ever to hold the office, sent a letter to seven major refinery companies threatening them that if they don’t scale back exports of gasoline, diesel, and other liquid petroleum products, Granholm will have old dementia Joe whip up an executive order slapping a ban on such exports. She’s making them an offer they can’t refuse.
Read More “Biden DOE Threatens Refineries: Export Less Gas & Diesel, or Else”
After several weeks of anemic permit numbers for Pennsylvania, last week PA came roaring back by issuing 30 permits to drill new shale wells. Some 12 of those permits went to Coterra Energy for two pads in Susquehanna County. EQT (aka Rice Drilling) received six permits for a single pad in Greene County, and Chesapeake Energy also received six permits split between two pads–one pad in Bradford County and the other in Lycoming County.
Read More “45 New Shale Well Permits Issued for PA-OH-WV Aug 15-21”
MARCELLUS/UTICA REGION: Zeldin ramps up attacks on Hochul after Dem digs rival on fracking; NATIONAL: 21 LNG carriers departing U.S. this week; Recapping a wild week in the energy policy landscape; INTERNATIONAL: Russia burns off gas as Europe’s energy bills rocket.
Read More “Other Stories of Interest: Fri, Aug 26, 2022”