Range Issues Annual ESG Report – Doubles Methane Monitoring
Range Resources, the very first company to sink a Marcellus Shale well back in 2004, issued its annual 2021-2022 Corporate Sustainability Report yesterday. “Sustainability” is Range’s terminology for ESG, or environmental, social, and governance. A couple of notable observations in this latest report: (1) Range has doubled its methane monitoring inspection system using LDAR from four times a year to eight times a year; and (2) Range has the lowest methane intensity, or percentage of methane emissions, in the entire Appalachian basin–according to a third party evaluator.
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Oil and gas giant BP recently released its annual Statistical Review of World Energy–the 71st edition (full copy below). Among the interesting findings in BP’s analysis of global energy last year: Fossil fuels–coal, natural gas and oil–accounted for 82% of primary energy use worldwide last year, down from 83% in 2019 and 85% five years ago. The report doesn’t disclose what percentage of world energy use comes from so-called renewables, wind and solar. We suspect it remains at around 3-4% as in years past. Meaning the legacy media narrative of renewables saving the world is once again exposed as horse manure.
MARCELLUS/UTICA REGION: LSU, Penn State study ways to decrease natgas GHG emissions; OTHER U.S. REGIONS: NextDecade and ExxonMobil sign 1.0 mtpa LNG deal; NATIONAL: Oil rises as US exports soar and stockpiles tumble; Natural gas ETFs are gaining momentum as the summer heat rages.
Pennsylvania Gov. Tom Wolf’s plan to force PA’s coal- and natural gas-fired power plants to begin paying an obscenely high tax on carbon dioxide emissions as part of the so-called Regional Greenhouse Gas Initiative (RGGI) got blocked on July 1 by PA Commonwealth Court (see 
Range Resources delivered its second quarter 2022 update yesterday. The company made an amazing $453 million in profit during 2Q. On a conference call with analysts, CEO Jeff Ventura wasted no time in delivering a shot across the bow of the Bidenistas, saying, “Energy policy will need to be rooted in market realities. If infrastructure projects, namely pipelines and LNG terminals are not prioritized and given a reasonable regulatory review, then I believe it’s simply impossible to meet the growing global demand for reliable, safe and affordable fuels.” Ba-boom! On the wonkish side, Range’s top driller, Dennis Degner, discussed the company’s strategy of drilling new wells on existing pads. Sometimes Range returns to the same pad three times. A three-peat!
In April, CNX Resources announced it had signed a contract extension with Evolution Well Services to use Evolution’s 100% natural gas-fueled electric pressure pumping equipment for another four years (see 
In October 2020, the Federal Energy Regulatory Commission (FERC) finally, after months of dithering, approved TC Energy to begin construction on its Louisiana XPress project to beef up flows along the existing Columbia pipeline system by an additional 850 million cubic feet per day (MMcf/d) by adding three new compressor stations and expanding a fourth compressor in Louisiana (see 
Some politicians make us ill. One of them is John Fetterman, currently Pennsylvania’s undistinguished Lt. Governor and the Democrat candidate for the U.S. Senate to take over the seat being vacated by Pat Toomey. Fetterman is a radial socialist who, in 2016, signed a pledge to ban all fracking nationwide, including his home state of PA. Now that he’s running for the Senate, Fetterman has changed his tune and thinks that at least some fracking is OK. He is a liar.
In April, a group of nearly 200 protesters from some 60 different wacko anti-fossil fuel groups (an average of 3 1/3 person per “group”) turned out to protest a tiny 5-mile pipeline proposed in the Springfield, Massachusetts area (see 
Pennsylvania Attorney General Josh Shapiro, who is running for governor of the Keystone State, has once again targeted a shale energy company in his zeal to prove he despises the Marcellus even more than current Gov. Tom Wolf does (burnishing his credentials with the environmental left who makes up his base). Yesterday Shapiro’s office issued a press release announcing that the Big Man has bullied Southeast Directional Drilling, a subcontractor of National Fuel Gas Supply Corporation (i.e. Seneca Resources), into pleading guilty to spilling nontoxic drilling mud into a creek so small it doesn’t have a name. Southeast will have to pay a $15,000 fine.