Marcellus Drilling News

CNG/LNG | Commodity Price | Exporting | Industrywide Issues

Will Freeport LNG Fire Cause NatGas Prices to Drop to 2021 Levels?
June 21, 2022June 21, 2022

Have you been watching the NYMEX Henry Hub futures price? It’s been dropping like a rock since last week when a fire caused Freeport LNG and its 2 Bcf/d of exported LNG to go offline (see NYMEX NatGas Down 20% in Single Day on Freeport LNG Bad News). Freeport will be largely offline for most of the balance of 2022. We spotted a post by an analyst on the Seeking Alpha investor’s website talking about the Freeport situation and its impact on the price of natural gas (specifically on the UNG ETF). The analyst had some interesting things to say about how and whether the Freeport situation will affect natgas prices here at home.
Read More “Will Freeport LNG Fire Cause NatGas Prices to Drop to 2021 Levels?”
Anti-Drilling/Fossil Fuel | Industrywide Issues

Leftwing Media Finally Starts to Criticize Biden Admin re Energy
June 21, 2022June 21, 2022

Climate Bidenistas

You know when your own tribe, your own party members, turn against you, the end (politically) is near. We’re talking about the Commies of CNN and the socialists of CNBC who are finally, after two years, beginning to be critical, on camera, with members of the Biden administration with respect to the admin’s bumbling energy policies. Both Jennifer Granholm (the dullest, most inept Secretary of Energy EVER to occupy that post) and Rep. Ro Khanna (Democrat Congressman from California, a dimwitted apologist for Biden) were recently challenged on open, publicly broadcasted television newscasts. Granholm was challenged by CNN, and Khanna by CNBC. The challenge in both cases was the same: The Bidenistas can’t say “spend billions on reopening refineries and drilling more now” and at the same say “this is short-term and we want to shut fossil energy down in a few years.” Finally! The truth is beginning to be told.
Read More “Leftwing Media Finally Starts to Criticize Biden Admin re Energy”
Best of the Rest

Other Stories of Interest: Tue, Jun 21, 2022
June 21, 2022June 21, 2022

NATIONAL: Chevron eyes $2.5B investments in low-carbon hydrogen; Oil nosedives on Fed inflation actions; INTERNATIONAL: Germany will fire up coal plants again in an effort to save natural gas.
Read More “Other Stories of Interest: Tue, Jun 21, 2022”
About MDN

MDN Off Today – Juneteenth 2022
June 20, 2022

Today, June 20th, is a stock exchange and bank holiday. Juneteenth is a federal holiday in the U.S. commemorating the emancipation of enslaved African Americans. Juneteenth marks the anniversary of the announcement of General Order No. 3 by Union Army General Gordon Granger on June 19, 1865, proclaiming freedom for enslaved people in Texas. Originating in Galveston, the holiday has since been celebrated annually on June 19 in various parts of the United States, often broadly celebrating African-American culture. The day was first recognized as a federal holiday in June 2021, when President Joe Biden signed the Juneteenth National Independence Day Act into law.

The Juneteenth holiday is observed today (Monday) this year because the 19th fell on a weekend day. As with other bank holidays, MDN will not publish today.
Beaver County | Energy Companies | Ethane | Industrywide Issues | Pennsylvania | Processing Plants | Shell

Shell Exec Says Ethane Cracker 98% Done, Online “Couple of Months”
June 17, 2022June 17, 2022

polyethylene pellets

It’s been a loooong time coming. MDN has covered the Shell ethane cracker plant complex from the very beginning, back in 2016 (see Breaking: Shell Pulls the Trigger, PA Ethane Cracker is a Go!). We’re now six years later, over 8,000 jobs created and billions of dollars spent, and within the next few months Shell will begin full operations at its ethane cracker in Monaca (Beaver County), PA. A Shell executive told the Appalachian Energy Innovation Collaborative’s conference yesterday that the project is now 98% done and will be fully online within “a couple of months.” That is sweet news!
Read More “Shell Exec Says Ethane Cracker 98% Done, Online “Couple of Months””
Delaware County (PA) | Energy Services | Energy Transfer Partners | Industrywide Issues | Pennsylvania | Pipelines | Regulation | Sunoco Logistics

PA PUC Upholds ME Pipe Fine of $51K for Work Near Apartment Bldg
June 17, 2022June 17, 2022

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 (see PA PUC Judge Fines Mariner East Pipe $51K for Work Near Apt Bldg). This latest parting shot at the now-completed NGL pipeline project was levied for being too loud and not doing enough to communicate with residents of an apartment complex near where the pipeline was doing construction work in Delaware County. Yesterday the full PUC voted to accept and enforce the $51,000 fine recommended by the PUC judge.
Read More “PA PUC Upholds ME Pipe Fine of $51K for Work Near Apartment Bldg”
Beaver County | Energy Companies | Hydraulic Fracturing | Industrywide Issues | PennEnergy Resources | Pennsylvania | Regulation

Decision Nears, Antis Still Oppose PennEnergy Creek Water Request
June 17, 2022June 17, 2022

PennEnergy Resources recently reapplied (for a second time) for a permit to draw water from Big Sewickley Creek–but this time the request is cut in half, to just 1.5 million gallons of water a day (see PennEnergy Reapplies to Use SWPA Creek Water for Fracking Ops). In March PennEnergy submitted its water management plan amendment application for proposed water withdrawals from Big Sewickley Creek in Economy Borough, located in Beaver County. As before, the request is to use the water for shale well fracking (the company just received permits to drill seven new wells in Beaver County, PA, see today’s permit report). This application proposes a lower allocation request of 1.5 million gallons per day. As a decision by the state Dept. of Environmental Protection (DEP) nears, antis and local Democrat politicians still oppose the modified request. No surprise there.
Read More “Decision Nears, Antis Still Oppose PennEnergy Creek Water Request”
Ohio | Statewide OH

Riverbend Energy Sells Non-Operated Wells in Ohio Utica, Elsewhere
June 17, 2022June 17, 2022

Riverbend Energy Group invests in oil and gas wells. The company mainly invests in non-operated oil and gas wells, although it also has some operated wells in its portfolio (and investments in renewables too). In May we told you that Riverbend was, according to sources speaking with Reuters, working with an unnamed investment bank to shop three portfolios of non-operated oil and gas assets for $2 billion–with one of the packages containing Utica Shale assets (see Riverbend Energy Shops Non-Operated Wells in Ohio Utica, Elsewhere). Reuters was right, as usual.
Read More “Riverbend Energy Sells Non-Operated Wells in Ohio Utica, Elsewhere”
Lease & Royalty Payments | Pennsylvania | Statewide PA

Drilling & Royalty Revenue on the Rise in the PA Marcellus
June 17, 2022June 17, 2022

A few days ago MDN received a phone call from the Harrisburg Patriot-News, from a reporter asking editor Jim Willis for comments on the latest activity in the Pennsylvania Marcellus. Are royalties doing better? Has there been more drilling activity? Jim tackled the question about drilling activity this way: Yes, there has been a *slight* increase in drilling activity, but not a huge increase. The reporter talked with multiple sources and published an article yesterday.
Read More “Drilling & Royalty Revenue on the Rise in the PA Marcellus”
Electrical Generation | Hydrogen | Industrywide Issues

Big Step – Georgia Power Uses 20% Hydrogen Mix in Power Plant
June 17, 2022June 17, 2022

In April MDN told you about a world first when the gas-fired power plant (currently powered by Utica Shale gas) on the banks of the Ohio River in Hannibal (Monroe County), OH, successfully added a 5% mixture of hydrogen to the natural gas it burns (see Utica Gas Power Plant on Ohio River Uses Hydrogen in World First). The Long Ridge Energy Terminal is the first large, commercial operation to blend hydrogen with natural gas to produce electricity. Somebody just one-upped Long Ridge. Georgia Power has completed a commercial test of blending 20% hydrogen with natural gas at one of its facilities.
Read More “Big Step – Georgia Power Uses 20% Hydrogen Mix in Power Plant”
Antero Resources | Chevron | Coterra Energy (Cabot O&G) | Energy Companies | Energy Services | EQT Corp | Exxon Mobil | Industrywide Issues | Research | Shell | Southwestern Energy | Williams

Natural Gas Marketed in North America Grows 1% in 1Q22
June 17, 2022June 17, 2022

Each quarter NGI (Natural Gas Intelligence) runs the numbers and publishes a list of the 25 top natural gas marketers in the U.S. (or in the case of 1Q22, the top 24). These are not necessarily the top producers of natural gas, although in some cases they are, but the top sellers (vendors, jobbers) of natural gas. NGI’s latest quarterly report for the first quarter of 2022 shows overall the biggest sellers of natgas increased the amount of gas sold ever so slightly (up 1%) compared with marketed gas from 1Q21.
Read More “Natural Gas Marketed in North America Grows 1% in 1Q22”
Ascent Resources | Belmont County | Bradford County | Butler County | Chesapeake Energy | CNX Resources | Columbiana County | Energy Companies | Gulfport Energy | Harrison County | Hilcorp Energy | Monongalia County | Ohio | PennEnergy Resources | Pennsylvania | Weekly Permits | West Virginia

21 New Shale Well Permits Issued for PA-OH-WV Jun 6-12
June 17, 2022June 17, 2022

The Marcellus/Utica is still struggling to get permit numbers into higher brackets. Three weeks ago a pathetically low six new permits were issued to drill shale wells across Pennsylvania, Ohio, and West Virginia (see 6 New Shale Well Permits Issued for PA-OH-WV May 23-29). Two weeks ago the number improved–with 20 new permits issued (see 20 New Shale Well Permits Issued for PA-OH-WV May 30-Jun 5). Last week, for June 6-12, the number increased by one, to 21 new permits issued. Anemic, but improving.
Read More “21 New Shale Well Permits Issued for PA-OH-WV Jun 6-12”
Best of the Rest

Other Stories of Interest: Fri, Jun 17, 2022
June 17, 2022June 17, 2022

MARCELLUS/UTICA REGION: Former VP Pence, Gov. DeWine discuss Ohio’s natural gas and oil industry; NATIONAL: White House weighs fuel export limits; US natural gas storage levels increase by 92 Bcf, slimming deficit; C-Zero closes $34M financing to build pilot natgas decarbonization plant; Environmental groups sue Biden to block 3,500 oil and gas drilling permits; The wrong people are making our energy decisions; The parable of the chicken farmer and the oilman.
Read More “Other Stories of Interest: Fri, Jun 17, 2022”
Energy Companies | Greylock Energy | Industrywide Issues | M&A

Greylock Energy, Former Pure-Play M-U, Buys Western O&G Assets
June 16, 2022June 16, 2022

Here’s some major news that we confess we somehow missed back in March. Greylock Energy, which is headquartered in Charleston, WV, and has (until recently) been a pure-play natural gas driller in the Marcellus/Utica, now owns assets and drills for oil (and gas) in Utah and Wyoming. Kyle Mork, president and CEO of Greylock Energy, addressed Hart Energy’s DUG East conference in Pittsburgh yesterday. He talked extensively about Greylock’s decision to “go West young molecule” (our words). Why the Uinta and Green River Basin? Why now?
Read More “Greylock Energy, Former Pure-Play M-U, Buys Western O&G Assets”
Industrywide Issues | Pennsylvania | Regulation | Statewide PA

PA Rep. Metcalfe Floats Resolution to Impeach DEP Sec. McDonnell
June 16, 2022June 16, 2022

Two days ago Pennsylvania House Environmental Resources and Energy Committee (ERE) Majority Chairman Daryl Metcalfe (R-Butler) issued a co-sponsorship memo asking for other House members to sponsor a resolution with him calling for the impeachment of outgoing Dept. of Environmental Protection (DEP) Secretary Patrick McDonnell. Metcalfe calls the measure his “parting gift” to McDonnell who is leaving the agency on July 2nd (see PA DEP Secretary Pat McDonnell Leaving Agency July 2nd). Metcalfe accuses McDonnell of “flagrant violations of our state Constitution and statutes throughout his tenure.”
Read More “PA Rep. Metcalfe Floats Resolution to Impeach DEP Sec. McDonnell”
CNG/LNG | Energy Companies | EQT Corp | Exporting | Industrywide Issues

Toby Rice: NatGas Leads the Charge on Energy Security & Climate
June 16, 2022June 16, 2022

Toby Rice

EQT CEO Toby Rice is and has been on a mission–to spread the gospel of LNG (see EQT CEO Toby Rice Unveils Nationwide Plan to “Unleash” U.S. LNG). Rice continued to spread the good news of LNG at a meeting of the faithful yesterday in Pittsburgh. Speaking to Hart Energy’s DUG East conference, Rice said zero-carbon solutions are not yet ready to meet the world’s demand for energy, but low-carbon solutions, like LNG, are ready today.
Read More “Toby Rice: NatGas Leads the Charge on Energy Security & Climate”