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Marcellus Drilling News
  • Energy Services | Equitrans/EQT Midstream | Industrywide Issues | Regulation | Statewide WV | West Virginia

    Joe Manchin Cuts MVP “Deal” in Return for Selling Out Country

    August 2, 2022August 2, 2022
    Traitor Joe Sticker (Designed and sold by ToyoTees, click to order)

    The radical left is trying to salvage what’s left of Traitor Joe Manchin’s reputation–but they can’t do it. We saw multiple stories pop up yesterday to say that Manchin, U.S. Senator from West Virginia, “secured an agreement” to fast-track the completion of the 94% completed Mountain Valley Pipeline (MVP) in return for selling out the entire country by voting for the Big Green “Build Back Better” bill, now renamed to the laughable “Inflation Reduction Act” (see Tragedy: Joe Manchin Caves & Agrees to Big Green Build Back Better). Big Media is reporting Manchin convinced Democrats to “allow” MVP to finish up pronto. Except that’s not what they have agreed to–at all.
    Read More “Joe Manchin Cuts MVP “Deal” in Return for Selling Out Country”

  • Industrywide Issues | Regulation | Statewide WV | West Virginia

    Manchin-Schumer Climate Bill Aims to Control Cow Burps and Farts

    August 2, 2022August 2, 2022

    So what, exactly, is in the Manchin-Schumer Soar-Inflation Higher (i.e. Inflation Reduction Act) bill? We’ve already told you the key ingredient, which is an onerous new methane tax (see Joe Manchin’s Green New Deal Cave Slaps O&G with Big Methane Tax). What else is in there? A lot of Big Green hoo-ha about how spending a few hundred billion dollars on green boondoggles that will supposedly save the planet. The bill even includes $25 million to combat “enteric emissions” produced by cows and farm animals. That is, figuring out how to lower (or capture) emissions from cow burps, cow farts, and cow poop. No, this is not a joke.
    Read More “Manchin-Schumer Climate Bill Aims to Control Cow Burps and Farts”

  • Economic Impact | Industrywide Issues | Jobs | Supply Chain

    M-U Supply Chain Businesses in Pittsburgh See Jump in Sales

    August 2, 2022August 2, 2022

    It finally seems as if economic activity is picking up once again in the Marcellus/Utica. And we don’t mean just shale drillers and pipeline companies. The companies that supply those companies–the supply chain–is seeing an uptick in business, according to an article appearing in the Pittsburgh Business Times. Companies like U.S. Steel, MSA, and Steel Nation are reporting strong increases in sales in 2022.
    Read More “M-U Supply Chain Businesses in Pittsburgh See Jump in Sales”

  • Commodity Price | Industrywide Issues

    Prices Spike for M-U NatGas in Mid-Atlantic, Southeast

    August 2, 2022August 2, 2022

    Not all that long ago, the spot (physically traded) price of natural gas around the Marcellus/Utica region, and the regions it feeds, including the Southeastern U.S., had some of the lowest spot prices for natural gas in the U.S. We recall being excited to see the price per Mcf (or MMBtu) get above $1 in northeastern PA. That all changed over the past year or so. According to RBN Energy, “cash and forward prices in the Mid-Atlantic and Southeast have rocketed, becoming the highest gas prices in the land, and in some cases are at never-before-seen levels for this time of year.” What happened? Why is the price so high now, in a region flooded with natural gas, where once we couldn’t get the price to go over a dollar?
    Read More “Prices Spike for M-U NatGas in Mid-Atlantic, Southeast”

  • Hydraulic Fracturing | Industrywide Issues | New York | Regulation | Statewide NY

    Is There Still a Chance for Fracking in New York State?

    August 2, 2022August 2, 2022

    One of the questions MDN editor Jim Willis (who lives in New York State) often gets at family gatherings and the occasional conference (when folks find out he writes about “fracking” and “shale energy”) is this: “Will New York ever get fracking?” Jim’s tongue-in-cheek answer is, “When pigs fly!” The slightly longer answer is that the ignominious politician Andrew Cuomo, while he was governor, slipped a permanent ban on fracking into law as part of the 2020 state budget bill (see Cuomo PERMANENTLY Bans NY Fracking in Now-Adopted Budget). It would take both a Republican governor and a Republican-controlled legislature to overturn the frack ban now ensconced in law. NY is sometimes able to elect a Republican governor and even a Republican Senate. But NY will never elect a majority of Republicans in the House. There are just too many socialist Democrats who live in New York City.
    Read More “Is There Still a Chance for Fracking in New York State?”

  • CNG/LNG | Exporting | Industrywide Issues | Research

    Intl LNG Importers Issue 2022 Report, Shows LNG Grew 4.5% in ’21

    August 2, 2022August 2, 2022

    Most of the time, when we write about LNG (liquefied natural gas), we write about exports. In particular, U.S. exports. The International Group of Liquefied Natural Gas Importers (GIIGNL) advocates for the other end of the deal–those importing LNG. GIIGNL recently issued its 2022 annual report (full copy below). It really is quite fascinating. The report includes a list of long- and medium-term contracts (>4 years) signed in 2021–who the buyer is, who the seller is, and which countries the gas is going from and to.
    Read More “Intl LNG Importers Issue 2022 Report, Shows LNG Grew 4.5% in ’21”

  • About MDN

    MDN New Advertiser of Interest to Landowners/Mineral Rights Owners

    August 2, 2022August 2, 2022

    In April, MDN told you about an exciting new FREE service for landowners and rights owners called MineraliQ (see Enverus Launches Free Online Tool to Track Mineral Rights, Royalties). MineraliQ is an online service that provides everything you need to know about your minerals in one place, including payments, well locations, and important activities near your minerals that you should know about. The new service will even help you estimate how much your mineral rights are worth now and in the future.
    Read More “MDN New Advertiser of Interest to Landowners/Mineral Rights Owners”

  • Best of the Rest

    Other Stories of Interest: Tue, Aug 2, 2022

    August 2, 2022August 2, 2022

    NATIONAL: USA ramps up rig count; U.S. needs more natgas to decarbonize rest of the world; INTERNATIONAL: European gas situation moves from bad to ugly.
    Read More “Other Stories of Interest: Tue, Aug 2, 2022”

  • CNX Resources | Energy Companies

    CNX 2Q – Profits Up, Production Up, Expenses Down, Free Cash Flows

    August 1, 2022August 1, 2022
    click for larger version

    The world of Big Investing is often a mystery for us. CNX Resources issued a stellar update last Thursday. The company made $33 million in profit for the quarter, versus losing $354 million in 2Q21. It generated $62 million in free cash flow. Total 2Q revenues of $473 million improved 32% year over year from the prior-quarter level of $359 million. CNX sold its gas for an average of $3.32 per thousand cubic feet equivalent (Mcfe), up 28% from the year-ago figure of $2.60/Mcfe. Production costs were $1.58/Mcfe, down 1.3% from one year ago. And yet Wall Street analysts somehow “expected” more, and punished the stock by selling it, causing an initial dip of 9% in the share price. Go figure.
    Read More “CNX 2Q – Profits Up, Production Up, Expenses Down, Free Cash Flows”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Regulation | Statewide WV | West Virginia

    WV Ends Business with 5 Banks Guilty of Boycotting Fossil Fuels

    August 1, 2022August 1, 2022

    Boom! The hammer has dropped on five of six companies identified by West Virginia as engaging in “boycotts of fossil fuel companies.” In June, WV State Treasurer Riley Moore sent a letter to six big banks/investment firms alerting them they are about to be added to the state’s “blacklist” for violating policies by not investing or doing business with fossil fuel companies (see WV Threatens 6 Banks for Breaking State Anti-Fossil Fuel Law). All six protested, begging WV not to blacklist them, which would end WV from doing business with them (see Big Banks Object to Being Outed by WV as Fossil Energy Haters). The verdict is in, and five of the six have been found guilty and remain on the blacklist.
    Read More “WV Ends Business with 5 Banks Guilty of Boycotting Fossil Fuels”

  • Industrywide Issues | Pennsylvania | Regulation | Statewide PA

    New PA Act 96 Helps Boost Plugging Orphan Wells – Left Goes Nuts

    August 1, 2022August 1, 2022

    Two weeks ago, Pennsylvania House Bill (HB) 2644 was passed into law, becoming Act 96 of 2022. The new law requires the state Dept. of Environmental Protection (DEP) to use a portion of new federal funding to create a grant program to support experienced well-plugging companies that work to maximize the volume of orphan wells being plugged in the Commonwealth. It also keeps the right to raise bonding amounts for conventional wells with the legislature rather than allowing PA’s unelected Democrat bureaucrats in the bowels of the DEP’s Environmental Quality Board (EQB) from doing it–which has the left screaming bloody murder.
    Read More “New PA Act 96 Helps Boost Plugging Orphan Wells – Left Goes Nuts”

  • Industrywide Issues | Pennsylvania | Regulation | Statewide PA

    PA Gov. Wolf Instructs DEP to Draft New Regs Following Act 96

    August 1, 2022August 22, 2022

    Pennsylvania Gov. Tom Wolf, controlled by the extreme left in the Democrat Party, allowed PA House Bill (HB) 2644 to become law without his signature (see today’s companion story, New PA Act 96 Helps Boost Plugging Orphan Wells – Left Goes Nuts). Wolf took a big hit from the lunatics in his own party following his inaction on 2644. Now he’s trying to make up for it. Over the weekend, Wolf published a notice in the Pennsylvania Bulletin to justify his action of allowing 2644 to become law (now called Act 96), and to instruct the state Dept. of Environmental Protection (DEP) to enact new regulations clamping down on how it regulates conventional oil and gas wells to prevent new abandoned wells. In other words, expect the DEP under Wolf (and Shapiro, if he wins in November, God forbid) to generate all sorts of onerous new regulations in the name of preventing new orphaned wells from popping up.
    Read More “PA Gov. Wolf Instructs DEP to Draft New Regs Following Act 96”

  • Energy Companies | Range Resources Corp

    The Side of Marcellus Drilling that Big Media Refuses to Report

    August 1, 2022August 1, 2022

    Once upon a time, there was a “we’re all in this together” spirit with respect to cleaning up the environment and protecting Mom Earth. But then something happened, and common sense and civility went right out the door. The left elevated the climate to become its new religion and now brooks no dissent from its extreme positions. If you do not agree with the left, if you want to debate and call attention to and poke holes in arguments they make about the climate, you are labeled an apostate, a climate heretic, and banished (or worse). You likely don’t know about efforts by oil and gas companies, particularly in the Marcellus/Utica, to clean up the environment and make planet earth a better place to live. You don’t know about those efforts because the left silences Big Media and won’t allow it to report “the rest of the story,” as Paul Harvey used to say.
    Read More “The Side of Marcellus Drilling that Big Media Refuses to Report”

  • Anti-Drilling/Fossil Fuel | Industrywide Issues | Regulation | Statewide WV | West Virginia

    The Inside Story of How & Why Joe Manchin Flipped, Sold Out Country

    August 1, 2022August 1, 2022
    Joe Manchin

    Last week MDN brought you the sad and tragic news that West Virginia U.S. Senator Joe Manchin has sold out. He put his party above the good of the country and agreed to a Green New Deal bill Chuck “the schmuck” Schumer and Nancy Pelosi are pushing (see Tragedy: Joe Manchin Caves & Agrees to Big Green Build Back Better). As we told you on Friday, the bill will slap oil and gas companies with an onerous new methane tax (see Joe Manchin’s Green New Deal Cave Slaps O&G with Big Methane Tax). Why did Manchin do it? What made him flip to the dark side so fast? We now have the sad answer.
    Read More “The Inside Story of How & Why Joe Manchin Flipped, Sold Out Country”

  • Best of the Rest

    Other Stories of Interest: Mon, Aug 1, 2022

    August 1, 2022August 1, 2022

    MARCELLUS/UTICA REGION: Pipelines to prosperity; NATIONAL: Texas LNG blast starting to eat into USA LNG exports to Europe; A few lessons from tight-rock producers in fracture diagnostics; Will the propane market be prepared for winter?; Once unimaginable, oil flirts with being top U.S. export.
    Read More “Other Stories of Interest: Mon, Aug 1, 2022”

  • CNX Resources | Energy Companies

    Interview with CNX CEO Nick DeIuliis (Part 4) – Pipes, ESG, Politics

    July 29, 2022August 3, 2022
    Nick DeIuliis

    Last week MDN editor Jim Willis had the privilege and honor of a (remote) sitdown interview with Nick DeIuliis, the CEO of CNX Resources, one of the major producers in the Marcellus/Utica. This is the fourth and final installment of that interview. In today’s portion of the interview, Jim and Nick discussing CNX’s midstream assets, pipeline takeaway capacity in the M-U, ESG, the SEC, and politics. It’s a fascinating end to an enlightening discussion.
    Read More “Interview with CNX CEO Nick DeIuliis (Part 4) – Pipes, ESG, Politics”

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