OTHER U.S. REGIONS: Wide-ranging NC energy bill would mean significant move to natural gas; NATIONAL: Study highlights shortcomings of ESG ratings; ESG momentum may influence oil, gas funding, midstream valuations; Natural gas ETFs surge on hot summer weather.
Read More “Other Stories of Interest: Thu, Jun 17, 2021”
On Joe Biden’s first day occupying the White House, he signed an Executive Order (EO) suspending new oil and gas leasing on all federal while the Interior Department reviews existing leases and permitting practices for 60 days (see How Biden’s Drilling Ban on Federal Lands Affects the M-U). A few weeks later he extended the timeframe for the so-called moratorium, turning it into an ongoing ban (see Biden Continues Attack on O&G with New EO – Industry Fights Back). A federal judge in Louisiana yesterday put a stop to Biden’s “moratorium,” telling the administration to restart federal leases forthwith. You may think this issue only affects those big tracts of federal land in the Western U.S., but you would be wrong.
Read More “Judge Overrules Biden O&G Permit Moratorium on Federal Lands”
Adelphia Gateway, a plan to convert an old oil pipeline stretching from Northampton County, PA through Bucks, Montgomery, and Chester counties, terminating in Delaware County at Marcus Hook, recently received permission from the Federal Energy Regulatory Commission (FERC) to begin final the final bits of construction (see Adelphia Gateway Pipe Near Philly Gets FERC OK to Finish Constr.). Neighbors of a proposed compressor station for the project located in Bucks County just won a victory in PA Commonwealth Court that may delay final startup.
Read More “PA Court Says Fed Law Doesn’t Prevent State Review of Adelphia Pipe”
A federal court in Pennsylvania upheld the findings of a U.S. Dept. of Labor investigation that oil and gas contract worker Henkels & McCoy Inc. owes big money in back wages and overtime to 362 workers at 11 worksites in five states, including Pennsylvania, West Virginia, Connecticut, Georgia, and (yes) even in New York too. The company must now pay $1,085,830 in back wages and damages.
Read More “Gas Pipeline Workers in PA, WV Win $1M in Back Wages/Overtime”
Range Resources has joined the bandwagon of Marcellus/Utica drillers paying homage to ESG (environmental, social, governance) concerns by pimple-faced Millennial investors who demand all companies, even oil and gas companies, bow down to the global warming gods. Range announced its board of directors has formed an ESG and Safety Committee, and that the company has enrolled in the same program several other M-U drillers have joined called Project Canary.
Read More “Range Forms ESG Committee, Joins ‘Responsibly Sourced’ Gas Program”
Technically this post is not about the Marcellus/Utica, but it’s such great news we just have to share it. On Monday, Texas Gov. Greg Abbott signed a new bill into law that bans state investments in banks, investors, and other companies that have cut ties with the oil and gas industry. Texas is divesting from the diverstors. Love it! It’s about time we fight back and fight back hard against the left.
Read More “Texas Adopts Law Boycotting Banks & Investors that Boycott O&G”
This story is so funny, so pregnant with meaning, and such a perfect metaphor for what’s coming to the U.S. in our rush to dump the internal combustion engine, we just have to share it. An all-electric bus in England called the Carbon Battle Bus (out there battling nasty carbon) is touring around the country to proclaim the future of transportation is electric. Since the “leaders” of the world’s seven largest “advanced” economies, the Group of Seven (or G7) were meeting in Cornwall, England to blabber on about global warming and other so-called pressing issues of the day, the Carbon Battle Bus detoured to Cornwall to do some virtue-signaling. Just one problem: Of the five charging stations around town, not one worked. The bus couldn’t recharge and is now stuck in town!
Read More “Elec Bus Visits G7 Meeting in UK – Can’t Recharge, Gets Stranded”
Two of three Marcellus/Utica states received permits to drill new shale wells last week. Pennsylvania issued just 4 new permits, spread all around the state, all in different counties. Ohio issued 8 new permits, split equally between Encino Energy (EAP) and Southwestern Energy (Eclipse). West Virginia’s shale industry got skunked last week with no new permits for a second week in a row! We can’t remember that ever happening.
Read More “Weekly Shale Drilling Permits for PA, OH, WV: Jun 7-13”
OTHER U.S. REGIONS: Electricity and natural gas prices spike in California and Texas amid heat wave; INTERNATIONAL: Big Oil’s net-zero goal: myths and realities; Oil price rally for 2021 approaches 50%; Global fossil fuel share of energy mix similar to decade ago.
Read More “Other Stories of Interest: Wed, Jun 16, 2021”
Yesterday the Pennsylvania Public Utility Commission (PUC) posted detailed information about this year’s distribution of last year’s impact fees on natural gas producers. PA raised a total of $146 million from Act 13 impact fees (PA’s version of a severance tax). That is by far the lowest annual amount raised and distributed by impact fees–some $46 million less than last year. Given the hit of COVID-19 in 2020 (resulting in less drilling) and the low price of natural gas at Henry Hub (the tax rate assessed for each well was in a lower revenue tier) we’re not surprised. Next year will look far different.
Read More “PA Pays Out $146M in Impact Tax for 2020 – Lowest Ever”
Finally! This is a red-letter day. The U.S. Energy Information Administration (EIA) Drilling Productivity Report for June (with forecasted numbers for July) predicts natural gas production in the Marcellus/Utica region will swing from month-over-month decreases we’ve seen for the past year and a half (beginning in January 2020) to a month-over-month increase. Hallelujah! The world is right again.
Read More “EIA DPR: NatGas Production in M-U Finally Reverses, Goes Up in July”
“A democracy will continue to exist up until the time that voters discover that they can vote themselves generous gifts from the public treasury.” (See below for the full quote.) Yesterday Pennsylvania Democrats unveiled their latest “generous gifts” they’re promising to bestow on Pennsylvanians from the public treasury if Gov. Wolf gets his way and imposes a Marcellus-killing carbon tax on electric power generation. The Dems figure they can raise about $300 million a year via a carbon tax and they have a wish list bigger than your wildest dreams for where they’ll spend it. One tiny problem for the Dems…
Read More “PA Senate Passes Bipartisan, Veto-Proof Bill Blocking RGGI Carbon Tax”
Several weeks ago we brought you the news that landowner Gateway Royalty was sounding the alarm over a new bill quickly advancing in the Ohio legislature. Ohio’s House Bill (HB) 152 would use forced pooling if 65% of a proposed unit’s landowners are leased (too low a bar) and also would force the landowner to accept a 12.5% royalty and force them to accept post-production deductions with royalties in some cases potentially going down to nothing (see Ohio HB 152 Forced Pooling Bill Disadvantages Unleased Landowners). After the alarm was sound, the bill’s sponsors backed away from it. However, they’re back with a substitute bill. Danger Will Robinson!
Read More “Rights Owner Says Changes to OH Forced Pooling Bill Not Enough”
Keystone Clearwater Solutions, a company that provides water services for shale drillers in the Marcellus/Utica, is buying the Pennsylvania operations of competitor ECM Energy Services. Keystone, which operates primarily in Pennsylvania, is picking up ECM’s Williamsport, PA operation and rebranding it under the Keystone name. ECM says the sale frees them up to concentrate on their operations in Ohio and West Virginia.
Read More “Keystone Clearwater Buys ECM Energy’s PA Water Transport Biz”
The price of electricity and natural gas in New York State is through the roof. Average New York Independent System Operator (NYISO) power prices across major hubs increased by 50% year over year in May, and natural gas prices increased nearly 75% year over year. It’s a train wreck here in New York. And you can directly blame Andrew Cuomo and the Democrats in the NY legislature for blocking new natural gas pipelines. That’s the root cause. No pipelines = obscenely high prices for electricity and gas.
Read More “New York Electric Prices Up 50%, NatGas Up 75% – Lack of New Pipes”
MARCELLUS/UTICA REGION: Bradford Co. to receive 9.3M through Marcellus Shale impact fees; Senate committee eyes vote to shield natural gas from Ohio city bans; Encino Energy wins award from Eastern Ohio Development Alliance; NATIONAL: Hydrogen isn’t as clean as it seems; US natural gas futures hold near 7-month high; How COVID-19 reshaped the future of North American LNG projects; No place for pipelines or affordable energy under Biden’s plan; INTERNATIONAL: Gas is so scarce in Europe that coal is making a comeback.
Read More “Other Stories of Interest: Tue, Jun 15, 2021”