Natural gas-fired electric generation has increased in most U.S. regions since 2015, according to data from the U.S. Energy Information Administration (EIA). Annual electricity generation from natural gas power plants in the U.S. increased by 31% in the Northeast region, by 20% in the Central region, and by 17% in the South region between 2015 and 2019.
Read More “NatGas-Fired Power Plants in M-U See Dramatic Increase 2015-2019”
MARCELLUS/UTICA REGION: State Environmental Agency Assn., led by DEP Sec. McDonnell, meets with Biden EPA transition team; NATIONAL: Shale executives see little chance of significant growth; U.S. natural gas beats Covid-19; Peak oil demand, really? Some lessons from the debate over peak supply; Energy majors, utilities back Biden’s call to enact bipartisan climate legislation; INTERNATIONAL: Denmark to end oil and gas era in 2050; US calls for ‘moratorium’ on Nord Stream 2 pipeline; How OPEC sees the oil market in 2021.
Read More “Other Stories of Interest: Mon, Dec 7, 2020”
Earlier this week the NYMEX natural gas futures contract for December rolled off and the January contract became the “front contract” being traded. The latest storage numbers–how much gas has *not* been withdrawn from storage–combined with weather forecasts and computerized trading to hammer prices. Natgas was down 10 cents on Wednesday, and down another 27 cents yesterday, for a combined 37 cent loss over the past two days. Yuck. But it’s not all bad news, at least here in the Marcellus/Utica.
Read More “NYMEX NatGas Price Crashes – Down $0.37 in 2 Days, Now $2.51”
The first of 10 LNG (liquefied natural gas) mini-trains at Kinder Morgan’s Elba Island, Georgia export facility went online in December of last year (see Elba Island Finally Exported First Marcellus LNG Cargo on Friday). Since that time, the other nine trains have come online one at a time, with the last unit going into service in August (see Final Elba Island LNG Train Goes into Service – All 10 Now Online). As happens with these facilities, each year the owner/operator will take units offline for maintenance. Some of Elba’s 10 trains are offline for maintenance right now, but not all of them.
Read More “Kinder Morgan’s Elba Island LNG Partially Down for Maintenance”
The clown judges of the U.S. Court of Appeals for the Fourth Circuit (one of whom quotes from children’s books in her opinions) have signaled they will overturn, again (for the second or third time) a permit issued by the U.S. Army Corps of Engineers that allows the 92% completed Mountain Valley Pipeline (MVP) from finishing its work by installing pipe under or through creeks and rivers. We have the Sierra Club to thank for the lawsuit, and colluding liberal Democrat judges to thank for continued obstruction of this legally-permitted project from finishing.
Read More “4th Circuit Clown Judges Signal They’ll Overturn MVP Permit, Again”
The Pennsylvania Dept. of Environmental Protection (DEP) is in major butt-covering mode with the state’s conventional (non-shale) oil and gas industry. During an industry-led advisory committee meeting held yesterday, members of PA’s conventional oil and gas industry delivered some rather blunt comments to DEP Deputy Secretary for Oil and Gas Management Scott Perry, accusing the DEP of “ramming the most punitive set of regulations on this industry to date.”
Read More “O&G Industry Calls Out PA DEP for “Appalling” Conventional Regs”
On Wednesday, Hart Energy held its annual DUG (Developing Unconventional Gas) East event. This year the event was virtual instead of in-person at the convention center in Pittsburgh. One acronym seemed to be on the lips of nearly every speaker at this year’s event: ESG, which stands for “environment, social, governance.” Speakers said if Marcellus/Utica companies want to get new investment from the big money libs who now control the financial markets, they better “talk the talk and walk the walk” when it comes to ESG.
Read More “M-U Companies Must “Walk the ESG Walk” to Get Investment Money”
Mob rule now prevails in New York City under Mayor Bill de Blasio. In February we told you about a mob of anti-fossil fuelers attempting to block the final few feet of construction for a 6.8-mile natural gas pipeline stretching from Brownsville to North Brooklyn (see Will a Brooklyn, NY Mob Stop Completion of National Grid Pipeline?). The pipeline still isn’t done ten months later, and now de Blasio is calling for the builder, National Grid, to abandon it.
Read More “NYC Mayor de Blasio Seeks to Block Brooklyn NatGas Pipe Project”
The Enverus U.S. rig count continues to rise. Two weeks ago the nationwide count was 382. As of Wednesday, the count stood at 396, up 14. Over the past week, the Marcellus shale play in northeastern PA lost a rig. The combined M-U rig count is now 32.
Read More “Enverus U.S. Rig Count Up Again, PA Marcellus Loses 1 Rig”
MARCELLUS/UTICA REGION: Summit Midstream regains compliance with NYSE minimum price continued listing standard; OTHER U.S. REGIONS: Massachusetts AG tells Bloomberg group of plan to use its attorneys to enforce Paris climate treaty; NATIONAL: ‘Methane’ sounds worse than ‘natural gas’; INTERNATIONAL: NUS team invents ‘fast and safe’ way to convert natural gas to solid form; OPEC, allies agree to increase output by 500,000 barrels a day in January; More than 140 trucks, buses switch to natural gas in Vancouver; Making shipping cleaner – is LNG the answer?
Read More “Other Stories of Interest: Fri, Dec 4, 2020”
Yesterday CNX CEO Nick Deluliis was one of the keynote speakers at the annual DUG (Developing Unconventional Gas) East event, held virtually this year. Normally DUG is held at the Convention Center in Pittsburgh. Deluliis’ talk was wide-ranging, but much of it concentrated on mergers and acquisitions, particularly M&A in the Marcellus/Utica. Deluliis is not much interested in horizontal M&A for CNX, but he is intrigued by vertical M&A.
Read More “CNX CEO Nick Deluliis Talks About “Hard Truths” in M&A at DUG East”
In June 2019 the Cambridge (Massachusetts) Retirement System sued EQT claiming EQT’s executives had made false and misleading statements about their 2017 purchase of Rice Energy–claims about cost efficiencies that never materialized, and claims about the location of Rice leases that were not as close to EQT’s acreage as claimed (see Mass. Retirement Fund Sues EQT for Plummeting Stock Price). In a word, Cambridge alleged fraud on the part of EQT’s executives and seeks to turn their lawsuit into a class action on behalf of all investors who owned EQT stock at that time.
Read More “Judge Allows Class Action Against EQT/Rice 2017 Merger to Proceed”
Each year Cleveland State University publishes a report for JobsOhio looking at how much money has been invested by the private sector in the Utica Shale (and related) industry. The CSU’s eighth report (full copy below) was recently released and shows some eye-popping numbers. Total shale investment from July through December 2019 in Ohio was approximately $3.06 billion, including upstream, midstream, and downstream. Cumulative shale oil and gas investment in Ohio through the end of 2019 is estimated to be $86.4 billion! It’s hard to wrap your head around that kind of money and its impact on the Ohio economy.
Read More “Jul-Dec 2019 Private Investment in Ohio Utica Shale: $3 Billion”
Two years ago the Maryland Board of Public Works (BPW), which has three members (two leftwing Democrats and RINO Gov. Larry Hogan), rejected an 8-inch, 3.5-mile pipeline (tiny!) that would travel under the Potomac River, even though 12 other pipelines have previously been built under the Potomac in the same general vicinity (see Maryland Pulls a NY, Rejects Pipeline Under Potomac River). Yesterday the same group of three BPW lefties approved a 10-inch, 6.83-mile pipeline for a different company. Our conclusion: The fix is in. Corruption.
Read More “Maryland Board of Public Works Approves Tiny Pipe in Eastern Shore”
Yesterday Hart Energy held its annual (always excellent) DUG (Developing Unconventional Gas) East event. Normally the event is held at the Convention Center in Pittsburgh. This year it was an all-virtual event. Among the speakers were CNX CEO Nick Deluliis, PennEnergy Resources CEO Rich Weber, and Ascent Resources CEO Jeff Fisher. While it’s not all blue skies and sunshine ahead, all three CEOs painted a picture of 2021 that’s better than 2020.
Read More “2021 Upstream Outlook: M-U CEOs Say Gas Market Will Improve”
Each year East Daley Capital publishes its Midstream Guidance Outlook which looks at themes and trends affecting the midstream (pipeline) sector in the coming year. The latest version of Daley’s report has just been released and draws some interesting conclusions about the midstream in 2021. Namely, associated gas growth in the Permian and elsewhere will go down and result in rising gas demand from the Marcellus/Utica and Haynesville gas plays. The big winners will be M-U pipeline companies, including Williams, Antero Midstream, and Equitrans (EQT Midstream).
Read More “2021 Midstream Outlook: Less Assoc Gas = Good News for M-U Pipe Cos.”