The Enverus U.S. rig count rose by 1 to 348 over the past week, after having going up by 11 and 13 (respectively) the two weeks prior. However, the count in the Marcellus Shale dropped by three rigs in the wet gas area and the Marcellus dry gas region gained 1 rig, for a net loss of two.
Read More “Enverus U.S. Rig Count Adds 1, Marcellus Wet Gas -3, Dry Gas +1”
When checking the NYMEX futures price for natural gas, which is based on the spot price at the Henry Hub in southern Louisiana, we had a surprise. Just a few days ago the NYMEX was showing right around $3 per million BTUs (or per Mcf, thousand cubic feet). Yesterday the price closed at $3.30/Mcf. Why the huge jump?
Read More “NYMEX Henry Hub NatGas Price Shoots Up to $3.30 for December”
Rystad Energy says worldwide the oil and gas industry has lost some 400,000 jobs in 2020. About half of those, says Rystad, are jobs lost in the U.S. Reuters is quoting Secretary of Energy Dan Brouillette as saying U.S. oil production will likely not return to its pre-pandemic peak of 13 million barrels of production per day–at least not any time soon. Ergo, those jobs are not coming back any time soon.
Read More “U.S. Oil & Gas Job Losses Hit ~200,000 in 2020 Due to Pandemic, M&A”
MARCELLUS/UTICA REGION: Eying Pennsylvania, Trump officials pound on energy themes; Navarro: Pennsylvania’s ‘proud frackers’ help drive state’s economy; OTHER U.S. REGIONS: DoE issues LNG export extensions for three projects; Massachusetts DPU making gas companies review energy output to help state meet 2050 net-neutral goal; NATIONAL: U.S. weekly LNG exports keep climbing; Joe Biden’s flip-flops on fracking, natural gas issues leave experts concerned of economic impact if he’s elected; Clean energy vs. oil & gas: the biggest lie of 2020; Dirty solar (video); INTERNATIONAL: China believes natural gas demand will soar.
Read More “Other Stories of Interest: Fri, Oct 30, 2020”
There is no explaining lunatics like those belonging to the Columbia Gas Resistance Campaign in Springfield, Massachusetts who seek to block new and expanded delivery of natural gas to its customers. Following the disaster in September 2018 from a series of explosions that occurred in Columbia Gas’ local delivery pipelines north of Boston (see Local NatGas Pipes Explode Near Boston Killing 1, Injuring 25), Columbia was forced to sell its Massachusetts natural gas-delivery franchise to Eversource, a competitor (see Columbia Selling Mass. Gas Utility Biz to Competitor Eversource).
Read More “Massachusetts Antis Want Eversource to Block New Gas for Customers”
Nick DeIuliis, President and CEO of CNX Resources Corporation, has been an outspoken advocate for the shale gas industry and manufacturing since at least 2017. And we mean outspoken. The trend continues. Nick has just announced a forthcoming book and a new website to continue his pro-fossil fuel advocacy.
Read More “CNX CEO Nick DeIuliis Publishes New Book, Website Promoting NatGas”
Last week the U.S. Dept. of Energy announced it has extended the terms of seven long-term liquefied natural gas (LNG) export authorizations through 2050. One of the facilities receiving an extension is the Cove Point LNG export facility in Maryland, a facility that exports 100% Marcellus molecules.
Read More “DOE Approves Cove Point, Six Other Plants to Export LNG Thru 2050”
Eagle LNG Partners built and maintains a smallish LNG facility in Maxville, Florida (suburb of Jacksonville). Since early 2018, Eagle LNG has loaded hundreds of ISO and trailers loads from their Maxville LNG facility for Crowley Maritime and other customers (see Eagle LNG Celebrates 100th LNG Bunkering at Port of Jacksonville). Eagle is spreading its wings. Earlier this week the company announced it has entered into a long-term agreement to provide a turn-key U.S. natural gas solution for the Barbuda Ocean Club in Barbuda, West Indies.
Read More “Marcellus/Utica LNG Heading to Barbuda, West Indies?”
The French government has asked one of its own companies, Engie, to hold off on signing a deal worth $7 billion to buy U.S. LNG from NextDecade’s planned Rio Grande export facility in Brownsville, Texas. It seems France thinks our fracked-gas LNG is too dirty for them.
Read More “France Blocks $7 Billion U.S. LNG Deal as “Too Dirty””
There is another new scam being perpetrated on the liquefied natural gas (LNG) sector. It’s called “green LNG.” Supposedly pimple-faced millennial investors are demanding the companies they invest in (with some $110 trillion worth of money) clean up their carbon dioxide emissions or the spoiled kids will refuse to invest. Some LNG companies are going to extraordinary lengths to prove their green worthiness to these idiots.
Read More ““Green LNG” – The Latest Carbon Tax Scam”
MARCELLUS/UTICA REGION: Oil & Gas Industry is invited to attend this Saturday’s TRUMP RALLY!; Virtual town hall on America’s energy future this Friday; OTHER U.S. REGIONS: Texas added 700 oil extraction jobs in September, first uptick since the pandemic started; NATIONAL: TC Energy awards more than $1.6 billion in American Contracts to build Keystone XL; Can Liberty Oil maverick’s corporate culture survive the U.S. shale bust?; Enterprise pipeline CEO projects oil price climb in late 2021; Biden’s painful transition from oil and gas; States that will decide the 2020 election are reliant on an industry Joe Biden has vowed to eliminate; Democrats’ energy dilemma; INTERNATIONAL: US boosts energy infrastructure push in Vietnam with raft of LNG-to-power deals; US LNG developers eye shorter contracts to lure India buyers: energy secretary; Europe moves toward requiring low-methane natural gas; Chinese energy company, U.S. oil & gas affiliate and Chinese national indicted for theft of trade secrets.
Read More “Other Stories of Interest: Thu, Oct 29, 2020”
Looks like the rumors were true, at least one of them. Yesterday EQT announced it has cut a deal to buy Chevron’s considerable Appalachian assets for $735 million. The Reuters rumor from September said EQT had offered $750 million (see Sources: EQT Offering $750M for Chevron’s Marcellus/Utica Assets). Also yesterday, EQT floated up to 23 million new shares of stock, on offer for $15.50 per share, attempting to raise ~$350 million to use toward the Chevron purchase.
Read More “EQT Buys Chevron M-U Assets for $735M, Floats $350M in New Stock”
In 2016 Crestwood Equity Partners formed a joint venture with New York City’s largest utility company, Consolidated Edison Inc., to operate a critical link of pipelines and storage facilities in the heart of the Utica/Marcellus, called Stagecoach Gas Services (see Con Ed & Crestwood Seal the Deal on Marcellus Pipeline/Storage JV). Crestwood, which owns and operates midstream businesses in multiple shale plays across the United States, released its third-quarter 2020 update yesterday. Guess which region generated the most revenue for the company last quarter?
Read More “Crestwood 3Q20 Update: Marcellus Stagecoach Sees Record Volumes”
Eagle Manufacturing, located in Wellsburg, WV, was struggling in the early 2000s. The company makes plastic safety products. Foreign competition was hammering the company (tough to compete with children in China who work in factories for a dollar an hour). The company almost offshored production to China, but decided to stick it out a few more years here at home. And then the Marcellus/Utica Shale miracle happened.
Read More “Shale Energy Saving Manufacturing Plants, Jobs in Appalachia”
Anti-fossil fuel nutters believe they have an opening to try and bully the Federal Energy Regulatory Commission (FERC) into de-certifying a fully permitted and ready-to-start compressor station in Weymouth, Massachusetts because of an “emergency” release of a few puffs of natural gas during final testing of the facility.
Read More “Anits Ask FERC to Keep Ready-to-Start Weymouth Compressor Closed”
Peregrine Energy Partners, headquartered in Dallas, Texas, continues its program to buy royalty payments from landowners in the Marcellus/Utica region. Yesterday the company announced another round of deals, this time purchased from landowners in Greene County, PA, and Guernsey County, OH.
Read More “Peregrine Energy Buys Royalty Payments from SWPA, Ohio Landowners”