There were 16 new permits issued in PA for shale drilling June 15-19. There were 7 new permits issued in OH for shale drilling during the same time period. There was 1 new permit issued in WV for shale drilling last week.
Read More “Weekly Shale Drilling Permits Issued for PA, OH, WV for Jun 15-19”
As we have been saying for some time, LNG exports from the U.S. are low and staying low for at least a few more months (see May NatGas Deliveries to US LNG Plants Lowest Since Last October). The U.S. Energy Information Administration (EIA), our favorite government agency, published a post yesterday detailing just how low. So far this year LNG exports from the U.S. have declined by half from previous levels. Looking at one of the charts where EIA forecasts future LNG exports, it looks like it will be third or fourth-quarter 2021 before we hit the same level of exports we had in 1Q20.
Read More “EIA Says U.S. LNG Exports Fall by Half in 2020, Recovery Late 2021”
MARCELLUS/UTICA REGION: Economic reopening: Manufacturing opportunities for Pennsylvania; Small group of antis launch website to oppose Wyalusing LNG export plant; Southwest Pa.’s energy dominance can help counter China; OTHER U.S. REGIONS: Cryptocurrency mining company eyes flared gas in Permian Basin; NATIONAL: Poll: Young voters see natural gas as critical to U.S. economy; Oil prices continue their rise, albeit slowly, since April’s crash; INTERNATIONAL: Vatican calls for carbon tax, investing in alternative energy; Global gas production set to tumble in 2020; Al Gore and the post-pandemic green dictatorship.
Read More “Shale Energy Stories of Interest: Wed, Jun 24, 2020”
Last December Chevron announced it was writing down over $10 billion worth of its U.S. onshore shale assets, with $6.5 billion of that number coming from its Marcellus/Utica assets. Also in December, the company posted for sale ALL of their M-U assets (see Chevron Confirms M-U Assets for Sale, Asks Vendors to Avoid Media). Just sticking a “for sale by owner” sign on more than a half-million acres of leases and over 500 wells didn’t work, so in February Chevron hired investment bank Barclays to help shop their M-U assets (see Chevron Hires Barclays to Help Sell Its Marcellus/Utica Assets).
Read More “Bids for Chevron’s 550K M-U Acres & 500 Wells Due in Mid-August”
Last October PA Gov. Tom Wolf, in a naked power-grab, said he would try to force PA to join the so-called Regional Greenhouse Gas Initiative (RGGI), a group of northeastern states attempting to assassinate coal and gas-fired power generation by taxing it to death with an insane carbon tax (see Gov. Wolf Goes Bonkers: EO Destroying Gas-Fired Elec, Carbon Tax). Wolf signed an Executive Order (EO) tasking his Dept. of Environmental Protection (DEP) with the job of concocting a plan by July 31. Yesterday Wolf tweaked his original EO and extended the deadline for DEP by an extra six weeks–to Sept. 15.
Read More “PA Gov. Wolf Gives DEP Extra Time to File Carbon Tax Plan”
In March a worker hired to x-ray welds on sections of the Mariner East 2 pipeline in southwestern Pennsylvania was charged with falsifying records–that he falsely claimed to have performed work when he didn’t (see ME2 Pipeline Worker Charged with Falsifying Welding Records). Yesterday the worker, via a video hearing, plead guilty to 77 counts of falsifying documents.
Read More “ME2 Pipe Inspector Admits Falsifying Welding Records 77 Times”
Coincidentally we have a second story today about pipe welding inspectors. In another post, we tell you about a pipeline welding inspector who falsified records (see ME2 Pipe Worker in SWPA Admits Falsifying Welding Records 77 Times), which is very much the exception and not the rule. In this second story, an inspector who worked for Equitrans Midstream has filed what he hopes will become a class action lawsuit against the Equitrans, claiming he and others were jilted out of overtime pay.
Read More “Pipe Welding Inspector Sues Equitrans for Overtime, Class Action”
The received wisdom has been that with the oil markets getting whacked by the Saudis, the Russians, and the virus, and with new drilling scaled back and oil wells in the Permian, Bakken, Eagle Ford and other oil plays being shut-in, far less “associated gas” would be produced, leading to tighter natgas supplies further leading to higher prices for natgas (benefitting the Marcellus/Utica). But the price of natgas has remained at a 25-year low. What the heck is going on?
Read More “Why is NatGas Price Stubbornly Low Even with Less Oil Production?”
Here we go again, another “peak oil” theory by the tinfoil hat brigade–except this time the theory is specifically about shale oil and comes from a (used to be) respected company–powerhouse consulting firm Deloitte. Yesterday Deloitte published a new study called, “The Great Compression: Implications of COVID-19 for the US Shale Industry” (full copy below), spinning the theory that the virus pandemic has effectively revealed what “everyone” already knew anyway–shale oil drilling was always a fraud and has already peaked, never made money, destroyed a gajillion dollars of investor value, and bankrupted 190 companies. Shale oil drillers may as well just curl up in a ball and die.
Read More “Deloitte Publishes “Study” Bashing Shale Oil – Says Shale has Peaked”
OTHER U.S. REGIONS: Tellurian names Souki as executive chairman; NATIONAL: Oilfield services and equipment sector loses 15,000 jobs in May; U.S. feed gas deliveries for LNG rebounds, but more cargo cancellations likely; Trump administration allows Chesapeake to suspend drilling on over 100 leases; KBR to focus on government contracts, quit natural gas, energy business; Supreme Court unleashing power over pipelines, natural gas; INTERNATIONAL: Everyone suddenly wants higher oil prices; India launches its first natural gas exchange.
Read More “Shale Energy Stories of Interest: Tue, Jun 23, 2020”
Each quarter the Ohio Dept. of Natural Resources (ODNR) issues an update on Utica (and Marcellus) oil and natural gas production. Until the recent blowup of the ODNR website (still only partially restored) ODNR would issue a detailed list of all active wells with production by well. No more. That report is missing from the latest quarterly high-level update from ODNR covering first quarter 2020 numbers. What we can tell you, based on the information that has been released, is that production between 4Q19 and 1Q20 was down significantly.
Read More “Ohio Utica Oil and Gas Production Takes a Tumble in 1Q20”
Equitrans Midstream’s 303-mile Mountain Valley Pipeline (MVP) project is now 92% complete and will be done and online in early 2021 (see Mountain Valley Pipe Will be Done and In-Service Early 2021). While Equtrans was building MVP a lightbulb went off and the company had a great idea. Why not extend MVP, which runs from West Virginia to southern Virginia, by another 75 miles into North Carolina? This new project is called MVP Southgate–and the Federal Energy Regulatory Commission (FERC) has just fully approved it.
Read More “FERC Approves Mountain Valley Pipeline Southgate Extension to NC”
New Fortress Energy, which likes to build and own as much of the LNG supply chain as possible, has built and recently finished an LNG import terminal in San Juan, Puerto Rico. Just one teeny, tiny problem: New Fortress didn’t get permission from the Federal Energy Regulatory Commission (FERC) before building it. Puerto Rico is a U.S. territory and subject to U.S. laws and regulations, including the regulation that requires FERC approval *before* building such a facility. Luuuucy, you have some ‘splainin to do!
Read More “FERC Orders New Fortress to Explain Unauthorized PR LNG Facility”
In April 2019 President Trump issued an Executive Order directing the Secretary of Transportation to write a new rule allowing specially constructed tanker cars for railroads (DOT-113 tank cars) to ship LNG, i.e., liquefied natural gas (see Here Come the “Bomb Trains” – Trump to Allow LNG by Rail). It took a while, but after a year-long process the final regs are ready, and soon after they are published in the Federal Register, they go into effect. Hallelujah!
Read More “PHMSA and Fed Railroad Admin Publish Final LNG by Rail Regs”
In the American system of justice, when someone is accused of committing a crime, they are presumed innocent under the law until it is proven, in a court of law, they have committed said crime. But when a defendant, someone accused of committing a crime, is a fossil fuel company, that defendant is automatically presumed to be guilty. There is no presumption of innocence. That’s what is happening to Cabot Oil & Gas.
Read More “Enviro-Left Threatens CEO if Cabot Doesn’t Cop to Crimes”
Not even Andrew Cuomo, as grossly corrupt as he is, has thought up something this vile and evil–using the currently toxic environment of race relations across our country as a means to block all new fossil fuel energy projects–specifically pipelines, compressor stations and power generating plants–by declaring such projects racist by definition. That’s what will happen in New Jersey if a new bill, Senate Bill 232, becomes law.
Read More “NJ Law Would Stop ALL New Energy Projects by Invoking Racism”