Ever hear of something called the oil-to-gas price ratio? It’s a simple concept. You take the price at which oil is trading per barrel, and compare it to the price of natural gas trading per MMBtu (million BTUs). What can that ratio tell us about the natural gas market in general, and the Marcellus/Utica gas market in particular?
Read More “The Growing Gap Between Oil/NatGas Prices & What it Means for M-U”
It’s not only Russia and the Ukraine attempting to interfere in U.S. elections and our system of government. It’s also a British billionaire, by the name of Chris Hohn. A blockbuster investigative report reveals millions flowing from Hohn to push American cities and counties to sue American energy companies by using the false claim they cause “climate change.” It is an outrage and it must stop.
Read More “American Anti-Fossil Fuelers Funded, Controlled by British Billionaire”
MARCELLUS/UTICA REGION: Oil and gas industry, leaning on Pittsburgh region, punches back against fracking ban; OTHER U.S. REGIONS: California governor asked to stop oil, gas drilling and end permitting; Occidental starting widespread layoffs in Houston and beyond; NATIONAL: How global prices drive U.S. LNG cargo destinations; House Dems tout plans for net-zero GHG emissions by 2050; Warren wants to spend $1 million per ‘green’ job.
Read More “Shale Energy Stories of Interest: Thu, Jan 9, 2020”
The Lorax Judge strikes again. One year ago the Virginia State Air Quality Board, at the prompting of Gov. Ralph Northam, voted to approve a low-emissions compressor station for Dominion Energy’s Atlantic Coast Pipeline (ACP), to be built about an hour outside of Richmond, Virginia (see Va. State Agency Approves Atlantic Coast Pipe Compressor Stn). Big Green groups with deep pockets litigated that decision, making the disgusting claim that the compressor station is “racist” because it will be built in a community founded by emancipated slaves following the Civil War.
Read More “4th Circus Clown Judges Nix Va. Compressor Permit for AC Pipe”
Pennsylvania Gov. Tom Wolf’s Dept. of Environmental Protection (DEP), the agency charged with overseeing oil and gas drilling in the state, “blindsided” the shale industry in February 2018 with a proposal to hike the fee required when submitting an application to drill a new shale well by 2 1/2 times, or 250% (see PA DEP Plans to Raise Marcellus Well Permit Fee by 250%). The industry reacted, negatively. It’s taken nearly two years, but on Jan. 21 the DEP’s Environmental Quality Board will meet to finalize and activate the new insanely high fee schedule.
Read More “PA DEP to Finalize 250% Hike in Shale Permit Fee on Jan 21”
Huntington County, PA landowners Stephen and Ellen Gerhart have opposed the Mariner East pipeline project across their land from day one. They (and their daughter) have a long history of activism against the project. The Gerharts sued the builder, Sunoco Logistics Partners, in a bid to first block the pipeline, and later “restore” their property after it was built. In the end the Gerharts won a single, tiny concession–forcing Sunoco to recreate a swamp (i.e. “wetland”) on their property–all of 0.066 acres (meaning less than 1/10th of an acre–about the size of a big mud puddle). The Gerharts legal bills over the past several years have added up to $266,000. The attorneys asked the PA Environmental Hearing Board, a special court that hears appeals of DEP decisions, to make Sunoco and the PA Dept. of Environmental Protection (DEP) pay the bill. How much did they get?
Read More “PA Landowner Awarded Piddly for Legal Fees in Fighting ME Pipe”
The companies behind PennEast Pipeline, a $1.2 billion new greenfield pipeline project from Luzerne County, PA to Mercer County, NJ, have not given up on the long-delayed project. As we told you in November, PennEast plans to file an appeal to the U.S. Supreme Court (on Feb. 3) to overcome a lower court ruling that prevents PennEast from using eminent domain in New Jersey for some of the route (see PennEast Pipe to Appeal Bungled Fed Court Decision to US Supremes). Since the original Federal Energy Regulatory Commission (FERC) certificate authorizing construction of the project expires on Jan. 19, 2020, PennEast asked FERC to extend it another two years (see PennEast Pipe Still Hopeful, Asks FERC for 2-Year Extension). Three Big Green groups have filed an objection, asking FERC to kill the project now.
Read More “Big Green Groups Ask FERC to Deny PennEast Pipe More Time”
Yesterday the American Petroleum Institute (API) launched “Energy for Progress,” a nationwide TV and digital ad campaign highlighting the natural gas and oil industry’s leadership in reducing emissions to record low levels and supporting economic and environmental progress in local communities. One of the seven local communities highlighted was Moon Township, in Allegheny County, PA. Local workers and business owners appear in broadcast videos and digital ads.
Read More “PA Highlighted in New National Ad Campaign “Energy for Progress””
At the end of last year/beginning of this year we noticed several articles predicting what will happen with natural gas drilling in 2020. The upshot from the experts and prognosticators quoted is that drillers will “tap the breaks” and natural gas production will, at a minimum, stay flat through 2020. Perhaps even fall a bit.
Read More “Experts Predict Flat Shale Gas Production, Less Drilling in 2020”
A new study conducted by the University of California San Diego and published this week in the journal Nature Sustainability says 26,610 U.S. lives were saved from 2005-2016 as a result of increasing reliance on natural gas in electric power generation. That’s right–a liberal university published a study in a liberal journal that says natural gas SAVES LIVES. You may have to pinch yourself to see if it’s a dream!
Read More “New Study Finds Using Natural Gas Saved 26K Lives Over 11 Years”
OTHER U.S. REGIONS: ‘Forced march’ to heat pumps is bad policy; Sempra to open Houston office to support LNG business; NATIONAL: Low U.S. natural gas prices lock in more demand; The key distinction between U.S. energy independence and energy security; United States holds competitive advantage in natural gas industry.
Read More “Shale Energy Stories of Interest: Wed, Jan 8, 2020”
Yesterday Range Resources issued its 2020 budget plan, which calls for spending $520 million to drill mainly in Range’s Marcellus assets. That figure is down from the $728 million Range spent in 2019 (a 29% decrease). What about production? Will that drop in 2020 too?
Read More “Range Releases 2020 Budget: Spending 29% Less, Focus on Marcellus”
In a lawsuit filed last week, three couples who own land along the route of the Mountain Valley Pipeline (MVP) in Virginia, who don’t want the pipeline crossing their land, are trying to overturn federal approval of MVP by emasculating the Federal Energy Regulatory Commission. This is not the first time someone has tried to emasculate FERC using MVP.
Read More “Virginia Landowners Sue to Emasculate FERC in Bid to Block MVP”
On Jan. 15 the Pennsylvania Dept. of Environment Protection’s (DEP) Oil and Gas Technical Advisory Board will meet to hear a presentation on a draft Horizontal Drilling Pipeline Construction Guidance and stakeholder report. The so-called guidance is the first step in adopting new regulations (i.e. laws) to govern underground horizontal directional drilling (HDD) for pipeline projects.
Read More “PA DEP Proposes New Horizontal Pipeline Drilling Regulations”
Diversified Gas & Oil owns close to 8 million acres of leases with some 60,000 (mostly) conventional oil and gas wells. Their focus has been to acquire quality production and cash flow–regardless of the well or commodity type (gas or oil). They currently have over 400 M-U shale wells in their portfolio. In November Diversified closed on a deal to raise money via securitization–meaning to issue securities (“notes”) based on the value of their gas wells (see Diversified Gas & Oil Securitizes Appalachian Wells to Raise $200M). Turns out Diversified is a trail blazer in using wells as collateral.
Read More “Diversified Gas & Oil Blazes Trail Using Wells as Collateral”
Last week the U.S. Dept. of Energy (DOE) announced it has selected 16 projects to receive nearly $25 million in federal funding for cost-shared projects to advance natural gas infrastructure technology development. DOE’s Office of Fossil Energy will provide federal funding for these projects. Two of the 16 are located in West Virginia and will receive a cumulative $4.5 million of the $25 million (18% of the total).
Read More “DOE Awards $25M to Improve Natural Gas Ops, $4.5M Going to WV”