CNX Resources | Energy Companies | Industrywide Issues | Range Resources Corp | Reserves (Proved and Unproved)
CNX, Range Resources Proved Reserves Both Go Up
It’s that time of year for energy companies to issue updates on just how much oil and gas they own in the ground, recoverable at current prices. Both CNX Resources and Range Resources, two major Marcellus/Utica producers, recently issued statements outlining their “proved reserves.” CNX has 7.9 trillion cubic feet equivalent (Tcfe) in proved reserves as of Dec. 31, 2018. Range Resources has 18.1 Tcfe in proved reserves.
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A partisan left-wing group calling itself the West Virginia Center on Budget & Policy along with another partisan left-wing group called the Institute for Energy Economics and Financial Analysis (IEEFA) released a report last week that claims WV’s shale industry has “fallen short” in delivering on economic promises, and the way to fix it is to boost the severance tax from 5% to 10%! Yeah, they’re out of their collectivist minds.
Although Dominion Energy’s 600-mile Atlantic Coast Pipeline (ACP) is facing serious delays and cost overruns mainly due to lawsuits brought by Big Green groups, the company is still committed to building the pipeline (see 
MARCELLUS/UTICA REGION: Meeting set on CNX gas well failure near Bear Run reservoir; Richmond-area charities receive more than $1.2 million as a result of 2018 Dominion Energy Charity Classic; Stockholm Syndrome: Westchester folks ask Cuomo for help with ConEd; New York State Teachers Retirement System raises stake in Chesapeake Energy; NATIONAL: Top 10 US shale portfolios; McConnell plans to bring Green New Deal to Senate vote; Power blocks in natural gas-fired combined-cycle plants are getting bigger; Pipeline fight drags on, tempting intervention from Trump; Green is the new Red; Natural gas lobby taps energy heavyweight; INTERNATIONAL: Pieridae Energy setting up $20 mln share sale; Germany, US seek to set aside spat over natural gas supplies.
This has to be a record-high amount for a fine plus remediation work, at least in the Marcellus/Utica. Antero Resources has cut a deal with three government entities–the U.S. Dept. of Justice, federal Environmental Protection Agency, and West Virginia Dept. of Environmental Protection–to pay a $3.15 million fine and spend another $8 million to mitigate and restore 32 sites in West Virginia.
Yesterday the Federal Energy Regulatory Commission (FERC) granted TransCanada’s Columbia subsidiary permission to begin a partial startup of the Gulf XPress Project that adds additional compression to the Columbia Gulf Transmission pipeline to flow more Marcellus/Utica gas to the Gulf Coast.
Ohio’s current Governor, Mike DeWine, is an establishment-type swamp dwelling Republican. DeWine was Attorney General for Ohio in November 2017 when he was manipulated into suing Energy Transfer claiming the Rover Pipeline project was guilty of “polluting state waters while constructing a natural gas pipeline across Ohio” (see 
The folks of Weymouth, Massachusetts have for years tried to block a new compressor station project, part of a Spectra Energy/Enbridge project to beef up capacity along the Algonquin Gas Transmission pipeline. Algonquin filed a lawsuit against Weymouth Town and its conservation commission in District Court of Massachusetts. The court ruled in Algonquin’s favor and the town appealed the ruling to the U.S. Court of Appeals for the First Circuit.
It is beyond bizarre that the Sierra Club, which claims it defends the environment, works so hard to stop electric generating plants from converting from coal to natural gas. As we pointed out yesterday, gas-fired plants produce a small fraction of nasty pollutants like sulfur dioxide, compared with coal (see 
Yesterday MDN brought you the story of a so-called acid rain permit issued to Pennsylvania’s largest natural gas-fired electric generating plant (see 
Pennsylvania Gov. Tom Wolf has just declared full-on war with Energy Transfer and its Sunoco Logistics subsidiary by directing the Dept. of Environmental Protection (DEP) to suspend all reviews of clean water permit applications and other pending approvals for all of ET/Sunoco’s pipeline projects in the state, including Mariner East 2 (ME2) and the Revolution pipeline project.
CNX Resources say they think they know why a Utica well they were fracking in Westmoreland County, PA suddenly lost pressure as they were fracking it–with gas escaping into nearby conventional wells.