Natural Gas NOW readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy.
Here’s more material sent along by Natural Gas NOW readers; great stuff highlighting the power of natural gas and the absurdity of fractivism. Check out the links and other short bits below:
From the “if you can’t beat ’em, them join ’em” category:
Saudi Aramco, the world’s largest oil exporter, is set to join the shale revolution with plans to start producing unconventional natural gas this month and exploit a deposit that could rival the Eagle Ford formation in Texas.
Saudi Arabia’s gas resources from shale and other alternative supplies are “huge,” Khalid Al Abdulqader, general manager of unconventional resources at Aramco, said Wednesday in Manama, Bahrain. Production at the kingdom’s North Arabia basin will start by the end of March and reach its target by the end of this year, he said, without giving details…
State-run Aramco, formally known as Saudi Arabian Oil Co., plans to spend $300 billion on projects over the next 10 years to maintain its spare production capacity for oil and boost exploration for and output of conventional and unconventional gas, Chief Executive Officer Amin Nasser said in July. Any increase in supplies of gas drilled from shale and other hard-to-access rocks would free up crude that Saudi Arabia uses in its power plants, enabling the country to export the oil for a bigger profit.
Using shale gas to increase profits on oil; What can’t it do?
Cabot Oil & Gas just keeps getting more productive:
Cabot Oil & Gas [is] at the top of a list of the most productive operators in the Marcellus shale in Appalachia, according to private equity firm Baird Equity Research.
Baird’s analysis ranks operators based on consistency and the magnitude of productivity and revenue changes over the past two years. The rankings do not indicate which operator produces more. The analysis is intended to provide insight into recent trends and indicators on future productivity.
In Baird’s analysis, an index value of 100 indicates that an operator increased its productivity per average well by $100,000/month, or an increase in revenue of $2.4mn over the two-year period.
Cabot, the top ranked operator, had an index value of 221 with average revenue increase of $5.1mn/well…
Cabot last month said it plans to spend $950mn on capital expenditures this year and will operate three rigs and employ two completion crews in the Marcellus. Cabot will soon have increased takeaway for its output on the 1.7 Bcf/d (48mn m³/d) Atlantic Sunrise pipeline, and through a deal to sell 338mn cf/d through the Cove Point LNG terminal. Cabot’s fourth quarter production sales volumes reached 1.77 Bcf/d…
All of the Marcellus producers analyzed by Baird had an increase in productivity over the past two years. Conversely, all operators in the nearby Utica shale had a decline in productivity.
This is why Cabot Oil & Gas is one of our favorite companies; they have their eye on the ball.
Trust-Funder Tom Wolf is so unengaged, so disconnected from reality and so willing to lie on environmental issues that even fractivist tool StateImpactPA is now noticing:
At the top of Governor Tom Wolf’s list of accomplishments on his reelection campaign website is an inaccurate claim he instituted a moratorium on natural gas drilling.
The site says one of the Democrat’s first actions was to enact a “gas drilling moratorium on Pennsylvania’s state parks.”
There are two things wrong with that statement.
First, Wolf did not stop natural gas drilling on state land. Instead, he reinstated a ban on leasing new land. That’s an important distinction. Gas production was and still is occurring in state forests.
Second, state parks—where there is more public recreation—have never had any Marcellus Shale gas development.
Former Governor Ed Rendell, a fellow Democrat, leased approximately 130,000 acres of state forest land to natural gas companies before instituting a moratorium on future leasing during his last year in office. His successor, Republican Governor Tom Corbett, issued an executive order to expand leasing in a limited way. In early 2015, Wolf followed through on a campaign promise to reinstate the Rendell-era moratorium.
I could have provided StateImpactPA with a third reason Tom Wolf’s claim is false but they don’t call me much. They won’t even replay to my e-mails, in fact. If they had asked, I would have pointed out much of our state land doesn’t include mineral rights, which are owned by heirs of parties who sold or gave the land to the Commonwealth. The Governor is no position to stop natural gas drilling on those state lands.
Tom Wolf is not to be trusted. Ask Delaware River Basin landowners who are being treated by the governor as if they were lower caste untouchables.
Did you know Range Resources has been operating in Pennsylvania for some 25 years?
Between 2004 and 2007, Range invested approximately $150 million acquiring additional acreage, drilling multiple vertical wells, and testing horizontal wells. Those tests proved successful and set the stage for Range to enter a new era of horizontal drilling that has taken the company from natural gas sales of 100 million cubic feet of natural gas per day in 2009, to 200 million in 2010, 500 million in 2012, and an average daily production of 2.0 billion cubic feet equivalent in 2017.
Several “firsts” have also been achieved along the way – from recording the highest 24-hour production rate ever for a Marcellus well in 2015, to becoming the first North American company to export ethane (a natural gas liquid) to Europe in 2016, to setting a record for the longest Marcellus laterals drilled to date in 2017.
Range’s success is a measure of the success of shale revolution and what a great thing it is to see!
U.S. Natural Gas Produces 36% More Energy Than U.S. Oil
Our New Hampshire correspondent Patrick Leary passes along this data that provides more insight on the shale revolution:
And, don’t forget; the shale revolution is more than gas. It’s also oil today and why the U.S. is now dominant in energy production. The shale revolution has restored us to king of the hill.
DRBC’s Office Closed 3/8/18 due to Power Failure
Yes, that was the headline of a now disappeared post on the DRBC website. It said the offices were closed due to a power failure that knocked out both their electricity and phones.
Perhaps it offered an opportunity for some reflection by the combination of cowards, ideologues and shills who work there, entertaining ways to deny natural gas to fuel the power plants near them.
Perhaps they thought about how vulnerable we all are without energy to power our lives and keep use warm.
Well, it’s nice to dream they might be thinking that way, but…