External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM talked about Invenergy, methane emissions, drilling budget cuts and much more last week.
Every Saturday, Kevin Lynn of Linde Corporation and I co-host a morning radio show to discuss all things natural gas. This week we had Mike Atchie as a guest.
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The Shale Gas News is typically broadcast live and our January 23rd (click above). We covered the following new territory (see news excerpts below):
- Power plant opposition group withdraws lawsuits against borough, developer. Invenergy and the Borough of Jessup contended that the two lawsuits were “frivolous” and filed a petition for an appeal bond that appellants from Citizens for a Healthy Jessup would have to pay to continue the lawsuits.
- Wolf pursues methane emissions reduction plan. To reduce methane emissions, the second most prevalent greenhouse gas, into the atmosphere from Marcellus Shale wells, compressor stations, processing facilities and pipelines.
- 4 Biggest Marcellus Gas Drillers Cutting Budgets 53% This Year. Chesapeake Energy, Southwestern Energy, Cabot Oil & Gas and Range Resources. Together (as you’ll see below) they are cutting their drilling budgets by more than half this year.
- Why Cabot will continue to see downside. Everything about Cabot’s current plan for capex indicates that it wants to scale back production and reduce its susceptibility to the underlying price environment.
- Energy slump bleeds into housing market in Western Pennsylvania. Energy-rich states such as Texas, Oklahoma and North Dakota also had more foreclosures last year, even as foreclosures decline nationwide.
- 5th Marcellus Gas-Powered Electric Plant Coming to New Jersey. The 640 megawatts facility will cost $1 billion to build, power 700,000 homes during peak summer months, and use lots of Marcellus Shale gas from Pennsylvania to power it.
- Governor Cuomo Bans Fracking, Announces Major Climate Plan Powered by Natural Gas. But the real backbone of the plan to reduce emissions is, of course, an even greater increase in natural gas use. Since New York has banned fracking, that gas will have to be imported.