External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM and Sundays on YesFM, talked about natural gas consumption, Trans-Alaska Pipeline, Marcellus wells and much more last week.
The Shale Gas News has grown again; welcome Gem 104 as our FOURTH station! Gem 104 helps to solidify the Shale Gas News coverage in an important Marcellus region, PA’s northern tier. The Shale Gas News is now broadcasting in Bradford, Lackawanna, Lancaster, Lebanon, Luzerne, Lycoming, Pike, Sullivan, Susquehanna, Tioga and Wayne Counties, as well as in greater central PA. The Shale Gas News is aired on Saturday or Sunday depending on the station.
Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as a guest, we had Charles Schliebs, Managing Director at Stone Pier Capital Advisors, LP.
The Shale Gas News, typically, is broadcast live. On the January 6th show (click above), we covered the following new territory (see news excerpts below):
- The U.S. Just Burned the Most Natural Gas Ever. The U.S. burned the most natural gas ever on Monday, breaking a record set during the so-called polar vortex that blanketed the nation’s eastern half with arctic air in 2014. America consumed 143 billion cubic feet of gas as temperatures dipped to all-time lows on New Year’s Day, topping the previous high of 142 billion from four years ago, data from PointLogic Energy show. Prices for the heating fuel rose to the highest in a month.
- New England’s Lack of Pipelines = Most Expensive Gas in the WORLD. Baby it’s cold outside! This was predictable (and indeed, MDN did predict it). With the arrival of an extended cold period, because of a lack of natural gas pipeline capacity in New England, recent spot prices for natgas near Boston have spiked to more than $35 per thousand cubic feet (Mcf). It gives New England the dubious distinction of paying the highest average price for natural gas in the entire WORLD. The price for the same gas about 250 miles away in the Marcellus? Between $1-$2/Mcf.
- Fossil fuel divestment an empty gesture. Divesting from fossil fuels has real costs for colleges like Johns Hopkins — endowment costs that are transferred to students with no benefit to the environment. According to a report we commissioned, the financial impacts of divestment from trading, compliance and diversification losses leads to an average 15.2 percent drop in transfers from endowment accounts to school programs, translating to increased annual tuition rates, scholarship losses and reductions in faculty spending.
- IPAA, Western Energy Alliance applaud full repeal of hydraulic fracturing rule. The Independent Petroleum Association of America (IPAA) and Western Energy Alliance released statements last week welcoming the Department of the Interior’s decision to repeal a federal rule regulating hydraulic fracturing. The Obama Administration’s Bureau of Land Management (BLM) issued the final rule on March 20, 2015, which placed regulations on hydraulic fracturing on federal lands.
- Alaska oil pipeline volume increases for second consecutive year. FAIRBANKS—The amount of oil transported through the trans-Alaska oil pipeline system increased for the second straight year in 2017, the Alyeska Pipeline Service Co. reported Tuesday. With a daily average of 527,323 barrels, the pipeline moved almost 192.5 million barrels in 2017, a 1.5 percent increase over 2016’s 189.5 million barrels, according to an Alyeska news release.
- Marcellus Wells to be Drilled at Pittsburgh’s Oldest Working Steel Mill. Pittsburgh’s oldest still operating steel mill, U.S. Steel Corp.’s Edgar Thomson steel mill, may soon be home to more than just a foundry. A privately owned oil and gas company headquartered in New Mexico–Merrion Oil & Gas Corp.–has signed a lease with U.S. Steel to drill a series of six (possibly more) shale wells on the Edgar Thomson Works property in Allegheny County. The plan is to drill one Marcellus well to begin with, and after testing, expand that with five more Marcellus wells. However, Merrion is not ruling out deeper wells to tap the Utica.
- Seneca Resources 100% PA Utica Focused by ‘End of Fiscal Year’ – While Buffalo “Marcellus” Bills owner Terry Pegula’s JKLM Energy has been “steadily increasing activity” in Potter County, PA (northcentral PA) grabbing headlines, another company, National Fuel Gas (NFG) subsidiary Seneca Resources, is also active in Potter and several neighboring northcentral PA counties (Cameron, McKean, Elk, and Lycoming). We spotted a pair of stories in a local newspaper recounting Seneca’s activity to date, and outlining plans for the future. One statement in particular stood out for us: Seneca will be “shifting to 100-percent Utica development by the end of this fiscal year.”
The Shale Gas News sponsored by Linde Corporation