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Shale Gas News – July 8, 2017

shale gas news - desRosiers_headshotBill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

 

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM and 1510 AM, talked about gas prices, tourism, commodity prices and much more last week.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week we had Fred Pope, Vice President / General Manager at Kenworth of Pennsylvania as a guest.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the July 8th show (click above), we covered the following new territory (see news excerpts below):

  • Independence Day Gasoline Prices Lowest Since 2005 — Thanks to Fracking! Americans hitting the road this extended Fourth of July weekend are doing so on the cheap, thanks to the lowest Independence Day gas prices since 2005. GasBuddy, a nationwide price monitoring site, has projected a gallon of gas will cost drivers an average of $2.21 over the holiday. That’s good news for the record 37.5 million expected to hit the roads over the Fourth of July and strong proof that America’s renewed shale boom is having positive impacts across the economy.
  • Myth Busted: Tourism Industry Is Thriving in America’s Top Oil & Gas Producing States. The idea that fracking and tourism can’t coexist is something that has been perpetuated by anti-fracking activists eager to ban the practice in states like Maryland and Florida. But there’s a problem with the claim that fracking and tourism can’t co-exist: it’s false. In fact, America’s top oil and gas producing states also have thriving tourism industries.
  • Energy commodity prices declined more than other commodities in the first half of 2017. The energy component of the Standard and Poor’s Goldman Sachs Commodity Index (GSCI) fell 11% during the first half of 2017, the largest decline for any commodity group in the index. Other components of the index—livestock, industrial metals, precious metals, and agriculture—had end-of-June prices that were higher than at the beginning of the year.
  • After Dismal 2016, Shale Gas Drillers Begin to Turn a Corner.  Pennsylvania’s moribund drilling industry, which has struggled with persistently low prices and a dearth of infrastructure to get its product to market, is showing signs of life. Natural gas producers drilled 397 shale wells through the first six months of 2017, more than twice the number they sank in the same period last year. About 20 additional drilling rigs are exploring for natural gas. Fracking crews are suddenly in short supply.
  • CONSOL Energy CEO Bends the Ear of Trump Cabinet @ White House. Last week was “Energy Week” at the White House. At a big speech and confab on energy, held at the White House, President Trump delivered a speech highlighting six new initiatives that will help America become energy dominant. One of the invited guests from industry at that speech/confab was CONSOL Energy CEO Nick Deluliis. CONSOL has transformed itself in a little over a decade from being a coal company to becoming a powerhouse Marcellus/Utica driller.
  • Baker Hughes and GE Complete Merger, World’s 1st Fullstream Co. As of Tuesday, the world now has its first and (so far) only “fullstream” company–a company that ticks all of the boxes in the oil and gas section–upstream, midstream and downstream. In October 2016 MDN brought you the news that GE Oil & Gas was making a play to buy out and merge in Baker Hughes Inc. The merger faced its share of challenges, but compared to Halliburton’s attempt to buy Baker Hughes, which was denied by the Obama Dept. of Justice, this merger was a piece of cake.
  • Ambulance Service Sues Rice Energy for $27K re Jan. Well Pad Fire. In January, MDN reported on a well pad fire at Rice Energy’s Papa Bear well pad in Somerset Township (Washington County), PA. Although no one was hurt, the explosion and fire ended up ruining six of the 20 pumps, and damaging four pumper trucks. As might be expected, local first responders were called to the scene, including four ambulances from Bearcat EMS Inc. Following the initial incident, Bearcat sent a bill to Rice for $26,742 to cover their costs of responding.

The Shale Gas News sponsored by Linde Corporation

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