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Shale Gas News – June 2, 2018

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, 1510 AM and Sundays on YesFM, talked about the Trans Mountain Pipeline, Shell Cracker Jobs, EQT 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 Jude Clemente, regular Forbes contributor and researcher at JTC Energy Research.

Shale Gas News

Steel pipe to be used in the oil pipeline construction of Kinder Morgan Canada’s Trans Mountain Expansion Project. REUTERS/Dennis Owen

The Shale Gas News, typically, is broadcast live. On the June 2nd show (click above), we covered the following new territory (see news excerpts below):

  • Canadian government to buy Kinder Morgan’s Trans Mountain pipeline. The Canadian government said on Tuesday it will buy Kinder Morgan Canada’s Trans Mountain pipeline project for C$4.5 billion ($3.5 billion) but does not intend to be the long-term owner of the project, which has faced fierce environmental opposition.  Finance Minister Bill Morneau said that buying the existing pipeline and its planned expansion project, which will carry crude oil from landlocked Alberta to a port in the Vancouver area, is the only way to ensure the halted project gets built.
  • PUC Orders 17 Utilities to Return $320+ Million to Consumers. The Pennsylvania Public Utility Commission (PUC) today issued an Order, requiring a “negative surcharge” or monthly credit on customer bills for 17 major electric, natural gas, and water and wastewater utilities, totaling more than $320-million per year. The refunds to consumers are the result of the substantial decrease in federal corporate tax rates and other tax changes under the Tax Cuts and Jobs Act (TCJA) of 2017, which impacted the tax liability of many utilities.
  • UC study finds no evidence of drinking water contamination from fracking. The three-year study found no relationship between methane concentrations in groundwater and proximity to natural gas wells.  A study of drinking water in Appalachian Ohio found no evidence of natural gas contamination from recent oil and gas drilling. Geologists with the University of Cincinnati examined drinking water in Carroll, Stark and Harrison counties, a rural region in northeast Ohio where many residents rely on water from private underground wells.
  • Financial Checkup for Marcellus/Utica Drillers. RBN Energy, headed by founder Rusty Braziel (co-founder of Bentek Energy), is, in our opinion, the premier oil and gas analytics firm out there. Smart people working at RBN. And they offer up some amazing content on their blog site–for free! At least it’s free for a while, then it goes behind a paywall. A few days ago RBN published a blog post on the financial health for the 44 major publicly-traded U.S. exploration and production companies (drillers). RBN groups them into three categories: Oil-Weighted, Diversified, and Gas-Weighted.
  • Shell Cracker Advertises First 40 Permanent Production Jobs. Although Shell has hired a few permanent workers for its mighty $6 billion ethane cracker complex currently under construction in Monaca (Beaver County), PA, the company has just (for the first time) posted a job notification for bulk hiring of permanent positions. The job notice, posted on the BrassRing HR website, provides a detailed job description for “Shell Production Operators” in Monaca–40 of them.
  • EQT’s Rise from Second-rate Utility to #1 U.S. NatGas Producer. Last year when EQT bought out and merged in Rice Energy, it became the largest natural gas-producing company in the United States. In the late 1980s EQT was known as Equitable Gas, a local gas utility company in Pittsburgh. It was a company with “poor customer satisfaction” (hence our provocative title of “second-rate” utility). So how on earth did a company that did no drilling rise to become the country’s biggest shale gas driller in under a decade? It started with the foresight of a previous CEO who saw the Marcellus as “the next big thing.”
  • Big Data Comes to EQT – Drilling Now Done Remotely from Pittsburgh. Back in 2015 MDN editor Jim Willis had an experience he won’t forget. Cabot Oil & Gas chief geologist Buddy Wylie gave Jim and landowner Chris Acker a personal tour of two wells being drilled on Chris’ property. Wyle is THE guy most responsible for Cabot’s enormously successful drilling program in Susquehanna County. As a reminder, Cabot (a single company) currently produces 2.2 billion cubic feet per day of natural gas out of Susquehanna County (a single county), representing 2.6% of ALL natural production in the U.S.! Jim won’t forget Buddy regaling us with the wonders of mud logging.

The Shale Gas News sponsored by Linde Corporation

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