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Shale Gas News – March 3, 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 biogas, OPEC, Cove Point  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 Matthew J. Brouillette Founder, President & CEO of Commonwealth Partners Chamber of Entrepreneurs, Inc.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the March 3rd show (click above), we covered the following new territory (see news excerpts below):

  • Lawmakers Push for Transparency in Illinois Fracking Law. A set of bills introduced this month in the Illinois legislature would update the state’s fracking law to increase protections for land owners and require more information from oil and gas companies applying for fracking permits. Organizers from several environmental groups held a press conference Tuesday in Springfield to discuss three new pieces of legislation.
  • OPEC to meet with U.S. shale firms in Houston on Monday. OPEC will hold a dinner on Monday in Houston with U.S. shale firms, two industry sources said, the latest sign of the producer group widening talks about how best to tame a global oil glut. OPEC Secretary General Mohammad Barkindo plus other OPEC officials will attend the dinner, one of the sources said. A second source said the chief executives of U.S. shale companies of various sizes have been invited.
  • Officials: Biogas project doesn’t violate Invenergy pact. In the spring of 2015, Invenergy Vice President Dan Ewan vowed the power plant his company wanted to build could not and would never run on landfill gas. For a number of reasons, Chicago-based Invenergy LLC’s promise has to hold true. But as a new company seeks to refine waste gases released by decomposing trash in the Keystone Sanitary Landfill into large quantities of pipeline-quality fuel, it raises questions about just how Invenergy, well on its way to completing a 1,500-megawatt power plant off the Casey Highway in Jessup, can keep its promise.
  • Chesapeake Stock Soars w/Update; More Marcellus Wells in 2018. Yesterday the country’s second largest natural gas producer, Chesapeake Energy, issued its fourth quarter and full year 2017 update. Chessy CEO Doug Lawler began his comments during an analyst phone call this way: “2017 was another foundational year for Chesapeake as we continued to transform all aspects of our company.” Even though Chesapeake sold a number of assets and reduced headcount in 2017, production still rose 3% for the year. Lawler said he expects production to rise another 3% in 2018, even with a planned $2-$3 billion in sales of even more assets (what’s left to sell?).
  • Ships Line Up for Cove Point LNG – 1st Ship Docked. In late January, Dominion Energy CEO Tom Farrell reported that the company’s Lusby, Maryland Cove Point LNG export facility would become operational and begin to export LNG in “early March.” Then a few days later, Dominion issued a press release to say Cove Point had already begun producing LNG. The seeming contradiction is easy to explain. The “we’re now producing LNG” statement in late January was part of the commissioning process which began in December. Feed gas is imported and used for testing purposes, and is the final step before the plant goes online into full production.
  • Antero Resources – Thinking of Splitting Company in Two? The special committee is composed of independent directors from the Board of Directors. That is, the people doing the evaluating of what can be done to boost the value of the company’s stock do not directly work in or for the company. No vested interest. No dog in this fight–other than their responsibility to shareholders. This initiative by Antero began in January when the company issued a press release to say they would work with financial and legal advisors, “to evaluate various potential measures to address the discount in trading value of Antero’s stock relative to some of the premier U.S. large capitalization upstream independents that have a similar profile in terms of leverage, capital efficiency, production growth and free cash flow generation.”
  • PDC Energy Sells Remaining Ohio Utica Acreage for $40M. Nine months after announcing they will sell their remaining Utica Shale assets, PDC Energy has finally found a buyer. PDC, a long-time driller in the Wattenberg Field in Colorado and a driller the Ohio Utica, paused their Utica drilling program in 2015 (see PDC Energy Pushes Pause Button on OH Utica Drilling for 2015). In December 2015, the company announced they would restart Utica drilling in 2016 with plans to drill five wells. However, another shale play turned the head of PDC–the Permian Basin in Texas (an oil play).

The Shale Gas News sponsored by Linde Corporation

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One thought on “Shale Gas News – March 3, 2018

  1. Positive news for natural gas development and pipelines. I only wish our Governor and NY’s Governor would actually do research and not play politics all the time. Wayne County is waiting, hoping and praying to be part of this natural gas revolution so our country can be energy free.

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