External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM “The Talker,” talked about fossil fuel hatred, natural gas trucks and much more this week.
Every Saturday, Kevin Lynn of Linde Corporation and I co-host a morning radio show to discuss all things natural gas.
The Shale Gas News is typically broadcast live and this past Saturday’s program, the podcast of which is available here, covered the following new territory (see news excerpts below) and included an interview with State Rep Rick Saccone:
- Fossil fuel hatred run amok: Sierra Club against clean air in PA. The Sierra Club is against the Jessup electric plant project. Why? Because it will “encourage further natural gas hydraulic fracturing in Northeast Pennsylvania.”
- Invenergy won’t burn Keystone landfill gas. Running landfill gas through the three GE model 7HA.02 combustion turbines would violate the warranty on that equipment, Invenergy director of development John Niland said.
- US oil and natural gas rig count drops by 22 to 932. Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 22 this week to 932 amid depressed oil prices. A year ago, some 1,861 rigs were active.
- Fleets braking hard when it comes to natural gas truck buys. Projections were that 2015 would see a 5 percent penetration of NG heavy-duty trucks, but the sharp drop in oil prices starting in the fourth quarter of last year, the ACT Research report calls that optimistic.
- Cabot O&G 1Q15: Production up, revenue up, profits down. Net income – the money you keep after expenses – was down from $107 million in 1Q14 to $40.3 million in 1Q15 – a 62% drop year over year.
- PA drilling permits drop 30% Jan-Mar – How low will it go? Mark Marmo, CEO of Deep Well Services, said he believes more completions will be deferred if gas and oil stay below $60 per barrel and $3 per thousand cubic feet.
- U.S. shale fracklog triples as drillers keep oil from market. Drillers in oil and gas fields from Texas to Pennsylvania have yet to turn on the spigots at 4,731 wells they’ve drilled, keeping 322,000 barrels a day underground.