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Shale Gas News – May 5, 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 Ohio cracker plant, Clinton Sandstone wells, Mariner East 2 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 guests, we had Tom Shepstone of Natural Gas NOW and Nancy Dooling, a master gardener from Susquehanna County.

Shale Gas News

EnverVest drilling in the Clinton Sandstone formation

The Shale Gas News, typically, is broadcast live. On the May 5th show (click above), we covered the following new territory (see news excerpts below):

  • PTT Buys Another 300+ Acres for Belmont County, OH Cracker. In yet another very good sign that the proposed PTT Global Chemical ethane cracker plant in Belmont County, OH is headed for a positive final investment decision (FID), PTT has just purchased another 300+ acres to go along with the previous acreage they purchased as the site for the future cracker/petrochemical project. Last July MDN reported PTT had spent $13.8 million to buy 168 acres at the proposed site for a second Appalachia ethane cracker, in Belmont County, OH.
  • EQT Pay Dispute – Comparing CEO Salaries for Top M-U Firms. In mid-March, the country’s #1 producer of natural gas, EQT, suddenly and without previous warning lost it’s President & CEO, Steven Schlotterbeck. Steve is the man who guided the company through its acquisition of Rice Energy last year. It was a tough battle against multiple corporate raiders who didn’t want to see the deal happen, but Steve held it together and made it happen. The notice from EQT was short and sweet and said Steve had resigned immediately, due to “personal reasons.”
  • 2 Horiz. Clinton Sandstone Wells Drilled in Ashtabula County, OH. Once upon a time the Clinton Sandstone layer was the most drilled rock layer in Ohio. Then the Utica/Point Pleasant came along and it seemed as if everybody forgot about the Clinton. Previously the Clinton was drilled vertically, or conventional-only. But what if you drilled the Clinton horizontally, like you do in the Utica? You might get a “Utica-lite” well, as we commented back in 2015. EnverVest, among others, has experimented with horizontal drilling in the Clinton Sandstone.
  • Philly Dem Senator Tries to Shut Down ME2 Pipe Construction. A Chester County, PA (Philadelphia area) Democrat State Senator by the name of Andy Dinniman (who we think looks like Tony Soprano) continues his mission to stop the Mariner East 2 (ME2) project. This is nothing new for Dinniman. He’s been agitating and lobbying and demanding and pouting for over a year in his quest to shut down ME2. According to a press release from Dinniman issued last Thursday, the Senator has filed “a formal legal complaint and a petition for interim emergency relief with the Pennsylvania Public Utility Commission (PUC) to prohibit construction of the Mariner East 2 (ME2) and Mariner East 2X (ME2X) pipelines in West Whiteland Township.”
  • Range Resources 1Q18: Drills 2 Longest Marcellus Wells Ever! Range Resources, the very first driller to sink a well in the Marcellus Shale, provided their first quarter 2018 update yesterday. And what an update it was! First thing that jumped out for us is that Range says they drilled “the two longest laterals to date by Range at 18,129 feet and 17,875 feet.” We checked, and the previous record holder for drilling the longest Marcellus well was EQT, which drilled a Marcellus well with a lateral of 17,400 feet long in Washington County last December. Although Range isn’t claiming they’ve drilled “the longest Marcellus well ever”–they actually have!

The Shale Gas News sponsored by Linde Corporation

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