Shale Gas News – April 6, 2019

Bill 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 gas storage, U.S. crude oil buyers, offshore drilling 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 Representative Fred Keller, serving his fifth term in the Pennsylvania House of Representatives..

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the April 6th show (click above), we covered the following new territory (see news excerpts below):

  • US to drive new-build underground gas storage capacity growth in North America. GlobalData oil and gas analyst Arpan Roychowdhury predicts the US will drive underground gas storage capacity in North America over the next four years. The US will account for 95% of North America’s new-build underground gas storage capacity between now and 2023, according to GlobalData.
  • Time to start oil drilling off the Atlantic coast and create jobs. In late March, an influential Senate committee held a confirmation hearing for David Bernhardt, President Trump’s nominee for secretary of the Department of the Interior. The hearing centered on the Interior Department’s five-year plan to expand offshore oil and natural gas development. Bernhardt is expected to finalize and release the plan in the coming weeks — and that’s great news for states along the Atlantic and Gulf coasts. Offshore development could bring thousands of new jobs and investments to coastal communities — as well as tax revenue benefits for schools and infrastructure.
  • Is fracking out of gas as a hot‑button Democratic issue? As the nation’s natural gas production booms, Democrats eyeing the White House may find themselves in a fracking fight.  The fossil fuel has been called a “bridge” that could wean the nation off coal and help curb climate change. But wells and pipelines can leak methane, which is much more potent then carbon dioxide, and fracking has been tied to water and health issues. With the Green New Deal now a leading issue heading into the presidential election, Democratic contenders may face increased pressure to clarify where they stand. And the issue could split Democrats as hydraulic fracturing splits rock.
  • Key Buyers Push US Oil Exports to Record Highs. Constantly evolving hydraulic fracturing and horizontal drilling technologies have opened up more U.S. petroleum resources than ever imagined. Crude production has boomed 140 percent over the past decade to 12.1 million barrels per day (bpd). During the course of 2018, for instance, output rose nearly 25 percent, even more impressive since domestic prices (WTI) had fallen 23 percent to $46 per barrel by the end of December. This flood of supply is just one of a number of key factors that have allowed U.S. oil exports to rapidly grow.
  • U.S. Oil, Gas Land Deals Plunge to 10-Year Low in First Quarter. Selling onshore U.S. oil and natural gas assets proved more difficult during the first quarter, and properties for sale, mostly in the Permian Basin, have declined as operators cautiously prowl for buyers, according to Drillinginfo.   Domestic merger and acquisition (M&A) deal values plunged to a record 10-year low in the first three months, the Austin, TX-based data analytics company said Thursday.
  • Rockefellers Bail on 100 Resilient Cities Initiative, Starter List for City Climate Suits. Thus far 2019 hasn’t been a stellar year for environmental campaigns. Now another one is ending, not with a bang, but with a redirection and new donation. The Rockefeller Foundation announced on Monday that it was ending its 100 Resilient Cities initiative, the largest privately funded climate-adaptation program in the U.S.  Instead, the Foundation announced a $30 million grant to the Adrienne Arsht Center for Resilience at the Atlantic Council and established a new Climate & Resilience Office to “integrate climate and resilience” throughout its work.
  • Trump to sign order seeking to clear gas pipeline hurdles: Kudlow. White House economic adviser Larry Kudlow on Wednesday said the Trump administration would soon issue an executive order that would open the door for more natural gas pipelines and exports of liquefied natural gas, or LNG. The administration, which is pushing a policy it calls energy dominance, has been considering an order that would push back against states, including New York, that have blocked interstate natural gas pipelines.

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