Shale Gas News – August 18, 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 U.S. shale growth, Keystone XL pipeline, EQT Midstream 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 we are replaying a speech from Tom Pyle, President of American Energy Alliance and Institute for Energy Research. Tom gave this speech a few weeks ago in Harrisburg at the Think About Energy Briefing.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the August 18th show (click above), we covered the following new territory (see news excerpts below):

  • US shale growth will offset global production problems over the coming months, analysts say. A sustained upswing in U.S. shale growth is likely to offset global production problems over the coming months, energy analysts told CNBC on Wednesday. The mood music in the energy market has been heavily influenced by a flurry of demand-side developments of late, with investors continuing to monitor an escalating trade war between the U.S. and China, the financial crisis in Turkey and a resurgent U.S. dollar.
  • U.S. judge orders review of TransCanada’s Keystone XL pipeline route. WASHINGTON (Reuters) – A federal judge in Montana has ordered the U.S. State Department to do a full environmental review of a revised route for the Keystone XL oil pipeline, possibly delaying its construction and dealing another setback to TransCanada Corp (TRP.TO). For more than a decade, environmentalists, tribal groups, and ranchers have fought the $8-billion, 1,180-mile (1,900-km) pipeline that will carry heavy crude to Steele City, Nebraska, from Canada’s oilsands in Alberta.
  • New York’s Attempt to Shutter A $900 Million Gas Plant Last-Minute Failed Miserably. A $900 million New York natural gas plant will begin producing energy for the state after a judge overruled a decision by the New York State Department of Environmental Conservation (DEC) to close the plant indefinitely, according to the oil and gas interest group American Petroleum Institute (API). The DEC notified Competitive Power Ventures (CPV) on Aug. 1 that the air permit needed for the company’s New York plant to operate would not be renewed because a change in regulation reclassified the plant under a new licensing bracket. CPV was forced to close the plant four days before it was scheduled to open.
  • Cabot, Seneca, Chief Ramp Up Production for Atlantic Sunrise. According to a report from BTU Analytics, the top three shippers who will soon flow natural gas along Williams’ Atlantic Sunrise Pipeline (ASP)–Cabot Oil & Gas, Seneca Resources and Chief Oil & Gas–have “nearly doubled” their rig counts over the past few months leading up to the imminent startup of ASP. The pipeline is due to go online any day now–by the end of August. Cabot has reserved 1 billion cubic feet per day (Bcf/d) of the 1.7 Bcf/d capacity of the new ASP.
  • Robert McNally New EQT CEO; Thomas Karam New EQT Midstream CEO. EQT finally has a new CEO. And we’re here to pat ourselves on the back as the first media outlet to name him–two weeks ago! MDN previously noted that for both EQT’s annual meeting in June, and then again for EQT’s quarterly update with analysts, “acting” CEO David Porges wasn’t anywhere to be found. Here were our exact words, two weeks ago today: “Porges also skipped yesterday’s quarterly analyst phone call to update big investors on the company’s performance (equally unheard of).
  • 100+ PA Landowners Sue EQT re Gas Storage Field Payments. According to Washington County, PA landowner Joe Raposky, EQT has been storing natural gas under his property in Finleyville without permission and without compensation since at least 2007. Last year Raposky asked EQT to compensate him and they refused. So Mr. Raposky has organized over 100 of his neighbors along with landowners who sit over top of other similar underground storage fields in the region, and on July 30 they filed a lawsuit against EQT. PA has some 60 gas storage fields spread across 26 counties in the state. The fields are used to temporarily store and then retrieve natural gas.
  • Chesapeake Settles NEPA Royalty Lawsuit for Pennies on the Dollar. Chesapeake Energy has, according to the Pittsburgh Post-Gazette, “reached a $7.75 million settlement agreement with about two-thirds of its Pennsylvania natural gas royalty owners.” At the end of last year Chesapeake Energy offered a $30 million deal to Pennsylvania landowners to settle claims the company had screwed them out of royalty money by artificially inflating post-production costs in an elaborate scheme to pocket more money at landowners’ expense. Chesapeake’s proposed deal last year would have given the average PA leaseholder (some 14,000 of them) a one-time $2,140 payment–adjusted up or down for the size of their acreage.

The Shale Gas News sponsored by Linde Corporation

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