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. reserves, energy infrastructure, EQT settlement 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 Jim Scherrer and Steve Krug founders of CHP-Funder.com.
The Shale Gas News, typically, is broadcast live. On the December 1st show (click above), we covered the following new territory (see news excerpts below):
- U.S. crude oil and natural gas proved reserves set new records in 2017. High prices and continued development of shale and tight resources drove proved reserves of both U.S. crude oil and natural gas to new records in 2017, according to EIA’s recently released U.S. Crude Oil and Natural Gas Proved Reserves report. Proved reserves of U.S. crude oil increased 19.5% from the end of 2016, reaching 39.2 billion barrels and surpassing the previous peak level of 39.0 billion barrels set in 1970. Proved reserves of natural gas increased 36.1% from the end of 2016 to reach 464.3 trillion cubic feet (Tcf) in 2017, surpassing the previous record of 388.8 Tcf set in 2014.
- Perry again calls for US energy infrastructure plan, cites national security. Washington — US Secretary of Energy Rick Perry on Thursday reiterated his arguments that energy infrastructure is critical to national security, echoing a theme that has percolated in the national debate about whether new measures are needed to prop up coal and nuclear power plants and promote natural gas pipeline projects.
- Texas, Oklahoma Said Top Two Most Attractive Places Worldwide for Oil, Natural Gas Investments. Nine of the world’s top 10 places to invest in global oil and gas are in the United States, including eight states, according to the Fraser Institute’s annual survey. The 12th annual Global Petroleum Survey by the Canadian-based research firm quizzed 256 petroleum industry executives and managers regarding barriers to investment in oil and gas exploration and production around the globe.
- US on verge of producing all the oil, gas it needs. Surging oil and natural gas production in the United States and Canada is just shy of being enough to fulfill the region’s demand, a remarkable shift from the days of massive imports from the Middle East, according to an international energy report. The latest Global Production Report from the International Association of Oil & Gas Producers said that North America is producing 83 percent of the oil it needs even at a time when all markets are experiencing greater demand.
- Encino Plans to Continue Expanding in OH Utica. Earlier this month Encino Acquisition Partners (i.e. Encino Energy) completed its purchase of all of Chesapeake Energy’s Ohio Utica Shale assets for $2 billion, originally announced in July. The deal includes all of Chesapeake’s 933,000 Ohio acres–with 320,000 net Utica acres–and 920 operated and non-operated Ohio Utica wells. With the deal now done, Encino is signaling good things are ahead. Encino President and CEO Hardy Murchison recently spoke with S&P Global Platts about the company’s plans for the future.
- New Fortress Energy Building Second PA LNG Export Facility. Earlier this month MDN brought you the exciting news that New Fortress Energy (NFE) is planning to build an LNG (liquefied natural gas) liquefaction plant in Wyalusing (Bradford County), PA in order to export Marcellus gas. The $800 million plant will supercool and liquefy locally extracted Marcellus Shale gas and ship it first by truck, eventually by rail, to “customers in the U.S. as well as abroad.” NFE recently filed a Securities and Exchange Commission document called an S-1. In that filing, we learn some dynamite news: NFE is working on a *second* Pennsylvania LNG facility!
- EQT Avoids Trial, Settles WV Class Action re Royalty Deductions. Two weeks ago MDN told you about a class action lawsuit that’s been brewing in West Virginia since 2013, brought by 10,000 WV landowners and royalty rights owners against EQT over the company’s practice of deducting post-production expenses from royalty payments. The trial was set to begin this past Tuesday, but we’re just now learning that late last week EQT settled with the plaintiffs out of court.
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