External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about capacity markets, LNG prices, energy crisis in Iraq and much more last week.
The Shale Gas News has grown again to the Williamsport area on stations WEJS 1600 AM & 104.1 FM. 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 and now the Williamsport area. The Shale Gas News is aired on Saturday or Sunday depending on the station.
Every Saturday Rusty Fender, Matt Henderson and I host a morning radio show to discuss all things natural gas. This week, as a guest, we had Tom Gellrich, CEO and Founder of TopLine Analytics.
The Shale Gas News, typically, is broadcast live. On the February 8th show (click above), we covered the following new territory (see news excerpts below):
- Coronavirus ‘Hammering’ Already Low LNG Prices. An oversupplied global gas market has come under even more pressure in the last week as prices in Northeast Asia declined on growing uncertainty about how the coronavirus outbreak in China might impact demand there. While just two U.S. liquefied natural gas (LNG) cargoes have departed for China since early last year given the trade rift between the two countries, weakening sentiment there is weighing on global prices that were already trading at unprecedented lows for this time of year.
- FERC’s Glick urges broader commission look at capacity markets, states’ rights. The Federal Energy Regulatory Commission must revisit mandatory capacity markets and how regions ensure resource adequacy or risk putting in peril the future of regional transmission organizations, FERC Commissioner Richard Glick told state officials in an address that was highly critical of recent agency actions that could undermine state sovereignty over the generation mix. FERC in December directed sweeping changes to the PJM Interconnection’s capacity market and in 2018 approved ISO New England’s move to a two-stage capacity auction process.
- Parsley Energy CEO debuts ‘shale new deal’ in appeal to Generation Z. The oil and gas industry faces an existential crisis caused by Wall Street dissatisfaction and a belief by most teens that the industry does more harm than good, Parsley Energy CEO Matt Gallagher warned on Wednesday at the NAPE Summit in Houston. Known for embracing social justice causes and fighting pollution that causes climate change, Generation Z is defined by Pew Research as those born between 1997 and 2012. Their views about oil and gas, as well as declining enrollment in university petroleum engineering programs, have placed that generation on a collision course with the industry, Gallagher said.
- Iraq Is On The Brink Of An Energy Crisis. As the deadline for the U.S. to renew its waiver on Iraq importing gas and electricity from Iran approaches later this month, the three key players in this ongoing geopolitical saga have been preparing for all possible outcomes. As always in the global hydrocarbons markets, particularly in the Middle East, nothing is what it seems on first sight, with each of the main countries involved looking at outcomes that go way beyond mere gas sales.
- Mark Ruffalo Calls On European Parliament To Block New Gas Projects. Mark Ruffalo, start of the Hulk movies, waded into a contentious debate today in Brussels over whether the European Union should fund new gas infrastructure projects. The European Investment Bank, the EU’s lending arm, pledged last year to end support for fossil fuels by 2022. But in devising this year’s list of projects eligible for EIB funding, the European Commission decided that natural gas infrastructure should not be part of the funding ban – because it could be used for future carbon-free green gas such as hydrogen.
- Jim Cramer Succumbs to the Dark Side – “Done with Fossil Fuels” – Jimmy Cramer was one of the last Democrats of national prominence we actually respected. No more. Cramer has succumbed to the Dark Side of the Force. In a recent CNBC interview Cramer blurted out: “I’m done with fossil fuels. They’re done. They’re just done.” Later in the interview he called fossil fuels, “tobacco.”
- Chesapeake 4Q19 Update – Using Pad Compressors in Marcellus. Chesapeake Energy released preliminary 2019 fourth quarter production and operational results yesterday. The company said it’s making progress with reducing its mammoth debt. Oil production, which the company increasingly focuses on, was 6% higher in 4Q19 than 4Q18. But the stock price remains low, bumping along just above $0.50 per share (in danger of being delisted, see NYSE Warns Chesapeake Energy Stock to be Delisted…Unless). As always, our interest is in Chesapeake’s prolific Marcellus program. Although the Marcellus only gets a brief mention in this update, what they said certainly caught our attention.
The Shale Gas News sponsored by Linde Corporation