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 energy dominance, Nord Stream 2, PA’s shale drillers 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 Tom Shepstone of Natural Gas NOW.
The Shale Gas News, typically, is broadcast live. On the February 9th show (click above), we covered the following new territory (see news excerpts below):
- U.S. oil and gas boom powers nation’s fastest-growing industry. President Donald Trump said in his State of the Union address that the U.S. has “unleashed a revolution in American energy.” Indeed, after increasing production for years, the U.S. has become the world leader in oil and gas output, making extraction (or mining) the nation’s fastest growing industry in the next year, according to a new Oxford Economics report.
- BLM nets record revenue; Bernhardt touts ‘energy dominance’. Oil and natural gas lease sales on federal lands in 2018 set an all-time annual record for revenue, generating $1.1 billion and nearly tripling the previous record set a decade ago, the Interior Department announced yesterday.
- Albany moves toward oil, gas drilling ban. New York State’s Senate and Assembly have passed bills to prohibit drilling for oil and natural gas in New York coastal waters. The bill, which would apply to state-owned underwater coastal lands, also would bar the state’s Department of Environmental Conservation and its Office of General Services from authorizing leases that would increase oil or natural gas production from federal waters. The bill would also prohibit the development of infrastructure associated with exploration, development, or production of oil or natural gas from New York’s coastal waters.
- France Joins U.S. in Questioning Gas Pipeline Backed by Merkel. In a last-minute announcement, France agreed to back a European Union proposal creating hurdles for a controversial natural-gas pipeline, rejecting an appeal by German Chancellor Angela Merkel’s government. France intends to support an EU proposal on Friday that would give the bloc more say in the Nord Stream 2 pipeline being built between Russia and Germany, despite German objections, a Foreign Affairs Ministry spokesman said. Currently, the project is only subject to international regulations because it is being built between the EU and a country outside the bloc.
- Arsenal Resources Files for Speedy Chapter 11 Bankruptcy. The parent holding company for Marcellus driller Arsenal Resources, Arsenal Energy Holdings LLC, is applying for what has to be the fastest “prepackaged bankruptcy” we’ve ever heard of. Yesterday (Feb. 4) the company filed, claiming nearly all of its outstanding “stakeholders” are on board with the plan–and they aim to exit bankruptcy on Valentine’s Day, Feb. 14. Arsenal Resources says vendors don’t have to worry, it’s business and usual and everybody will get paid everything they are owed.
- Proxy War: Rice Brothers Say Top EQT Mgmt, Board Must Go. Let the fight begin. Yesterday the Rice brothers, Toby and Derek, held a conference call with EQT investors to lay out their detailed proposal for how EQT should be run. The Rice plan includes giving the boot to current EQT CEO Rob McNally and much of top management, and installing Toby as CEO, bringing along 15 Rice alumni to kick-start EQT’s “moribund performance” (our interpretation of what Toby said).
- List of PA’s 42 Shale Drillers – How Many Wells Drilled & Where. It’s good to step back every now and again and look at who is drilling, how much they are drilling, and where they are drilling. We have such a list below for the 42 active shale drillers in Pennsylvania. The Pittsburgh Business Times recently compiled several helpful lists, one of which chronicles all of the companies that drill (or manage shale wells) in the Pennsylvania Marcellus. It’s a fascinating list.
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