Shale Gas News – January 12, 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 LNG record highs, Rogersville Shale, 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.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the January 12th show (click above), we covered the following new territory (see news excerpts below):

  • U.S. Liquefied Natural Gas Hits Record Highs Again. Over the final week of 2018, U.S. feedgas for LNG exports surpassed 5 billion cubic feet per day for the first time ever. This is an increase of over 60% for the same time in 2017. LNG is now 4% of total U.S. gas needs and remains our largest incremental market going forward.  Bolstered by an easing of the trade war with China, the largest new gas user in the world (with nearly 15 regasification terminals scheduled to come on line 2020-2023), 2019 will be the “biggest year ever” for U.S. LNG.
  • House Democrats introduce bills banning oil, gas leasing in nearly all federal waters. Washington — Democrats in the House of Representatives introduced Tuesday seven separate bills aimed at blocking oil and natural gas drilling in nearly all federal waters. The bills, which have virtually no chance of being approved in the Republican-controlled Senate, clearly outline the opposition from the Democrat-controlled House to the Trump administration’s developing plan to open more offshore areas to oil and gas production.
  • Report: Natural gas boomed in 2018 with help of Permian, Haynesville. The U.S. was on track to export more natural gas than it imported for a second year in row at the end of 2018 as production and domestic consumption swelled in the first 10 months of the year, according to a report from the Energy Department.  Through October, dry natural gas production in the United States was 11 percent higher in 2018 compared with the same period in 2017.
  • Gov. Wolf, gas utility unveil climate plans. Pennsylvania Gov. Tom Wolf said he has ordered an ambitious plan to cut greenhouse gas emissions, on the same day that one of the state’s utility companies announced it will use state-of-the-art technology to reduce methane emissions.
  • Rogersville Shale Test Wells in KY, WV Appear to be a Flop. The clock has run out on state confidentiality laws and results are now available for several test wells drilled in both the Kentucky and West Virginia in the Rogersville Shale–and the results are rather lackluster. NGI ace reporter Jamison Cocklin has been checking records in records recently released to the public and found the following: Test results from the Rogersville Shale in Eastern Kentucky and Southwest West Virginia continue to trickle out, but activity in the unproven play remains stagnant.
  • Chesapeake Cuts New Deal to Pay Top Management Big Bucks. Chesapeake Energy has just released details of new deals to keep in place its CEO and four executive vice presidents for the next three years, paying them all big bucks to stick around. How much money? The official paperwork filed with the Securities and Exchange Commission only reveals base salary, which is small portion of each person’s overall compensation package.
  • Antero Resources 2019: Spending & Drilling Less, Producing More. Antero Resources, a “pure play” driller focused on wet gas drilling in the Marcellus/Utica region, released its 2019 capital budget and production “guidance” (estimates) yesterday. We found some interesting things in the press release and accompanying slide presentation.  Right out of the chute Antero says because oil and NGL prices have recently declined (and because NGLs are key part of Antero’s business), the company will spend less in 2019 to drill than it did in 2018.

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