Shale Gas News – January 19, 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 the shale revolution, oil geopolitics, the Lackawanna Energy Center 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 played a podcast about the nuclear energy bailout in Pennsylvania from Kathleen Duffy Bruder, Attorney at McNees Wallace & Nurick LLC.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the January 19th show (click above), we covered the following new territory (see news excerpts below):

  • 4 things to watch this year at DOE. In 2018, Energy Secretary Rick Perry visited the Middle East and completed tours of all the national laboratories. This year, he could be making more treks to Capitol Hill as newly empowered House Democrats vow to investigate everything from the Energy Department’s solar grants to its connections with coal moguls.
  • Shale Revolution Slowing Some, but Still Breaking Records: EIA. 2018 oil growth of 1.58 MMBOPD is all-time high. The shale revolution will propel U.S. energy to unprecedented heights in the next two years, according to the EIA’s most recent Short-Term Energy Outlook (STEO). This month’s STEO is the first to include forecasts for 2020, giving the EIA’s view on U.S. oil and gas prospects over the next two years. Overall, the shale revolution is predicted to continue but slow in 2019 and 2020.
  • How natural gas will continue to play a role in reducing US carbon dioxide emissions. A new analysis of US carbon dioxide (CO2) emissions received wide media attention last week. Preliminary findings from the Rhodium Group showed that after three years of decline, US CO2 emissions had the largest single-year jump in two decades last year with an increase of 3.4 percent. The news prompted some observers to question the role of natural gas in helping to drive future emissions reductions.
  • A Primer on the Geopolitics of Oil. Last year was a wild one for the oil industry. Between January and October, oil prices rose to almost $80 per barrel — a 25 percent increase since the start of the year — thanks to fears stemming from Washington’s withdrawal from the Joint Comprehensive Plan of Action with Iran. In the months that followed, due to increased U.S. shale oil production, weak consumer demand, fears over the future global economic outlook (exacerbated by the prospect of a Sino-U.S. trade war), the Trump administration’s decision to authorize waivers to various countries to continue importing Iranian oil, and the inability of the Organization of Petroleum Exporting Countries (OPEC) and Russia to cut production sufficiently, prices cratered.
  • Oil, Gas Industry Increasingly Nervous as Government Shutdown Drags On. Representatives from the oil and gas industry are beginning to worry that the partial shutdown of the federal government, now the longest in U.S. history, could impact drilling on federal lands and blunt permitting for infrastructure, including pipelines and liquefied natural gas (LNG) export facilities.
  • Birth of a Drilling Company – How Diversified Gas & Oil Got Its Start. Last June Diversified Gas & Oil burst on the Marcellus/Utica scene when they bought 2.5 million acres of leases with 11,350 mostly conventional gas (and oil) wells in Appalachia from EQT. Since that time Diversified has continued to grow. Ever wonder how it got started?  We love a good background story that lifts the curtain and reveals the details about how a particular business began. The entrepreneur behind it.
  • PA’s Largest NatGas-Fired Electric Plant Officially Online. Invenergy blasted out a press release yesterday to announce that their 1,480 megawatt, $1 billion Marcellus gas-fired electric plant, called the Lackawanna Energy Center (located near Scranton, PA) is now fully, 100%, online. Which confuses us. The first train/unit was done and online producing electricity last June. The second train was online in late July/early August. And the third train was due to be online in September.

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The Shale Gas News sponsored by Linde Corporation

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