Shale Gas News – January 20, 2018

shale gas news - desRosiers_headshotBill 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 U.S. Oil, Russian LNG, Constitution Pipeline 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 Jackie Stewart from Energy In Depth in Ohio.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the January 20th show (click above), we covered the following new territory (see news excerpts below):

  • U.S. Oil Output Expected to Surpass Saudi Arabia, Rivaling Russia for Top Spot. U.S. oil production is expected this year to surpass Saudi Arabia’s output, upending a global pecking order that has been a basis for U.S.-Middle Eastern policy for decades. Crude output in the U.S. will likely climb above 10 million barrels a day in 2018, which would top the high set in 1970, the International Energy Agency said Friday. The IEA, a Paris-based organization that advises governments and companies, raised its outlook for U.S. crude supply this year by 260,000 barrels a day, to a record 10.4 million barrels a day, largely a result of the recent rally in crude prices.
  • BLM, States, Industry Fighting Natural Gas Venting/Flaring Lawsuits. The Bureau of Land Management (BLM) is pushing back against efforts in federal district court to derail the Trump administration’s decision to postpone the compliance dates for rules governing associated natural gas flaring and venting on public and tribal lands, calling the rules suspension “a commonsense, time-limited solution to a practical problem.”
  • Illegal Shipment of LNG Coming to Boston has Huge CO2 Footprint. This story continues to grate on our nerves–the fact that mainstream media is covering up a MAJOR scandal. What scandal? The scandal of Russian LNG banned from the U.S. coming to the U.S. (to Boston) because it was offloaded in the UK and reloaded on a different ship, to “whitewash” the gas. To make matters worse, the gas, from the sanctioned Russian Yamal LNG facility in the Arctic, has a massive CO2 footprint relative to LNG produced elsewhere (for those like who care about such things, like mainstream liberal media). And yet mainstream liberal media (i.e. fake news) totally ignores the story.
  • Sad Day: EXCO Resources Files for Chapter 11 Bankruptcy. You can’t say we didn’t warn you. In early November MDN told you that a “turnaround expert” hired two years ago to help EXCO Resources dig its way out of a deep hole had resigned and left. At that time the company itself warned it “may be forced to seek protection from creditors under the U.S. Bankruptcy Code.” And so they have. On Monday EXCO filed for Chapter 11 bankruptcy protection. EXCO has 184,000 net acres in the Marcellus, with 124 horizontal Marcellus wells drilled and in production.
  • Antero 2018: $1.45 Billion to Drill 125 Marcellus & 25 Utica Wells. Yesterday Antero Resources, one of the biggest and best drillers in the Marcellus/Utica (concentrating on just those two plays), released highlights of their 2017 performance and “guidance” for 2018–their plan for what they will do in 2018. In 2017 the company reports average net daily gas equivalent production was 2.3 billion cubic feet per day, an 18% increase over the same quarter in 2016. In 2018, Antero plans to spend $1.45 billion. What will that buy them? In the PA and WV Marcellus, Antero will run five rigs and drill 120-125 wells, with an average lateral length of 9,300 feet.
  • Death of the Constitution Pipeline? FERC Refuses to Overrule NY DEC. This is a bitter and sad day. The five Commissioners of the Federal Energy Regulatory Commission (FERC) released a decision yesterday (copy below) that FERC will not overrule an illegal decision by the corrupt Cuomo Dept. of Environmental Conservation (DEC) to block construction of the Constitution Pipeline (which FERC approved in 2014). Is this truly “lights out” for the Constitution? It would seem so. Cuomo’s DEC took more than two years to evaluate and eventually reject the Constitution Pipeline–a $683 million, 124-mile pipeline from Susquehanna County, PA to Schoharie County, NY to move Marcellus gas into NY and New England.
  • Supersize Me! Marcellus/Utica Well Pads Now Host Up to 40 Wells. The Marcellus/Utica Shale industry is changing underneath our feet–literally! Last time we checked, most well pads in the Marcellus/Utica sported an average of maybe 3-4 wells–with a dozen wells on a pad being “big.” Something has changed, dramatically, in the gas fields of PA, OH and WV. The “new normal” are supersized well pads–holding as many as (gasp) 40 wells! We hasten to add no such pad yet exists–a pad with 40 wells drilled from it.

The Shale Gas News sponsored by Linde Corporation

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