External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday morning at 10 AM on 94.3 FM “The Talker,” talked about New York’s fracked gas, investments, royalties and much more this week.
Every Saturday, Kevin Lynn of Linde Corporation and I co-host a morning radio show to discuss all things natural gas.
The Shale Gas News is typically broadcast live and this past Saturday’s program, the podcast of which is available here, covered the following new territory (see news excerpts below) and, among many more topics, included an interview with Gladys Brown, Pennsylvania PUC Commissioner:
- How New York Is Reaping the Rewards of Fracked Natural Gas. “New pipelines are bringing New York something it hasn’t seen in nearly a decade: cheap natural gas. Winter weather historically pushes natural gas prices up across the U.S. Recently, however, as the weather turned colder, natural gas prices tumbled, thanks to the record volumes being extracted from energy-rich shale formations using hydraulic fracturing and horizontal drilling. Few states are experiencing the benefits as much as the state of New York, where multiple new pipelines carrying natural gas in from the Marcellus Shale have pushed heating costs down to record lows. In late 2013, for example, New York City’s natural gas prices made headlines when they dipped 40 cents below those of Louisiana — a phenomenon not seen since eight years prior, Bloomberg Businessweek reported. The drop coincided with Spectra Energy’s expansion of its Texas Eastern Transmission Company pipeline to Manhattan, which brought new supplies of gas to the city that pushed down prices.”
- Cheap International Gas Finds a Home in New England. “Boston is just two states away from one of the world’s biggest new natural gas fields, but it’s relying on international cargos to help keep the region’s gas prices in check this winter. New England is taking international gas shipments at its highest rate in three winters, according to Genscape Inc. The energy data service is tracking another shipment that left Trinidad and Tobago bound to arrive in Boston this weekend, an unexpected turn of events for one of the country’s quirkiest energy markets. Boston is less than 400 miles from one of the sweetest spots of the Marcellus Shale, a gas-rich formation central to a drilling boom that is repeatedly breaking records for domestic gas production. But those markets, while so close, have few pipeline connections, blocking New Englanders from reaping much of a savings from the bonanza next door and raising new questions about how high prices could go.
- PA Senate Reintroduces Two Marcellus Royalty Bills. “A pair of bills that didn’t make it past the House last session have been re-introduced in the Senate and both have already passed the Senate Environmental Resources and Energy Committee unanimously. State Sen. Gene Yaw, Republican from northeast Pennsylvania, re-introduced Senate Bills (SB) 147 & 148. SB 147 allows landowners the right to review drilling company records to verify proper royalty payment. It also requires drillers to pay royalties within 90 days of production. SB 148 prohibits drillers from “retaliating” against a landowner who questions royalty payments by canceling the lease or stopping drilling activity. Both bills are embraced by the Pennsylvania chapter of the National Association of Royalty Owners (NARO).”
Check out what else is new at NaturalGasNow today!