Shale Gas News – July 13, 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 New York mass exodus, big tech, natural gas pipelines 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 guests, we had the Wyoming County Commissioners call in to talk about their impact fee distribution, their largest to date.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the July 13th show (click above), we covered the following new territory (see news excerpts below):

  • Factbox: Some oil, gas production halted as US Gulf Coast prepares for major storm. US offshore oil and gas drillers started shutting production Wednesday as a tropical storm develops in the northern Gulf of Mexico. The US Department of Interior’s Bureau of Safety and Environmental Enforcement said Wednesday that Gulf of Mexico drillers had shuttered 32% of oil production and 18% of natural gas output ahead of storm.
  • War Over Natural Gas Pipelines Goes to New Level. National Grid is trying to enlist its customers’ support in getting a natural gas pipeline built in New York – an unusual move for a utility and an indication of just how intense the battle over fossil-fuel pipelines has become, Crain’s reports. National Grid is sending notices to some of its customers, warning them that it can’t expand their gas service unless New York State clears a controversial $1 billion pipeline expansion. The project, known as the Northeast Supply Enhancement (NESE) pipeline, is designed to deliver natural gas from Pennsylvania to customers in New Jersey and New York. In its notices to customers, National Grid encourages ratepayers to sign a pre-written letter in support of the pipeline that will automatically be sent to New York Governor Andrew Cuomo.
  • Rice Brothers Win Control of EQT. Two brothers who sought control of natural-gas producer EQT Corp. EQT 2.93% have succeeded in their campaign.  EQT Corp. and the Rice group of shareholders, led by Toby Rice and Derek Rice, said shareholders at the company’s annual meeting Wednesday elected all seven Rice-nominated directors and five nominees supported by both entities. More than 80% of the votes cast supported those 12 nominees, they said. EQT’s new board named Toby Rice as president and chief executive of EQT later Wednesday, replacing Robert McNally. The board also elected a new chairman and replaced the company’s general counsel.
  • Switcheroo: Marcellus/Utica Now has More Pipe Capacity than Gas. The pipeline situation today in the Marcellus/Utica region is far different than it was just a year or two ago. Not long ago lack of pipelines meant we had an overabundance of natural gas in the region without buyers, driving prices into the basement. Today? It’s all different. Because of new and expanded pipelines coming online over the past couple of years, producers (i.e. drillers) today have options on where to send their natural gas–fetching far better prices in new markets. In fact, according to the analysts at RBN Energy, “The spate of pipeline expansions and additions in the past two years have not only caught up to production but capacity now far outpaces it.” That’s a big switcheroo.
  • Salesforce, Microsoft, LinkedIn, Apple Go Anti-Fossil Fuel. It may be time to boycott the products and services of Salesforce.com, Microsoft, LinkedIn (owned by Microsoft), Apple and other Big Tech firms who are attempting to force Dominion Energy to abandon plans to build clean-burning, natural gas-fired electric plants in Virginia to power data centers. To which we say, go find your electricity somewhere else, you fools. Go build your own solar farms and windmills, see how far you get in supplying your huge electric demands. And tell your customers “Oops, sorry!” when the electricity cuts out and the data centers go dark when the sun doesn’t shine and the wind doesn’t blow.
  • The Mass Exodus from New York Begins Following Climate Law. New York State is so screwed. Let’s just be honest–there’s no saving the Empire State now. (We can say these things because we live here.) Following the passage of a recent law, businesses and residents are beginning to move out of the state. Why? Because in the coming years the state will either outlaw the energy they need to use, or make it so expensive they’ll go bankrupt. One example: Everyone in NY who uses a furnace for winter heating–whether that furnace uses fuel oil, natural gas, or propane–will have to dump that furnace and switch to a heat pump or electricity…in the next 20 years.
  • LOLA Energy Sues EQT for Trespass, Drilling Wells Under LOLA Land. In another MDN exclusive, last Friday LOLA Energy filed a lawsuit in Greene County, PA against EQT for allegedly drilling shale wells under property EQT formerly leased, property for which the leases had lapsed and were subsequently scooped up by LOLA Energy. LOLA says they are now the owners of those leases and that EQT has drilled under some of their properties. LOLA tried to broker a deal for compensation but those talks broke down and hence a lawsuit was filed.

The Shale Gas News sponsored by Linde Corporation

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