Shale Gas News – May 16, 2020

Bill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about infrastructure permits, Mountain Valley Pipeline, Chesapeake Energy and much more last week.

The Shale Gas News has grown again to the Williamsport area on stations WEJS 1600 AM & 104.1 FM. 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 and now the Williamsport area. The Shale Gas News is aired on Saturday or Sunday depending on the station.

Every Saturday Rusty Fender, Matt Henderson and I host a morning radio show to discuss all things natural gas.This week, as a guest, we had Brian Oram, Professional Geologist at B.F. Environmental and Program Manager & Educator at Keystone Clean Water Team.

In this week’s Shale Directories meet a member segment we were joined by  Bryan Hum President of Green Valley Seed.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the May 16th show (click above), we covered the following new territory (see news excerpts below):

  • Pipeline accidents, spills down 17% — report. The pipeline industry says data shows lines carrying crude oil and other liquids are getting safer amid a construction boom adding thousands of miles of new pipe.
  • Natural Gas Can Help Advance Communities of Color. A recent Axios article noted that Jesse Jackson, in a break from others on the left, is advocating for a proposed natural gas pipeline that would service Pembroke Township, Illinois. This should come as no surprise: Rev. Jackson has been advocating for a link to service Pembroke since December, a predominantly poor community where many residents rely on relatively expensive propane or less efficient wood-burning fireplaces for warmth in the winter. Natural gas heat would be an affordable, potentially life-saving option for this community.
  • Climate cases see ripple effect from Superfund decision. A recent Supreme Court ruling on Superfund cleanups has roiled the legal debate over where — and whether — municipalities can sue oil and gas companies for damage caused by climate change.
  • Chatterjee rejects push to halt FERC project approvals. Federal Energy Regulatory Commission Chairman Neil Chatterjee has refused requests to pause energy infrastructure permits for the duration of the coronavirus pandemic.
  • Is EIA Data Disguising A Disastrous Decline In U.S. Shale? The Trump administration claims that the U.S. is “transitioning to greatness,” and that energy companies are going to see “massive gains.” U.S. Secretary of Energy Dan Brouillette says there is “stability” in the oil market, and that economic activity will “explode” on the other side of the pandemic. Meanwhile, back in reality, U.S. oil production continues to decline as drillers shut in wells and cut back spending. Output has already declined by 1.1 million barrels per day (mb/d), and more losses are likely. New data from Rystad Energy predicts U.S. oil production declines of roughly 2 mb/d by the end of June.
  • Chesapeake 1Q Net Loss Mind-Blowing $8.3 Billion – Bankruptcy Near. Chesapeake Energy issued its first-quarter 2020 update yesterday–but not in the typical fashion. They filed the required Form 10-Q with the Securities and Exchange Commission and announced they will not hold a conference call or webcast to discuss anything with anyone. No wonder. The financials for the company are dreadful. Chesapeake lost (on paper) $8.3 billion in 1Q20 due to the writedown of assets (called an impairment). It was not an out-of-pocket-cash loss, thank God. Still, it was bad enough. The 10-Q said “management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern” and there is a “likelihood of a restructuring or reorganization.”
  • Mountain Valley Pipeline “Slips” in 3 West Virginia Locations. Mountain Valley Pipeline (MVP), a 303-mile Marcellus/Utica gas pipeline from West Virginia to southern Virginia, is 90% built and in the ground. The final 10% is waiting on various lawsuits and regulatory agencies to resolve outstanding issues brought on by radicalized green groups. One of the places the pipeline has long been done and in the ground is Lewis County, WV. It’s a mountainous area. Inspectors recently discovered there have been “slips” of the land resulting in “at least three locations” where MVP has shifted.

The Shale Gas News sponsored by Linde Corporation

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