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 vertical wells, petroleum exports, Cheniere Energy 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 Gordon Tomb, Senior Fellow at Commonwealth Foundation for Public Policy Alternatives.
The Shale Gas News, typically, is broadcast live. On the November 17th show (click above), we covered the following new territory (see news excerpts below):
- U.S. crude oil and natural gas production increased in 2017, with fewer wells. The total number of wells producing crude oil and natural gas in the United States fell to 991,000 in 2017, down from a peak of 1,039,000 wells in 2014. This recent decline in the number of wells reflects advances in technology and drilling techniques. EIA’s updated U.S. Oil and Natural Gas Wells by Production Rate report shows how daily production rates of individual wells contributed to U.S. total crude oil and natural gas production in 2017.
- Interior credits increased fossil fuel production for jump in revenue from federal lands. Increased oil and gas production, as well as expanded access on public lands, are responsible for a surge in the Interior Department’s economic revenue this year, the administration said Wednesday. Production activities on Interior land under the Trump administration helped generate $292 billion in economic output during fiscal year 2017, a big increase of $400 million from the previous year, according to an economic report released by the Interior Department.
- IHS: U.S. to be net exporter of petroleum by 2020s. A new report says the U.S. will become a net exporter of petroleum by the early 2020s, the first time since the country would achieve such a feat since at least 1949. Research firm IHS Markit says continued growth in U.S. production of crude oil and natural gas liquids will push the country toward becoming a net exporter of petroleum, which the firm says included refined products like gasoline.
- Cheniere Bets $15 Billion on World Gas Demand Despite Tariff. Wearing a hardhat and orange vest, Ari Aziz climbs metal steps under a blazing sun until he’s standing atop an 180-foot-high tank in Corpus Christi, Texas. It’s big enough, he proudly points out, to hold a jumbo jet placed diagonally. Aziz is supervising more than 100 workers who form a kind of SWAT team for Cheniere Energy Inc. They’re checking every valve and pipe that feeds the sparkling new tank. On Wednesday, Cheniere said it started producing liquefied natural gas for the first time at the plant.
- India Ready To Import More U.S. Oil And Gas. India is ready to import more crude oil and liquefied natural gas (LNG) from the United States to expand bilateral trade, India’s Foreign Secretary Vijay Gokhale said on Wednesday. Speaking after a meeting between India’s Prime Minister Narendra Modi and U.S. Vice President Mike Pence on the sidelines of an ASEAN summit in Singapore, Gokhale said, commenting on the topics discussed: “There was a lot of discussion on energy, this is a new sector in the Indo-US relations. We have begun importing oil & gas from United States.”
- Price of NatGas Spikes to Highest Level in 4 Years – $4.84/Mcf. From even a cursory glance at news over the past 24 hours it would be hard to miss the stories blaring the trumpets that the price of natural gas closed at a 4+ year high yesterday (NYMEX futures price closed at $4.84/Mcf), and that the price jumped an amazing 18% in a single day–the biggest jump in 14 years! The primary reason, according to news reports and interviews with traders, is low stockpiles (low storage) combined with short-term weather forecasts for colder weather in the northeast.
- EQT Stock Falls 46% in One Day, but Investors Didn’t Lose 46%. Normally if a company’s stock falls upward of 50% in a single day, it indicates a catastrophe has happened. Bad news of biblical proportions. But such is not the case with EQT, the country’s largest natural gas producing company. EQT’s stock closed at $34.64 per share on Monday. By the end of Tuesday, it was $18.56, down 46.4%. Why? Because the company split in two, with EQT Corporation retaining all of the drilling assets, and a new company, Equitrans Midstream Corp., taking off with all of the midstream (pipeline) assets.
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