Shale Gas News – October 12, 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 carbon price, the Shale Oil Revolution, Cabot Oil & Gas 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 we replayed a clip from the recent “Think About Energy” Briefing with Joe McGinn, Vice President of Public Affairs at Energy Transfer.

In this week’s Shale Directories meet a member segment we were joined by Bryce Custer, principal of Ohio River Corridor.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the October 12th show (click above), we covered the following new territory (see news excerpts below):

  • N.Y. grid operator: Carbon price could save $3B. New York’s grid operator is making what amounts to a closing argument to policymakers in its bid to put a price on CO2 emissions from the power sector. In a final report being released today, the New York Independent System Operator says pricing CO2 would boost renewable energy development, encourage switching fossil fuel-based heating and cooling systems to electricity, and spur the expansion of electric vehicle charging infrastructure. A carbon price would also create power market efficiencies that could bring up to $3.25 billion in long-term savings for consumers, the report says.
  • Shale gas off-ramp: Pa.’s fracking boom helps fuel plastics production overseas. At the top of a hillside on his 200-acre cattle farm in Greene County, southwestern Pennsylvania, George Watson peered over a well pad on his property. He counted out nine well-heads — each the terminus of a borehole that reaches a mile underground, then turns horizontally for several more miles, following a carbon-rich seam below the green hills here. On hilltops all around there are well pads, equipment, and clearings that reveal a vast array of drilling infrastructure.
  • Texas, North Dakota, And New Mexico Leading the U.S. Shale Oil Revolution. Since 2008, the American shale oil boom has grown domestic crude production some 150% to 12.4 million b/d. It’s been a huge shale party especially led by North Dakota and Texas. The Bakken in North Dakota, and the Permian and Eagle Ford shale plays in Texas account for some 60% of U.S. crude oil production and 85% of U.S. shale oil production. The Permian is now the largest oil field in the world, surpassing Saudi Arabia’s giant Ghawar. Also in the Permian, I would be remiss not to mention New Mexico, where crude production since 2008 has jumped 5.5-fold to around 0.9 million b/d. Since the beginning of last year, EIA reports that output in the Bakken is up 25%, the Permian up 55%, and the Eagle Ford up 10%.
  • Northwest fight creates ‘big fear’ in U.S. oil industry. Oil companies and several states are pressing federal officials to overturn a Washington state law aimed at improving the safety of crude shipped by rail, saying it could create chaos in the nation’s transportation system and affect other industries. But environmentalists say the law is critical for preventing fires and deadly explosions.
  • NextEra Energy Buys 39% Stake in Atlantic Sunrise Pipe for $1.37B. Some big news to share. NextEra Energy Partners, a subsidiary of NextEra Energy which owns and operates solar and wind projects, as well as natural gas pipelines, announced early this morning they have cut a deal to buy Meade Pipeline Co LLC for $1.37 billion. Meade Pipeline is the name for a joint venture between several companies that own 39.2% of what is called the Central Penn Line pipeline system, otherwise known as Williams’ Atlantic Sunrise Pipeline–a major new pipeline that has single-handedly lifted the price drillers (and consequently landowners) receive for northeastern PA Marcellus gas.
  • Cabot O&G Continues to Grow in NEPA, Opens New Facility. Cabot Oil & Gas, one of our favorite Marcellus Shale drillers, focuses almost exclusively on drilling in Susquehanna County, PA, with a few wells in neighboring Wyoming County. Cabot continues to pour money into northeastern Pennsylvania. On Wednesday Cabot’s wholly-owned subsidiary, GasSearch Drilling Services, officially opened a new 28,000-square foot maintenance facility in Lenox Township (Susquehanna County) with a ceremonial ribbon cutting and open house for energy industry colleagues, neighbors and public officials.
  • EQT Looks to Sublease HQ Space – Leaving Downtown Pittsburgh? EQT Corp. is offering to sublease “more space” at its downtown Pittsburgh headquarters building. Back in April, before the change in leadership at the top, EQT offered up to 46,000 square feet of space to lease at its massive 250,000 square foot building known as EQT Plaza, located at 625 Liberty Ave. At the time the company was rumored to be looking for a new, smaller HQ somewhere in downtown Pittsburgh, which we chalked up to a negotiating tactic. The rumor now is that EQT is looking to lease even more than the original 46K sq ft, and possibly leave downtown Pittsburgh.

The Shale Gas News sponsored by Linde Corporation

Print Friendly, PDF & Email

Leave a Reply

Your email address will not be published. Required fields are marked *