Shale Gas News – October 17, 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 U.S. Shale Oil, LNG exports, Energy Marketers of America 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 guests, we had Jim Bognet, candidate for Congress and PA State Representative Josh Kail representing the 15th Legislative District in the Pennsylvania House of Representatives, serving parts of Beaver and Washington counties.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the October 17th show (click above), we covered the following new territory (see news excerpts below):

  • U.S. shale oil output to drop 123,000 bpd to 7.69 million bpd in November: EIA.  U.S. shale oil output is expected to decline by 123,000 barrels per day (bpd) in November, the biggest drop since May, to about 7.69 million bpd, the U.S. Energy Information Administration (EIA) said in a monthly forecast on Tuesday. Overall output is expected to drop for the third straight month and is expected to decline in most of the seven major shale formations in November.
  • Covid Crisis to Leave Scars for Years to Come, but Natural Gas to Bounce Back, Says IEA. As a result of the coronavirus pandemic and its economic impacts, energy demand is set to drop by 5% in 2020, with oil and gas investments falling by an estimated 18%, according to the International Energy Agency (IEA). The global energy watchdog on Tuesday issued its flagship World Energy Outlook 2020 (WEO-2020), with the pandemic overtaking all energy demand scenarios over the coming 10 years.
  • LNG Recap: U.S. Exports Rebound as Global Natural Gas Market Tightens. Feed gas deliveries to U.S. export terminals from Maryland to the Gulf Coast continued ramping up on Tuesday as the global gas market tightened and the latest hurricane to hit Louisiana spared liquefied natural gas (LNG) plants after making landfall last week. Cameron LNG, which was still ramping up following Hurricane Laura, opted to shut down before Hurricane Delta came ashore, but it sustained no damage from the storm.
  • Is U.S. Shale Finally Bouncing Back? As the oil price dropped through the first and second quarters of this year, oil companies closed in wells and laid off drilling and fracking crews. Activity bottomed in late May and has mounted a steady recovery in the months since. Rig count increases have been moderate, rising from low of 251 in May to 269 as of the 5th of October. What has been more spectacular is the increase in the deployment of frac crews as operators have allocated capex to bring Drilled by Uncompleted, (DUCs) out of inventory and into production.
  • Petroleum Marketers Association of America Becomes Energy Marketers of America. The Petroleum Marketers Association of America (PMAA) has declared a “new era” for is members and the fuels industry and has renamed itself the Energy Marketers of America (EMA).  The name change reflects the industry’s growing portfolio of liquid fuels and other alternative energy sources such as renewable diesel and biodiesel that have “played a critical role in lowering emissions over the past half century,” said Alexandria, Va.-based group, a federation of state and regional trade associations that collectively represent about 8,000 independent petroleum marketers.
  • Trump Hits Biden on Fracking in Appeal to Pennsylvania Voters. Donald Trump accused Democratic candidate Joe Biden of wanting to cripple natural gas drilling in Pennsylvania during the president’s first visit to the battleground state since recovering from Covid-19.  Trump said during a Tuesday evening campaign rally in Johnstown that Biden would abolish hydraulic fracturing, or fracking, something that the Democratic nominee has repeatedly denied.
  • Company plans largest U.S. CO2 storage project. Developers announced plans yesterday to build and operate a regional carbon capture hub near industrial producers in southwest Louisiana that they say will be the country’s “premier carbon sequestration project.”

The Shale Gas News sponsored by Linde Corporation

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