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Shale Gas News – September 1, 2018

shale gas news - desRosiers_headshotBill 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 pipeline projects, top producing wells, Rex 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 guests, we had Representative Bryan Cutler of the 100th legislative district and serves as the house majority whip and Steve Corbett, journalist and novelist.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the September 1st show (click above), we covered the following new territory (see news excerpts below):

  • List of 16 Major Pipeline Projects Planned for the Northeast. Did you know there are 16 major, announced pipeline projects in the northeast?! We recently happened across a handy list of those projects, a list published by the Northeast Gas Association less than a month ago. The list includes a description of what will get built, who’s doing the building, and the target in-service date. A few of the projects are in limbo (Constitution, Access Northeast), but most are either under construction or soon will be. We dig this kind of list–well laid-out, concise, and useful. And we think you will too.
  • Rex Energy Sells Itself to PennEnergy Resources for $600M. Rex Energy, one of our favorite small drillers, has finally found a buyer for its Marcellus/Utica assets. And it’s a good home. After scheduling and rescheduling a bankruptcy auction four times in a single week, Rex canceled the auction and said it has cut a deal with PennEnergy Resources to buy the company–for $600.5 million. You may recall that Rex, heading into bankruptcy in May, owed nearly $1 billion to several creditors. If the deal is for $600.5 million, somebody’s not going to get paid everything they’re owed. But then, that’s the nature of bankruptcy court–to decide who gets what and how much.
  • Dominion Buying a Piece of Competitive Mountain Valley Pipeline. Here’s some dots that we’ve not seen anyone else connect. There are two competing pipeline projects that generally run along the same route to shuttle Marcellus/Utica gas to the southeastern U.S. One project is EQT Midstream’s Mountain Valley Pipeline (MVP), which runs from 303 miles from West Virginia into southern Virginia. MVP is facing a court case that’s idled three-fourths of the project, leading to a layoff of “thousands” of workers. The other project is Dominion Energy’s Atlantic Coast Pipeline (ACP), a 600+ mile pipeline from West Virginia through Virginia and into North Carolina, almost to the border with South Carolina.
  • Top 25 Producing Gas & Oil Wells in Ohio Utica for 2Q18. Somebody must have lit a fire under the Ohio Dept. of Natural Resources (ODNR). The ODNR issued first quarter 2018 production numbers for shale oil and gas production a little over a month ago, in July. Which does seem a bit late. Yesterday ODNR made up for it by issuing production numbers for 2Q18. Natural gas production was up an astounding 42% over the same period last year (after being up 43% in 1Q18). Utica natgas production broke record, hitting a new all-time high of 554.3 billion cubic feet (Bcf) in 2Q18.
  • Eclipse Resources Merging with Former Magnum Hunter. Some big news breaking from yesterday: After months of teasing by Eclipse Resources that it’s working on selling itself–it finally has. The buyer is Blue Ridge Mountain Resources, the renamed remnant of Magnum Hunter Resources. Magnum Hunter filed for bankruptcy in December 2015, emerging from bankruptcy in May 2016 minus CEO Gary Evans. Looking to shed the image of the past, the company renamed itself as Blue Ridge in January 2017. Blue Ridge, headquartered in Texas, has 99,000 acres of leases (mostly undeveloped) in the Marcellus and Utica Shale plays.

The Shale Gas News sponsored by Linde Corporation

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One thought on “Shale Gas News – September 1, 2018

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