Shale Gas News – September 14, 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 energy education, PA gas production, falling oil prices 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 Seth Whitehead, executive director of the Illinois Petroleum Resources Board.

Shale gas news

The Shale Gas News, typically, is broadcast live. On the September 14th show (click above), we covered the following new territory (see news excerpts below):

  • Energy Education Fund Brings The MOLU To Pittsburgh. On Monday, September 9, 2019, energy industry employees, local legislators, teachers and school administrators attended an event where they could ‘Meet the MOLU’ and learn about the many benefits that the STEM-based mobile learning lab has to offer students across the Appalachian basin. The “Meet the MOLU” event was held outside of Cabot Oil & Gas Corporation’s office location at 2000 Park Lane in Pittsburgh, PA from 11:30 am until 1:30 pm.
  • StateImpact Pennsylvania’s Reid Frazier: Why I’m following Pa.’s Marcellus shale gas to Scotland. The deep shale gas deposits beneath Pennsylvania, Ohio and West Virginia are rich in ethane, a key byproduct of natural gas. It can be used to heat homes and power electric plants, but ethane’s chief use in today’s world is to make plastic. Not just plastic, but chemicals, coatings, fabrics — a cornucopia of the modern world’s most basic materials come from manipulating ethane.  The fracking boom in the U.S. has brought vast quantities of this ethane to the surface. In the U.S., ethane production has doubled since 2010; by 2025, the ethane supply in Appalachia is expected to be 20 times what it was in 2013.
  • Pennsylvania’s natural gas production continues to increase. Pennsylvania’s marketed natural gas production averaged a record 15 billion cubic feet per day (Bcf/d) in 2017, 3% higher than the 2016 level. This production is largely from shale plays in the Appalachian Basin. Pennsylvania accounted for 19% of total U.S. marketed natural gas production in 2017 and produced more natural gas than any other state except Texas. Pennsylvania has experienced an increase in permitting and drilling activity with the expansion of regional pipeline capacity capable of moving natural gas to market centers outside of production areas.
  • U.S. gas supply 20% higher than previously thought — report. A group of energy industry experts announced today that the amount of producible natural gas in the United States has spiked sharply — up roughly 20% — since its last assessment two years ago. The increase of 557 trillion cubic feet (tcf) reported today by the Potential Gas Committee is the highest assessment in its 54-year history and has ramifications on everything from climate change to President Trump’s energy dominance agenda. The organization puts total recoverable resources at 3,374 tcf — enough to sustain current levels of U.S. natural gas consumption for over a century.
  • Oil prices fall after EIA data shows larger-than-expected drop in crude inventories. U.S. oil prices fell on Wednesday after a reported sharp drop in U.S. crude stocks and OPEC member Iraq said the producer group would discuss deepening output cuts amid ongoing demand concerns. Brent crude fell 0.19% to $62.26 a barrel, while U.S. West Texas Intermediate dropped 0.61% to $57.05 a barrel. Oil prices have risen more than 7% this month, supported by declines in global inventories and signs of an easing in trade tensions between the United States and China, the world’s two largest economies and energy consumers.
  • EQT Settles Lawsuit Against Former Rice Employee. In February, prior to the July takover by Toby and Derek Rice, EQT filed lawsuits in both Pennsylvania and federal courts against two former employees it had fired, claiming the employees, before they were fired, had systematically copied confidential information from company computers and took it with them when they left. In March, EQT alleged the employees “stole” the information to help the Rice boys in their bid to take over EQT via a proxy war. EQT just settled/dropped one of the two cases.
  • Country’s Biggest NatGas Power Plant Beginning Construction in OH. Construction on what we believe to be the country’s largest natural gas-fired electric plant, the Guernsey Power Station (being built in Guernsey County, Ohio), is set to begin “immediately” according to the company hired to do the engineering, procurement and construction activities (EPC). Last week Caithness Energy, the project developer, announced it has closed on $1.6 billion worth of financing for the project and has given the green light to Gemma Power Systems to begin construction of the plant.

The Shale Gas News sponsored by Linde Corporation

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