Shale Gas News – April 15, 2023

shale gas news
Shale Gas NewsBill desRosiers
External Affairs Coordinator, Coterra Energy
Host, Shale Gas News

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 Mountain Valley Pipeline, Gulfport Energy, gas-to-liquids 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 shale gas.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the April 15h show (click above), we covered the following new natural gas territory (see news excerpts below):

  • 4th Circuit Judges Hand Rare Permit Victory to Mountain Valley Pipe. It’s a miracle, A true blue spectacle, A miracle come true… (Lyrics from Barry Manilow’s tune, It’s a Miracle) In a 3-2 vote taken in December 2021, the Virginia State Water Control Board granted a permit (under the Clean Water Act) for Mountain Valley Pipeline (MVP) to cross about 150 streams and wetlands in Southwest Virginia. Naturally, the foreign-backed Sierra Club and its Big Green cronies sued in federal court, claiming the permit somehow violates the Clean Water Act. A three-judge panel of the 4th Circuit Court of Appeals (all Democrats) handed down a decision yesterday…upholding the Va. Water Board’s decision to grant the permit. It’s a miracle!
  • Nacero Plan for Northeast PA Marcellus-to-Liquids Plant Still Alive. In October 2021, Nacero announced a $6 billion gas-to-liquids (GTL) refinery to be built on the site of a former coal mine in Newport Township and Nanticoke in Luzerne County, PA. The plant would convert Marcellus natural gas into zero-sulfur gasoline for use in existing cars and trucks without modification. The initial announcement was a big to-do involving politicians and local economic leaders. Antis (in typical fashion) have bashed the project. Since the initial announcement, there hasn’t been any apparent progress. We’ve wondered (for a while now) if this project is still alive?
  • Mgmt Changes at Gulfport – Getting the Montage Band Back Together. Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), emerged from bankruptcy in May 2021 with a new board and new top management. In January of this year, the company appointed a new CEO, John Reinhart, the former President and CEO of Marcellus/Utica driller Montage Resources Corporation before that company was gobbled up by Southwestern Energy. Yesterday Gulfport announced two more additions to senior management, a new CFO and new Senior VP of Operations (top driller). Both of them formerly worked at Montage Resources. Sure looks like Reinhart is getting the Montage band back together again!
  • $2.00 Natural Gas is Temporary, Just Like $10 Gas Was. We have watched, with some distress, the crashing and burning of the price for natural gas in recent weeks and months. It sure feels like we’re back in the bad old days of “lower for longer” when it comes to the price of gas. However, a futures and options broker (and book author) writing on Real Money says $2 gas like we are seeing now is “temporary” and won’t last, just like nosebleed $10 gas didn’t stick around last year.
  • Fed Court Rules EQT, Diversified Must Face WV Class Action. Last summer, MDN brought you the news about a lawsuit against Diversified Energy and EQT over the issue of old and “abandoned” wells in West Virginia. In June 2018, MDN exclusively brought our readers the news that Diversified Gas & Oil (now called Diversified Energy) had purchased EQT Corporation’s Huron Shale assets, with a bunch of conventional wells, in Kentucky, Virginia, and West Virginia for $575 million. Several WV landowners, prompted (and supported) by Big Green groups, sued the EQT and Diversified last July, alleging the wells no longer produce and (under law) must be plugged. The new news is that a federal judge in WV ruled yesterday that a proposed class action by the landowners against the companies can proceed.

The Shale Gas News sponsored by Linde Corporation

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