Shale Gas News – August 27, 2022

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 Strategic Petroleum Reserve, PA landowners, Freeport LNG 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. This week, as a guest, we had Congressman Dan Meuser.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the August 27th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Endless Demand Spurs U.S. Natural-Gas Prices to Shale-Era Highs. The 14-year highs reached this week by U.S. natural-gas futures show the unceasing demand for U.S. shale gas across the Atlantic—and likely point to rising prices and market volatility ahead.  The latest price spike came in response to Russia’s plans to shut down one of Europe’s main fuel arteries for a few days at the end of the month. The closure announced Friday is either the latest episode of unplanned maintenance along the vital Nord Stream gas pipeline or an act of economic warfare on Russia’s part in retaliation for Western Europe’s support for Ukraine.
  • U.S. crude in SPR hits lowest level since January 1985. U.S. crude inventory in the Strategic Petroleum Reserve (SPR) fell by 8.1 million barrels in the latest week to the lowest level in more than 35 years, according to data from the Department of Energy. Stockpiles in the Strategic Petroleum Reserve (SPR) fell to 453.1 million barrels in the week to Aug. 19, according to the data. The 8.1 million-barrel draw was the largest since the end of April and brought inventory to the lowest level since January 1985.
  • ‘Limited’ oil and gas capacity could send prices higher in 2023, analyst says. Oil prices could spike again by the beginning of 2023, says one analyst. “Domestically, whether it’s oil or it’s gas, these companies have very very limited incremental capacity at this time,” Truist Securities Managing Director of Energy Research Neal Dingmann told Yahoo Finance Live. U.S natural gas prices rallied on Monday to new 14-year highs over reserve concerns and the energy crisis in Europe. Oil prices declined during the session amid worries of a global slowdown and the prospects of a nuclear deal with Iran, which would translate into more crude entering the market.
  • Detailed Look at Manchin-Schumer Big Green Energy Inflation Bill. We have spit and sputtered daily since Traitor Joe Manchin announced his treachery last week–that he will sacrifice the entire country and its economic future in return for finishing one pipeline. What was called Build Back Better has been renamed to the Inflation Reduction Act (IRA). Which is a joke. The bill won’t actually reduce inflation at all (and that assessment comes from sources on the left). There’s a huge new methane tax in the bill. What else is in the bill?
  • PA Landowners Class Action Against EQT re Gas Storage Overturned. In July 2018, a group of 100+ southwestern Pennsylvania landowners sued EQT for failure to pay them rental fees for storing natural gas under their properties. In July 2019, that same group filed a request in U.S. District Court to upgrade the lawsuit to class action status, potentially including thousands of affected landowners. The judge in the case agreed with their petition and upgraded the case to class action status in September 2021. But the story isn’t over yet. A federal appeals court just undid/reversed the class action…
  • Small Amount of NatGas Flowing to Freeport LNG Explained. Two weeks ago, MDN brought you the news that a small amount of natural gas–roughly 22 MMcf/d (million cubic feet per day)–is once again flowing into the closed Freeport LNG export facility. The facility is not due to reopen until October. So why is natgas flowing into it? We offered up two possible explanations. As it turns out, neither explanation was the correct one.

The Shale Gas News sponsored by Linde Corporation

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