Shale Gas News – August 6, 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 LNG exports, Climate Bill, gas prices 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 Tom Pyle of the American Energy Alliance and Institute for Energy Research.

    Shale Gas News

    The Shale Gas News, typically, is broadcast live. On the August 6th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • Natural Gas Surges With US LNG Export Terminal Set for Fast Restart. US natural gas prices surged after a key export terminal in Texas reached an agreement with regulators to restart as soon as October after an explosion. Freeport LNG, which was shut down in June after a blast, has entered into an agreement with the Pipeline and Hazardous Materials Safety Administration to resume operations in early October at almost full capacity, the operator said in a emailed statement Wednesday.
  • Shale Companies Prepare For Their Best Quarter Ever. After a decade of losses and shareholder frustration, the U.S. shale patch is generating record amounts of cash flows and is earning record profits this year as oil prices soar while firms prioritize returns to investors.  The public independent U.S. shale producers already had a blockbuster first quarter, with many generating record cash flows and profits and vowing to increase shareholder returns after years of corporate losses and little payback to investors. Moreover, analysts say the second quarter will be even better for the shale patch.
  • Gas Prices Have Fallen for 50 Straight Days, Approach $4 a Gallon. U.S. gas prices have fallen for seven straight weeks and are approaching an average price of $4 a gallon, easing the pain of record-high fuel costs amid shrinking global demand for oil. The average cost of a gallon of regular unleaded gasoline sank to $4.16 Wednesday, the 50th straight day that prices have declined, according to OPIS, an energy-data and analytics provider. That is a 17% decline from the previous high of $5.02 a gallon set back on June 14, according to OPIS.
  • ‘Let’s get real’: GOP doubts permitting deal will pass. As Democrats gin up support for their big climate bill, Republicans are bracing for a fight, even if that means opposing policies the GOP has supported for years.  A group of Republicans held a press conference yesterday casting doubt on the Democrats’ deal to pass permitting reform legislation next month after the budget reconciliation bill becomes law.
  • Shale patch pioneer Chesapeake to ditch oil in favour of natural gas.  The company most associated with the dramatic ups and downs of the US shale patch is taking another gamble, planning to offload prize oil assets and double down on American natural gas.  Chesapeake Energy, a pioneer of the shale revolution that went bankrupt during the coronavirus pandemic crash, said on Tuesday it planned to exit oil altogether and return to its roots as a natural gas producer, instead pinning its future on a wave of demand for US exports of the commodity.
  • NatGas Hottest Commodity in World – US Price Up 100% Europe 700%. According to Bloomberg, natural gas is “the hottest commodity in the world” right now. Since the start of last year, the price natural gas fetches in Europe has risen a staggering 700 percent! In a separate article from the U.S. Energy Information Administration, the EIA points out the Henry Hub NYMEX price of natgas has doubled over the past 12 months. Natural gas, says Bloomberg, now rivals oil as the fuel that shapes geopolitics. And there isn’t enough of it to go around. This is a golden opportunity for the U.S. to produce and export more of it.
  • The Shale Gas News sponsored by Linde Corporation

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