Shale Gas News – January 16, 2021

Shale Gas NewsBill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

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 U.S. oil exports, natural gas reserves, PA UGI deal 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 natural gas. This week, as a guest, we had State Representative Aaron Kaufer, representing the 120th Legislative District in the Pennsylvania House of Representative, serving parts of Luzerne County.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the January 16th show (click above), we covered the following new territory (see news excerpts below):

  • LNG shipping rates from U.S. surge to record highs on Asia buying boom. The cost of shipping liquefied natural gas (LNG) from the United States to Asia hit a record high on Tuesday as appetite for the fuel from buyers there and delays through the Panama Canal reduced the amount of ships for hire. Freezing temperatures across Asia and Europe have pushed up LNG prices and lifted wider gas prices as buyers grapple with shrinking inventories and the shortage of tankers.
  • U.S. oil exports set 71-year record. For the first time in more than 70 years, the United States exported more crude oil and petroleum products last year than it imported, according to the U.S. Energy Information Administration.
  • EIA: U.S. Natural Gas Reserves Slip Amid Low Prices. Natural gas reserves in the United States fell by 2 percent in 2019 due to low prices, the Energy Information Administration said in an update on the country’s oil and gas reserves.  Henry Hub prices for natural gas in 2019 fell by more than 21 percent from 2018, the authority noted, adding that despite the modest decline, the United States had enough discoveries and production extensions of gas to replace 2019 production going forward.
  • MVP Asks FERC to Use Alternative Method to Finish 77 Miles. Mountain Valley Pipeline (MVP), a 303-mile, 2 Bcf/d pipeline to move Marcellus/Utica gas from West Virginia to southern Virginia, has been hounded by radicals from Big Green groups including the Sierra Club for years. Big Green apparently has the clown judges from the U.S. Court of Appeals for the Fourth Circuit in its back pocket because the clowns keep overturning legal and legitimately issued permits by government agencies including the U.S. Army Corps of Engineers.
  • Southwestern, Equinor Win Post-Production Deduction Lawsuit in WV. Just coming to light (for us) is a decision issued by the U.S. Court of Appeals for the Fourth Circuit on Dec. 1, a ruling on post-production deductions by drillers when calculating gas royalties “at the wellhead” in West Virginia. The drillers, in this case, were Southwestern Energy and Equinor (formerly known as Statoil). The drillers won the right to claim certain post-production deductions.
  • PA’s UGI Corp. Deal to Buy WV’s Mountaineer Gas Company. UGI Corporation, one of Pennsylvania’s largest natural gas utility companies, is buying Mountaineer Gas Company, one of West Virginia’s largest natural gas utility companies, for $540 million. UGI serves 700,000 customers across PA (and one county in Maryland). Mountaineer serves 215,000 customers across WV. Both companies are big buyers of Marcellus/Utica shale gas.
  • Columbiana County Asks OH Gov. to OK Shale Gas Pipe to Lake Erie. Two weeks ago Trumbull County, OH’s Board of Commissioners sent a letter to Gov. Mike DeWine requesting DeWine order a feasibility study on a “lake-to-river natural gas pipeline” project that will extend along the State Route 11 corridor from Columbiana County all the way to Ashtabula Harbor on Lake Erie. The pipeline will flow Utica gas produced in Columbiana (and surrounding counties) to manufacturers located along the Erie shoreline.

The Shale Gas News sponsored by Linde Corporation

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