Shale Gas News – January 7, 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 LNG exports, power grid, predictions for 2023 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. We played a video with Mike Rowe, narrator and executive producer of ‘How America Works’ on FOX Business, discusses the Biden administration’s war on fossil fuels.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the January 7th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • US Surges to Top of LNG Exporter Ranks on Breakneck Growth. The US tied Qatar as the world’s top exporter of liquefied natural gas last year, a milestone for the meteoric rise of America as a major supplier of the fuel. Both countries exported 81.2 million tons in 2022, according to ship-tracking data compiled by Bloomberg. While that’s a modest increase for Qatar, it marks a huge leap for the US, which only began exporting LNG from the lower-48 states in 2016 and has seemingly overnight become a dominant force in the industry.
  • Lower 48 Producing More Oil, Natural Gas from Fewer Wells, Report Shows. An increasingly small percentage of oil and natural gas wells is supplying the majority of U.S. production, according to a new report from the Energy Information Administration (EIA) based on Enverus data. The trend is because of the proliferation of horizontal wells combined with hydraulic fracturing in the Lower 48, researchers said. “Oil and natural gas wells drilled horizontally through hydrocarbon-bearing formations are among the most productive wells in the United States,” researchers said.
  • Bomb cyclone sparks fierce debate over grid readiness. Christmas week’s fierce “bomb cyclone” has put new urgency behind a critical issue for the nation’s power system — how grid owners and operators prepare for extreme weather emergencies. The Federal Energy Regulatory Commission and the North American Electric Reliability Corp. (NERC), the grid security monitor, are beginning a joint investigation of Winter Storm Elliott, which swept across the U.S. with deadly cold, paralyzing snowstorms and destructive winds.
  • 8 Consequential Energy Predictions For 2023. Why make 8 predictions, you might ask? No big reason – it’s just the number of forecasts that I thought rose to the level of potential consequence required for inclusion in this piece as I was thinking it through and compiling it. It’s happenstance that I didn’t end up with 5 or 23 of the things, although 23 would have obviously made for a much longer, potentially tedious read.
  • Exxon and Chevron share $100bn in profit after surge in oil prices. ExxonMobil and Chevron are expected to rake in almost $100bn in combined profits from 2022 as the US corporate oil titans capitalise on surging fossil fuel prices following Russia’s invasion of Ukraine. The profit bonanza is seen by the oil majors as vindication after the companies resisted pressure from activists and some shareholders to pivot away from their core oil and gas businesses and slash climate-warming emissions.
  • Marcellus/Utica Drillers (All Gas Drillers) Had Fantastic 3Q22. Gas-focused drillers in the U.S. tracked by RBN Energy (most of them with major operations in the Marcellus/Utica region) had a stellar third quarter financially. The group of 11 publicly-traded drillers that RBN tracks tripled their earnings on average, and cash flows were up 150% over the same quarter last year. EQT Corp., now helmed by Toby Rice, was the most profitable company on the list, earning $2.6 billion in Q3 while generating $3.1 billion in cash flow.

The Shale Gas News sponsored by Linde Corporation

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