Shale Gas News – July 10, 2021

Bill 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 Net-zero, global minimum tax, Rice Acquisition Corp. 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 Liz Bowman, Vice President of Communications at AXPC.

The Shale Gas News, typically, is broadcast live. On the July 10th show (click above), we covered the following new natural gas territory (see news excerpts below):

• Oil could top $100 as commodities boom shifts away from China, says top economist. Prices for commodities ranging from corn to copper to oil soared in the first half of 2021 on a combination of pent-up demand and supply bottlenecks resulting from the COVID-19 pandemic. The dynamics of the rally are changing, but further, broad-based gains look set to continue, said Saad Rahim, chief economist at Trafigura, one of the world’s largest commodity-trading firms.
• Biggest U.S. natural gas driller sets 2025 net-zero goal. The largest U.S. natural gas producer has announced plans to achieve net-zero emissions from its operations by 2025, while stressing the need for gas as a bridge fuel to a low-carbon future.
• The Supreme Court’s Pipeline Decision Shows DC Still Has Adults In The Room. On Wednesday, June 29, the United States Supreme Court handed down one of its most important decisions in years. In the case of PennEast Pipeline Company, LLC v. New Jersey, et al., by a narrow 5-4 margin, the Court affirmed the right of PennEast Pipeline Company, LLC (PennEast LLC), a private company, to take by eminent domain certain lands in which the State of New Jersey claimed it had an interest in order for that company to build a natural gas pipeline.
• U.S. Proposal for 15% Global Minimum Tax Wins Support From 130 Countries. PARIS — An effort to push the most sweeping changes to the global tax system in a century gained significant momentum on Thursday when 130 nations agreed to a blueprint in which multinational corporations would pay an appropriate share of tax wherever they operate.
• As U.S. Temperatures Spike, So Does The Need For Natural Gas. As our energy-climate discussion marches on, one of the most telling things is being played out this sweltering summer.  Once again, U.S. natural gas is being shown as undeniably essential to our immense energy demand complex.  First the overwhelming numbers: natural gas accounts for 45% of our power generation capacity, 40% of actual power generation, and 33% of energy supply.
• Former Rice Energy Head Fracker’s Lawsuit Tossed by Judge. On January 4, 2014, Rice Energy (at that time run by Dan Rice IV) hired Vice President for Completions (head fracker) Babatunde Ajayi. After Ajayi assembled a team and a system that propelled Rice to become one of the leading Marcellus/Utica drillers, Rice fired Ajayi on October 31, 2016. Rice claimed Ajayi was double-dipping–that he had a conflict of interest by owning shares in a company doing business with Rice Energy.
• Dan Rice Launches Another Energy-Focused SPAC – Rice-a-RONI. Last December Dan Rice IV, former CEO of Rice Energy and member of the EQT board of directors, launched a “blank check” acquisition firm, called Rice Acquisition Corp., to invest in various energy ventures. Dan found that something-to-invest-in just a few months later in the form of acquiring and merging together Archaea Energy and Aria Energy into a single company focused on providing renewable natural gas (RNG) and “green” hydrogen. With that deal about to consummate in 3Q, Dan is on the prowl again. He’s formed and launched a second “blank check” company, called Rice Acquisition Corp. II, along with a cool stock ticker symbol: RONI. As in, Rice (a) RONI. Get it?

The Shale Gas News sponsored by Linde Corporation