External Affairs Coordinator, Cabot Oil & Gas
The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM and Sundays on YesFM, talked about U.S. Shale oil, coal, Antero Resources and much more last week.
The Shale Gas News has grown again; welcome Gem 104 as our FOURTH station! Gem 104 helps to solidify the Shale Gas News coverage in an important Marcellus region, PA’s northern tier. 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. The Shale Gas News is aired on Saturday or Sunday depending on the station.
Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as a guest, we had Daniel B. Markind, Esq., Chair of the business group at Weir and Partners, LLP.
The Shale Gas News, typically, is broadcast live. On the May 11th show (click above), we covered the following new territory (see news excerpts below):
- Occidental Petroleum Emerges With the Prize in a Takeover Fight. When Chevron said on Thursday that it would not raise its bid for Anadarko Petroleum, it was not only the end of a fierce month long takeover battle with Occidental emerging as the winner. The decision will also make Occidental the undisputed top producer in the Permian Basin, the field that turned the United States into a major oil exporter.
- Rystad: U.S. Shale Is Now The World’s Second Cheapest Source Of Oil Supply. U.S. shale oil—which just four years ago was the world’s second most expensive oil resource—is now the second cheapest source of new oil supply globally, just behind the giant onshore oil fields in the Middle East, Rystad Energy said on Thursday. North America’s tight oil has reduced costs over the past four-five years and has proven to be a competitive source of oil supply even when oil prices are not very high, according to the energy research firm.
- North Dakota oil production ranks higher than some OPEC countries. FARGO — North Dakota’s soaring Oil Patch has placed it squarely in the midst of output levels for members of the Organization of Petroleum Exporting Countries — and it already would rank 18th in the world if the state were a country. North Dakota produces an average of 1.4 million barrels of oil per day, a level that places it ahead of seven of OPEC’s 13 member countries, including Libya, Algeria and Venezuela. Now, as North Dakota’s oil production continues to grow, it is knocking at the door of a major producer in the North Sea.
- Demand For Coal Slides As Renewable Energy, Natural Gas Fill In The Gaps. U.S. demand for coal to generate electricity will keep sliding in coming months, federal officials said Thursday, despite efforts by the Trump administration to shore up the struggling industry. Renewable energy sources including wind, solar and hydropower are expected to fill much of the gap left by coal’s decline, according to the Energy Information Administration.
- Antero Resources 1Q19: Marcellus Economics Better than Utica. Antero Resources, one of the biggest Marcellus/Utica drillers (pure play) released first quarter 2019 numbers yesterday. The Mariner East 2 (ME2) pipeline, which Antero uses to ship and sell natural gas liquids (NGLs) had a huge beneficial effect for the company. Antero’s production was massive: 3.1 billion cubic feet equivalent per day (Bcfe/d) in 1Q19, up an astonishing 30% from 1Q18. But here’s the kicker: Nearly one-third of Antero’s production (29%) was NGLs. Without ME2, that big number would have been a small fraction of Antero’s production.
- DTE Midstream Buys Another 30% of WV Gathering System. In 2016, DTE Energy, a BIG utility and midstream company based in Detroit, MI, purchased 100% of M3 Midstream’s Appalachia Gathering System (AGS), located in Pennsylvania and West Virginia, and 40% of M3’s Stonewall Gas Gathering (SGG), located in West Virginia. The reason? To feed natgas-fired electric plants the utility wants to build. DTE has just cut a deal to buy another 30% of the Stonewall system in WV.
- Court Lets EQT Examine Cell Phone of Worker Accused of Helping Rice. A Pennsylvania federal judge has ordered a former EQT employee to turn over his cell phone to EQT so they can have experts examine it for deleted text messages to Toby Rice and others helping him. You may recall EQT accused two fired workers of stealing company secrets and sharing those secrets with Toby and Derek Rice, who are trying to take over EQT. EQT maintains one of the fired workers has evidence on his phone that can corroborate their claims of collusion. Hence the judge’s order.
The Shale Gas News sponsored by Linde Corporation
This post appeared first on Natural Gas Now.