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 the Colonial Pipeline, Chesapeake Energy, RGGI 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 Tom Pyle of the American Energy Alliance and Institute for Energy Research.
The Shale Gas News, typically, is broadcast live. On the May 15th show (click above), we covered the following new natural gas territory (see news excerpts below):
- ‘Jugular’ of the U.S. fuel pipeline system shuts down after cyberattack. The main fuel supply line to the U.S. East Coast has shut down indefinitely after the pipeline’s operator suffered what is believed to be the largest successful cyberattack on oil infrastructure in the country’s history — presenting a danger of spiking gasoline prices and a fresh challenge to President Joe Biden’s pledges to secure the nation against threats. The attack on the Colonial Pipeline, which runs 5,500 miles and provides nearly half the gasoline, diesel and jet fuel used on the East Coast, most immediately affected some of the company’s business-side computer systems — not the systems that directly run the pipelines themselves.
- Biden mandates new rules to shut down hackers. President. Biden signed an executive order yesterday aimed at boosting the federal government’s defenses after a string of major cyberespionage campaigns and as the East Coast reels from the most disruptive hack targeting the U.S. energy sector.
- US Shale Company Chesapeake Sees More Natural Gas In its Mix. US producer Chesapeake Energy said May 11 its production levels would remain neutral through 2022, but sees natural gas as an expanding part of its portfolio. Chesapeake filed for Chapter 11 protection in June, becoming the largest US shale oil and gas producer to seek bankruptcy protection in recent years. Under a court-approved plan, $7.8bn of debt has been equitised. The company expects to generate over $2bn of free cash flow over the next five years.
- 3 things to watch with Biden’s oil plans. Perhaps the only thing certain about the changes the Biden administration could make to the federal oil and gas program is that definitive answers are unlikely anytime soon.
- U.S. Sees Less Oil Supply Through 2022 Despite Rising Prices. The U.S reduced its forecast for oil output through 2022 as drillers across the prolific shale patch pledge austerity over the allure of increasing prices. Oil explorers throughout the country will produce 20,000 barrels a day less than previous forecasts for this year, at 11.02 million barrels. Supply next year is set to reach 11.84 million barrels day, down from prior estimate of nearly 11.9 million, the Energy Information Administration said in a report Tuesday. This marks the second straight downward revision for 2021 and 2022 forecasts.
- Ultimatum to PA Gov: Withdraw RGGI Carbon Tax or No New PUC Appts. It’s nice to see Pennsylvania’s Republican legislators playing hardball with the out-of-control governor of Pennsylvania, Tom Wolf. Yesterday PA Senate Republicans wrote a letter to Gov. Wolf to advise him they will reject all future nominees to the state Public Utility Commission (PUC) until he withdraws his executive order joining the so-called Regional Greenhouse Gas Initiative (RGGI), a carbon tax scheme aimed at shutting down coal and natural gas-fired power plants in the state.
- Doug Lawler Out as CEO of Chesapeake Energy. Some big news affecting the fourth-largest natural gas shale producer in Pennsylvania. Yesterday Chesapeake Energy announced its CEO, Doug Lawler, is out as of April 30th. No reason was offered for his departure. Given just a few years ago Lawler was making over $22 million per year in salary and bonuses, our guess is he was fired. Who walks away from that kind of money? However, we don’t know for sure. Nobody is talking right now.
The Shale Gas News sponsored by Linde Corporation
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