Shale Gas News – November 2, 2019

Bill desRosiers
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 our Democrats spark a fracking boom, Nord Stream 2, natural gas exports 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 Matt Henderson, President of Henderson Consulting Services talking about the Midstream PA Conference 2019.

In this week’s Shale Directories meet a member segment we were joined by Dave Zimmerman, CEO of Zimmerman Steel & Supply Co.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the November 2nd show (click above), we covered the following new territory (see news excerpts below):

  • The U.S. Just Doubled Its Natural Gas Exports. The United States saw its net natural gas exports in the first half of 2019 more than double from the same period last year, thanks to more liquefied natural gas (LNG) export capacity coming online in recent months, the U.S. Energy Information Administration (EIA) says.  Between January and June 2019, U.S. net natural gas exports averaged 4.1 billion cubic feet per day (Bcf/d), more than double the average net exports in 2018, data from EIA’s Natural Gas Monthly showed.
  • Big Oil Gets Bigger. Big oil has gotten bigger. A lot bigger. That’s what Simon Flowers, chairman and chief analyst at Wood Mackenzie, stated in his latest version of The Edge, a regular column published on the company’s website. “The majors have increased commercial reserves by 62 billion barrels of oil equivalent (proven and probable) through the downturn, equivalent to another BP and Chevron combined,” Flowers said in the column. “Our forecast for 2030 production for the seven companies is over six million boepd, or 40 percent higher today than it was in our 2014 view,” he added.
  • Democrats Just Accidentally Sparked A Federal Fracking Boom. Eyeing more restrictions on drilling following the 2020 presidential election, some U.S. oil and gas companies may accelerate fracking on public lands over the next year. Concho Resources said that in order to mitigate risk from a potential ban on fracking in 2021, the company is running rigs on its federal acreage now. The comment comes in light of the relatively strong rise of Massachusetts Senator Elizabeth Warren, who is arguably the front runner, or at least in the top tier. Vermont Senator Bernie Sanders has trailed a bit, although a new poll from New Hampshire has him in first place there. Former Vice President Joe Biden, who offers up a more industry-friendly approach to energy and climate change, has slid in the polls.
  • UK Braces For Final Verdict On Fracking. The UK government will soon make an announcement concerning hydraulic fracturing in the UK amid concerns about the tremors at a fracking site in recent months, Prime Minister Boris Johnson said in Parliament on Wednesday.   “We will shortly be making an announcement about fracking in this country in view of the very considerable anxieties that are legitimately being raised about the earthquakes that have followed various fracking attempts in the UK,” Reuters quoted Johnson as saying in a Parliament debate today.
  • Denmark Approves Route for a Controversial Russia-German Pipeline. Denmark gave permission on Wednesday for a natural gas pipeline from Russia to Germany to pass through waters in its exclusive economic zone, meaning that the project, Nord Stream 2, can be completed despite sharp criticism from the United States, Ukraine and Poland. With nearly all of its 2,400 kilometers of pipe already laid, Nord Stream 2, wholly owned by Russia’s Gazprom, should be completed roughly on schedule early next year.
  • A ban on fracking could result in a wasted opportunity across region. The rhetoric supporting a ban on hydraulic fracturing is becoming bolder by the day. I don’t get it. There is sound scientific data saying it is safe and efficient. Banning fracking is short-sighted and foolish.  Such a ban would have a dramatic impact on the economy of Pennsylvania, where manufacturing opportunities are emerging as a result of shale gas development. We are seeing new job opportunities and investment in a sector that’s important.  I watched in disbelief as a cadre of candidates debated an all-out prohibition of hydraulic fracturing. These manufacturing facilities and the family-sustaining jobs they bring can revitalize the economy and resurrect the ghosts of our industrial past.
  • Bill Peduto says no additional petrochemical plants should come to Western Pa.  Today at the Climate Action Summit, Mayor Bill Peduto announced his opposition to any additional petrochemical cracker plants that have been rumored for the Western Pennsylvania region.  The region’s first cracker plant is currently being constructed in Beaver County by oil giant Shell. Cracker plants refine natural-gas into plastic pellets. The Shell cracker will likely be fueled by natural-gas fracked in the Southwestern Pennsylvania region.

The Shale Gas News sponsored by Linde Corporation

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