Shale Gas News – November 9, 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 the world’s top oil producer, LNG exports, Cunningham Energy 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 Cassandra Coleman, Executive Director at America250Pa.

PMA Perspective interviewed George Stark, Director of External Affairs at Cabot Oil & Gas, about the current state of the industry. This week we are playing part 1 of the interview.


Shale Gas News

The Shale Gas News, typically, is broadcast live. On the November 9th show (click above), we covered the following new territory (see news excerpts below):

  • America is now the world’s top oil producer, but cracks are emerging. By any measure, America’s rapid expansion to a record 12 million barrels of oil output a day has been a global game-changer. In less than a decade, a boom in the country’s shale patch added a record 8 million barrels day and made the United States the No. 1 oil producer in the world. A large chunk of credit must go to the producers in the Permian Basin, a vast expanse of 86,000 square miles that borders west Texas and southeastern New Mexico. That region is responsible for about a third of America’s crude output.
  • Could a future US president ban fracking? Over the past 16 years, the application of hydraulic fracturing to horizontal wells has transformed the North American oil and gas industry, sending output soaring. The US production boom continued under Republican and Democratic administrations, and politicians in both the main parties generally welcomed the industry’s growth. Last year, President Barack Obama jokingly claimed credit for the US becoming the world’s largest oil and gas producer during his administration, telling an audience at Rice University: “That was me, people.”
  • Report: ‘No growth’ in U.S. shale by 2021. U.S. shale drillers are facing the worst storm since the 2015 price bust, analysts at IHS Markit said yesterday, adding to a mounting chorus promising a slowdown for the producers that refashioned the global oil market.
  • US encourages African countries to import its LNG. The US is encouraging African countries to consider importing its abundant supplies of liquefied natural gas (LNG), as it expects its production to more than double within the next few years. US Department of Energy assistant secretary Steven Winberg this week said African countries should consider importing US gas while they prepare to develop their own natural gas production.
  • Moxie Energy CEO Aaron Samson Dies in Accident, Age 59. This one really hurts. A true titan in our industry and all-around superb individual, Aaron T. Samson, died on Oct. 20 at age 59 following a freak accident. Samson was CEO of Moxie Energy, a company we’ve written plenty about over the year. Moxie has built a number of Marcellus-fired power plants in Pennsylvania. Aaron was personally, using his own hands, building a house for a close friend (at no cost) in Michigan when he fell, injuring himself, ultimately resulting in his death.
  • Chesapeake Energy 3Q – Slash Drilling 30%, Bankruptcy Possible. Chesapeake Energy, still with a sizable amount of acreage and shale wells in the Pennsylvania Marcellus, issued its third quarter update yesterday. Which happened to set off the chattering class buzzing about the possibility the company is close to declaring bankruptcy. This isn’t the first time “experts” have declared Chessy is close to bankruptcy.
  • Cunningham’s WV Lions Paw Pad Roars, Produces 100K Bbl of Oil. The Big Injun is back in the news. In 2015 Cunningham Energy, a small oil driller based in West Virginia, struck oil in the Big Injun sandstone formation in Clay County, WV. In 2017 the company reported producing 20,000 barrels of oil from two new shallow horizontal oil wells located in Clay County, targeting the Big Injun. Cunningham drilled two more wells on the same pad, the Lions Paw pad, and as of this week that 4-well pad has surpassed producing a total of 100,000 barrels of oil and 91 million cubic feet (MMcf) of “wet” natural gas.

The Shale Gas News sponsored by Linde Corporation

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