Shale Gas News – October 15, 2022

shale gas news
Shale Gas NewsBill desRosiers
External Affairs Coordinator, Coterra Energy
Host, Shale Gas News

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 U.S. gas storage, oil production, recession risks 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 Jeff Eshelman, the president and chief executive officer of the Independent Petroleum Association of America (IPAA).

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the October 15th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • America’s Natural-Gas Tank is Filling Fast. 460 BILLION CUBIC FEET. That’s how much natural gas has been pumped into U.S. storage facilities over the past month, the biggest four-week build of the shale era, according to Energy Information Administration data released Thursday. Injections of gas into underground caves by traders hoping to sell the fuel for higher prices this winter has reduced by about half the deficit to normal inventories that spooked the market in August and sent prices to their highest levels since frackers flooded the market with shale gas more than a decade ago.
  • Biden hints at action on gas prices. President Joe Biden on Thursday hinted at an upcoming announcement on efforts to lower gas prices. “The price of gas is still too high, and we need to keep working to bring it down,” Biden said during a speech in Los Angeles. “I’ll have more to say about that next week.”  Biden didn’t offer further details, and the White House didn’t immediately respond to a request for comment about future gas price policies. But the president’s remarks — and a potential policy announcement next week — underscore Democrats’ desire to keep gas prices down with less than a month until the midterm election.
  • U.S. oil, natural gas production nears record. Crude oil and natural gas production in the U.S. are headed for new records in 2022 and 2023 as the industry continues to show strength following the crash during the pandemic two years ago.   Crude oil and natural gas production in the U.S. are headed for new records in 2022 and 2023 as the industry continues to show strength following the crash during the pandemic two years ago.
  • War Colliding With Recession Risks Leave Energy Markets on Uncertain Path. Russia’s invasion of Ukraine, along with governments’ reactions to that, might mean that prices rise. Or they could fall on fears of a global economic slowdown. Forecasting the direction of the volatile energy markets has never been easy. But experts say the complexity of market forces brewing now, in the wake of Russia’s invasion of Ukraine, makes it especially difficult to predict the direction of both energy prices and the industry.
  • Manchin presses Biden on U.S. output amid OPEC+ cut. Senate Energy Committee chair Joe Manchin (D-W.Va.) is urging President Biden to marshal executive powers to help boost U.S. oil production following the OPEC+ move to cut output. Driving the news: Manchin, in a new letter, calls the OPEC+ move “reckless” and a revenue boost for Russian President Vladimir Putin’s regime. But he also argues Biden should not look to tap more barrels from authoritarian states. “I am disheartened by reporting which suggests OPEC+’s actions may drive your administration to seek to unlock sanctioned oil production from Iran or Venezuela,” Manchin writes.
  • U.S. Shale’s Debt Detox Is A Huge Win For Shareholders. North America’s oil and gas producers have reduced their total debts by $26 billion since the end of 2019 as the shale industry made the structural shift from spending to grow production to increasing shareholder returns and strengthening balance sheets. The significant debt reduction at North American oil and gas producers, coupled with capital discipline at most shale firms, points to lasting gains for the credit quality of more than 60 such exploration and production firms rated by Moody’s, the credit rating agency said in a report this week.

The Shale Gas News sponsored by Linde Corporation

The post Shale Gas News – October 15, 2022 appeared first on Natural Gas Now. This post appeared first on Natural Gas Now.