Shale Gas News – September 10, 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 OPEC, rolling blackouts, energy projects 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 we replayed an interview with Gordon Tomb, Senior Fellow with the Commonwealth Foundation.

Shale Gas News

The Shale Gas News, typically, is broadcast live. On the September 10th show (click above), we covered the following new natural gas territory (see news excerpts below):

  • OPEC agrees to cut production after oil price slump. OPEC said Monday it would reduce oil production next month, the cartel’s first output cut since the depths of the pandemic, as it braces for a global economic slowdown to hit demand.  The Organization of the Petroleum Exporting Countries and allied oil producing nations, including Russia, agreed to shave 100,000 barrels per day off their production targets in October.
  • California avoids widespread rolling blackouts as heat strains power grid. California has avoided ordering rolling blackouts after electricity demand reached a record-high Tuesday night from excessive heat across the state.  The California Independent System Operator, which oversees the state’s electrical grid, imposed its highest-level energy emergency on Tuesday, a step that comes before ordering rolling blackouts and allows the state to access emergency power sources.
  • Gasoline prices are expected to continue to fall after Labor Day and some states could see below $3. Labor Day marks the end of the summer driving season. While gas prices are elevated, the U.S. avoided the stretch of super high prices that some had feared. Gasoline prices are expected to continue their more than two-month decline over the three-day holiday weekend, as Americans drive less and continue to conserve fuel.
  • Deals pick up in US oil and gas patch among companies flush with cash.  US oil and natural gas producers have embarked on a number of new deals, looking to spend cash windfalls received after commodity prices surged after Russia’s invasion of Ukraine.  EQT, the largest natural gas producer in the US, is nearing a deal worth about $5bn to buy rival THQ Appalachia, which produces gas and owns pipelines in the prolific Marcellus shale region in the north-east US, according to sources familiar with the talks.
  • Manchin’s Plan to Fast-Track Energy Projects Headed for Showdown. Congress is headed for a showdown this month over Democratic Senator Joe Manchin’s plan to fast-track federal approvals of energy projects ranging from natural gas pipelines to wind farms.  Manchin secured a pledge from congressional leaders to advance the legislation, but the proposal is already drawing fierce opposition from environmental activists and progressive Democrats, and the outcome is far from certain.
  • U.S. Natural Gas Futures Shed Over 5% On Soaring Output. U.S. natural gas futures shed around 5% on Tuesday, hitting a four-week low as soaring output coupled with lower demand forecasts drags prices down, despite the fact that inventories are 11% lower than their five-year norm. Output is still holding strong after the latest report from the Energy Information Administration (EIA) for the week ending August 26, which showed a natural gas inventory build of 61 billion cubic feet.

The Shale Gas News sponsored by Linde Corporation

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