The U.S. rig count rose last week for the third week in a row, albeit by just a single rig. The national rig count added one for 625 active rigs. We remain near the lowest point of active rigs running since February 2022. As we said last week when two rig were added, it feels…
Read More...The Baker Hughes rig count has crashed this year compared to last year’s numbers. A few months ago, we began to chronicle the weekly rig count to keep track of this alarming situation (which we post about every Monday). U.S. Energy Information Administration (EIA) analysts have taken notice of the crashing rig count and asked…
Read More...The U.S. rig count rose last week for the second week in a row, albeit just slightly. The national rig count added a piddly two rigs for 624 active rigs. We remain near the lowest point of active rigs running since February 2022. It feels like a dead cat bounce to us. The count in…
Read More...The U.S. rig count actually rose last week, adding a piddly four rigs to 622 active rigs (regaining the four it lost the week before). We remain near the lowest point since February 2022. The count in the Marcellus/Utica, after falling by one three weeks ago and holding steady two weeks ago, gained one rig…
Read More...Once a month, U.S. Energy Information Administration (EIA) analysts issue the agency’s Short-Term Energy Outlook (STEO), their best guess about where energy prices and production will go in the next 12 months. Last month, the report predicted new all-time highs for natural gas production in 2023 (see Record High NatGas Production & Demand in 2023…
Read More...Norwegian company DNV operates as a quality assurance and risk management company. It offers supply chain, data management, technical assurance, software, and advisory services. DNV recently published its annual Energy Transition Outlook 2023 (copy below). DNV’s predictions are somewhat shocking. The company is a global warming Kool-Aid drinker, believing we’ll all toast if we don’t…
Read More...The U.S. rig count dropped again last week, for the third week in a row. The count shed another four active rigs, now down to 619 — the lowest point since February 2022. The count in the Marcellus/Utica, after falling by one two weeks ago, held steady last week at 38, which is the lowest…
Read More...U.S. natural gas exports set a record high in the first half of 2023, largely thanks to LNG exports. However, don’t forget that nearly as much natural gas is exported to Mexico and Canada via pipelines as LNG is exported to other countries via cargo ships. For the first six months of 2023, the U.S….
Read More...U.S. Energy Information Administration (EIA) forecasters are predicting a sharp drop in natural gas demand in the power sector in the coming decades based on an expectation that unreliable renewables will add tremendous new capacity build-out and will accelerate and displace other sources. However, EIA’s forecasts over the past decade have “consistently and severely” underestimated…
Read More...Although we have a companion story from today’s lineup that criticizes the U.S. Energy Information Administration (EIA) for its powers to predict the future (see EIA Consistently Underestimates NatGas Needed for Power Generation), the EIA is unparalleled in its tracking and reporting of historical energy data. The expert number crunchers of the EIA recently turned…
Read More...For years, we’ve seen the lie repeated by mainstream media, Big Green shills, and environmental lackeys that fossil energy gets big government subsidies. Let’s put that lie to bed right now. The Bidenistas, who operate the U.S. Energy Information Administration (EIA), very quietly issued a major new report in early August that shows green energy…
Read More...Two weeks ago, the U.S. rig count erased a couple of weeks of anemic gains by dropping 11 rigs from the total, sinking to 630 active rigs, the lowest count since February of 2022 (see Dead Cat Bounce? U.S. Rig Count Cut 11 @ 630, M-U Stays Even @ 39). The active count in the…
Read More...According to a recent analysis by Enverus Intelligence Research, the cost of supply for North American shale producers is expected to continue rising. The remaining top-tier shale drilling inventory across North America *could be* in shorter supply than previously estimated, says Enverus. Rampant cost inflation from the Bidenistas and declining well productivity across the U.S….
Read More...Natural gas development is fundamental to the health and strength of Pennsylvania’s economy, supporting well over 100,000 family-sustaining careers, boosting state tax revenues, and generating billions in economic benefits, according to a new economic impact analysis (full copy below) commissioned by the Marcellus Shale Coalition (MSC). The analysis, released at the kickoff of the SHALE…
Read More...According to the International Gas Union’s (IGU) 2023 Global Wholesale Gas Price Survey report (full copy below), 2022 was THE most turbulent year in the history of gas markets, as the global energy crisis intensified and the global price levels reached record highs. Last year saw record price levels, with Europe’s wholesale prices reaching over…
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