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

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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 Keystone XL Pipeline, oil’s comeback, FERC 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 Anne Bradbury is CEO of the American Exploration & Production Council (AXPC).

The Shale Gas News, typically, is broadcast live. On the April 16th show (click above), we covered the following new natural gas territory (see news excerpts below):

• Oil prices settle up 4% despite big U.S. crude inventory build. Oil prices jumped on Wednesday, as a large increase in U.S. crude inventories failed to soothe worries about tight global supply, with major oil traders expected to shun Russian barrels.  Brent crude settled up $4.14, or 4%, to $108.78. U.S. West Texas Intermediate (WTI) crude futures ended up $3.65, or 3.7%, to $104.25.
• Biden’s Decision To Stop The Keystone Pipeline Absolutely Hiked Gas Prices.  A White House desperate to evade blame for record gas prices is now trying to dismiss claims its decision to stop the Keystone XL Pipeline did anything to amplify Americans’ pain at the pump.  “Any action on Keystone wouldn’t actually increase supply, and it would transmit oil years in the future,” National Economic Council Director Brian Deese told CNBC earlier this month. “What we need right now is to address the immediate supply disruption.”
• Manchin suggests rebranding could bring back canceled Keystone XL pipeline. Sen. Joe Manchin said the Biden administration should support resurrecting and rebranding the canceled Keystone XL pipeline in response to high fuel prices and the war-induced realignment of global energy markets. Manchin told reporters after a dayslong visit to Canada that it would be “foolish” for the administration not to consider supporting the pipeline in order to bring more oil to market now that the United States and other allies, including Canada and the United Kingdom, have committed to stop importing Russian products.
• Oil’s Comeback: Signs Emerge That U.S. Producers Are Ready to Drill More. When it comes to drilling new wells, most U.S. companies have taken a vow of abstinence for the past two years. With oil prices holding above $100 a barrel, those vows get harder to keep. Last week’s rig count showed a large jump in rigs in the U.S., and new data on permits in one key U.S. basin show that activity is ramping up.
• Driller Wins Right to Cancel Pipeline Contract via Bankruptcy. If an upstream (drilling) company with a long-term pipeline contract files for bankruptcy, does that give the company the right to break its pipeline contract? A major shipper on the Rockies Express (REX) pipeline, Ultra Resources, filed for bankruptcy with the express plan to skip out on its obligations to REX. The Federal Energy Regulatory Commission (FERC) stepped in to say it (FERC) has jurisdiction to decide whether or not Ultra (and by extension, other companies) can wiggle out of their contracts via bankruptcy.
• FERC’s Glick Does “Abrupt About-Face” on New Global Warming Regs. In what one industry watcher calls an “abrupt about-face,” yesterday all five Federal Energy Regulatory Commission (FERC) commissioners voted to pull back onerous new regulations to use global warming considerations when approving pipelines. Three Democrat FERC commissioners voted to adopt the new guidelines just one month ago. The commissioners, including Chairman Richard “Dick” Glick, voted to convert the new policies back into draft mode, meaning they don’t apply–not yet anyway. FERC’s Dems still hope to bring them back, after eliciting more public comment.

The Shale Gas News sponsored by Linde Corporation