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 Omnibus package, natural gas output, oil prices 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 played more of the podcast from the Power Hour with Alex Epstein with Toby Rice, the CEO of America’s largest natural gas producer, on America’s strangled natural gas potential.

The Shale Gas News, typically, is broadcast live. On the December 24th show (click above), we covered the following new natural gas territory (see news excerpts below):

• Omnibus package: 4 takeaways on energy and environment. The Senate voted 70-25 Tuesday evening to take up the $1.7 trillion omnibus spending bill that includes modest increases for energy and environment agencies.  While the Senate and House have days of work before final passage, the vote showed there is significant bipartisan support for the bill, even with conservative Republicans rallying for its defeat.
• Biden Cabinet member’s daughter lobbying Congress on issue her mom has final say on: ‘Conflict of interest’ – Interior Secretary Deb Haaland’s daughter Somah Haaland traveled to Washington, D.C., last week to lobby federal lawmakers to support a moratorium on oil and gas leasing near a historical site in New Mexico. Somah Haaland – who is a media organizer for the Pueblo Action Alliance, a cultural and environmental group in New Mexico – traveled to Capitol Hill alongside a group of fellow climate activists, according to the environmental group WildEarth Guardians.
• U.S., Canada natgas output could hit growing pains in 2023. U.S. and Canadian natural gas production is expected to hit new records in 2023, but growth may be slow due to weakened demand, pipeline bottlenecks and a lack of new liquefied natural gas (LNG) export plants.  Gas demand surged worldwide after Russia cut off Europe’s primary supply, and the United States and Canada are expected to feed copious demand for exports in coming years, bolstered by high prices.
• Dan Yergin says there’s a chance oil could go as high as $121 a barrel when China fully reopens. Dan Yergin expects oil at $90 in 2023 but says there’s a chance it could go as high as $121 when China fully reopens, but warned there are three major uncertainties looming over the market.  “Our base case for 2023 is $90 for Brent but you have to look at other cases,” the S&P Global vice chairman said, adding there are three major uncertainties: the Federal Reserve’s decisions, China demand and Moscow’s reaction to the price caps.
• Analysis: Private U.S. energy producers tap niche funding as bank lines dry up. Private U.S. oil and gas companies are increasingly turning to a niche financing structure that securitizes their production, providing a funding avenue for producers and owners as traditional sources become more expensive or simply dry up. Known as PDP asset-backed securitizations (ABS), this product takes revenue generated by companies’ proved, developing and producing (PDP) oil and gas operations and uses that cash flow as collateral for a bond that is sold to investors.
• Domestic Oil, Natural Gas Permitting Slumps in November, but Trajectory for Record Year. U.S. oil and gas permitting fell for the second month in a row in November, but it continues on track for a year-end high, according to Evercore ISI. The domestic permit count declined by 7% month/month (m/m) last month, down by 245. The pullback came after October slumped by 16% from September.  Still, the permit count remained nearly 35% higher from November 2021 and 198% up from November 2020 numbers, the Evercore analysts led by James West said. Last month’s count was about 4% below November 2019 figures, though.

The Shale Gas News sponsored by Linde Corporation

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