shale gas news
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 PA DEP, spot gas prices, Tilden Marcellus LLC 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 Congressman Fred Keller, representing the 12th District of Pennsylvania.
The Shale Gas News, typically, is broadcast live. On the February 26th show (click above), we covered the following new natural gas territory (see news excerpts below):
- PA DEP Goes Rogue, Sues in State Court to Force Carbon Tax. The Pennsylvania State Dept. of Environmental Protection (DEP) has engaged in some questionable activities in the past, but this time they’ve stepped WAY across the line. Last Thursday the PA DEP filed a lawsuit in Commonwealth Court to force the state to adopt the Regional Greenhouse Gas Initiative (RGGI), a blatant tax on carbon dioxide produced by gas- and coal-fired power plants. Thing is, it’s illegal for the state to adopt RGGI right now while the state legislature still has a window of time to vote on overriding Gov. Tom Wolf’s veto of a resolution that would have stopped RGGI. Constitutionally, legally, statutorily, the legislature has a certain number of days to attempt an override.
- MPLX (MarkWest) Expands in Marcellus/Utica in 2022, New De-ethanizer. In late 2015 MPLX (i.e. Marathon Petroleum) bought out and merged in the Utica Shale’s premier midstream company, MarkWest Energy, for $15 billion. The “new” MarkWest, aka MPLX, plays on a much larger stage now, including ownership and operation of major assets in the Permian Basin and in the Bakken Shale, in addition to the Utica/Marcellus. Last week MPLX issued its fourth quarter and full-year 2021 update. Among the good news is that MPLX will increase spending in 2022, and some of the increase will go to projects in the M-U.
- Marcellus/Utica NatGas Spot Prices Nosedive, Down ~$1/MMBtu. According to S&P Global Platts, spot gas prices across the northeast and Appalachia were “trading sharply lower Feb. 7.” It is, says Platts, “a dynamic that could continue into the second week of February, as stronger regional gas production and higher temperature forecasts loosen supply and demand fundamentals.” How much lower are prices trading? The Eastern Gas South trading hub (formerly Dominion South) fell by almost $1/MMBtu yesterday. The Columbia Gas, Appalachia trading hub fell more than $1.
- EQT, Shell, Others Launch CCUS/Hydrogen Hub Initiative for OH-PA-WV. EQT, Equinor, Shell Polymers, U.S. Steel, and several other companies with either a base of operations or major interest in the Marcellus/Utica region, yesterday announced a new initiative to establish a carbon capture, utilization & storage (CCUS), as well as hydrogen production and utilization hub. A CCUS/H2 hub, if you will. While no specifics were announced, the aspiration seems to be establishing several facilities that capture, store or reuse carbon dioxide created during industrial activities, and figure out how to create more hydrogen (H2) and use it as a power source and (perhaps) as a raw input for manufactured products. Ultimately the aim of the group is to generate more business in the Appalachian region by committing to reduce CO2 emissions.
- Tilden Marcellus Files for Voluntary Chapter 11 Bankruptcy. Tilden Marcellus LLC, a Canonsburg, Pa.-based oil and gas company, filed for chapter 11 protection last Friday in the Bankruptcy Court for the Western District of Pennsylvania. Tilden is a “sister company” to Rockdale Marcellus. You may recall Rockdale went through bankruptcy last year, resulting in the sale of substantially all of its assets (in Pennsylvania) to Repsol for $220 million in cash. Tilden, while tightly related to Rockdale, has its own assets separate from Rockdale (less than $50 million).
The Shale Gas News sponsored by Linde Corporation
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