External Affairs Coordinator, Cabot Oil & Gas
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 NYC natural gas needs, Cimarex Energy, MarkWest outage 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 Rep. Josh Kail. PA State Rep. Josh Kail representing the 15th Legislative District.
The Shale Gas News, typically, is broadcast live. On the July 24th show (click above), we covered the following new natural gas territory (see news excerpts below):
- U.S. Natural Gas ‘Off to the Races’ on Strong LNG, Mexico Demand and Producer Discipline. U.S. natural gas demand and prices are “off to the races,” driven by a convergence of supply and demand-related factors as the world emerges from Covid-19, IHS Markit’s Jack Weixel, senior director, said Monday. Liquefied natural gas (LNG) exports to the global market, pipeline exports to Mexico, and capital discipline by upstream producers all have contributed to a “whiplash” in prices from below $2.00/MMBtu in late 2020 to current prices well above $3.00, Weixel told the LDC Gas Forums Northeast Forum in Boston.
- EQT Launches $75M Fund to Investigate Hydrogen, CO2 Storage. Last week MDN told you that EQT Corporation, the largest natural gas driller in the U.S., had released its 2020 ESG report and announced the company would be “net carbon zero” by 2025 or sooner. In a follow-up conference call with analysts, EQT CEO Toby Rice announced he believes EQT could become THE lowest-cost producer of hydrogen in the U.S.–using EQT’s fracked natural gas, of course. In addition, when shale wells run dry, Rice plans to pump carbon dioxide down into the empty wells, something called carbon sequestration.
- National Grid Sounds the Alarm – NYC Needs More NatGas, or Else. Yesterday, National Grid issued its Natural Gas Long-Term Capacity Second Supplemental Report. The report reaffirms the company’s commitment to achieving a mythical so-called “net zero carbon” future. Whatever. The report provides an update on the short- and long-term energy needs of downstate New York customers, reviews the status of targeted solutions identified by the company in 2020, and emphasizes the importance of ensuring that no customer is left behind during the transition to a magical net zero future. How will they accomplish it? According to this updated report, with *more* natural gas.
- Analyst: Cimarex Will Use Cabot as Cash Cow to Grow Permian. An analyst writing on the Seeking Alpha investors website confirms our concerns over the potential merger between Marcellus driller Cabot Oil & Gas and Permian driller Cimarex Energy. From the beginning when the deal was first announced, we voiced concerns that Cabot’s Marcellus program may become the second sister in a merged company.
- Minor Pipeline Leak at Ohio Injection Well Now Fixed. On June 24, the operator of the SOS D-2 injection well in Cambridge, Ohio (Guernsey County) reported a small release from a pipeline that transfers fluid from a storage tank to the injection well. The well’s owner/operator, Silcor Oilfield Services Inc., immediately contained the leak. The Ohio Dept. of Natural Resources (ODNR), which is overseeing remediation of the affected area and repair of the line, says the line is now fully repaired, tested, and (as of July 7) back online and in service.
- Unplanned Outage at 2 WV MarkWest Plants Knocks 2.4 Bcf/d Offline. It doesn’t happen often, but when it does, it’s disconcerting. We’re talking about an “operational event” (i.e. outage) at not one but two MarkWest Energy natural gas processing plants–both in West Virginia. MarkWest’s Sherwood plant in Doddridge County and Mobley plant in Wetzel County are affected. According to NGI’s Daily Gas Price Index, four pipeline receipt locations affected by the outage are scheduled to go to zero beginning today “until further notice.”
The Shale Gas News sponsored by Linde Corporation
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