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 the energy tax code, Keystone XL pipeline, U.S. power grid 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 Pennsylvania State Representative Tarah Toohil, serving 116th legislative district.
The Shale Gas News, typically, is broadcast live. On the June 5th show (click above), we covered the following new natural gas territory (see news excerpts below):
- Senate Democrats propose overhauling energy tax code to combat climate change. Senate Democrats are proposing to overhaul the energy tax code in favor of a trio of incentives based on emissions reductions in a move that environmentalists are lauding but Republicans say would disadvantage fossil fuels including shale gas. The bill — from Senate Finance Committee Chairman Ron Wyden, an Oregon Democrat — replaces 44 energy tax breaks and incentives with three emissions-based incentives: clean power, clean fuels, and energy efficiency.
- Judge overrides Biden admin on Keystone XL permit. A federal judge last week overrode the objections of the Biden administration and kept alive a lawsuit challenging presidential authority to issue cross-border permits for pipelines. Chief Judge Brian Morris of the U.S. District Court for the District of Montana said the case against former President Trump’s 2019 permit for the now-suspended Keystone XL pipeline to traverse the U.S.-Canada border can continue — even after President Biden issued an executive order axing the approval.
- Biden suspends oil leases in Alaska’s Arctic refuge. WASHINGTON (AP) — The Biden administration on Tuesday suspended oil and gas leases in Alaska’s Arctic National Wildlife Refuge, reversing a drilling program approved by the Trump administration and reviving a political fight over a remote region that is home to polar bears and other wildlife — and a rich reserve of oil. The order by Interior Secretary Deb Haaland follows a temporary moratorium on oil and gas lease activities imposed by President Joe Biden on his first day in office.
- Oil Price Hits Two-Year High as OPEC Sees More Demand. The global oil-price benchmark closed above $70 a barrel for the first time in two years Tuesday on investors’ optimism that improving demand and a dwindling supply glut may mean the market can absorb any additional production from OPEC and its allies. Brent crude rose 93 cents, or 1.3%, to $70.25 a barrel, the highest close since May 2019. West Texas Intermediate futures gained $1.40, or 2.1%, to $67.72 a barrel. The U.S. gauge settled at its highest level since October 2018.
- Biden Climate Goals to Take Backseat in Biggest U.S. Power Grid. The power grid serving nearly 20% of the U.S. population is about to throw a roadblock in President Joe Biden’s plan to decarbonize the electricity sector. PJM Interconnection LLC, which keeps the lights on for 65 million people from Chicago to Washington, D.C., is expected to clear a fleet of new natural gas plants– and even extend the lives of some coal plants — when it releases the results of its massive electricity auction Wednesday. Thank shale gas!
- Gulfport Energy Emerges from Bankruptcy w/New Board, CEO/CFO Gone. Last November Gulfport Energy, the third-largest driller in the Ohio Utica Shale (by the number of wells drilled), filed for a “pre-arranged” Chapter 11 bankruptcy. Gulfport’s bankruptcy road has been bumpy. The bumps are now gone, along with the former CEO, CFO, and board of directors.
- Seneca 2Q21: 43% Boost in Prod from Shell Assets, 2 Pipes Coming. Last Friday National Fuel Gas Company (NFG), the parent company for Seneca Resources and Empire Pipeline, issued its latest quarterly update for the quarter ending Mar. 31 (NFG’s second fiscal quarter, everyone else’s first quarter). The company’s purchase of Shell’s Marcellus assets last year (450,000 acres, 350 producing Marcellus and Utica shale gas wells in Tioga County) gave Seneca a 43% boost in production in its fiscal 2Q21 over 2Q20. Seneca drilled 14 new wells in fiscal 2Q.
The Shale Gas News sponsored by Linde Corporation
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