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 Divest from Russia, Invest in Freedom, royalty payments, injection wells 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, Jude Clemente, regular Forbes contributor and researcher at JTC Energy Research.

The Shale Gas News, typically, is broadcast live. On the March 19th show (click above), we covered the following new natural gas territory (see news excerpts below):

• Pennsylvania House Republicans Outline Legislative Plans to Divest from Russia, Invest in Freedom. Pennsylvania House Republicans on Tuesday announced their legislative plans to divest from Russian financial assets and invest in freedom by empowering Pennsylvania’s energy producers to meet new oil and gas demands.  House Majority Leader Kerry Benninghoff (R-Centre/Mifflin) noted the importance of divesting from Russian financial assets. “Since we introduced our intention last week to divest Pennsylvania from Russian financial assets, I have been proud to work with the Treasury and our state pension systems as they have taken action themselves to carry out this function. We are continuing to pursue this divestment legislation because it can provide these agencies with a legislatively sanctioned structure to continue with the task they have already undertaken,” Benninghoff said.
• Spot Prices for M-U NatGas in Basement – Dominion South $0.30/Mcf. We’ve been tracking the daily price of the NYMEX December futures contract at the South Louisiana Henry Hub on and off for the past few months. Yesterday it closed down again, at $2.86/Mcf (or MMBtu). However, the “spot price” for gas–actual physical gas bought and sold at various trading points along pipelines–has all but crashed and burned in the Marcellus/Utica. It’s bad. Like, historic record low bad.
• Kimbell Royalty Buys Royalty Payments from M-U Landowners. Kimbell Royalty Partners, headquartered in Fort Worth, Texas, is a leading buyer of oil and natural gas mineral and royalty interests, owning interests in more than 96,000 wells across 28 states, including wells in the Marcellus/Utica region. Yesterday the publicly-traded company issued its third-quarter 2020 update. We discovered some information about their involvement in the M-U, including the Marcellus in northeastern Pennsylvania.
• ExxonMobil Deciding Fate of XTO Asset Value in 4Q. Last week ExxonMobil issued its third-quarter 2020 update. The company announced it is currently reviewing and making a decision about whether or not to write down (impair) the value of its North American dry gas assets–i.e. XTO Energy. If it writes down the value XTO assets, it will take a huge write-down in value (assets currently on the books at a value of $25-$30 billion).
• Seneca Resources Sells 92K Acres of Timberland in PA/NY. The Lyme Timber Company has closed on a deal to buy approximately 92,000 acres of forestland in North Central Pennsylvania and Southwest New York from Marcellus/Utica driller Seneca Resources for $116 million. Wait, why did Seneca own all of that acreage to begin with?
• OH Supreme Court Forces ODNR to Advance 2 Injection Well Permits. A long-stalled request for permits to build two wastewater injection wells in Belmont County, Ohio has just gotten a boost from the Ohio Supreme Court. Last year MDN told you about New Jersey-based Omni Energy Group and their application to build two new injection wells near St. Clairsville

The Shale Gas News sponsored by Linde Corporation