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 oil prices, Biden’s first 100 days, Cheniere Energy, Inc. 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 natural gas. In this week’s Shale Directories meet a member segment we were joined by Colin A. Diehl, Founder/Chief Operations Officer of Diehlux.
The Shale Gas News, typically, is broadcast live. On the May 8th show (click above), we covered the following new natural gas territory (see news excerpts below):
- BIDEN’S FIRST 100 DAYS: Interior sends ‘clear signal’ promoting wind, targeting oil, gas. Just over 100 days into President Joe Biden’s term, the US Interior Department has already taken several steps to enact his climate and clean energy policies while also taking aim at the fossil fuel sector. As part of Biden’s slew of climate-and energy-related executive orders, he has called on Interior to pause new oil and gas leases on federal lands while the agency reviews the program, a move that drew swift condemnation from the industry and many Republican lawmakers.
- Producer swings to profit as oil rebounds. ConocoPhillips posted its first profitable quarter since the global pandemic broke out last year, a further sign of the industry’s recovery from the worst oil bust in decades. The Houston independent oil and gas producer on Tuesday reported first-quarter earnings of $1 billion, compared with a loss of $1.7 billion during the same period a year ago. Revenue rose by nearly a third to $2.1 billion, compared with $1.6 billion a year ago.
- Oil Prices Continue Ascent. (Bloomberg) — Oil climbed to the highest since the middle of March as reopening efforts and vaccination pushes from the U.S. to Europe underpin hopes for a return to normal demand in the world’s largest economies. Futures in New York gained 1.9% on Tuesday, the biggest daily jump in nearly three weeks, while gasoline futures settled at the highest since July 2018. The U.S. is setting a new target of 70% of U.S. adults receiving at least one Covid-19 vaccine shot by July 4, while British Prime Minister Boris Johnson said his country’s lockdown rules are set to be scrapped in seven weeks.
- Cheniere Energy sees first-quarter lift from strong global LNG market fundamentals. Cheniere Energy delivered to Europe what it described as its first carbon neutral LNG shipment, the company said May 4 as it recorded an almost 5% increase in its quarterly profit because of strong global demand and prices and no cargo cancellations. Global LNG loadings remain robust, up 3.3% year on year through the end of April, with a strong pricing environment incentivizing all marginal supply into the market, as exhibited through significant growth in US exports, S&P Global Platts Analytics data show.
- New PA Strategy on Post-Prod. Deductions – Bill Defines “Royalty” – Have you ever heard the trite but true phrase, “words mean things”? Never has that been more true than in Pennsylvania and the simple word called “royalty.” Somewhere along the way the word “royalty” got watered down and changed. A new bill being introduced by PA State Rep. Eric Davanzo (Republican from Westmoreland County) will clear up the confusion and bastardization of the term royalty, making it easy for everyone to know what can and cannot be deducted from royalties with respect to oil and gas leases.
- Co. Pleads Guilty, Fined $2M for Marcellus Truck Emissions Scam. In September 2018, MDN brought you the news that six men had been charged with conspiring to illegally alter emissions systems on 30+ trucks with heavy-duty diesel engines, trucks used to haul water and wastewater to and from Marcellus Shale wells. All six eventually pleaded guilty. The company involved in the scandal, Rockwater, has now pleaded guilty and will pay a $2 million fine.
- American Energy Partners Buys 467 PA/WV Conv. Wells for $10.8M. American Energy Partners, Inc. (AEPT), based in Allentown, PA, is a small but diversified company. They have their fingers in a number of different oil and gas pies, including subsidies in drilling, remediation, water, valuation services, and education. AEPT announced a new deal today to purchase three conventional oil and gas operators with assets in Western Pennsylvania and West Virginia for $10.8 million. The three operators (unnamed) come with a collective 467 conventional wells and 1,250 MMcfe/d of natural gas production.
The Shale Gas News sponsored by Linde Corporation
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