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 emissions, royalty settlement, impact fees 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. This week we played part 2 of the interviews from the most recent Think About Energy Briefing.
The Shale Gas News, typically, is broadcast live. On the March 27th show (click above), we covered the following new natural gas territory (see news excerpts below):
- Sustained higher oil prices to spur U.S. output growth: JP Morgan. Sustained higher oil prices are expected to spur higher U.S. oil output this year, JP Morgan analysts said in a weekly note. “At current prices, most U.S. onshore operators are economic, leaving a vast group of operators, from large public companies to private players, in good position to ramp up activity in 2H21 and build solid momentum for higher volumes in 2022,” they said.
- Natural gas companies look to reassure buyers on emissions. More and more liquefied natural gas companies are moving to show buyers they’re serious about trying to rein in greenhouse gas emissions. Driving the news: Spanish energy company Repsol said emissions linked to LNG loaded into a Swedish-flagged chemical tanker would be fully offset via carbon credits. Reuters has more. Bloomberg, meanwhile, reports that Russian natural gas producer Novatek is looking to curb emissions associated with its cargoes via steps like carbon capture at one of its Arctic gas fields.
- House Democrats’ FRAC Act Taking Aim Once Again to Boost Unconventional Drilling Oversight. A group of House Democrats is making another attempt to increase oversight of the oil and gas industry with a package of legislation that was introduced Monday. The legislation, including House Resolution (HR) 4014, takes aim at among other things hydraulic fracturing (fracking), which is used in unconventional drilling to complete wells.
- It Hasn’t Been This Cheap for U.S. Shale Gas to Refinance in Seven Years. It hasn’t been this cheap for shale explorers to raise money on the high-yield bond market since oil was at $100 a barrel in 2014, so they’re jumping on the opportunity to refinance debt at lower rates. Drillers have already sold $11 billion in new junk-rated energy debt through the first 10 weeks of the year, and this quarter is shaping up to be the busiest in at least half a decade, according to Bloomberg Intelligence.
- PA AG Sells Out Landowners in Royalty Settlement with Chesapeake. Chesapeake Energy has screwed over landowners in northeastern Pennsylvania (and elsewhere) for years. Under the provisions of a “settlement” just brokered by PA’s shale-hating Attorney General, Josh Shapiro, Chesapeake will get away with settling the royalty case for pennies on the dollar. The average landowner will get just over $300 from this “settlement.” What a cruel joke. This is all about headlines and showmanship for Shapiro who hopes to run for governor next year. Don’t fall for his “I’m the savior of landowners” schtick. He just sold shale gas landowners down the river in return for a headline his campaign can use.
- Gulfport’s Bumpy Bankruptcy – Asset Transfer, Exec Bonuses Questioned. Last November the 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 has been a bumpy process according to recent filings in the case. According to a “heavily revised” disclosure statement filed by Gulfport, there are “concerns” from the Debtors’ Official Committee of Unsecured Creditors about Gulfport (the parent) transferring $1 billion worth of assets to a subsidiary, Gulfport Appalachia, when both were likely insolvent.
- Greene County, PA Mismanaged Shale Impact Tax – Now Going Broke. This is a cautionary tale that highlights what we have preached over the years. From some of our earliest posts here on MDN, we have cautioned landowners (and rights owners) to treat the lease signing bonuses and royalties they receive in the Marcellus/Utica as an investment and not spend all the money as it comes in on the assumption it will always be there. We have an example of what happens if you spend it as soon as you get it: Greene County, PA.
The Shale Gas News sponsored by Linde Corporation
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