Shale Directories Conferences
SAVE THE DATE!
Utica Green Upstream & Midstream Conference
March 25, 2022
Pro Football Hall of Fame
Canton, OH
SPRING 2022 Hydrogen & Carbon Capture Conference
April 21, 2022
Registration OPEN NOW! (this will sell out)
Hilton Garden Inn, Southpointe
Canonsburg, PA
Latest facts and a rumor from the Marcellus, Utica, and Permian, Eagle Ford Plays
Biden’s 5 Moves to Drive Up Oil & NatGas Prices, Confronting Putin Is Not One of Them. Since his first day in office with Executive Orders, Biden moved quickly to drive up oil prices. His “Famous 5 Move” are:
- Killed the Keystone Pipeline which would have brought heavy Canadian crude oil to the refineries in the Gulf of Mexico. Consequently, refineries in the Gulf are buying Russian crude.
- Order the Department of the Interior to stop leasing federal lands for drilling.
- Biden’s buddy John Kerry has been pressuring banks and investors to STOP lending to the oil and gas industry.
- Biden has stopped selling oil and gas leases in the Gulf of Mexico.
- Biden’s appointees to FERC will stop all NatGas and oil interstate pipeline with climate change policies.
Biden told the American public “I’m working like the devil to bring down gas prices.” Actually the opposite is occurring and he’s still trying to limit drilling, pipelines and LNG export facilities.
Putin Funding “Green Groups” to attack Fossil Fuel Companies. Russia’s attack on the Ukraine demonstrates Putin’s success in funding these green groups. The Europeans and especially the Germans and Italians in their push to renewables have left themselves at the mercy of Putin. The Germans are so desperate for less costly energy they are burning lignite coal which is the dirtiest coal there is. Italians get 90% of their NatGas from Russia.
The sanctions will not work. The only solution is for the U.S. to produce oil and NatGas at maximum levels. We have to be world’s #1 supplier of energy.
U.S. Fracking Is the Answer. Fracking is a powerful weapon against Russia. Fracking may be America’s most powerful weapon against Russian aggression. President Joe Biden’s administration was already working to bring down gasoline prices before the crisis and war in Ukraine. Those measures, however, mostly depended on quick fixes such as a suspension of the federal gas tax or an opening of the strategic petroleum reserve. They would do little to relieve the financial hardship of U.S. consumers and nothing to weaken Russia’s geopolitical position. That’s because they don’t address the fundamental problem: The world’s demand for oil is growing faster than its ability to produce oil. A reduction in the gas tax would have no effect on the supply of oil and would increase the demand for it. Likewise, a release from the strategic petroleum reserve would increase the supply of oil now, but because it doesn’t increase production, the bump would be short-lived.
Wildcards Could Send Prices Higher. Two wild cards that could send oil and gas prices even higher. The two big questions are whether the U.S. and other countries will impose sanctions on Russian oil and gas and whether Russia will halt exports to other countries, potentially depriving Europe of oil and natural gas just as prices spike there. Dutch natural gas prices jumped 59%, to 141 euros per megawatt hour on Thursday, which could lead to high power bills for European consumers. Brent crude oil, the international benchmark, rose 7%, to $103.66 a barrel, its first time above $100 since 2014. Oil analysts had already been predicting that oil prices would stay strong, with or without a Russian invasion. The invasion makes it even more likely that prices will keep rising. OPEC has so far shown little appetite for increasing production and other producers have been slow to ramp up production. Absent a recession, supply shortages should keep oil prices high for a sustained period.
Can Oil Reach $140. The Ukraine crisis is reshaping global energy markets and could send oil soaring to $140 per barrel, top energy expert predicts. The price of Brent crude, the worldwide benchmark, hit $106 in the early morning hours on Feb. 23, jumping around 10% on news that Russia had invaded Ukraine. The last time the world witnessed Brent at that level was Aug. 1 of 2014, the tail end of a three-year period in which triple-digit oil exerted a major drag on worldwide economies. But over the past nearly eight years, the reign of substantially sub-$100 crude (Brent averaged in the mid-$70s last year and $42 in 2020) helped greatly to enhance growth and hold inflation super-low in most developed nations. Now, a top energy expert predicts that Brent will rise as high as $140 a barrel within four months and stay in that range for most of 2022. Adjusted for inflation, that’s roughly equal to the prevailing range in the 2011 to 2014 period of super-stiff prices at the pump and high fuel costs for trucking and ocean cargoes that registered at the checkout counters, squeezing household budgets on everything from toys to groceries.
Biden’s ‘Social Costs’ Further Prevents Drilling. Dispute over carbon’s ‘social costs’ could delay oil leases, U.S. says, that Biden administration is appealing a federal-district court ruling in Louisiana that it says could delay lease sales and permits for oil-and-gas drilling on federal lands. At issue is the Biden administration’s attempt to adopt a sevenfold increase in a metric called the social cost of carbon, which assigns a dollar value to the harm caused by greenhouse gas emissions. The metric is used in guiding a variety of government decisions, including the sale of energy leases on federal lands. The Biden administration moved last year to tentatively raise the value to $51 per metric ton, up from $7 per metric ton under the Trump administration.
TX and U.S. Supplying More NatGas to Europe. Texas and the rest of the U.S. supplying more natural gas to Europe recently. There has been a lot of concern in Europe about the supply of oil and gas the continent receives from Russia. With that in the background, the United States has been playing a larger role in supplying oil and gas to the European market. The Texas Independent Producers & Royalty Owners Association (TIPRO) says this winter, U.S. exports of liquefied natural gas (LNG) to Europe is breaking records, and that, “Of the 98 LNG cargoes that departed the United States in January 2022, 75 were sent to Europe”. The association adds that U.S. LNG exports to the E.U. and the U.K. went, “From 3.4 billion cubic feet per day (Bcf/d) in November 2021 to 6.5 Bcf/d in January 2022—the most LNG shipped to Europe from the United States on a monthly basis to date”. And if there is an interruption of Russian oil and gas to that continent, TIPRO predicts Texas could be positioned to have a role in filling some of that potential void, “Texas single-handedly accounts for roughly a quarter of U.S. natural gas production. In fact, more than 85 percent of the additional planned U.S. LNG export capacity will be in the Gulf of Mexico and supplied largely by Texas natural gas.”
Chesapeake 4th Qtr. Results. They Were Good! Chesapeake reports higher profit, raises forecast on soaring crude prices. Shale oil and gas producer Chesapeake Energy Corp (CHK.O) said on Wednesday its adjusted profit rose nearly 15% in the fourth quarter from the third and raised its 2022 earnings forecast amid surging oil prices. Oil and gas prices have jumped in recent months on strong demand due an economic rebound from the pandemic, while supply growth has lagged. U.S. crude futures settled at $92.10 per barrel on Wednesday, up nearly 50% from the same time last year. Chesapeake raised its forecast for 2022 earnings before interest, depreciation, amortization and exploration (EBITDAX) to between $3.8 billion and $4.0 billion, compared with an earlier estimate of between $3.4 billion and $3.6 billion.
Why Are We Buying Russian Oil? Why Is the U.S. still importing so much Russian oil and petroleum products? Here’s a flashing neon sign that U.S. energy policy has gone terribly, terribly wrong. Throughout 2021, the U.S. has imported 12 million to 26 million barrels of crude oil and petroleum products per month from Russia — that same country we keep enacting new sanctions on, in an effort to deter Vladimir Putin’s territorial ambitions. The most recent month from the Energy Information Agency’s figures is November 2021, at 17.8 million barrels. Last spring, imports of Russian oil hit the highest level in a decade; in August, Russia became the second-highest exporter of oil to the United States. Think that might be a reason Putin feels so confident?
Post Office Sticks with Gas Vehicles. USPS shuns Biden EV push, locks in plan for gas trucks. The U.S. Postal Service has finalized a plan to replace its aging mail trucks with mostly gasoline-powered models, defying calls for more electric vehicles from the Biden administration, Democratic lawmakers and environmentalists. In a record of decision released yesterday, the USPS stuck with its proposal for a 10-year contract with Wisconsin-based Oshkosh Defense LLC to supply up to 165,000 new mail trucks, with only 10 percent required to be battery electric and the remaining 90 percent allowed to be gas-powered vehicles. The decision is the last step of the federal environmental review process and allows USPS to move forward with its first $482 million order.
EU Needs to Break Free from Russian NatGas. E.U. will unveil a strategy to break free from Russian gas, after decades of dependence. The strategy to split from Russian energy, expected to be announced by the European Commission next week, would give Europe a freer political hand against Russia than it has had in the past. It would take years and come with a hefty bill for European taxpayers. But it comes with the crucial backing of Germany, a nation so entangled with Russia that one of its former chancellors, Gerhard Schröder, is the chairman of Rosneft, Russia’s biggest oil company. With this week’s arrival of Russian boots on Ukrainian soil, Germany had enough. Chancellor Olaf Scholz shelved the Nord Stream 2 gas pipeline between Russia and Germany, a new project that was emblematic of Europe’s energy-focused approach to Russia.
NATO Has Run out of NatGas. The upcoming polar plunge will cause temperatures across the northern United States to drop by as much as 50 degrees, during a time when war may break out in Europe. This is a reminder of how important affordable American energy sources are. Europe is weak because it is in the grip of an energy crisis with some prices soaring tenfold in the last two years. Europe depends for nearly 30% of its oil and gas supplies on Russia, while German manufacturing is particularly dependent for energy on Russia after environmentalists forced Germany to dismantle all 17 of its nuclear power plants that did not even contribute to any climate change.
Range Returning to NE PA. Range to return to drilling in northeastern Pennsylvania. Range Resources is planning this year to do something it hasn’t done in five years: Drilling a group of natural gas wells in northeastern Pennsylvania. In fact, for much of that time during the decline in commodity prices before 2021, Range’s northeastern Pennsylvania portfolio was up for sale. But that’s not the case anymore, and Range is returning to drill there: Tucked away in a 45-page slide deck that went with its fourth-quarter and full-year financial results released Wednesday was a page outlining plans to drill nine wells outside of its core in southwestern Pennsylvania.
Shell LNG Demand Up 90% by 2040. (Thanks, MDN) Shell, which recently dropped “Royal Dutch” from its name after leaving The Netherlands due to high taxes and overregulation, is one of the world’s supermajors (oil and gas driller). Shell is also one of (perhaps THE) largest producers of LNG, or liquefied natural gas, in the world. The company has just released its sixth annual LNG Outlook 2022 which highlights key trends in 2021 and hauls out the crystal ball to predict where things are heading over the next 20 years. Shell says global demand for LNG is expected to nearly double (up 90%) to 700 million tonnes by 2040. Why? Because NatGas emits less carbon dioxide into the atmosphere than other alternatives.
NatGas ‘Responsible’ Label. Why? US gas industry pursues ‘responsible’ label to keep customers. Like organic grain or cruelty-free cosmetics, US natural gas producers have embraced a new label to market their fuel to concerned consumers: “responsibly sourced”. ExxonMobil, EQT and Chesapeake Energy are among the companies supplying gas certified as such by third parties, which say that they monitor for methane leaks and other forms of ecological damage such as spills and water contamination. “If you want to make the world a better place, the answer is not to end fossil fuels next year. That’s just not practical,” said Rich Weber, chief executive of Penn Energy Resources. “The better way is to make sure that natural gas is produced responsibly.”
U.S. NatGas Superpower. “We are a gas superpower.” Ex-Trump regulator says US natural gas can help Europe. The decision by Germany to halt the certification of Nord Stream 2 underscores the critical role US natural gas can play on the world stage, former top energy regulator Neil Chatterjee told CNN on Tuesday. “We are a gas superpower. We just need to be able to get it out of the ground and get it to market,” Chatterjee, who served as America’s top federal energy regulator until November 2020, said in a phone interview. The United States is the world’s largest producer of natural gas and last year for the first time it became the No. 1 exporter of liquefied natural gas (LNG), surpassing Australia and Qatar.
The Cost of Anti-Pipeline Politics. The true price of anti-pipeline politics. Despite the existence of an effective, rigorous regulatory system, pipelines continue to be vilified by a small but vocal group of activists as environmental monstrosities built without regard for local communities and their surrounding ecosystems. This narrative and its consequences are encapsulated by the fight over the Dakota Access Pipeline (DAPL), critical oil infrastructure that has operated safely for years, has overwhelming public support, and is already the most studied and regulated pipeline in US history.
Blackstone Driving Up Inflation. Blackstone swears off oil-patch investing as private equity’s retreat widens. Blackstone Inc., once a major player in shale patches, is telling clients its private equity arm will no longer invest in the exploration and production of oil and gas, according to people with knowledge of the talks. The firm’s next energy fund won’t back those upstream investments — a first for the strategy. Blackstone’s credit arm is swearing them off too. Private equity’s withdrawal adds to a number of pressures on the American oil patch that have contributed to the pain at the pump for U.S. consumers.
Bitcoin & TX Energy Companies. Bitcoin, Texas energy companies forming unlikely alliance as both face critical challenges. Oil producers have long used flaring to burn off natural gas, a byproduct of crude production, in far-flung fields that aren’t served by pipelines to take it away. Cryptocurrency miners, who are paid in digital currency such as bitcoin, require huge amounts of cheap energy to power the fleets of powerful computers searching for answers to extremely complex computational math problems. “It’s a no-brainer,” said Matt Lohstroh, co-founder of Beaumont-based Giga Energy, which uses natural gas to mine bitcoin instead of burning it off.
PA Permit February 14, to February 24, 2022
County Township E&P Companies
- Greene Wayne Rice
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Rush Repsol
- Susquehanna Springfield Coterra
- Susquehanna Springfield Coterra
- Susquehanna Springfield Coterra
- Susquehanna Springfield Coterra
- Westmoreland Bell CNX
- Wyoming Windham Chesapeake
- Wyoming Windham Chesapeake
OH Permits February 13, to February 19, 2022
County Township E&P Companies
- Belmont Wheeling Ascent
- Belmont Wheeling Ascent
- Belmont Wheeling Ascent
- Belmont Wheeling Ascent
- Columbiana Hanover EAP OHIO
- Harrison Green Ascent
- Harrison Green Ascent
- Jefferson Wells Ascent
WV Permits February 14, to February 18, 2022
- Doddridge Antero
- Marshall SWN
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