Shale Gas News – August 19, 2017

shale gas news - desRosiers_headshotBill desRosiers
External Affairs Coordinator, Cabot Oil & Gas

 

The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM and Sundays on YesFM, talked about pipelines, Utica wells, Cabot Oil & Gas and much more last week.

Great news, the Shale Gas News is growing to THREE stations! We will be broadcasting with YesFM, starting this weekend. YesFM will be airing the full 60 minute version of the program on Sunday mornings. YesFM broadcasts primarily in Sullivan and Bradford counties, with some ancillary coverage in neighboring counties and even over the border into New York.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as a guests, Mike Atchie, Public Outreach Business Partner at Williams, Nicole Jacobs from Energy In Depth and Bruce Rudoy, a shareholder and co-chair of the Energy and Natural Resources Group and chair of the Mineral Title Department of Babst Calland.

shale gas news

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

  • New Study on Fracking and Schools Comes to a Surprising Conclusion. In recent years, we’ve seen no shortage of scary headlines about how shale development is harmful to schools. Anti-drilling groups say development occurs too close, or that air emissions could harm students’ health (curiously, those claims are rarely supported by any data, and the data that do exist actually suggest the opposite).
  • New Study Shows Business is Booming for Skilled Trades, Thanks to Pipelines. The Oil and Gas Industry Labor-Management Committee, led by the American Petroleum Institute (API) and North America’s Building Trades Unions, released a report this week showing the tremendous amount of work the pipeline industry provided to skilled trades unions from 2006 to 2015. Now that the Federal Energy Regulatory Commission (FERC) officially has a quorum to approve $13 billion worth of projects – equating to 23,000 construction jobs – that have been in limbo while FERC awaited confirmation of new commissioners, this trend of growth and opportunity for local unions should continue in 2017 and 2018.
  • Trump Signs Exec Order to Speed Up Pipelines, Infrastructure Work. Pipeline companies face enormous governmental roadblocks when it comes to building new pipelines. “Red tape” doesn’t begin to describe the hassles they face in going from government agency to government agency in order to build an interstate pipeline. Yesterday, with the stroke of a pen, President Trump helped correct that situation. Trump signed a new executive order that will speed up approvals of permits for highways, bridges, pipelines and other major building efforts by shortening the time for environmental reviews.
  • Update on MarkWest Processing Plant Proposal for Smith Twp. The MarkWest Harmon Creek Complex planned for Washington County, PA continues to make progress. Last fall NGI’s Shale Daily reported that MarkWest planned to build a new processing plant to process natural gas for Range Resources (see MarkWest Building New Processing Plant in Washington County, PA). But following the initial announcement, all went quiet and the project went on “indefinite hold.”
  • Blackstone Group Invests $250M+ in Driller Huntley & Huntley. According to the Wall Street Journal, private equity firm Blackstone Group has invested $7 billion in U.S. natural gas. The way the Journal puts it, Blackstone is “betting” $7 billion, implying it’s a risky roll of the dice. A seriously big chunk of that investment was the recent announcement that Blackstone has bought part ownership of Rover Pipeline for $1.57 billion. However, it was a short paragraph in the WSJ article that really caught our attention.
  • Gulfport Energy 2Q17: $106M Profit, Drills Northern Utica Well. Gulfport Energy, which is the second most active driller in the Ohio Utica, behind Chesapeake Energy, has (so far) drilled 303 Utica wells and owns 211,000 acres of leases in the Buckeye State. Gulfport, which drills mainly in the Utica (but also the SCOOP, in Oklahoma) reported their second quarter 2017 production numbers on July 31. As we pointed out, they separate their production update from their financial update.
  • Cabot O&G Wants Consolidation, Won’t Rule Out PA Marcellus Sale. We have to confess, we are not only shocked, but somewhat distressed at news we are reading that Cabot Oil & Gas is considering all options, including a sale of its Marcellus acreage in Susquehanna County, PA. To be fair, and to keep it in balance, it seems that the company would prefer to add to its Marcellus acreage, rather than sell it. However, chief financial officer Scott Schroeder said at a conference in Denver yesterday that all options are on the table, including a Marcellus acreage sale “if the terms are right.”

The Shale Gas News sponsored by Linde Corporation

The post Shale Gas News – August 19, 2017 appeared first on Natural Gas Now.

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