Shale Gas News – June 3, 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 and 1510 AM, talked about the climate pact, natural gas exports, 3 Mile Island and much more last week.

Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as guests, we had PA State Representative Sid Michaels Kavulich and John Holko, President of Lenape Energy.

shale gas news

The Shale Gas News, typically, is broadcast live. On the June 3rd show (click above), we covered the following new territory (see news excerpts below):

  • America’s Shale Gas Bounty Is Heading Overseas at a Record Clip. America’s natural gas is flowing out of the country at a record pace, helping to ease a supply glut at home while tumbling prices for the fuel entice overseas buyers. When the liquefied natural gas tanker Ribera Del Duero Knutsen left Cheniere Energy Inc.’s Sabine Pass export terminal in Louisiana late Tuesday, it became the 18th ship to depart the terminal in May.
  • Oil rises as Trump decides on climate pact. Oil prices rose on Thursday, lifting energy company shares, on expectations the United States will withdraw from a global pact to fight climate change, while China’s yuan shrugged off weak factory data to hit a seven-month high against the dollar..
  • 3 Mile Island owner threatens to close ill-fated plant. Cheap natural gas could do what the worst commercial nuclear power accident in U.S. history could not: put Three Mile Island out of business. Three Mile Island’s owner, Exelon Corp., announced Tuesday that the plant that was the site of a terrifying partial meltdown in 1979 will close in 2019 unless the state of Pennsylvania comes to its financial rescue.
  • Sunoco LP CEO Mike Hennigan Defects to MPLX/MarkWest Energy.  Mike Hennigan was, until late last year, president and CEO of Sunoco Logistics Partners–builder of the Mariner East pipeline projects and operator of the Marcus Hook refinery near Philadelphia. Sunoco LP has (for years) been a subsidiary of Energy Transfer (ET). Last November, ET announced it was combining two subsidiaries together into one operation–Sunoco LP and Energy Transfer Partners.
  • Alpha Natural Resources Sells 120 Gas Wells in WV. On Tuesday Alpha Natural Resources (ANR) announced it was divesting “substantially all of the assets” in two different operations in West Virginia, one of those being a natural gas operation with “120 producing natural gas wells in five counties.” Which got us digging. We recalled that ANR went bankrupt last year and ended up selling 27,400 acres of Marcellus/Utica Shale leases to Vantage Energy for $339.5 million.
  • WV Supreme Court Reverses Itself, Post-Production Deductions OK. In a decision that will thrill drillers, but anger landowners, the West Virginia Supreme Court decided last week to overturn its own previous decision (from just last December) and allow driller EQT to deduct post-production expenses from royalty payments. Last December MDN reported on the huge West Virginia Supreme Court decision against driller EQT that disallows EQT from deducting post-production expenses from royalty checks, even with signed contracts in place.

The Shale Gas News sponsored by Linde Corporation

The post Shale Gas News – June 3, 2017 appeared first on Natural Gas Now.

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