Shale Gas News – May 20, 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 OPEC, the Permian Basin, lateral wells 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 Kevin Lynn, Director of Communications at Linde Corporation and Nick Colarossi from NJC Investments. We also played an interview with Mike Atchie, Public Outreach Business Partner at Williams from January

shale gas news

The Shale Gas News, typically, is broadcast live. On the May 20th show (click above), we covered the following new territory (see news excerpts below):

  •  Dakota Access Pipeline spilled oil 84 gallons of oil in S. Dakota. NEW YORK May 10 (Reuters) – The Dakota Access Pipeline leaked 84 gallons of crude oil at a pump station in South Dakota last month, according to state documents, just weeks before the pipeline is set to start commercial service. The spill, the equivalent of two barrels of oil, occurred on April 4 in Tulare Township in Spink County, according to South Dakota’s Department of Environmental and Natural Resources.
  • Pipelines growing with surge in Permian crude. The number of pipelines bringing crude oil from West Texas’ Permian Basin is rising with the surging oil production there and driving up the value of the region’s oil, according to a U.S. Department of Energy report. Since 2010, oil production in the Permian has jumped to 2.3 million barrels a day from less than 100,000.
  • OPEC Still Fundamentally Misunderstands U.S. Oil Industry.  A new report from OPEC estimates that crude oil production from non-OPEC nations will increase by 950,000 barrels per day during 2017.  This is a dramatic increase from last month’s estimate of a non-OPEC rise of 580,000 during the year. This new, much higher estimate has raised concerns within the OPEC cartel that its efforts to balance the global supply/demand equation will require it to either extend its current production limitations into 2018, or to agree to even deeper cuts in its member countries’ own production levels.
  • Trump Nominates Republicans Powelson, Chatterjee to FERC. President Trump reportedly has nominated Pennsylvania regulator Robert Powelson and Neil Chatterjee, senior energy policy adviser to Senate Majority Leader Mitch McConnell (R-Ky.), to fill two Republican vacancies on FERC. Powelson and Chatterjee, who will seek terms expiring in 2020 and 2021, respectively, would restore the commission’s quorum, which was lost in February with the resignation of former Chairman Norman Bay.
  • Great Scott! Eclipse Drills New Longest Lateral in World – in Utica. Eclipse Resources, a Marcellus/Utica pure play driller headquartered in State College, PA that drills mostly in Ohio, has done it again. Yesterday as part of Eclipse’s first quarter 2017 update, the company announced it has broken its own record for drilling the longest land-based lateral well in the world by drilling a Utica well with a lateral that’s 19,300 feet long (3.7 miles).
  • Lease Offer in Harrison County, WV: $1500/Acre + 14% Royalties.  It’s not often we read about lease offers these days. We’re sure they happen regularly, but the only ones you read about are offers made to lease publicly owned land. Such offers for public land are a useful gauge for private landowners. So when we noticed a story about an offer made by Arsenal Resources to the North Central West Virginia Airport (Bridgeport), our eyes and ears perked up.

The Shale Gas News sponsored by Linde Corporation

The post Shale Gas News – May 20, 2017 appeared first on Natural Gas Now.

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