Shale Gas News – November 4, 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 air quality, gas tax, royalty deductions and much more last week.

The Shale Gas News has grown to THREE stations! We are now broadcasting with YesFM. 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 guests, we had Tom Shepstone of Natural Gas NOW, Bruce Thompson, President of the American Exploration & Production Council (AXPC) and Joe Massaro of the Bravo Group.

The Shale Gas News, typically, is broadcast live. On the November 4th show (click above), we covered the following new territory (see news excerpts below):

  • ‘Deceptive’ Op-Ed Ignores Data Showing Natural Gas Has Greatly Improved U.S. Air Quality. Just in time for Halloween, the Associated Press facilitated some classic “Keep It in the Ground” fear-mongering Tuesday by publishing an op-ed penned by Texas A&M University professor Gunnar Schade that essentially claims the shale boom has damaged U.S. air quality over the past 10 years.
  • California gas taxes go up today. SACRAMENTO, Calif. (AP) — California gas prices are about to go up. Gasoline taxes will rise by 12 cents per gallon today — and diesel taxes by even more — to raise money for fixing roads and highways. It’s the first of several tax and fee hikes that will take effect after Democratic lawmakers approved them earlier this year, a vote that Republicans see as a key issue in the 2018 election.
  • PA DEP Shuts Down ME2 Drilling in Lebanon, PA for 1 Gal Mud Spill. We chalk this one up as outrageous. The Pennsylvania Dept. of Environmental Protection (DEP) has just shut down further drilling for the Mariner East 2 Pipeline project at Snitz Creek in Lebanon County, PA–because of a “less than one gallon” spill of non-toxic drilling mud. Drilling mud is composed of bentonite–the same clay compound used in kitty litter, toothpaste and cosmetics. A spill of less than a gallon is NOTHING.
  • FERC Humiliates NY DEC, Millennium Can Begin Construction on Pipe. The Federal Energy Regulatory Commission (FERC) has just escalated a much-needed war with the CORRUPT, Andrew Cuomo-directed Dept. of Environmental Conservation (DEC) in New York. We won’t recount the entire history, but the DEC had arbitrarily, after more than one year of review, ruled against issuing a federal water crossing permit for a tiny 7.8 mile pipeline Millennium needs to build from its main pipeline to an electric generating plant under construction in Orange County.
  • Southwestern 3Q17: Huge Swing to Profit, Drilled 43 Marc Wells. Southwestern Energy, one of the biggest drillers in the Marcellus/Utica, delivered their third quarter 2017 update on Friday. Financially speaking the company displayed a remarkable turnaround. In 3Q15 Southwestern lost $1.8 billion! In 3Q16 Southwestern lost $735 million–trimming loses in half. In 3Q17, the company made a profit of $43 million, a swing of more than 3/4 of a billion dollars year over year and a swing of nearly $2 billion if you go back to 2015.
  • Federal Court Says Chesapeake Royalty Deductions Allowed in Ohio. The U.S. District Court in Akron, OH has just made a major ruling that affects all Utica landowners and drillers. In 2015, the Ohio Supreme Court accepted a case that will sound familiar to readers of MDN. The case, known as Lutz v. Chesapeake Appalachia, is about whether or not drillers (Chesapeake in this case) are allowed to deduct certain post-production costs from landowner royalty checks.
  • EQT CEO Signals Company Likely to Split in Two After Rice Merger. It looks like all of the agitating and nasty letters and lobbying by corporate raiders has had an effect on EQT. In June, EQT and Rice Energy announced that EQT will buy out and merge in Rice Energy, to create (in EQT) the largest natural gas-producing company in the United States. A few weeks later, so-called “activist investor” (i.e. corporate raider) Jana Partners, in league with the Cohen family (Atlas Energy) started a proxy fight to block EQT’s takover/merger with Rice.

The Shale Gas News sponsored by Linde Corporation

The post Shale Gas News – November 4, 2017 appeared first on Natural Gas Now.

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