Shale Gas News – November 20, 2021
shale gas news
External Affairs Coordinator, Coterra Energy
Host, Shale Gas News
The Shale Gas News, heard every Saturday at 10 AM on 94.3 FM, 1510 AM, 1600 AM, 104.1 FM and Sundays on YesFM, talked about natural gas exports, gas price probe, Range Resources and much more last week.
The Shale Gas News has grown again to the Williamsport area on stations WEJS 1600 AM & 104.1 FM. The Shale Gas News is now broadcasting in Bradford, Lackawanna, Lancaster, Lebanon, Luzerne, Lycoming, Pike, Sullivan, Susquehanna, Tioga and Wayne Counties, as well as in greater central PA and now the Williamsport area. The Shale Gas News is aired on Saturday or Sunday depending on the station.
Every Saturday Rusty Fender, Matt Henderson and I host a morning radio show to discuss all things shale gas. This week, as guests, we had Dave Williams of the PA Farm County Radio Network and Carl A. Marrara, Vice President of Government Affairs for the Pennsylvania Manufacturers’ Association (PMA).
The Shale Gas News, typically, is broadcast live. On the November 20th show (click above), we covered the following new natural gas territory (see news excerpts below):
- Biden’s First—and Maybe Last—Gulf Oil Sale Draws Big Bids. (Bloomberg) — Oil companies spent $191.7 million buying drilling rights in the Gulf of Mexico on Wednesday, during a robust government auction that underscored the industry’s appetite for new crude as the White House seeks to shifts the U.S. away from fossil fuels.
- Senate confirms energy regulator, completing panel. The Senate on Wednesday confirmed by a voice vote President Biden’s pick to fill an open seat on the Federal Energy Regulatory Commission (FERC) — a body that regulates pipelines, electricity markets and other forms of interstate energy transmission. The chamber voted to confirm Willie Phillips Jr. to the position, alongside a slate of other nominees.
- Natural gas exports, investments expected to swell after a historically challenging year, economists say. A year of shutdowns and hurricanes threatened oil and gas production on the Gulf Coast, but economists with LSU’s Center for Energy Studies predict an upswing in natural gas investments and refinement over the next several years. Oil investments, however, have a less-than-desirable outlook.
- Joe Biden Calls for Probe Into Whether Illegal Conduct Is to Blame for High Gas Prices. President Joe Biden is calling for an investigation into whether illegal conduct is responsible for driving gas prices up. In a letter sent Wednesday to the Federal Trade Commission (FTC), Biden said there’s “mounting evidence of anti-consumer behavior by oil and gas companies.”
- Why Don’t M-U Drillers Drill More? It’s All About that Curve. A few weeks ago MDN tackled the question of why natural gas producers, in general, are not drilling more given the high price of natural gas right now. Today we’re back with additional enlightenment on that topic, focusing on Marcellus/Utica drillers in particular. Based on comments made yesterday by Range Resources’ COO Dennis Degner (see today’s companion article), it’s obvious that M-U drillers are not expanding their programs this year, and even next year, because of the shape of the “forward curve”…
- Range Res. Refuses to Drill More in 2022 – Production to Stay Flat. For a variety of reasons, but mainly due to investor pressure, Range Resources will continue to produce about the same amount of natural gas next year as it is forecast to produce this year: right around 2.1-2.2 Bcfe/d (billion cubic feet equivalent of production every day). That was the takeaway from yesterday’s Range 3Q21 update. The company’s hedges (presales of production at a specific price) hurt the company’s finances.
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