Posts Authored by Matt W. Warnock

West Virginia senators push for Appalachia natural gas storage hub

West Virginia's U.S. Sens. Joe Manchin and Shelley Moore Capito are urging federal officials to consider building a major natural gas storage and distribution hub in the Appalachian region, reports The Associated Press. The news service says the senators state in a letter to National Economic Council Director Gary Cohn that the White House should examine “the numerous benefits" of putting a natural gas liquids-storage and distribution hub in Appalachia, which has “growing but still underutilized” reserves of natural gas. For more, read the full story.

National, West Virginia

Report: Appalachia could become major petrochemical center

A new report from the American Chemistry Council says the Appalachian region could become a major petrochemical and plastic resin manufacturing center similar to the Gulf Coast. According to Oil & Gas Journal, the report presents a scenario that includes development of a storage hub for natural gas liquids and chemicals, a 500-mile pipeline distribution network and associated petrochemical, plastics, energy and manufacturing facilities in West Virginia, Pennsylvania, Ohio and Kentucky. The report also estimates that by 2025, the four-state region could see 100,000 permanent new jobs from such development. For more, read the full story.

Ohio, Pennsylvania, West Virginia

Natural gas making a comeback in Haynesville shale play

Natural gas production in the Haynesville shale play in East Texas and Louisiana is expected to climb for the seventh straight month in June, and reach its highest level since October 2014, Bloomberg reports. The news service says natural gas output in the play had fallen to a six-year low because of tumbling prices and competition from “gushier, more profitable wells” in Pennsylvania and West Virginia. Bloomberg says Haynesville natural gas has become more valuable due to pipeline bottlenecks in the eastern United States, the play’s “vast [pipeline] network linking the Haynesville to the rest of the country” and proximity to a new liquefied natural gas export terminal in Louisiana. For more, read the full story.

National, Pennsylvania, West Virginia

Oil production continues to rise in Utica shale play

Oil production in Ohio’s Utica shale play has been "showing a slow ramp up" in 2017, reports the Youngstown Business Journal. Citing data from the U.S. Energy Information Administration (EIA), the newspaper says wells across the shale play are projected to produce 54,807 barrels of oil per day in June, an improvement of 1,000 barrels per day compared with May. In addition, EIA projects that Utica wells will produce 4.431 billion cubic feet of natural gas per day in June, an increase of 49 million cubic feet per day versus output in May. For more, read the full story.

Ohio

Pennsylvania groups fight court ruling on waterway pollution

Nearly 100 elected officials, environmental groups and businesses have signed on to legal briefs to support the Pennsylvania Department of Environmental Protection (DEP) in a state Supreme Court case that could restrict maximum fines for pollution to waterways, reports the Pittsburgh Post-Gazette. The newspaper says DEP is appealing a Commonwealth Court of Pennsylvania decision from January, 2017 in a suit brought by EQT Corp., a natural gas production company. The court ruled fines for spills into streams and groundwater “must be based on the duration of the initial release and not on the days pollution continues to flow through the hydrologic system or seep out of contaminated soil,” according to the Post-Gazette. For more, read the full story.

Oil & Gas Litigation, Pennsylvania

Noble Energy to sell Marcellus-focused Cone Gathering for $765 million

Reuters reports that Noble Energy Inc. plans to sell its 50% stake in Marcellus shale-focused Cone Gathering LLC to Quantum Energy Partners for $765 million. The sale includes 21.7 million units in Cone Gathering LLC and represents a 33.5% stake in Cone Midstream Partners LP, which owns natural gas pipelines in the Marcellus shale play in Pennsylvania and West Virginia, according to Reuters. The news service says the announcement came less than three weeks after Noble reported it would sell all of its natural gas production assets in the Marcellus shale region to focus on expansion in the oil-rich Permian Basin in Texas. For more, read the full story.

Pennsylvania, West Virginia

Saudis, Russia favor extension of oil production cuts

Saudi Arabia and Russia favor prolonging oil production cuts through the first quarter of 2018, Bloomberg reports.  According to the news service, energy ministers from both countries said longer production cuts at already agreed-upon volumes are needed to reduce global oil inventories. Russia and Saudi Arabia, the largest of the 24 producers that agreed to cut output for six months starting in January 2017, are reaffirming their commitment to the deal amid growing doubts about its effectiveness, Bloomberg says. For more, read the full story.

Global

Eclipse drills another record lateral in Utica shale play

Eclipse Resources has again drilled what it says is North America's longest lateral for an oil and natural gas well, according to Kallanish Energy. The news site says Eclipse's "Great Scott 3H" well in eastern Ohio's Utica shale play stretches 27,400 feet from the surface to its endpoint, including a lateral that is nearly 1,000 feet longer than the previous record at the company's "Purple Hayes" well in Ohio. For more, read the full story.

Ohio

Big production gains by independent drillers hamper efforts to reduce oil glut

The biggest oil exploration companies in the world “are being left in the dust” by production gains registered by “nimbler shale oil specialists that are confounding OPEC’s glut-killing efforts,” Bloomberg reports. None of the "super-major" oil companies increased output by more than 3.6% in the first quarter of 2017, according to the news service, while smaller companies such as Diamondback Energy, Concho and RSP Permian reported increases of 30% or more. Bloomberg says the rising output of such independent, shale-focused drillers are hampering efforts to reduce an oil glut that has kept prices at $50 a barrel or less. For more, read the full story.

Global, National

Consol Energy bullish about drilling in Utica shale play

Consol Energy CEO Nick DeIuliis recently told the Pittsburgh Post-Gazette that his company is optimistic about its ability to drive down the cost of producing natural gas in the Utica shale play. The newspaper says that is the case even though oil and gas companies believe the Utica cannot yet compete economically with the Marcellus shale play. For more, read the full story.

Ohio, Pennsylvania, West Virginia
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