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 steel tariffs, TransCanada Pipe, Texas LNG expansion and much more last week.
The Shale Gas News has grown again; welcome Gem 104 as our FOURTH station! Gem 104 helps to solidify the Shale Gas News coverage in an important Marcellus region, PA’s northern tier. 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. The Shale Gas News is aired on Saturday or Sunday depending on the station.
Every Saturday Rusty Fender and I host a morning radio show to discuss all things natural gas. This week, as guests, we had Dave Williams of PA Farm Country radio and Rauf Mammadov a resident scholar on energy policy at The Middle East Institute.
The Shale Gas News, typically, is broadcast live. On the May 26th show (click above), we covered the following new territory (see news excerpts below):
- API calls for oil, gas industry exemptions from steel tariffs. The American Petroleum Institute (API) led a coalition of eight industry groups in calling on the U.S. Department of Commerce to exempt natural gas and oil companies from steel tariffs and quotas handed down by the Trump administration under Section 232 of the Trade Expansion Act. “U.S. natural gas and oil companies should be granted relief from the tariffs and quotas on imported steel that will harm U.S. businesses, our economy, and American consumers,” Kyle Isakower, the vice president or regulatory and economic policy at API, said.
- Texas Project Expansions Mark LNG’s ‘Second Wave’ – The developers of an under-construction liquefied natural gas terminal going up in Freeport, Texas, have applied to expand it to export more LNG, while another project expansion announced plans yesterday to move forward. The Freeport LNG project is currently authorized to build three LNG “trains,” each of which could liquefy up to 500 million metric tons per year (mtpa) of natural gas and sell them into world markets.
- Donation from Exxon and Employees Underscores Vital Role of O&G in Funding Ohio Education. ExxonMobil, XTO Energy and its current and former employees contributed more than $852,000 to 33 Ohio colleges and universities in 2017, the company announced this week. Part of the ExxonMobil Foundations 2017 Educational Matching Gift Program, the company generously matched almost $217,000 from current and former employees on a three to one basis.
- Rex Energy Owes Nearly $1B – Who They Owe & How Much. Last week Rex Energy filed for Chapter 11 bankruptcy protection. Right after filing, the company announced it has put up essentially all of its Marcellus/Utica assets (leases, wells, etc.), for sale, in order to pay off what it owes. Which begs the question: What does the company owe? As it turns out, it’s close to $1 billion. The company, in a filing made on the first day of bankruptcy proceedings, included a list of who it owes, for what purpose, and how much–totaling $984.5 million.
- TransCanada Pipe Construction Crew Helps Locate Missing WV Boy. It’s every parent’s worst nightmare. Last Monday afternoon a three year-old boy wandered into the woods near his home in Jackson County, WV and got lost. The parents could not find him. WV State Police and several local fire departments aided in a search effort, canvasing the woods. TransCanada is building the Mountaineer XPress Pipeline project several miles from where the toddler went missing. Upon hearing of the missing boy, the people in charge of the project flew into action, delivering supplies and port-a-potties to the searchers. They also provided maps of the area made by TransCanada–maps which ended up being instrumental in finding the boy.
- Fire Sale: Rex Energy Selling Everything to Pay Back Lenders. Some even sadder news to share about Rex Energy. On Friday we told you that Rex had filed for Chapter 11 “voluntary” bankruptcy protection. After our story, Rex released a press release to announce not only are they seeking Chapter 11 protection, they are, as of now, putting all of their Marcellus/Utica assets (wells, leases, etc.) up for sale–in both Pennsylvania and Ohio. The stated reason is to “maximize their long-term value and prospects.”
- Rice Brothers Act II – $200M Marcellus/Utica Investment Firm. Good news! The four Rice brothers, all of whom formerly worked in the family business, Rice Energy, have launched a new venture. You will recall last November EQT consummated a deal to buy and merge in Rice Energy, paying $8.2 billion to do so. Not all of that money went into the pockets of Dan, Toby, Derek and Ryan Rice–but you can be sure a good chunk of it did. We’ve been wondering where the Rice boys would land since they have a non-compete clause with EQT. Would they leave the Pittsburgh region and restart somewhere else? Fortunately, no!
The Shale Gas News sponsored by Linde Corporation
The post Shale Gas News – May 26, 2018 appeared first on Natural Gas Now.
https://www.shaledirectories.com/blog/shale-gas-news-may-26-2018/
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