Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt. The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…
Articles from Northeast
Pennsylvania Regulators Failed to Protect Public from Natural Gas Development Problems, Says Grand Jury
Pennsylvania Attorney General (AG) Josh Shapiro on Thursday said a two-year grand jury investigation into unconventional natural gas development uncovered “systematic failure” by regulators to protect the public from the risk of industry operations. The grand jury report recommended new state laws to better protect water supplies and manage air pollution. “This report is about…
EIA Cites Dramatic Improvements in U.S. Onshore Drilling Efficiency Amid Record 2019 Oil, Natural Gas Output
Surging U.S. crude oil and natural gas production over the last decade or so has been accompanied by dramatic improvements in onshore drilling efficiency, the Energy Information Administration (EIA) said Thursday. Oil and gas output each hit all-time highs in 2019, even as the average monthly rig count and number of wells drilled per month…
As natural gas demand increasingly shifts to the Gulf Coast for liquefied natural gas (LNG) exports, Tulsa-based pipeline giant Williams will seek to connect more Lower 48 gas supply to its Transcontinental Gas Pipeline Company LLC (Transco) trunkline over the coming years, executives said Thursday at the company’s analyst day in New York.
Growth prospects for Appalachian operators remain limited as the natural gas outlook continues to dim on a variety of factors, according to a panel of analysts from Bank of America Merrill Lynch (BofAML), which recently shared its forecast at the LDC Gas Forums Northeast in Boston.
Transcontinental Gas Pipe Line Co. LLC (Transco) said it would move quickly to file yet again for a key permit after New York regulators denied an application for the Northeast Supply Enhancement Project, which is now imperiled by the decision and poised for further delays.
New York has for now blocked even more Appalachian shale gas from entering the state after denying a key permit for the Northeast Supply Enhancement Project.
Cabot Oil & Gas Corp. exceeded the high-end of its first quarter guidance, producing 2.276 Bcfe/d, or 21% more than it did at the same time last year, as its Marcellus Shale assets in Northeast Pennsylvania continued to outperform.
As major expansions like the 3.25 Bcf/d Rover Pipeline and 1.7 Bcf/d Atlantic Sunrise approach full service, further growing Appalachian takeaway capacity, the wide basis differentials that once dogged the historically constrained Marcellus and Utica shale region are shrinking — a trend that could come into sharp relief this shoulder season.
Even with Northeast output surging, recent bidweek and forwards trading suggests pipeline infrastructure is finally catching up and shrinking the wide basis differentials that once dogged producers in the Marcellus and Utica shales — a trend that could come into sharp relief this shoulder season.