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On June 3, the Independent Fiscal Office reported shale gas production in Pennsylvania dropped from 1,939 billion cubic feet in the fourth quarter of 2023 to 1,881 billion cubic feet in the first quarter of 2024.
Major shale gas producers like Chesapeake Energy, EQT and others announced plans to intentionally reduce production in hopes of increasing the price of gas.
The number of new shale gas wells also dropped slightly from 110 in the fourth quarter to 100 in the first quarter of 2024.
The price of natural gas in Pennsylvania was unchanged from the fourth quarter at $1.69 per MMBtu (million British thermal units).
The price, however, represents a 24.9% drop from the first quarter in 2023 due to changes in the international price of natural gas.
Click Here for a copy of the report.
PA Oil & Gas Industry Public Notice Dashboards:
-- PA Oil & Gas Weekly Compliance Dashboard - June 1 to 7 - 38 Conventional Wells Evaluated For Plugging; Spills; Failure To Comply With Cleanup Order; Failure To Notify DEP Of 121 Conventional Well Owner Transfers [PaEN]
-- PA Oil & Gas Industrial Facilities: Permit Notices, Opportunities To Comment - June 8 [PaEN]
-- DEP Posted 85 Pages Of Permit-Related Notices In June 8 PA Bulletin [PaEN]
Related Articles This Week:
-- House Environmental Committee Hearing On Road Dumping Oil & Gas Wastewater Set For June 10; A Voting Meeting On Bill To Ban Road Dumping June 11 [PaEN]
-- Better Path Coalition: DEP Removes Co-Product Category From Conventional Oil & Gas Waste Reporting Database; Well Owners Continue To Fail To Report How They Dispose Of Their Waste [PaEN]
-- The Allegheny Front - Kara Holsopple: Former DEP Secretary Wants Spreading Of Conventional Oil & Gas Wastewater On Roads To Remain Illegal
-- DEP Oil & Gas Advisory Board Meets June 13 On Migration Of Waste From Injection Wells; E&S Permitting; Federal Plugging Programs; Updated Conventional Waste Regs; Financial Assurance To Prevent Well Abandonment [PaEN]
-- Independent Fiscal Office Reports Drop In PA Shale Gas Production From 4th Quarter [PaEN]
-- DEP Citizens Advisory Council Meets June 11 To Hear About Mid-Atlantic Hydrogen Hub, Ag-Grid Energy, More On Electronics Waste Recycling [PaEN]
NewsClips:
-- The Energy Age Blog: 3 New EQT Shale Gas Well Pads Ready For Drilling In Union Twp., Washington County
-- Pittsburgh Business Times: Natural Gas Drilling Drops In First Quarter In Pennsylvania
-- Marcellus Drilling News: Martins Ferry WV Council Pressure Ohio Agency To Clean Up PA-Owned Oil & Gas Wastewater Treatment Plant NOW
-- Times Leader: Report: As Fracking Increases, So Do Oil & Gas Industry Inefficiencies
-- Post-Gazette Editorial: Fracking Produces A Resource [Lithium] Needed To Wean Us Off Fossil Fuels - Pennsylvania Should Embrace It
-- Environmental Health News: The Oil & Gas Industry’s Radioactive Problem: Q & A With Author Justin Nobel
-- CNX Resources Gas Company Releases 2023 Corporate Sustainability Report - Radically Transparent, Appalachia First Initiatives
-- Pittsburgh Business Times: EQT, Equitrans Gas Set July 18 Date For Shareholder Vote On Acquisition
-- Reuters: Williams Pipeline Seeks To Put More Of Regional Energy Access Gas Pipeline Project Into Service
-- Delaware Valley Journal Guest Essay: PA Leaders - LNG Gas Expansion isn’t Partisan, It’s Smart - By Taylor Millard
-- Marcellus Drilling News/RBNenergy.com: US LNG Gas Exports Are Climbing As The Impact From Spring Maintenance Work Eases [Note Shipments To China]
-- Bloomberg: Shell CEO Warns Of Risk From Volatile LNG Gas Export Policy In DC Visit
-- Bloomberg: How A Cracked Pipe Caused Panic In Europe’s Natural Gas Market
-- Bloomberg Guest Essay: LNG Gas Market Is Europe’s New Vulnerability
-- Bloomberg: European Natural Gas Jumps 13% As Unplanned Norwegian Outages Cut Supply
-- Reuters: Freeport LNG Gas Export Facility Sues 3 Contractors Over Defects At Texas Plant
-- Reuters: Golden Pass LNG Gas Export Facility Construction Turmoil To Delay Texas Plant’s Startup, Analysts Say
-- Reuters: China’s CNOOC Reports Major Natural Gas Production Breakthrough In 1 Trillion Cubic Meter Gas Region In South China Sea
-- KDKA: Residents And Research Say Shell Petrochemical Plant A Bust, Fell Short Of Economic Promises
-- Beaver County Times: Watchdogs To Monitor Air Pollution From Shell Petrochemical Plant With Penalty Funds
-- TribLive/AP: OPEC, Led By Saudies, Extend Supply Cuts Amid Slack Prices
[Posted: June 3, 2024]
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