“New York Gov. Kathy Hochul, an extremist liberal, recently signed a bill into law that bans using carbon dioxide to frack wells in the state (see New York Has Fallen: Gov. Hochul Signs CO2 Frack Ban Into Law),” Jim Willis said. “Her predecessor and boss, Andrew Cuomo, previously outlawed “regular” water-based fracking in early 2020 just as everyone was consumed with the unfolding COVID pandemic (see Cuomo PERMANENTLY Bans NY Fracking in Now-Adopted Budget).”
The owner, editor and writer for the Marcellus Drilling News continued.
“Their combined actions are a gross injustice for landowners and consumers in the state. The Southern Tier region of New York (where MDN editor Jim Willis lives) is economically depressed,” Willis said. “Jonathan Lesser, a senior fellow with the National Center for Energy Analytics and the president of Continental Economics, recently published an article in the New York Post outlining his analysis that Hochul and Cuomo’s actions in banning all fracking in the state have locked away some $1 TRILLION worth of natural gas that sits under our feet.”
Willis ended his summary of what is happening in the Marcellus.
“New York remains closed for business.”
From the Associated Press:
Large fossil fuel companies would have to pay fees to help New York fight the effects of climate change under a bill signed Thursday by Gov. Kathy Hochul.
The new law requires companies responsible for substantial greenhouse gas emissions to pay into a state fund for infrastructure projects meant to repair or avoid future damage from climate change.
Lawmakers approved the bill earlier this year to force big oil and gas companies to contribute to the cost of repairs after extreme weather events and resiliency projects such as coastal wetland restoration and upgrades to roads, bridges and water drainage systems.
“The Climate Change Superfund Act is now law, and New York has fired a shot that will be heard round the world: the companies most responsible for the climate crisis will be held accountable,” said state Sen. Liz Krueger, a Democrat who sponsored the bill.
Willis also gives an update on Ohio’s newest discovery with crude oil.
“We’ve been covering the emergence of Ohio Utica oil over the past couple of years (see Utica oil stories here). Other news outlets are beginning to notice the oily Utica,” Willis said.
The experts at RBN Energy published a post on Friday announcing, “Condensate Production Takes Off in Eastern Ohio’s Utica Shale.”
“Condensate is another word for superlight crude oil. The RBN post analyzes recent oil drilling in Ohio, the potential for more growth through the second half of the 2020s, and the impact of Ohio’s increasing oil output on Midwest midstreamers and refiners,” Willis said.
Other news from Willis:
Diversified Buys Another 300 Wells Plus Pipelines in WV & Va.
Diversified Energy, with major assets in the Marcellus/Utica region (also assets in other regions, too), owns approximately 8 million acres of leases with 67,000 (mostly) conventional oil and gas wells. The company’s business model is to buy lower-producing wells on the cheap and find ways to make them more productive.
Earlier today, the company announced another deal to buy more assets in the Appalachian region. Read More
12 New Shale Well Permits Issued for PA-OH-WV Dec 23 – 29
Also for the week of Dec 23 – 29, permits issued in the Marcellus/Utica took a dive, which isn’t surprising given it was the end of the year. There were only 12 new permits issued for Dec. 23 – 29, less than half the 27 issued the week before.
The Keystone State (PA) issued seven new permits, with five going to Repsol in Bradford and Tioga counties and two going to EQT (and Rice, owned by EQT) in Greene County. Buckeye State (OH) issued five new permits, all of which went to Encino Energy (EAP) in Carroll and Harrison counties. The Mountain State (WV), issuing precisely zero new permits.
Must be the WV DEP folks were out of the office for the holiday so no update there. Read More
AccuWeather Says Cold Blast in Northeast Could Stop M-U Drilling
AccuWeather meteorologists who specialize in predicting the weather for the natural gas industry issued a statement to Rigzone saying several Arctic blasts will send waves of bitterly cold air across much of the eastern United States starting last weekend. The meteorologists said the “deep freeze could impact natural gas production and operations in the Northeast.”
They specifically mentioned the Marcellus Shale by name, stating new shale drilling and flows from wells to pipelines “could be impacted by bitterly cold air.” Read More
Jim Willis is owner of Marcellus Drilling News. Willis scours the available news about the Marcellus and Utica Shales each day Monday to Friday and culls from the stack the items that likely would be of most interest to producers, supply chain companies, landowners and anyone with an interest in the northeast shale gas industry.
Click here for the Marcellus Drilling News.
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