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Monday, April 18, 2016

04/18/16 Links of the Day: $120 Oil in 2 Years?, Fracking Study's Authors Upset at Results, and More

Townhall:  Authors of UK Fracking Study Dismayed that Fracking is Safe   -   "The authors conclude that heavy truck traffic from fracking operations has a negligible impact on the environment. Here’s the funny part: the authors aren’t all that happy with their own findings. But to their credit, the researchers don’t..."

Pittsburgh Business Times:  Beaver County Prepares for Shell Cracker   -   "Beaver County’s actively getting ready for Royal Dutch Shell’s arrival, whether or not the energy giant ultimately decides to build an ethane cracker plant in Beaver County.  That’s the word from a panel who spoke at..."

Energy in Depth:  Activists Push Phony Talking Points on Injection Well ‘Exemptions’ and Drinking Water   -   "Recently, activists and researchers with close ties to the anti-fracking echo-chamber have been pushing claims that oil and natural gas producers are injecting “toxic chemicals” into drinking water sources – and the EPA allows it through..."

Bloomberg:  Drillers Go Rigless as Gas Price Collapse Heralds Austerity Era   -   "Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging. Explorers have idled drilling equipment at historic rates -- a drop in prices has resulted in the fewest rigs in at least three decades searching for..."

Forbes:  Why U.S. Natural Gas Prices Should Double   -   "Total supply–dry gas production plus net imports–has been declining since October 2015* because gas production is flat, imports are decreasing and exports are increasing. Shale gas production has stopped growing and conventional gas production has been declining for..."

OilPrice.com:  $120 Oil as Soon as 2018   -   "Today, I’m going to try and tackle the reasoning for my ‘wild’ predictions for oil reaching triple digits by the end of 2017. While I am nearly alone in these forecasts, they are not just pulled out of space, but with deep regard for the fundamental supply/demand picture that..."

Press release:  Rice Energy Enters into Stalking Horse Asset Purchase Agreement to Acquire 27,400 Net Undeveloped Marcellus Acres   -   "Rice Energy Inc. (NYSE: RICE) ("Rice Energy") today announced that it has entered into a stalking horse asset purchase agreement ("asset purchase agreement") with a subsidiary of Alpha Natural Resources, Inc. ("Alpha") to acquire Marcellus and Utica assets in central Greene County, Pennsylvaniafor $200 million in cash, subject to..."

The Intelligencer/Wheeling News-Register:  Statoil Gives $100k for 2014 Monroe County Incident   -   "A June 28, 2014, blast at the Statoil Eisenbarth natural gas fracking site in Monroe County contributed to the death of 70,000 fish, frogs, crayfish, salamanders and other aquatic life, according to the U.S. Environmental..."

Well Said:  A Statement on Cabot's Recent Court Motion   -   "Cabot Oil & Gas Corporation filed a motion that asks the Court to set aside the jury’s verdict in the nuisance case regarding two residences in Dimock, Pennsylvania. We believe that the jury’s verdict disregards overwhelming scientific and factual evidence that Cabot acted as a prudent operator in..."

Reuters:  US Shale Oil Firms Feel Credit Squeeze as Banks Grow Cautious   -   "Nearly two years into an epic oil rout, U.S. shale drillers that have upended global energy markets are finally feeling a credit squeeze as banks make their biggest cuts yet to their loans. Every six months, oil and gas producers and their banks negotiate how much credit..."

Bloomberg:  Shale Gas Headed for Biggest Drop in 3 Years, Sharing Oil's Pain   -   "Natural gas production from America’s biggest shale formations is poised to slide by the most in three years as tumbling crude oil prices force the nation’s energy explorers to cut back on drilling for both..."

Press release:  Alphabet Energy & Coyote North Transform Oil & Gas Enclosed Flares Into a New Source for Cleaner Power Generation   -   "Alphabet Energythe global leader in thermoelectrics for waste heat to power (WHP), and Coyote North, a combustion technology expert and service provider, today announced the availability of the Power Generating Combustor (PGC™). Designed for Quad O compliance, the PGC™ is an integrated combustor and solid-state power generator that converts exhaust heat from enclosed flares into electrical power..."

Press release:  Fitch: Many U.S. HY E&P Loans Could Be Marked Classified by OCC   -   "Many U.S. high yield (HY) exploration and production (E&P) firms could have their loans rated as Substandard, Doubtful, or Loss by the Office of the Comptroller of the Currency (OCC) in their next exam, according to new analysis by Fitch Ratings. Sixty seven percent of Fitch's sample has..."

Press release:  Antero Resources Announces First Quarter 2016 Operations Update   -   "As a result of the recent spring borrowing base redetermination, Antero's borrowing base under its upstream credit facility was reaffirmed at $4.5 billion. Lender commitments under the facility remain at $4.0 billion. The bank syndicate, which is co-led by..."

Press release:  Stone Energy Corporation Provides Activity Update and Borrowing Base Redetermination   -   "Stone Energy Corporation ("Stone") today announced an update on its first quarter operational activities and its borrowing base redetermination. First quarter results are expected to be reported in early May 2016. Production for the first quarter of 2016 was approximately 34 MBoe (or 204 MMcfe) per day, above the first quarter production guidance of 32-33 MBoe per day provided by..."


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