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Co Tenancy Agenda v2

Natural gas is now our main source of electricity, and thanks to the shale production revolution prices collapsed from $8.86 per MMBtu in 2008 to just $2.52 in 2016. Prompt month September prices are now below $2.80, a shoulder month and blue weather maps for the next two weeks mean a bearish market. So far this summer, although hotter on the low demand Western coast, we simply haven't had a prolonged heatwave to increase prices.

The Senate voted Thursday evening to confirm two of President Trump's nominees to the Federal Energy Regulatory Commission (FERC), paving the way for the commission to have its first quorum in six months.

Neil Chatterjee and Robert Powelson were confirmed by unanimous consent and are slated to join the five-member board, which has seen its action paused since February following a pair of retirements.

Charleston, WV – According to a Pricewaterhouse Coopers report released on Aug. 1, West Virginia’s natural gas and oil industry supported 70,900 jobs (direct and indirect) and added $8 billion to the state economy in 2015, the most recent year for which a consistent set of national and state-level data by industry are currently available.

Additionally, the report found that West Virginia ranks 8th nationally in terms of the number of workers supported by the industry as a percentage of all employment. 

Charleston, WV – Natural gas production continued its upward trend in 2016, with a slight increase of more than 32 Bcf or approximately 2.5 percent over 2015 production levels, according to data from the West Virginia Department of Environmental Protection.

Natural gas production for calendar year 2016 rose to 1,347,619,374 Mcf compared to 2015 production of 1,315,247,819 Mcf.

“The continued growth in production, despite a challenging price environment, is a credit to our hardworking women and men, and to evolving technology, which is a hallmark of this industry,” said Anne Blankenship, Executive Director of the West Virginia Oil & Natural Gas Association (WVONGA). “This growth is benefitting all West Virginians by creating jobs and a stable tax base.  However, while it’s good to see growth, West Virginia’s production increases are outpaced by production in Ohio and Pennsylvania,” Blankenship said.  “Those states have modernized mineral development laws to allow for longer laterals and more production.”

Blankenship said Doddridge County (334,486,963 Mcf) was by far the largest natural gas producing county in 2016, followed by Wetzel County, which generated 208,657,073 Mcf.

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