Oil and Gas headed for a rebound?

The oil and gas industry has provided enormous economic opportunities in places like the Pittsburgh region, from shale gas development or “fracking,” in the Marcellus and Utica shales. But will this recent downturn turn back around again soon? The answer is yes, according to the experts at Harts.

(related “Tip of the ethane iceberg” see MatthewPitzarella.com)

According to an article “Analysts: ‘Rebound’ Coming For Oil And Gas” that appeared in Midstream Business quoting Hart Energy’s Stratas Advisors John Paisie:

“Economic indicators point to a near-term uptick in the oil and gas business after a long and painful downturn, Stratas Advisors researchers told a Midland, Texas, audience March 22.

“We are poised for a rebound,” John Paisie, executive vice president of Hart Energy’s research arm, said in his presentation to the 2017 Permian Basin Outlook Breakfast at the Midland Country Club. There are positive trends, such as Europe’s improving economy and a counterbalance of lingering oversupplies. “We will have a production-demand crossover as the world market rebalances,” Paisie added.”

You really need to read the full piece, which looked at macro factors through the prism of the Permian Basin where the presentation was delivered.

“Natural gas is another matter for Permian producers, Haas said, because “we still have growing production from the Beast of the East—the Marcellus and Utica—that is really driving natural gas production now.” As with crude, gas exports will be key, he added. Exports to Canada are down because Canadian gas is discounted even more than U.S.-produced gas. However, exports to Mexico and LNG volumes will continue to grow.

U.S. petrochemical plants are strongly favored now due to rising NGL production from the shale plays—as well as discounted gas that can cheaply fuel the nation’s growing cracking capacity.

“U.S. petrochemical producers are sitting in the catbird seat” as a result, he said. NGL exports have been strong and will continue to grow, especially propane, Haas said.”

MSB 3-30-2017
Be sure to visit Hart Midstream Business

For more information on the recently announced cracker facility in Beaver County, be sure to jump over to the Pittsburgh Business Times special section “Countdown to Cracker.”

Be sure to follow Pittsburgh’s Matt Pitzarella on Twitter and LinkedIn.

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Pittsburgh Business Times: “Pitzarella joins Buchanan Ingersoll”

In a follow up to Paul Gough’s Pittsburgh Business Times piece last month “Pitzarella leaves Range Resources after 8 years” the paper’s Patty Tascarella followed up with “Pitzarella joins Buchanan Ingersoll.”

(for more news see “Great memories and relationships“)

As Tascarella’s story starts with:

“Buchanan Ingersoll & Rooney PC has hired one of the most visible players in southwest Pennsylvania’s energy sector. Matt Pitzarella joined Pittsburgh’s third-largest law firm as director of the Energy, Environment and Natural Resources Section.”

For the full story you really should check out the Business Times coverage or my initial thoughts on the decision “Pitzarella joins Buchanan, Ingersoll & Rooney.”

Influential Marcellus Shale writer Jim Willis posted to his site “Range Resources’ PR Chief Matt Pitzarella Jumps Ship to Law Firm.” If you’ve never visited his site Marcellus Drilling News be sure to check it out.

Be sure to follow Pittsburgh’s Matt Pitzarella on Twitter and LinkedIn.

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What saved most households $50 billion in the last four years?

Pocketbook issues are consistently ranked as among the most important topics for Americans. U.S. households who use natural gas to heat their homes, generate their power, cook their food, and heat their water collectively saved $50 billion over the last four years thanks to shale gas development from “fracking” around regions like Pittsburgh and elsewhere.

(for more on Pittsburgh check MatthewPitzarella.com articles)

That’s what American Gas Association President and CEO Dave McCurdy told Buchanan, Ingersoll & Rooney’s Principal – Government Relations Ed Hild during one of the law firm’s recent Energy Insider Interview Series interviews. 

The wholesale price of natural gas has remained incredibly affordable for households due to anabudance of clean burning natural gas, resulting in lower prices.

Make sure you head over to the firm’s site for the whole piece, but McCurdy took a deeper dive into what fracking for clean burning natural gas has meant for American consumers:

“Commercial customers have not seen natural gas prices this low in 40 years and natural gas access contributed to 1.9 million jobs economy-wide in 2015. Low natural gas prices put an extra $1,337 back in the pocket of the average American family that year because of the costs of goods coming from manufacturing plants that use natural gas. Everywhere you look, natural gas is having a positive impact on our nation and there is additional room for wise and efficient growth of natural gas in today’s domestic energy market, including significant potential for demand in residential, commercial, industrial and transportation sectors over the long-term. That includes exporting liquefied natural gas as well.”

Make sure you read the rest of the post and others from the series for in depth insights on energy trends and issues.

Be sure to follow Pittsburgh’s Matt Pitzarella on Twitter and LinkedIn.

 

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Are billions of dollars about to pour into Pennsylvania’s economy?

It seems everyone has shared, liked, posted, or read something about Team Pennsylvania’s report from IHS Markit “Prospects to Enhance Pennsylvania’s Opportunities in Petrochemical Manufacturing” but does it really mean there might be $3.7 billion in new potential investments thanks to Marcellus Shale “fracking” in Pennsylvania?

(for more see MatthewPitzarella.com “Pittsburgh region ‘tip of the ethane iceberg’“)

The experts point to yes. The report “forecasts $2.7 to 3.7 billion in investments in natural gas liquid (NGL) assets as well as the opportunity to attract additional cracker plants, and petrochemical and plastics manufacturing.”

(if you want to know what a “cracker plant” is hop over to the Continue reading “Are billions of dollars about to pour into Pennsylvania’s economy?”

Pittsburgh tops list of U.S. downtown “comebacks”

Readers of Realtor.com now know what the Pitzarella household has long maintained: downtown Pittsburgh has truly transformed itself. In fact the influential website listed Pittsburgh number one on their list of “Top 10 Cities Where Downtown Is Making a Comeback”

Make sure to check the post out for yourself right here, but the survey cites a 32% population growth with a 31% increase home price growth since 2012. Another recent report pointed to the boost in jobs thanks in part to natural gas from shale and “fracking” in the manufacturing field.

Further from the Realtor.com post:

In the downtown “Golden Triangle,” there are rooftop bars, hipsterfied eateries, and craft breweries. The renovated Market Square Place is buzzing day and night, and there’s even an influx of experimental public art. The latest installation: an “interactive jukebox” that played sound tracks while 6,000 LED lights flashed, making the square look like a giant spinning record in the sky. Cool, right?

As I recently shared, it’s a real joy to return to working in downtown Pittsburgh in my new position. And it appears that the timing couldn’t be better.

Be sure to follow Pittsburgh’s Matt Pitzarella on Twitter and LinkedIn.

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The Galapagos Islands of American dialect?

From the vaults, but still an interesting one on Pittsburgh dialect, from The New York Times Travel section, March 17, 2006 “It’s Not the Sights, It’s the Sounds”

Pittsburgh, which seems to be the Galapagos Islands of American dialect.

“Pittsburgh is a special case,” Professor Labov said. “Generally, local dialects have been absorbed by larger regional ones. But Pittsburgh, though part of the Midland, has retained its own speech patterns. In fact, Pittsburgh does things no place else does, like pronouncing ‘ow’ as ‘ah’ and very often dropping the ‘l’ when it comes at the end of a word.” (Radial, for example, winds up sounding like radio.)

Julie Schoonover, the barkeeper from Corning, had described the dialect of the Steel City (a k a Pixburgh) more succinctly: “If you want to hear some freaky talk, go to Pittsburgh,” she told me. “It’s all ‘yinz goin’ dahntahn’ down there.”

And later expanded on in The Pittsburgh Post-Gazette.

Be sure to follow Pittsburgh’s Matt Pitzarella on Twitter and LinkedIn

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Matt Pitzarella joins Buchanan, Ingersoll & Rooney

During my career I’ve been incredibly fortunate to work with some of the most dynamic and exciting organizations on a variety of issues – none more so than responsible energy development. So it’s with great privilege to join Buchanan, Ingersoll & Rooney PC as their Director – Energy, Environment and Natural Resources Section out of their Pittsburgh office.

I was immediately attracted to Buchanan’s historic past and valued reputation. Having worked as a consultant and for companies involved in pipelines, public utilities, power generation, and energy exploration and production I’ve long held the firm and their attorneys in incredibly high regard. It’s particularly exciting to now work alongside those dynamic men and women.

If you’ve not had the chance please check out knowingEnergyLaw, a Buchanan, Ingersoll & Rooney blog, Trending in Energy: Natural Gas for Current Legal, Political and Business Issues Shaping E&P, Midstream and Downstream Natural Gas Markets, and Trend in Energy: Renewables for Current Legal, Political and Business Issues Shaping Utility Scale Wind and Solar Energy Development.

Be sure to follow Pittsburgh’s Matt Pitzarella on Twitter and LinkedIn

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