American Oil and Gas Reporter - January 2017 - 118
ConventionSection: Independent Oil & Gas Association of West Virginia
Pipeline Improvements
Help West Virginia
By Dan Holder
CHARLESTON, W.V.-Global commodity prices are showing signs of revival
after several low years, but inadequate
transportation options continue to create
significant basis differentials for Appalachian Basin natural gas producers.
Charlie Burd, executive director of
the Independent Oil and Gas Association
of West Virginia, predicts that several
pipeline and facility projects either now
under way or under consideration may
help cut that deficit.
Speaking in advance of IOGAWV's
winter meeting, scheduled for Feb. 1415 at the Marriott Town Center Hotel in
Charleston, he says that although it varies
according to which gathering system is
transporting their gas, producers can see
quite a substantial negative basis differential.
"If you use a New York Mercantile
Exchange price of $3.50 an Mcf as an illustration, then you subtract a $1.50 basis
differential for a given month, and the
producer starts at $2.00," he describes.
"To use a gathering system costs another
$0.70 an Mcf. All of a sudden, you are at
$1.30. And then you face other fees.
Most operators are working for less than
$1.00 an Mcf; some way less."
That differential continues to hurt West
Virginia gas producers, assesses IOGAWV
President J. Scott Freshwater, vice president
of Reserve Oil & Gas Inc., in Spencer,
W.V. "West Virginia is mostly a gas-producing state. The Appalachian Basin is so
oversupplied and some markets are so discounted to Henry Hub that operators are
not seeing an improvement yet. Any pipeline
projects that get natural gas out of West
Virginia and the Northeast are good for
addressing the oversupply," he says.
In addition to the physical benefits of
additional infrastructure, Burd opines that
a new political climate in Washington
also could benefit oil and gas operators.
"There is some reason for optimism
in our country's manufacturing sector,"
he says. "I expect to see increased gas
use in the industrial sector, and certainly
we have seen increased gas usage in the
power production sector. If you couple
power production and industrial development, as well as a change of administration in Washington, we are optimistic
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118 THE AMERICAN OIL & GAS REPORTER
American Oil and Gas Reporter - January 2017
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