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Feds: Oil/Gas Production Strong, Permian a ‘Bright Spot’ for Oil

In the latest issue of its Beige Book, the Federal Reserve Board (FRB) said energy demand and production remained strong across the country, with natural gas production on the rise in three of its 12 districts, onshore and offshore oil drilling up in another three, and the Permian Basin a “bright spot” for oil production growth in 2014.

January 17, 2014

Kinder Morgan’s 4Q: More Backlog, But More NatGas Pipeline Earnings

Kinder Morgan Inc. (KMI) and its master limited partnerships added to their backlog of capital projects in 4Q2013 and also made in-roads along several fronts — especially in the Marcellus, Utica and Eagle Ford shales — while the natural gas segment drew impressive earnings for the quarter.

January 16, 2014
Cimarex Spending $1.8B on Capex, Focusing on Wolfcamp in 2014

Cimarex Spending $1.8B on Capex, Focusing on Wolfcamp in 2014

Cimarex Energy Co. plans to grow production this year to an average 760-800 MMcfe/d, spending most of the $1.8 billion earmarked for capital expenditures (capex) in the Delaware Basin, a subbasin of the Permian Basin, and opportunities in the Wolfcamp Shale.

January 15, 2014

Chamber of Commerce to Feds: Open More Lands to Drilling, Back Off Frack Rules

The U.S. Chamber of Commerce said Wednesday the federal government should create an offshore leasing and exploration program, open more of the land it owns onshore to oil and natural gas drilling, and refrain from finalizing proposed rules for hydraulic fracturing (fracking) on federal land.

January 15, 2014

Outgoing Heinz Endowments President to Chair Rice Energy

In a move that may raise environmentalists’ criticism of the Heinz Endowments, Robert Vagt, the outgoing president of the Pittsburgh-based philanthropic organization, will step down next week to become chairman of Rice Energy Inc., an independent operator focused exclusively on the Appalachian Basin.

January 15, 2014

Industry Brief

FERCissued three delegated orders Wednesday that will allowIroquois Gas Transmission System LP to amend existing negotiated rate agreements with two customers for a few natural gas delivery days in December. Among 15 delegated orders issued, the Federal Energy Regulatory Commission waived the 30-day notice requirement for revised tariff records with Trafigura AG (Docket No. RP14-291) and J.P. Morgan Ventures Energy Corp. (Nos. RP14-292 and RP14-293). According to FERC, a Trafigura contract set revised rates for service under Iroquois’ interruptible rate schedule HUB, while a separate contract did the same with J.P. Morgan. The revised tariff records covered Dec. 13-16 for Trafigura, and Dec. 14-16 for J.P. Morgan. The orders were issued by FERC’s Nils Nichols, director of Division of Pipeline Regulation.

January 15, 2014
Potter County, PA, Wants Better Notification for Water Suppliers

Potter County, PA, Wants Better Notification for Water Suppliers

Officials in Potter County, PA, want the Pennsylvania Department of Environmental Protection (DEP) to require that public water suppliers are notified when a permit is issued for oil and gas drilling in delineated water supply recharge areas.

January 14, 2014

Ohio City Considering Leasing Property for Gas Drilling

An Ohio company has approached the City of Marietta, OH, to see if the municipality is interested in leasing 35 city-owned acres for oil and gas drilling targeting the Marcellus and Utica shales.

January 14, 2014

After Derailments, Canada Proposes Tougher Tank Car Regulations

In the wake of two derailments involving tank cars loaded with crude oil, and concern over an expected increase in crude oil shipments by rail, Canadian regulators have proposed tougher construction standards for tank cars and additional certifications.

January 14, 2014

New Jersey Pinelands Commission Rejects Natural Gas Pipeline

The New Jersey Pinelands Commission on Friday rejected a proposal by South Jersey Gas Co. to build part of a $90 million natural gas pipeline through the Pinelands National Reserve, despite support for the project by Gov. Chris Christie, the state Department of Environmental Protection, the New Jersey Board of Public Utilities (BPU) and the U.S. Army Corps of Engineers.

January 13, 2014