Accounts

North American Unconventionals Shifting Global Energy Trade, Says IEA

North American Unconventionals Shifting Global Energy Trade, Says IEA

The United States will become the top producer of oil globally within five years, a net exporter of natural gas by 2020 and an oil exporter by close to 2030, all thanks to its massive unconventional resources, the International Energy Agency (IEA) said Monday in its annual flagship publication, the World Energy Outlook (WEO).

November 13, 2012

Pennsylvania PUC Delays Implementation of Impact Fee

The Pennsylvania Public Utility Commission (PUC) has delayed implementation of Act 13, the state’s omnibus Marcellus Shale law, “due to an ambiguity with an injunction imposed by the state’s Commonwealth Court,” the PUC said late Thursday.

April 30, 2012

More Fund Selling Still In the Mix; October Weakens

October natural gas retreated Tuesday as not all traders are on board with historical seasonal weakness leading to higher prices and the funds and managed accounts being unwilling to push the market lower from present price levels. October lost 3.1 cents to $3.798 and November shed 4.7 cents to $3.885. October crude oil rose $1.19 to $86.89/bbl.

September 21, 2011

Eagle Ford Task Force Formed by Texas Regulator

Texas Railroad Commissioner David Porter has assembled an Eagle Ford Task Force charged with establishing best practices for development of the South Texas play based on input from across the industry and affected communities.

July 29, 2011

People

Linda Lay, the widow of Enron Corp. founder Kenneth Lay, who died in 2006, has agreed to split two annuity accounts with Enron Creditors Recovery Corp. (ECRC) to settle all remaining litigation between Enron and the Lays. The Lays were sued by ECRC over allegedly fraudulent transfers that preceded Enron’s bankruptcy in late 2001. According to the lawsuit, Enron loaned Kenneth Lay money that he repaid with company stock; Enron also agreed to buy some of the Lays’ annuities for $10 million, which today are considered worthless. The settlement, which was completed through mediation, was “fair,” said ECRC, because Kenneth Lay’s estate is insolvent and Linda Lay has “extremely limited” assets. The settlement, which requires court approval, is to be heard July 7 before U.S. Bankruptcy Judge Arthur Gonzalez in New York City (The Official Committee of Unsecured Creditors of Enron Corp et al v. Lay et al, U.S. Bankruptcy Court, Southern District of New York, No. 03-ap-02075).

June 21, 2011

June Settles Lower, Yet Fund Longs Lining Up

June natural gas futures eased, although a major contingent — funds and managed accounts — now appears to be aligned on the long side of the market and technical support remains intact. At the close June futures had fallen 2.3 cents to $4.670 and July was lower by 2.5 cents to $4.738. June crude oil cascaded lower giving up $2.47 to $111.05/bbl.

May 4, 2011

ICF Official: Shale Accounts for Half of U.S. Rig Activity

Shale development currently accounts for about half of the total rigs targeting natural gas development in the United States, a top executive with ICF International said.

March 2, 2011

$4 Support Ready to Fall; March Continues to Erode

Futures continued to work lower Tuesday as weather forecasts softened and funds and managed accounts squared their books. Traders see a fall below $4 as virtually inevitable and expect continued weakness. At the close March futures fell 6.4 cents to $4.040 and April dropped 6.8 cents to $4.072. March crude oil shed 54 cents to $86.94/bbl.

February 9, 2011

Alberta Finances Ride A Royalty Rollercoaster

Canada’s chief natural gas producing jurisdiction is being pinched by soft prices, Alberta Finance Minister Ted Morton has confirmed. New government accounts, described by critics as highlighting “madness” of relying on resource income, show that gas has fallen to fourth place among provincial revenue sources from its previous stellar role as the reliable No. 1.

August 30, 2010

Alberta Finances Ride A Royalty Rollercoaster

Canada’s chief natural gas producing jurisdiction is being pinched by soft prices, Alberta Finance Minister Ted Morton has confirmed. New government accounts, described by critics as highlighting “madness” of relying on resource income, show that gas has fallen to fourth place among provincial revenue sources from its previous stellar role as the reliable No. 1.

August 27, 2010
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