Nexen Inc., whose portfolio is spread across North America and overseas, on Tuesday laid out its 2012 strategy, which includes new drilling in the Gulf of Mexico (GOM) and taking as a partner Japan’s largest exploration and production (E&P) company to ramp up unconventional natural gas development in northeastern British Columbia (BC).
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INGAA: Pipe Safety Unaffected by Fed Cutbacks
With across-the-board federal budget cuts looming in the wake of the congressional super committee’s meltdown, the current spate of natural gas pipeline safety initiatives is unlikely to be harmed, according to a Washington, DC-based spokesperson for the Interstate Natural Gas Association of America (INGAA).
Transportation Notes
NGPL advised shippers of a potential OFO “for oversupply or undertake activities across its entire system due to the lack of significant market load.” Shippers can mitigate the need for an OFO by ensuring that imbalances are not in a long position and that point operators are flowing as nominated the pipeline added. It said that if it is determined that the OFO is required, “any gas left on the pipeline is at risk of OFO penalties.” See the bulletin board for details.
Pipe Safety Unaffected by Federal Budget Cuts, INGAA Says
With across-the-board federal budget cuts looming in the wake of the congressional super committee’s meltdown, the current spate of natural gas pipeline safety initiatives is unlikely to be harmed, according to a Washington, DC-based spokesperson for the Interstate Natural Gas Association of America (INGAA).
ExxonMobil Increases Utica Footprint, Pursues More Liquids Output
Supermajor ExxonMobil Corp., which controls a huge portfolio of unconventional oil, gas and liquids projects across North America, on Thursday disclosed that it has increased its leasehold in the Ohio portion of the promising Utica Shale.
Forecaster Expects Six More Named Storms in Atlantic
The near-record pace of the 2011 Atlantic hurricane season already has the 15th named storm of the year charging across the Atlantic Ocean, and another six named storms are likely to form before the season’s official end on Nov. 30, according to forecasters at Andover, MA-based WSI. Corp.
Pennsylvania Marcellus Permits Pass 2000 Mark
The Pennsylvania Department of Environmental Protection (DEP) issued 277 permits for Marcellus Shale drilling and operators reported drilling 226 wells into the play in August, according to recently released figures.
Market Mixed; $4 Price Point Dissected
Following three straight days during which cash prices nudged higher almost across the board, natural gas traded Thursday for Friday delivery was a mixed bag of minor pluses, minuses and a fair amount of points that went unchanged. Almost all of the additions or subtractions were by less than a nickel, potentially signaling just how content the market is with the current price point.
Cash Averages Continue Climb Despite Weak Fundamentals
Bolstered by Tuesday’s 9.5-cent gain in October futures, cash market averages across most of the country remained in the plus column for the third straight day Wednesday with a vast majority of points adding less than a dime. The recent stretch of price strength has market watchers scratching their heads for answers.
Colorado Energy Industry Volunteers to Collect Groundwater Data
A voluntary first-of-its-kind groundwater sampling program was launched this month by Colorado’s energy industry to “proactively” address concerns associated with drilling and hydraulic fracturing.