As a bill to ban actively engaged oil and natural gas representatives from serving on the Colorado Oil and Gas Conservation Commission (COGCC) neared a final vote in the state senate Monday or Tuesday, a coalition of business and citizens groups commended the more than 120 local elected officials who have publicly supported the governor’s pursuit of reasonable oil and gas solutions.
Articles from Actively
Spots cash prices played catch-up with the screen in Friday’s trading. The average overall loss was 34 cents, and all actively traded points endured declines in the 30-cent area. Traders see the highs for the year in place and see mounting fundamental pressure on prices in the spring and summer. At the close of futures trading, June had risen 1.6 cents to $4.041 and July also had gained 1.6 cents to $4.093. June crude oil, aided by a supportive employment report, gained $1.62 to $95.61/bbl.
All actively traded cash points recorded losses on gas for weekend and Monday delivery in Friday’s trading. The physical market on average fell 13 cents with Northeast points enduring the greatest declines. Eastern and Gulf points were weak as well. At the close of futures trading October had shed 9.4 cents to $2.943 and November had dropped 8.1 cents to $3.083. October crude oil added 69 cents to $99.00/bbl.
An updated biannual report posted by the Pennsylvania Department of Environmental Protection (DEP) shows that the state’s natural gas production saw a more than 40% increase in the first half of 2012 compared to the second half of 2011, and more than doubled in a year.
North Dakota oil and natural gas production maintained its record pace through the end of May, according to the latest statistics from state Department of Mineral Resources Director Lynn Helms. Oil and gas production both hit all-time highs again in May.
Low natural gas prices have stifled activity in the dry window of the Eagle Ford Shale in South Texas, but the play’s natural gas liquids (NGL) and crude windows “are hotbeds of activity,” according to veteran industry observer Rusty Braziel, now principal of RBN Energy.
As the clock was winding down for counties to sign on to the Pennsylvania Marcellus Shale impact fee, also known as Act 13, a Commonwealth Court judge pushed back the start date for portions of the law to give local governments more time to adopt its standardized zoning measures.