After

Natural Gas Said Critical to Reducing GHG Emissions

After an eight-year downward trend, carbon dioxide (CO2) emissions in the United States have started to includes with the return of more coal-fired generation in 2013, compared to last year, the Environmental Integrity Project (EIP) said in an analysis. However, a separate report said greenhouse gas (GHG) emissions are at mid-1990s levels and the role of natural gas remains critical.

June 10, 2013

GHG Emissions, Coal-Use Up; NatGas Critical, Reports Show

After an eight-year downward trend, carbon dioxide (CO2) emissions in the United States have started to climb back up with the return of more coal-fired generation in 2013, compared to last year, the Environmental Integrity Project (EIP) said in an analysis of federal energy and emissions statistics released in late May. However, a separate report released this week said greenhouse gas (GHG) emissions are at mid-1990s levels and natural gas’ role needs to be maximized to further lower carbon emissions.

June 5, 2013

Industry Briefs

Gulf of Mexico explorer McMoRan Exploration Co. (MMR) is no longer a publicly traded stock after shareholders on Monday (June 3) approved a merger with a subsidiary of affiliated conglomerate Freeport-McMoRan Copper & Gold Inc. Under a friendly agreement in late 2012, Freeport agreed to pay close to $3 billion for MMR and more than $9 billion including debt for Plains Exploration & Production Co.; the Plains deal closed at the end of May (see Daily GPI, June 3; Dec. 6, 2012). Freeport Chairman Jim Bob Moffatt co-chaired McMoRan with Freeport CEO Richard Adkerson. MMR shareholders are to receive $14.75/share in cash, or $2.2 billion for shares not owned by Freeport, as well as 1.15 units in Gulf Coast Ultra Deep Royalty Trust, which would hold a 5% overriding royalty stake in future output from 20 specified ultra-deep exploration targets.

June 4, 2013

Carbon Dioxide Emissions Up More Than 7% For Power Generation

The nonprofit Environmental Integrity Project (EIP) said that after an eight-year decline, carbon dioxide (CO2) emissions from power plants jumped 7.1% in 1Q2013, due in part to rising natural gas prices and the lure of cheap coal.

May 28, 2013

New York Landowners Sue Norse Over Expired Leases

A group of about 89 landowners in western New York state filed a lawsuit in a U.S. bankruptcy court against Norse Energy Corp. USA on Friday after the company declared a force majeure and extended its oil and gas leases.

May 22, 2013

Alaska ‘Steps Up’ to Assess ANWR Energy Resource

Ten days after President Obama signed the “National Strategy for the Arctic Region,” the state of Alaska announced a plan to assess oil and natural gas resources in the Arctic National Wildlife Refuge (ANWR) 1002 Area.

May 21, 2013

Stalled EPA Nomination Heads to Senate Floor for Vote

After Republicans ended their week-long boycott, the Senate Environment and Public Works Committee voted out the nomination of Gina McCarthy to head the Environmental Protection Agency (EPA).

May 17, 2013

SGICC Crowns Three Winners in Shale Gas Innovation Contest

After choosing 12 finalists from more than 70 applicants, Ben Franklin Technology Partners’ Shale Gas Innovation and Commercialization Center (SGICC) on Tuesday selected the three winners of its 2013 Shale Gas Innovation contest aimed at recognizing and promoting small- and mid-sized businesses behind emerging technologies in the Appalachian region’s growing natural gas industry.

May 9, 2013

EOG’s Papa Sees Bakken Growth Rate Slowing, Eagle Ford Surging Ahead

Shares of EOG Resources Inc. rose sharply on Tuesday after the company reported a nearly 53% increase in net income for the first quarter of 2013, gains due in large part to hefty growth in crude oil production from the Eagle Ford Shale.

May 8, 2013

CME Working to Fix High-Speed Trading ‘Latency’ Issues

CME Group went on the defensive last Wednesday after The Wall Street Journal (WSJ) in a front-page expose said high-speed traders using powerful computers are trying to profit from being able to see their futures market orders executed milliseconds before the rest of the market is able to see them.

May 6, 2013