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PG&E Facing More San Bruno Scrutiny

Resolution of proposed penalties of up to $2.25 billion for San Francisco-based Pacific Gas and Electric Co. (PG&E) may not come this year after a state regulatory administrative law judge (ALJ) asked for additional data on how any eventual penalties might affect finances. In addition, the specter of a criminal case has emerged.

August 5, 2013

Halcon to Spend ‘Significant Time’ in Utica

Halcon Resources Corp. said an exploratory well targeting the Utica Shale has been producing more than 2,000 boe/d. The company said it plans to spend “significant time” in the play, where it has the acreage to drill up to 500 gross wells.

August 5, 2013

Capacity Market Still Challenging Boardwalk

Capacity recontracting continued to weigh on Boardwalk Pipeline Partners LP revenues during the second quarter, but “every year, we seem to work out a little bit more of the problem,” CEO Stan Horton told analysts during an earnings conference call.

August 5, 2013

Capacity Constraints in Marcellus Restrict Transco

Williams on Thursday restricted some natural gas pipeline services on its mainstay Transcontinental Gas Pipe Line LLC (aka Transco) because of capacity constraints in the Pennsylvania portion of the Marcellus Shale.

August 5, 2013

Antero NatGas Output Gaining; Comstock Sees Oil Rising

Two big U.S. independents took too different paths in the second quarter, one showing solid natural gas gains — mostly in the Marcellus Shale — while the other saw climbing oil and liquids output from from its onshore plays, and in particular, the Eagle Ford Shale.

August 5, 2013
National Oilwell Varco Sees Record Backlog

National Oilwell Varco Sees Record Backlog

Backlog for capital equipment orders in National Oilwell Varco’s (NOV) rig technology segment was $13.95 billion at the end of 2Q2013, a record high, 8% higher than at the end of 1Q2013 and 24% higher than at the end of 2Q2012, the company said.

August 5, 2013
Heavy Metals Found Near Barnett NatGas Sites

Heavy Metals Found Near Barnett NatGas Sites

A study of Barnett Shale region water wells has found elevated levels of heavy metals near natural gas extraction sites, but a link to drilling/production activity has not been determined and may not be, researchers from the University of Texas at Arlington (UTA) said.

August 5, 2013

JPMorgan Penalized for Gaming Power Markets

FERC last Tuesday approved a stipulation and consent agreement ordering JP Morgan Ventures Energy Corp. (JPMVEC) to pay $410 million in penalties and disgorge profits for allegedly manipulating power markets in California and the Midwest.

August 5, 2013

Massachusetts NatGas Leaks Said to Cost $1.5B Over 10 Years

In a litmus test on the costs to utility consumers for natural gas lost through leaky distribution pipeline systems and other sources, Massachusetts consumers paid as much as $1.5 billion more in the last decade just for the leaks, a congressional study has found.

August 5, 2013

Centrica Unit to Pay $1.03B for Hess Energy Marketing Business

Centrica plc North American subsidiary Direct Energy Business has agreed to acquire Hess’s New Jersey-based energy marketing business for $731 million in cash and approximately $300 million in net working capital, the UK utility said Tuesday.

August 5, 2013