America

North America’s natural gas prices, now at their lowest level in 10 years, may not be helping explorers but positive impacts are being felt across a variety of industries inside and outside the energy sector, according to an analysis by Moody’s Investors Service.

Foreign buyers have been gaining intelligence about drilling in North America’s prolific unconventional formations through joint ventures (JV) and region-specific acquisitions with willing U.S. natural gas and producers, but that’s about to change, according to an energy expert with industry consultant PwC US.

Producing natural gas in North America today isn’t a particularly lucrative venture, but for proponents of exporting liquefied natural gas (LNG), particularly from Western Canada, the times couldn’t be better.

Producing natural gas in North America today isn’t a particularly lucrative venture, but for proponents of exporting liquefied natural gas (LNG), particularly from Western Canada, the times couldn’t be better.

Foreign buyers up to now have been gaining intelligence about drilling in North America’s prolific unconventional formations through joint ventures (JV) and region-specific acquisitions with willing U.S. natural gas and producers, but that’s about to change, according to an energy expert with industry consultant PwC US.

GeoSouthern Energy Corp. will use the proceeds from a $1 billion credit facility that closed Thursday to continue the development of its 173,000 gross acre position in the condensate and oil windows of the Eagle Ford Shale in South Texas, the privately held independent exploration and production company said.

Demand for drilling equipment in North America’s onshore continues to be strong, with the backlog of capital equipment orders in rig technology doubling in the final quarter of 2011 from a year ago, National Oilwell Varco Inc. (NOV) reported Thursday.

Demand for drilling equipment in North America’s onshore continues to be strong, with the backlog of capital equipment orders in rig technology in the final three months of 2011 double year-ago levels, National Oilwell Varco Inc. (NOV) reported Thursday.

Seal Beach, CA-based Clean Energy Fuels Corp. has identified 32 more locations in 22 states for its “America’s Natural Gas Highway” series of liquefied natural gas (LNG) long-haul truck fueling stations (see Daily GPI, Jan. 17). The locations range from Arkansas to Wisconsin, and Florida to Washington state. Clean Energy now has specified 98 locations in 37 states. The company raised $450 million last year to help fund its development of a national LNG/CNG transportation fueling network (see Daily GPI, Aug. 29, 2011).