American

To ensure compliance with Commodity Futures Trading Commission (CFTC) regulations, the American Gas Association (AGA) has asked the agency to clarify the extent to which non-financial contracts for the physical delivery of natural gas are within the scope of the Dodd-Frank Wall Street Reform Act’s regulation of “swaps.”

North American energy self-suffiency “is within reach,” but an energy strategy that capitalizes on U.S. advantages must be implemented, Business Roundtable (BRT), a group of CEOs of U.S. companies, said Monday.

Columbus, OH-based American Electric Power (AEP) on Monday agreed to close or refuel units at three Midwest coal-fired electric generation plants and fill at least part of the lost capacity with renewable-based power supplies. Environmental groups hailed the move as a “victory for clean air.”

Enbridge Inc. and Energy Transfer are planning to develop a pipeline to carry crude oil from Western Canada and the Bakken Shale, by way of the Patoka, IL, hub to the eastern Gulf Coast in a project that would convert portions of the Trunkline Gas Co. LLC natural gas system to oil service.

Natural gas drilling continued to decline in 4Q2012, despite an uptick in exploratory gas drilling for the period, the American Petroleum Institute (API) said. “In the year-to-date comparison, gas well completions have decreased 26%” to 9,752 wells in 2012 from 13,128 wells in 2011, said API, which represents major oil and gas producers. At the same time, oil drilling rose in the period, with exploratory and development wells up 15% and 16% respectively from year-ago figures. “The oil and natural gas industry expanded oil drilling in 2012, thanks in large part to access on private and state lands,” said API statistics director Hazem Arafa. A year-to-date comparison of oil wells drilled yields a 25% increase in total well completions between 2011 and 2012 (26,213 to 32,652).

Natural gas drilling continued to decline in the fourth quarter, despite an uptick in exploratory gas drilling for the period, the American Petroleum Institute (API) said in a report on well completions for the quarter.

Natural gas drilling continued to decline in the fourth quarter, despite an uptick in exploratory drilling, the American Petroleum Institute (API) said in a report on well completions. “In the year-to-date comparison, gas well completions have decreased 26%” to 9,752 wells in 2012 from 13,128 wells in 2011. At the same time, oil well drilling rose, with exploratory and development wells showing a 15% and 16% increase respectively from 4Q2011 numbers. “The oil and natural gas industry expanded oil drilling in 2012, thanks in large part to access on private and state lands,” said API Statistics Director Hazem Arafa. A year-to-date comparison of oil wells drilled yields a 25% increase in total well completions between 2011 and 2012 (26,213 to 32,652).

Forecasting a decline in production setting in during 2013, Credit Suisse’s head of energy commodities research believes North American natural gas prices are due for a rebound from 2012 levels.

Forecasting a decline in production setting in during 2013, Credit Suisse’s head of energy commodities research believes North American natural gas prices are due for a rebound from 2012 levels.