The rally that started the week in most of the cash market proved to be short-lived Tuesday. Although there was still a fair amount of heating load in some northern market areas, modest warming trends and the previous day’s small futures decline caused prices to fall everywhere except for a flat Florida Gas Zone 2.
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Price Advance Continues, But at Slower Pace
Southern lows predicted to drop to the 50 area east of the Mississippi River were contributing a small amount of heating load to the much bigger demand in Canada and from the U.S. Northeast through the Midwest into the Upper Plains. The entire cash market continued to move higher Thursday except for a flat Agua Dulce, but significantly smaller increases than the day before signaled that the week’s bullishness might be running out of steam.
Western Canadian Drilling Up on Oil Shale Activity
The persistently sharp contrast between expensive oil and cheap gas has had dramatic effects on Western Canadian drilling, boosting activity and accelerating a trend to targeting oil rather than gas.
Delaware Commission Moves to Allow Marcellus Gas Development
The Delaware River Basin Commission (DRBC) on Thursday proposed rules that would allow natural gas development projects — with conditions — in affected areas of the Marcellus Shale.
Pennsylvania Law to Ease Tax Burden on Farmland Energy Generation
Pennsylvania Gov. Ed Rendell signed into law Wednesday legislation reducing the amount of roll-back tax that owners of farmland must pay when leasing land and mineral rights for natural gas development.
Don’t Eschew Deepwater, Says Shell CEO
Producers worldwide will continue to pursue deepwater drilling for natural gas and oil because the world will need a huge amount of fossil fuels for decades to come, Royal Dutch Shell plc CEO Peter Voser said last month in Cape Town, South Africa.
Deepwater Drilling Necessary, Says Shell CEO
Producers worldwide will continue to pursue deepwater drilling for natural gas and oil because the world will need a huge amount of fossil fuels for decades to come, Royal Dutch Shell plc CEO Peter Voser said Sunday in Cape Town, South Africa.
Correction
Due to a resubmission of data, the amount of natural gas marketed by RBS Sempra reported in NGI’s 1Q2010 Top North American Gas Marketers Ranking (see NGI, June 14) has been increased to 9.50 Bcf/d from the previously reported 6.40 Bcf/d. As a result, the total gas volume marketed by the 26 companies participating in the survey has been corrected to 147.69 Bcf/d from the previously reported 144.59 Bcf/d.
Correction
Due to a resubmission of data, the amount of natural gas marketed by RBS Sempra reported in NGI’s 1Q2010 Top North American Gas Marketers Ranking (see Daily GPI, June 10) has been increased to 9.50 Bcf/d from the previously reported 6.40 Bcf/d. As a result, RBS Sempra moves into fifth place in the survey and the total gas volume marketed by the 26 participating companies has been revised to 147.69 Bcf/d from the previously reported 144.59 Bcf/d.
Pennsylvania IRRC Approves Tougher Wastewater Rules
Pennsylvania’s Independent Regulator Review Commission (IRRC) on Thursday approved regulations that would significantly lower the amount of total dissolved solids (TDS) permitted in wastewater discharges from drilling operations in the state’s prolific Marcellus Shale area.