Midwest Points Post Nominal Declines As Northeast Plunges; Futures Soften

Physical prices for the long weekend and Monday tumbled in Thursday trading as buyers were reluctant to make purchases ahead of anticipated reduced industrial load. Midwest points showed relative strength, but Northeast locations recorded healthy drops as weather conditions were expected to remain at seasonal levels.

April 9, 2012

Multi-Commodity Rail Line Planned for Permian Basin

Kinder Morgan Energy Partners LP (KMP) and Martin Midstream Partners LP have formed joint venture (JV) Pecos Valley Producer Services LLC to develop a multi-commodity rail terminal in Pecos, TX, to serve oil and gas producers in the Permian Basin of West Texas.

February 28, 2012

CFTC Strikes Contentious Swap Dealer Rule from Agenda

The Commodity Futures Trading Commission (CFTC) has struck from its meeting agenda Thursday a much-anticipated and widely criticized final rule to define “swap dealers” and “major swap participants.” The rule is one of the most contentious before the Commission and would lay the groundwork for the agency to proceed with other regulatory reforms under the Dodd-Frank Wall Street Reform Act.

February 22, 2012

Pennsylvania Impact Fee Awaits Governor’s Signature

After more than three years of wrangling, Pennsylvania lawmakers have passed an impact fee on unconventional gas drilling, but as the bill awaits an anticipated signature from Gov. Tom Corbett, it is garnering plenty of disdain from detractors and backhanded compliments from supporters.

February 13, 2012

Transportation Notes

Ruby Pipeline said Thursday night that based on its best available information, the return to service on its system is anticipated to occur during the gas day of Sunday (Dec. 18). The restoration plan includes ramping up operationally available capacity over the course of about three days to allow Ruby to restore the linepack necessary to schedule and deliver service at firm contracted capacity, the pipeline said. The plan had three phases: 1) Ruby would accept nominations for Sunday during the Intraday 2 nomination cycle (Cycle 4) with an estimated operationally available capacity of 330 MMcf/d; 2) Ruby would accept nominations for Monday, starting with the Evening nomination cycle (Cycle 2) with an estimated operationally available capacity of 660 MMcf/d; and 3) for Tuesday’s gas day, Ruby anticipates being able to schedule firm contracted capacity, but it depends on acceptable linepack restoration.

December 19, 2011

Still More Downside, Figures Show; December Slides

December futures continued their relentless retreat Wednesday as traders calculated that spot futures may have almost 18 cents more room to the downside and weather forecasts moderated again. At the close December had dropped 6.0 cents to $3.344 and January had shed 5.9 cents to $3.483. December crude oil vaulted $3.22 to $102.59/bbl.

November 17, 2011

Delaware Governor’s Position Could Decide DRBC Vote

Environmentalists say Delaware Gov. Jack Markell will be in a key position to oppose hydraulic fracturing (fracking) when the Delaware River Basin Commission (DRBC) meets on Monday, but they admit they are unsure of where he stands on Marcellus Shale development within the basin.

November 17, 2011

DRBC to Consider Revised Gas Drilling Rules Later this Month

The Delaware River Basin Commission (DRBC) later this month plans to consider adopting water quality regulations that would apply to all natural gas development projects in the basin, including the construction and operation of all gas wells, regardless of the target geologic formation, whether a well is for production or exploration, or whether high-volume or low-volume hydraulic fracturing (fracking) is being considered.

November 9, 2011

Post-Gulf Blowout, Anadarko Touts U.S. Shales, African LNG

Saying it has put last year’s Gulf of Mexico (GOM) deepwater well blowout with BP plc behind them, Anadarko Petroleum Corp. senior officials Tuesday tried to look past third quarter red ink to what they consider hot domestic shale and African liquefied natural gas (LNG) prospects.

November 3, 2011

Triple-Digit Storage Builds Seen; November Continues Slide

November natural gas posted a new low Wednesday as traders could find no arguments in favor of higher prices and anticipated a government storage report expected to increase the long-term surplus and narrow considerably the deficit to last year’s record storage levels. At the close November had fallen 6.8 cents to $3.570 and December had given up 6.0 cents to $3.884. November crude oil bounded higher by $4.01 to $79.68/bbl.

October 6, 2011