Another study is under way to look at hydraulic fracturing (fracking) and increased seismic activity in an urban oilfield sitting in a hilly southwest residential portion of Los Angeles. The producer in the crosshairs of skeptics, Plains Exploration and Production Co. (PXP), is undaunted in its efforts to try to make increased drilling activity in a mostly residential area work, according to local news reports.
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Eastern, Midwest Points Steady To Lower; Futures Slip
The cash market on average was unchanged Wednesday as weather forecasts for major metropolitan areas showed little in the way of near-term heat, although warmth was forecast for the Midwest and Ohio Valley into the Father’s Day weekend. Physical prices were within a few pennies of unchanged at most points and at the close of futures trading July had eased 4.7 cents to $2.185 and August had slipped 5.1 cents to $2.236. July crude oil shed 70 cents to $82.62/bbl.
June 14, 2012
Cash Quotes Mostly Drift Lower, But Exuberant Futures Bounce Back
The cash market overall was lower on average by a couple of pennies Tuesday with most market areas showing quotes on either side of unchanged. California points weakened as a customer imbalance was redressed. Eastern points were mostly unchanged, and Gulf points eased. At the close of futures trading June had risen 9.8 cents to $2.707 and July had gained 8.7 cents to $2.776. June crude oil fell 91 cents to $91.66/bbl.
May 23, 2012
Marcellus Producers Slowly Shifting Focus to Wet Gas Counties
Marcellus Shale natural gas production leaped to nearly 4 Bcf/d in just three years, and even though it remains the most economical gas play in Lower 48 states, producers already are moving rigs to more liquids-prone targets, according to Barclays Capital energy analysts.
May 10, 2012
Report Sees Hurdles Ahead for Pennsylvania NGVs, Despite Strength of Marcellus
Even with the huge Marcellus Shale, the high cost of natural gas vehicles and a lack of infrastructure to fuel the vehicles may deter growth in the state, according to the Allegheny Conference on Community Development.
May 10, 2012
MarkWest Buys Appalachian System, Pledges to Expand
MarkWest Energy Partners LP is building out its services for Appalachian rich-gas producers with the $512 million acquisition of Pennsylvania-based Keystone Midstream Services LLC.
May 9, 2012
MarkWest Expanding Marcellus Midstream Capacity
MarkWest Energy Partners LP has launched midstream expansions for gathering facilities in two areas of West Virginia and in southwestern Pennsylvania to support growing natural gas production for affiliates of Chesapeake Energy Corp. and Antero Resources Corp.
May 7, 2012
BP Expanding in GOM Deepwater
As the supermajor gets back to business in the Gulf of Mexico (GOM) deepwater, one of its core areas, BP plc executives are hopeful that they can complete “in a few days” the $7.8 billion settlement tentatively reached last month with thousands of individuals and businesses that were impacted by the April 2010 Macondo well blowout, Chairman Carl-Henric Svanberg said Thursday at the company’s annual meeting.
April 16, 2012
Penn Virginia Buying Chief’s Marcellus Gathering Unit for $1B
Penn Virginia Resource Partners LP (PVR) is buying Chief Gathering LLC for $1 billion. Chief Gathering serves northeastern Pennsylvania Marcellus Shale producers and is a sister company to producer Chief Oil & Gas LLC.
April 11, 2012
Review Finds ‘Well Managed’ Arkansas Fracking Regulation
State regulation of hydraulic fracturing (fracking) practices in Arkansas is “well managed and professional” but has room for improvement in a few areas, a recent review found.
March 12, 2012
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