U.S. oil and gas merger and acquisition (M&A) activity will be stronger this year as companies attempt to position themselves for higher prices and increased demand, according to a nationwide survey of CFOs at 100 exploration and production companies.
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North Dakota Fertilizer Plant Proposal May Use Flared Gas
In an attempt to leverage the state’s two biggest industries, North Dakota is considering construction of a world-scale, $1.5 billion nitrogen fertilizer plant. The plant could make use of some of the state’s natural gas now being flared in the face of low prices to fuel the facility, while the North Dakota Corn Growers Association (CGA) would use the plant to make anhydrous ammonia.
Voting Error Helps Override Frack Bill Veto in North Carolina
Republicans in the North Carolina General Assembly were able to override Democratic Gov. Bev Perdue’s veto of a bill to legalize hydraulic fracturing (fracking) on Monday after a voting error by a Democratic lawmaker.
Proposed Bakken Pipe Signs Anchor Shipper, Blasts Enbridge
Backers of the proposed High Prairie Pipeline for taking away burgeoning Bakken Shale play oil supplies fired two shots Tuesday in an attempt to untangle their 450-mile, 16-inch diameter pipeline project. They contracted with an anchor shipper for the line and filed a second complaint with a federal agency against Enbridge Energy Partners LP for blocking an interconnection of the proposed pipeline.
Appalachian Producers Outline Shale Recommendations
In an attempt to bring uniformity to the exploration and production of oil and natural gas in the shale plays of the Appalachian Basin, a consortium of 11 producers last Tuesday released recommended standards and practices on everything from the preparation of a regional spill and emergency response plan to the use of hydraulic fracturing (fracking) fluids, as well as on community engagement and well site selection.
Appalachian Group Proposes Standards for Shale Development
In an attempt to bring uniformity to the exploration and production of oil and natural gas in the shale plays of the Appalachian Basin, a consortium of 11 producers Tuesday released recommended standards and practices on everything from the preparation of a regional spill and emergency response plan to the use of hydraulic fracturing (fracking) fluids, as well as for local relations and well site selection.
Obama Seeks More CFTC Funding to Crack Down on Manipulation
In an attempt to turn the tables on Republicans, who have been relentless in their attacks on the administration’s energy policies, President Obama Tuesday called on Congress to provide funding for his five-part plan to combat manipulation, fraud and excessive speculation in the energy markets, particularly the oil market. While the oil market is the primary target of the president’s plan, the administration effort does have implications for natural gas traders and contracts.
GAO Recommends Data Clearinghouse for Unregulated Gathering Pipes
In an attempt to minimize safety risks, the secretary of the Department of Transportation (DOT) should direct the administrator of the Pipeline and Hazardous Materials Safety Administration (PHMSA) to collect information from operators of federally unregulated onshore natural gas gathering and hazardous liquid pipelines, the Government Accountability Office (GAO) said in a new report Thursday.
Industry Briefs
In an attempt to minimize safety risks, the secretary of the Department of Transportation (DOT) should direct the administrator of the Pipeline and Hazardous Materials Safety Administration (PHMSA) to begin collecting information from operators of federally unregulated onshore natural gas gathering and hazardous liquid pipelines, the Government Accountability Office (GAO) said in a new report. The DOT should establish an online clearinghouse or other resource for sharing the information on pipeline safety practices that is collected, said the GAO. It noted that the data should be similar to what PHMSA collects annually from operators of regulated gathering pipelines (mostly located in non rural areas), such as fatalities, injuries, property damage, location, mileage, size, operating pressure, maintenance and the causes of incidents and consequences. The nation’s pipeline network includes an estimated 200,000-plus miles of onshore gathering pipelines, many of which have not been subject to federal regulation based on their generally rural location and low operating pressures.
Survey Finds More Pennsylvania Wells and Fewer Cows
As Marcellus Shale development has been expanding across Pennsylvania, dairy production has been falling, but it’s unclear how the two trends are connected, according to a report from Pennsylvania State University.