A county court judge in Nacogdoches, TX, on Thursday dissolved a landowner’s temporary restraining order (TRO) against TransCanada Corp. that attempted to stop construction of the southern portion of the Keystone XL Pipeline from Canada.
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Snow, Cold Prop Up Northeast Cash, Futures
Cash prices weakened across most points Friday as traders attempted to navigate the tricky three-day trading window with lower weekend demand followed by a higher demand start to the week.
NGSA’s Horvath Dismisses Shale’s Black Swans
The future of American’s shale industry is bright and the darkest shadows on the horizon are nothing more than black swans — potential problems that involve high impact risks but a low probability of occurring — according to Natural Gas Supply Association of America (NGSA) CEO R. Skip Horvath.
The Gas Just Keeps On Coming; January Collapses
January natural gas plunged Wednesday as traders attempted to factor in an ever-increasing storage surplus and noted continued mild weather projections. At the close January had tumbled 14.3 cents to $3.136 and February had fallen 13.4 cents to $3.187. January crude oil imploded $5.19 to $94.95/bbl.
Pennsylvania Township Sued Over Marcellus Ordinance
Range Resources Corp. has filed suit against a Pennsylvania township, alleging that the municipality violated state meetings law by not giving proper notice before making sweeping, prohibitive changes to its Marcellus Shale drilling ordinance.
Push for NAT GAS Act Pumps Up Volume
With its own strategic business interest at stake, Seal Beach, CA-based Clean Energy Fuels Inc. attempted to make the case Friday for American business supporting national legislation to help boost the use of natural gas as a transportation fuel. Clean Energy’s founder, T. Boone Pickens, is a big backer of the proposed legislation known as NAT GAS Act (see Daily GPI, April 21).
ExxonMobil’s Tillerson Defends Onshore Gas Drilling
ExxonMobil Corp. CEO Rex Tillerson, who helms the largest natural gas producer in North America, attempted civility and then cut short a barrage of critics Wednesday who voiced their concerns about hydraulic fracturing (hydrofracking) at the company’s annual meeting in Dallas.
PG&E Responds to Latest Pipe Criticism
Noting that it had invested nearly $1.5 billion during the past 26 years to replace one-third of its natural gas transmission system, Pacific Gas and Electric Co. (PG&E) attempted Wednesday to put in perspective concerns and alleged inconsistencies cited by officials regarding its work before and after a catastrophic pipeline rupture last year in San Bruno, CA.
Nuclear Losses, Strong Inventory Figures Continue to Lift Futures
Natural gas futures rose Friday as traders attempted to factor in the loss of generation from the Browns Ferry nuclear plant and continued bullishness derived from Thursday’s inventory report. At the close June had risen 12.7 cents to $4.698 and July was up 12.8 cents to $4.761. June crude oil added $1.07 to $113.93/bbl.
Traders Mull Thursday’s Inventory Report; April Gains Again
April futures scored another impressive gain Wednesday as traders attempted to factor in a late-season bout of cold weather that is expected to have little long-term impact on inventories. At the close April futures had posted a gain of 8.1 cents to $4.335 and May added 8.1 cents as well to $4.412. May crude oil gained 78 cents to $105.75/bbl.