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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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.
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.
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.
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 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.
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.
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.
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.