A diverse coalition of often opposing forces Wednesday launched a center to provide producers with certification of performance standards for shale development and established the first 15 standards designed to ensure safe and environmentally responsible development of the Appalachian Basin’s shale gas resources.
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The Federal Energy Regulatory Commission (FERC) Monday approved DCP Midstream LP’s request to build an 11-mile pipeline to transport gas from the Niobrara Shale in the Denver-Julesburg (DJ) Basin to interstate natural gas markets served by the Colorado Interstate Gas (CIG) pipeline. The proposed $12 million pipeline facilities (LaSalle Residue Line) would connect to the proposed LaSalle processing plant in Weld County, CO. The only shipper on the proposed line would be DCP. DCP Midstream is a joint venture of Spectra Energy and ConocoPhillips. Based on new production in the Niobrara Shale in the DJ Basin, DCP told FERC it plans to construct the 110 MMcf/d LaSalle gas processing plant and a new gathering pipeline in Weld County (see Shale Daily, May 16, 2011).
Stuck in the Middle, November Drifts Lower
November futures eased in light trading Monday as traders saw the day’s activity as insufficient to attract the attention of either bulls or bears. At the close November had fallen 2.5 cents to $3.604 and December had shuffled lower by 3.2 cents to $3.794. December crude oil rocketed higher in concert with equity market strength, adding $3.87 to $91.27/bbl.
Shales Seen as International Investor ‘Stepping Stone’
The smell of success emanating from North American shale gas plays has wafted overseas, drawing foreign investors to joint ventures (JV) with U.S. producers. Eventually some of those foreign investors will be acquiring U.S. energy companies, Deloitte LLP consultants said.
Pennsylvania Severance Tax Talks Move to Governor’s Mansion
Despite meetings that brought together members of both chambers and both sides of the aisle in Pennsylvania’s General Assembly and representatives from the gas industry at the Governor’s Mansion in Harrisburg Monday and Tuesday, agreement on a proposed natural gas severance tax bill remains elusive, according to Senate President Pro Tem Joe Scarnati (R-Jefferson).
EIA Sees Continued Pressure on Gas, Oil and Power Prices
Prices for natural gas, crude oil and electricity, which already are alarmingly high, are expected to continue their upward climb through the end of the year or longer, according to the Energy Information Administration’s (EIA) Short-Term Energy Outlook for July.
EIA: U.S. Looking at Higher Gas Prices, More Demand and Less LNG
Weather, the weakening U.S. dollar, stronger demand and North America’s inability to attract cargoes of liquefied natural gas (LNG) in a competitive world market are all expected to exert upward pressure on natural gas prices, according to this month’s “Short-Term Energy Outlook” from the U.S. Energy Information Administration (EIA).
EIA: U.S. Looking at Higher Gas Prices, More Demand and Less LNG
Weather, the weakening U.S. dollar, stronger demand and North America’s inability to attract cargoes of liquefied natural gas (LNG) in a competitive world market are all expected to exert upward pressure on natural gas prices, according to this month’s “Short-Term Energy Outlook” from the U.S. Energy Information Administration (EIA).
Deepwater Spending Forecast to Surge in Next Five Years
Despite declining well numbers in many offshore regions around the world, drilling services will continue to attract a “flood” of cash, with deepwater expenditures — especially in West Africa and the Gulf of Mexico — nearly doubling in the next five years, according to Douglas-Westwood Ltd.’s latest worldwide offshore drilling forecast.
2005: A Look Back at the Year in Natural Gas
The year 2005 will be remembered for its hurricanes and record-setting natural gas prices, events that continuously grabbed the top headlines in the Natural Gas Intelligence newsletters, making them the longest-running top stories for the industry. Besides the actual hurricanes and consequent price spikes, it appeared that nearly everyone in a position to be quoted — congressmen, regulators, analysts, advocates, and industry executives — had comments, warnings, or prognostications about the events that roiled the industry. Other events — while important — only sporadically managed to shove hurricanes and prices out of the spotlight.