Foreign buyers up to now have been gaining intelligence about drilling in North America’s prolific unconventional formations through joint ventures (JV) and region-specific acquisitions with willing U.S. natural gas and producers, but that’s about to change, according to an energy expert with industry consultant PwC US.
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National Fuel Cuts Seneca Capex, Two Marcellus Rigs
National Fuel Gas Co. (NFG) said low natural gas prices were forcing its Seneca Resources Corp. subsidiary to scale back capital expenditures (capex) on exploration and production (E&P) for fiscal 2012, which includes dropping two of its six drilling rigs in the Marcellus Shale.
Sierra Club Seeks FERC Intervention in LNG Exports
Looking for a back door into the dispute over exports of liquefied natural gas (LNG), the Sierra Club has attacked FERC’s environmental review of the proposed Sabine Pass Liquefaction LLC facilities, saying it failed to consider the impact on shale development and domestic gas prices.
Environmental Group Slams FERC on LNG Exports Review
Looking for a back door into the dispute over exports of liquefied natural gas (LNG), the Sierra Club has attacked FERC’s environmental review of the proposed Sabine Pass Liquefaction LLC facilities, saying it failed to consider the impact on shale development and domestic gas prices.
Sierra Club Seeks FERC Intervention in LNG Exports
Looking for a back door into the dispute over exports of liquefied natural gas (LNG), the Sierra Club has attacked FERC’s environmental review of the proposed Sabine Pass Liquefaction LLC facilities, saying it failed to consider the impact on shale development and domestic gas prices.
Comstock Stepping Up in Oil, Stepping Back from Gas
Frisco, TX-based Comstock Resources Inc. has joined the ranks of producers that are pulling back from natural gas drilling to direct more resources to oil.
Cabot Says Duplicate EPA Tests in Dimock Undermine Policy
Cabot Oil & Gas Corp. says it is “disappointed” and “concerned” over a decision by the U.S. Environmental Protection Agency (EPA) to conduct water sampling in Dimock Township, PA, saying the action duplicates a state investigation, causes regulatory uncertainty and conflicts with Obama administration policy.
Bentek: North America Will Be Soaking in Crude
Crude oil production in the United States and Canada will grow by 3.1 million b/d, or about 38%, over the next five years thanks to technologies and development practices honed in the U.S. shale gas patch, according to a new analysis by Bentek Energy LLC. The United States alone will grow oil production by 2.2 million b/d, most of it light or intermediate grades, the firm said.
Monterey Shale Independent Venoco to Go Private
Denver-based Venoco Inc., an independent exploration and production (E&P) company in California’s oil-dominated Monterey Shale, said Monday CEO Tim Marquez intends to buy back all the publicly held shares of the company he founded, subject to shareholder and regulatory approvals.
Warm Weather, Shale Production Holding Down 2012 Price Forecasts
Unusually warm winter weather and the ongoing production boom from the nation’s shale plays will help keep natural gas spot prices down in 2012, the Energy Information Administration (EIA) and analysts at Bank of America Merrill Lynch (BofA) said in separate reports Monday.