Back

President Obama’s proposal to scale back $41 billion in oil and natural gas tax breaks as part of his $447 billion jobs stimulus bill will hit both major producers and independents in their pocketbooks, said a tax attorney with a Washington, DC-based law firm last week.

President Obama’s proposal to scale back $41 billion in oil and natural gas tax breaks as part of his $447 billion jobs stimulus bill will hit both major producers and independents in their pocketbooks, said a tax attorney with a Washington, DC-based law firm (see Daily GPI, Sept. 13).

The state of Alaska pushed back the date of its annual Beaufort Sea, North Slope and North Slope Foothills lease sale to possibly expand the sale’s North Slope acreage offering as well as provide prospective bidders additional time to prepare.

Natural gas production in West Virginia is continuing on an upward swing dating back to 2003, thanks in part to development in the Marcellus Shale, a report released this month by the Department of Environmental Protection (DEP) said.

A business and government alliance is emerging to back TransCanada Corp.’s contested plan to increase Ontario natural gas pipeline service, confirming western producer fear that the scheme caters to eastern consumer desire to shop for U.S. gas supplies.

A business and government alliance is emerging to back TransCanada Corp.’s contested plan to increase Ontario natural gas pipeline service, confirming western producer fear that the scheme caters to eastern consumer desire to shop for U.S. gas supplies.

Marcellus Shale development is not bringing much money into local governments, but also not taking much money out of local governments, according to a recent study of two prolific Pennsylvania counties.

Almost three months to the day after first enacting a ban on natural gas drilling, the City of Wellsburg, WV, voted 5-3 on Tuesday night to repeal the measure.

A Gulf of Mexico (GOM) lease sale that was delayed by the Macondo well blowout is back on the calendar for December, the head of the Bureau of Ocean Energy Management, Regulation and Enforcement (BOEM) said. During a House Natural Resources Committee hearing on July 15 BOEM Director Michael Bromwich said the federal agency was “working very hard to do a lease sale in the western Gulf before the end of the year.” If it is delayed, “it would only slip a very little bit” to January. “We’ve been pushing very hard because we know how important it is to get that lease sale.” The western leasing area of the GOM generally is viewed as less attractive commercially to oil and gas operators than tracts in the central GOM, where the Macondo well was being drilled. A sale of central GOM leases remains on track to be completed before June 30, when the current five-year leasing plan is scheduled to expire, the BOEM chief said.