With the clock running out on an A45 cents/share takeover offer from Aurora Oil & Gas Ltd., directors of Eureka Energy, are being coy, advising investors to sit tight until its June 15 expiration “as there is the potential for important developments.” Indeed, it was reported that privately held Lonestar Resources Inc. had made a competing offer that would be considered over the weekend.
Basis
Articles from Basis
Report Sees Hurdles Ahead for Pennsylvania NGVs, Despite Strength of Marcellus
Even with the huge Marcellus Shale, the high cost of natural gas vehicles and a lack of infrastructure to fuel the vehicles may deter growth in the state, according to the Allegheny Conference on Community Development.
Transco Primed to Deliver for Marcellus Customers, Says Williams CEO
Williams management said Thursday it is primed for continued growth from the Marcellus Shale because producers want more natural gas takeaway capacity and stalwart Transcontinental Gas Pipe Line (Transco) is ready to deliver the goods.
Another Colorado Town Halts Oil/Gas Development
Elected officials in a third town in Colorado, Erie, on Wednesday night adopted a six-month moratorium on oil/gas development on an emergency basis, making the halt effective immediately.
IHS CERAWeek: Colorado, Ohio Govs. Claim States’ Rights Over Shale Regs
The two state chief executives agreed that environmental safeguards are imperative from both the public’s and the industry’s perspective. They offered their views during a keynote panel discussion moderated by the huge annual energy confab’s founder Daniel Yergin, the well-known global energy author/expert.
North America Onshore Rig Count Flat in 2012, Says Schlumberger
North America’s land rig count is expected to be flat this year, with natural gas-directed drilling on the decline while liquids and oil drilling will strengthen, Schlumberger Ltd.’s CEO said Friday.
FERC Urged to Revoke CNYOG Eminent Domain Power for Marcellus Project
The Pennsylvania Game Commission (PGC), which oversees game and wildlife in the state, has called on FERC to revoke eminent domain authority for Central New York Oil & Gas Co. LLC (CNYOG) to seize state land to build the MARC I Hub Line project in northeastern Pennsylvania.
West Virginia Gas Activity Driven by Marcellus Shale
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.
Futures Gain on Short Squeeze; Sellers Lie in Waiting
August natural gas futures advanced Thursday following the release of government inventory figures and on the basis of buy orders prompted by systematic and algorithmic traders. The Energy Information Administration (EIA) reported an increase in natural gas inventories of 78 Bcf, slightly lower than market estimates, and the market immediately jumped off session lows. At the close August had added 5.9 cents to $4.374 and September was up 5.9 cents as well to $4.393. August crude oil rose 65 cents to $95.42/bbl.
Author: U.S. Has Home Team Advantage in Shale Game
Whether one loves or hates hydrocarbon fuels, “they are here to stay,” an energy lecturer and author told a Houston audience. “They provide nine out of 10 units of energy, nine out of 10 units of power…That will remain the case for decades to come. Energy transitions happen over decades or centuries, not over years.” The transition under way now is to natural gas, particularly that from shale plays, he said.