Basis

Rockies natural gas pricing “continues to strengthen on a relative basis,” and new pipelines scheduled for completion this year will provide even more market access, Ultra Petroleum Corp. CEO Michael Watford said during a first quarter earnings conference call.

While Quebec’s announcement that hydraulic fracturing could continue on a limited basis has divided people in the province, a government official in the neighboring province of New Brunswick said a moratorium on the practice won’t be implemented there.

April natural gas futures rose Monday as end-users took advantage of sub-$4 pricing and discounted forecasts calling for milder if not unseasonably warm temperatures. At the close April had gained 11.8 cents to $3.927 and May rose 9.7 cents to $3.984. April crude oil added $1.02 to $105.44/bbl.

Copano Energy LLC plans to increase capacity to handle natural gas liquids (NGL) associated with growing gas production from the Eagle Ford Shale in South Texas, the midstream company said.

Record keeping and the basis for operating pressures in large natural gas transmission pipelines in some instances are inadequate and more attention is needed nationally; that is one of the lessons that California energy regulatory officials cited Thursday from the fatal September pipeline rupture in San Bruno, CA. They expressed sensitivity to how effective they have been in their oversight role, and predicted implications for regulators and pipelines throughout the nation.

Record keeping and the basis for operating pressures in large natural gas transmission pipelines in some instances are inadequate and more attention is needed nationally; that is one of the lessons that California energy regulatory officials cited Thursday from the fatal September pipeline rupture in San Bruno, CA.

Shale plays figured prominently in the third quarter performance of Denver-based QEP Resources as the company grew production by about 20% from the year-ago period.

Shale play activity has come on like gangbusters in recent years, greatly augmenting the overall supply picture. Some producers appear dubious about how sustainable even the highly competitive economics of shale drilling are during a period in which gas prices universally have slipped below $4 into the pipe, but many keep shifting rigs into their shale acreage anyway.

North American operators are continuing to shift from conventional natural gas plays “to oil and shales, particularly the gas and condensate plays,” which puts Weatherford International Ltd. in a particularly strong position, CEO Bernard Duroc-Danner said Tuesday.