Cash prices advanced 8 cents on average Thursday as a winter storm that began in the West and Rockies marched through the Great Plains and into the Great Lakes. Only a few Northeast points showed declines.
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WeatherBug: Drought Conditions May Push Winter Cold South
A continuation of the drought that began this summer in the nation’s midsection could help keep temperatures in the region low this winter, and has the potential to trigger a repeat of 2010-2011’s wellhead freeze-offs, according to a 2012-13 Winter Outlook released by Earth Networks-WeatherBug.
Private Equity Taking Big Interest in E&P, Midstream
Independent exploration and production (E&P) operators in the United States have faced a funding dilemma since they began rushing into unconventionals. With more resources than capital, many have taken loans that have increased their debt, or they’ve sought out joint venture (JV) partners to pay for drilling expenses.
WeatherBug: Drought Conditions May Push Winter Cold South
A continuation of the drought that began this summer in the nation’s midsection could help keep temperatures in the region low this winter, and has the potential to trigger a repeat of 2010-2011’s wellhead freeze-offs, according to a 2012-13 Winter Outlook released Wednesday by Earth Networks-WeatherBug.
Private Equity Taking New Interest in E&P, Midstream
Independent exploration and production (E&P) operators in the United States have faced a funding dilemma since they began rushing into unconventionals. With more resources than capital, many have taken loans that have increased their debt, or they’ve sought out joint venture (JV) partners to pay for drilling expenses.
Statoil Looks to Canada for Better Natural Gas Prices
Statoil ASA, which has natural gas and oil operations in the Gulf of Mexico and across North America, last Thursday began delivering its U.S. natural gas produced in the Marcellus Shale to Canada to secure better prices.
NJNG Shuts Down Part of Barrier Island System; May Have to Rebuild
New Jersey Natural Gas (NJNG) Thursday began shutting off gas flow to a part of its system that served customers on the barriers islands that were ravaged by Hurricane Sandy on Monday.
People
The Railroad Commission of Texas (RRC) named Gil Bujano as director of the commission’s oil and gas division. Bujano has been serving as the acting director since March and is a 28-year veteran of the commission. He began his employment at the commission in 1984 at the San Antonio RRC district office and also has worked in the Abilene, Pampa and Houston district offices. After serving as assistant director in the Houston district office, Bujano transferred to Austin in June 2009 to supervise the commission’s technical permitting unit. In August 2010, Bujano was promoted to deputy director of the oil and gas division.
Industry Briefs
GreenHunter Water LLC recently began handling water disposal services at its newly completed salt water disposal (SWD) facility near Helena in Karnes County, TX. The facility is composed of new storage tanks and a fully contained offloading platform that features four unloading tractor trailer bays, a 150 hp pumping system and 2,400 bbl of onsite storage. The newly drilled SWD well was completed to the Middle Wilcox formation at a total depth of 7,800 feet. Green Hunter Water is a unit of GreenHunter Energy Inc. “We expect demand for Class II injection capacity in this part of the Eagle Ford Shale play to remain robust due to the increased drilling in the region directly related to the successful drilling efforts by operators in the ‘oil window’ of the Eagle Ford,” said Green Hunter Energy President Jonathan D. Hoopes. “With this new well now online and the facility operational, GreenHunter Water’s total owned disposal capacity has reached 35,000 bbl per day from a total of seven SWD wells located in five states.”
PVR’s New Marcellus Exit Enters Service
Penn Virginia Resource Partners LP (PVR) has begun service on a new 30-mile, 24-inch diameter trunkline serving Marcellus Shale producers in north-central Pennsylvania with 750 MMcf/d of capacity. The capacity gives producers shipping gas out of the Marcellus a way around constraints on Tennessee Gas Pipeline’s congested 300 Line.