Begins

The 2011 Atlantic hurricane season, which officially begins in just two weeks, will be active but produce fewer tropical storms than previously expected, according to forecasters at MDA EarthSat Weather, who said warming waters in the Pacific Ocean will also keep a lid on summer temperatures.

The California Public Utilities Commission (CPUC) Tuesday begins a series of three public hearings to gather testimony on pipeline safety. It is a response to the apparent lack of local knowledge about the Pacific Gas and Electric Co. (PG&E) pipeline that ruptured last September in a residential neighborhood in suburban San Bruno, CA, south of San Francisco.

The U.S. exploration and production (E&P) sector has entered an energy “supercycle” as the market begins to realize the magnitude of “real” asset growth from the abundance of onshore reserves and the potential from liquids and natural gas shales, said FBR Capital Markets analysts last week.

The U.S. exploration and production (E&P) sector has entered an energy “supercycle” as the market begins to realize the magnitude of “real” asset growth from the abundance of onshore reserves and the potential from liquids and natural gas shales, said FBR Capital Markets analysts.

Quebec said Thursday a new royalty regime for shale gas will take effect in the province once it concludes a two-year strategic environmental assessment of the industry.

Chevron Corp., which had eschewed domestic shale plays in favor of the deepwater, on Tuesday reversed course, agreeing to pay a total of $4.3 billion to acquire Atlas Energy Inc.’s million-acre-plus U.S. shale leasehold.

Seasonal fall temperatures are due to reign in most areas as the new month begins Monday, and that was bearish news for the cash market. Even without the “weekend factor” of light industrial load in effect, prices fell at a large majority of points Friday.

As the 3Q2010 earnings season begins, BMO Capital Markets analysts are predicting that the biggest North American independents will report “slightly higher” cash flow from the year-ago period and double-digit production growth.

Southern noted that it will lose 64% of its available injection/withdrawal capability during a shutdown test of the Muldon (MS) Storage Field that begins Tuesday and runs through the following Monday. Based on current supplies and anticipated demand, Southern expected injection requirements Tuesday to exceed capability by about 75,000 Dth/d.