Hot conditions occupying most of the eastern two-thirds of the United States were unable to keep the overall rally that had begun the week from fading Tuesday. Prior-day futures weakness contributed to the bearish mood, and the return of industrial load from its normal weekend decline obviously was ineffective in propping up the cash market.
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Baker Hughes Raises Rig Count, Reports Strong Services Demand
The North American drilling services market is tight and getting tighter, squeezed by increased activity in liquids-heavy and emerging shale oil plays, Baker Hughes Inc. CEO Chad Deaton said Tuesday.
Nova Scotia to Review Fracking Issues
Responding to concerns expressed by citizens, the government of Nova Scotia has begun a year-long review of environmental issues associated with hydraulic fracturing (hydrofracking).
Shell’s Mega-Project Pearl GTL Receives First Gas
Natural gas has begun flowing through a subsea pipeline offshore Qatar into Pearl GTL, the largest gas-to-liquids (GTL) plant ever built, Royal Dutch Shell plc said last week.
Shell’s Mega-Project Pearl GTL Receives First Gas
Natural gas has begun flowing through a subsea pipeline offshore Qatar into Pearl GTL, the largest gas-to-liquids (GTL) plant ever built, Royal Dutch Shell plc said Wednesday.
Industry Brief
JayHawk Energy Inc. has begun evaluating for drilling its recently acquired acreage in the Bakken Shale. The Post Falls, ID-based company also said it was looking to add more acreage to its Bakken holdings and plans to accelerate its efforts through purchases and joint ventures through 2011. JayHawk has procured more than 1,066 gross acres — about 135 net acres — in Divide County, ND. Spacing of wells is currently 1,280 acres, so JayHawk said it will pool its acreage with other interest holders in order to drill a well, possibly by 4Q2011.
Softness Prevails in Mixed Market
The price rally that had begun Monday didn’t reverse entirely but appeared to be losing some steam Wednesday. More than a few points were able to extend previous gains by small amounts, but even more were faltering due to declining heating load in some areas and the previous day’s downturn of 6.3 cents by April futures.
Corridor Resources to Explore Old Harry Prospect
Corridor Resources Inc. has begun the approval process to drill an exploration well on the Old Harry prospect in the Laurentian Channel, the Halifax, NS-based junior resource company said.
Penn Virginia Brings Marcellus Gathering System Online
Penn Virginia Resource Partners LP (PVR) has begun commercial operations on the first large-diameter gathering pipeline in the north-central Pennsylvania Marcellus fairway, the Radnor, PA, company said.
Bison Begins Delivering Gas From the Rockies
TransCanada Corp. last Tuesday said its Bison Pipeline has begun service, transporting natural gas produced in the Powder River Basin to customers in growing Midwest markets.