The Chesapeake Bay Foundation (CBF) urged President Obama on Monday to authorize a comprehensive study of hydraulic fracturing (hydrofracking) in the Marcellus Shale of six states and its potential effects on the Chesapeake Bay watershed.
Blown
Articles from Blown
Tropic Uncertainty Leads Futures Higher
Spooked by the potential of coming in Monday to a full-blown hurricane churning in the Gulf of Mexico, natural gas futures traders on Friday pushed the July contract to a high of $4.893 before the contract closed the regular session at $4.861, up 11.3 cents from Thursday’s finish but 13.6 cents below the previous week’s close.
BP: More Than 11,000 Bbl Collected Sunday
The apparatus collecting oil and natural gas spewing from BP plc’s blown Macondo well a mile below the surface of the Gulf of Mexico (GOM) prevented 11,100 bbl of oil from flowing into the GOM on Sunday, according to press reports.
Storage Draw Finally Hits Target, But Futures Falter
After weeks of blown storage report estimates that called for larger withdrawals than were actually revealed (see Daily GPI, Jan. 7), most of the energy industry was on target on Thursday as the Energy Information Administration (EIA) reported that 153 Bcf was removed from underground storage for the week ending Jan. 1.
Court Deals Blow to Munis’ Lawsuit Against Major Producers
A district court judge in Washington, DC has blown a major hole in a lawsuit brought by a coalition of 18 Midwest municipal gas utilities accusing five major natural gas companies of engaging in activities to “control and unlawfully” raise the price of gas in the United States in restraint of trade or commerce.
Court Deals Blow to Munis’ Lawsuit Against Major Producers
A district court judge in Washington, DC has blown a major hole in a lawsuit brought by a coalition of 18 Midwest municipal gas utilities accusing five major natural gas companies of engaging in activities to “control and unlawfully” raise the price of gas in the United States in restraint of trade or commerce.
Prices Fall as Mild Weather Supplants Storm Influence
It didn’t take long for “storm hype” to get blown away as a price booster. Even with Minerals Management Service (MMS) reporting that more than 2 Bcf/d of Gulf of Mexico production was shut in Wednesday due to the proximity of Tropical Storm Bonnie, all points fell between a dime and about a quarter in cash trading.
ChevronTexaco to Sever Marketing Contracts with Dynegy, Writes Down $1.55B on Losses
With refining margins down, production problems up and its Dynegy Inc. investment blown, ChevronTexaco Corp. (CVX) reported a net loss of $904 million (85 cents/share) for the third quarter, compared to earnings of $1.27 billion ($1.19/share) for the same period a year ago. Total net charges were $2.07 billion, including the $1.55 billion Dynegy write-off.
Without Dynegy Charges, ChevronTexaco’s 3Q Earnings Still Off 28%
With refining margins down, production problems up and its Dynegy Inc. investment blown, ChevronTexaco Corp. reported a net loss of $904 million (85 cents/share) for the third quarter, compared to earnings of $1.27 billion ($1.19/share) for the same period a year ago. Total net charges were $2.07 billion, including the $1.55 billion Dynegy write-off.
Rigs Lost as Lili Hits Offshore Hard With 150 mph Winds, 30-Foot Swells
Two drilling rigs capsized, another was blown 45 miles from its mooring and one platform was damaged, according to early reports, as Hurricane Lili went through the Gulf of Mexico production area early Thursday as a category 4, before dropping in intensity and hitting the Louisiana coast as a category 2 with winds of less than 110 mph.