Reserve growth from 70 oil and natural gas accumulations in the United States — excluding both federal offshore areas and the nation’s burgeoning shale plays — has the potential to add 291 Tcf of natural gas, 32 billion bbl of oil and 10 billion bbl of natural gas liquids (NGLs) to domestic reserves, according to an estimate by the U.S. Geological Survey (USGS).
Both
Articles from Both
U.S. Awash in NGL and Crude Supplies, Braziel Says
With heavy ramifications for Midcontinent energy infrastructure and eventual exports, the United States will find itself with oversupplies of both domestically produced liquids and crude oil from now through 2017, market consultant/analyst Rusty Braziel of RBN Energy LLC told a session of the Colorado Oil and Gas Association (COGA) annual meeting in Denver earlier this month (Aug. 13-16).
Shale Liquids Bounty Is Light and Sweet
With heavy ramifications for Midcontinent energy infrastructure and eventual exports, the United States will find itself with oversupplies of both domestically produced liquids and crude oil from now through 2017, market consultant/analyst Rusty Braziel of RBN Energy LLC told a session of the Colorado Oil and Gas Association (COGA) annual meeting in Denver earlier this month (Aug. 13-16).
Chenango, NY, Considering One-Year Moratorium on Oil, Gas Activities
Elected officials in the Town of Chenango, NY, voted unanimously on Wednesday to schedule a public hearing over whether to enact a one-year moratorium on oil and natural gas activities, including hydraulic fracturing (fracking).
Flaring-to-Fertilizer Could Be North Dakota Fix
Facing an ongoing challenge of flaring up to almost a third of its associated natural gas supplies in the oil-rich Bakken Shale, North Dakota is considering a proposal to use mobile equipment to turn some of the flared supplies into much-needed fertilizer for the state’s agricultural industry. Another proposal calls for a $1 billion farmer-owned fertilizer plant using natural gas currently being flared.
USGS: Non-Shale Onshore Could Add 291 Tcf to Reserves
Reserve growth from 70 oil and natural gas accumulations in the United States — excluding both Federal offshore areas and the nation’s burgeoning shale plays — has the potential to add 291 Tcf of natural gas, 32 billion bbl of oil and 10 billion bbl of natural gas liquids (NGLs) to domestic reserves, according to a new estimate by the U.S. Geological Survey (USGS).
Strong Northeast Unable To Offset Overall Weakness; Futures Ease
Physical and futures markets both fell about 4 cents Monday as weather forecasts called for cooler temperatures across major energy markets. Some Northeast points shot higher, while California locations fell moderately in spite of forecasts for greater power generation requirements. At the close of futures trading September had given up 4.1 cents to $2.729 and October had retreated 4.0 cents to $2.768. September crude oil fell 14 cents to $92.73/bbl.
Midstreams DCP, Energy Transfer Struggle on Weak NGL Prices
Lower natural gas liquids (NGL) prices weighed down 2Q2012 earnings for both DCP Midstream Partners LP (DPM) and Energy Transfer Equity LP (ETE), the companies’ executives said in separate conference calls with analysts Wednesday.
Survey Finds Support for Marcellus Drilling in Pittsburgh Area
Residents of Pittsburgh and the 32-county area surrounding it believe drilling for natural gas in the Marcellus Shale is both an economic opportunity for the region and a potential environmental and public health threat, according to the results of a recent survey conducted by PittsburghToday and the staff of the University of Pittsburgh’s University Center for Social and Urban Research.
Driller Threatens to Sue Over New York Drilling Bans
Lenape Resources Inc., an oil and natural gas producer based in New York, is threatening to sue the state’s Department of Environmental Conservation (DEC) if the agency doesn’t advise three towns in Livingston County that they don’t have the authority to enact local drilling bans.