In Texas, natural gas and renewable resources are the energy industry’s peanut butter and jelly, according to a new report paid for by a foundation that bears the name of a shale gas patch pioneer. Free wind and solar need natural gas-fueled generators to back them up, and renewables are cheaper to dispatch than fossil-fueled power sources.
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Natural Gas, Wind Seen as Ideal Texas Power Team
In Texas, natural gas and renewable resources are the energy industry’s peanut butter and jelly, according to a new report paid for by a foundation that bears the name of a shale gas patch pioneer. Free wind and solar need natural gas-fueled generators to back them up, and renewables are cheaper to dispatch than fossil-fueled power sources.
Wells Shut After New York Town’s ‘Ludicrous’ Moratorium
Just days after a town in western New York adopted a one-year moratorium on oil and natural gas activities, the town’s only operator made a rare move and decided to shut down its wells and pipelines there, halting royalty payments and free natural gas to landowners.
El Paso Beats the Street in 3Q; Pipe Profit up 12%
Driven by strong results from its bread-and-butter natural gas pipelines and a 99% success rate in exploratory drilling, El Paso Corp. last week delivered 18 cents/share quarterly profit, two cents ahead of Wall Street expectations, and well ahead of the 50 cents/share loss a year earlier. Net income climbed to $126 million, versus a loss of $321 million in 3Q2005, and operating revenue rose 41% to $1.06 billion from $752 million.
El Paso Beats the Street in 3Q; Pipe Profit up 12%
Driven by strong results from its bread-and-butter natural gas pipelines and a 99% success rate in exploratory drilling, El Paso Corp. delivered 18 cents/share quarterly profit on Monday, two cents ahead of Wall Street expectations, and well ahead of the 50 cents/share loss a year earlier. Net income climbed to $126 million, versus a loss of $321 million in 3Q2005, and operating revenue rose 41% to $1.06 billion from $752 million.