The United States has 2,384 Tcf of technically recoverable natural gas, the Potential Gas Committee (PGC) and the American Gas Association (AGA) said Tuesday. That’s more reserves than the PGC has calculated in its 48-year history and beats the previous high seen in 2010 by 486 Tcf.
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PGC, AGA: Abundant U.S. Gas Resources Looking for Big Markets
The United States has 2,384 Tcf of technically recoverable natural gas, the Potential Gas Committee (PGC) and the American Gas Association (AGA) said Tuesday. That’s more reserves than the PGC has calculated in its 48-year history and beats the previous high seen in 2010 by 486 Tcf.
A ‘Miss’ in Lime Sale for Chesapeake?
The deal that Chesapeake Energy Corp. made last week to sell half of its leasehold in the Mississippian Lime was calculated at around $2,500/acre gross, or less than $1,000/acre net, not necessarily the price that the market had been expecting. Energy analysts said the lower-than-expected price may be attributed to several things: foreign firms getting more savvy about undeveloped leaseholds, the company’s hurry to fix its balance sheet, or perhaps the value of the formation itself.
A ‘Miss’ in Lime Sale for Chesapeake? Operators Remain Optimistic
The deal that Chesapeake Energy Corp. made on Monday to sell half its leasehold in the Mississippian Lime was calculated at around $2,500/acre gross, or less than $1,000/acre net, not necessarily the price that the market had been expecting. The lower expected price may be attributed to several things, said analysts: foreign firms getting more savvy about undeveloped leaseholds, the value of the formation, or Chesapeake’s hurry to fix its balance sheet.
New York City’s NatGas Infrastructure Upgrades Said Critical
A year-long study of New York City’s energy infrastructure has found that upgrades to natural gas services are critical for the city to prepare for huge supply and demand growth over the next two decades.
New York City Natural Gas Infrastructure Upgrades Critical, Study Finds
A year-long study of New York City’s energy infrastructure has found that upgrades to natural gas services are critical for the city to prepare for huge supply and demand growth over the next two decades.
Chesapeake’s NAV Questioned by Research Analyst
Chesapeake Energy Corp.’s (CHK) financial and operating deals, impacted by low natural gas realizations, have damaged the calculated net asset value (NAV) of some of the natural gas plays in its massive portfolio, according to an analysis by ITG Investment Research.
Low Gas Prices Help Sour Independent Power, S&P Says
Abundant natural gas, including shale, is playing a significant role in continuing the three-year slide in electric power prices and the downbeat outlook for independent power producers, say analysts.
New York Issues Subpoenas Over Production Estimates
The attorney general of New York has issued subpoenas to three companies looking to develop oil and gas resources in the Marcellus Shale, part of an investigation into how the companies calculated production estimates and drilling costs to investors.
Traders Mull Weather, Strong Rig Count; July Advances
July natural gas futures rose Friday as traders calculated that expected warmer weather would pare storage injections in upcoming weeks. At the close July had added 3.6 cents to $4.229 and August was up 3.3 cents to $4.250. August crude oil gained 14 cents to $91.16/bbl following a $4.39 plunge on Thursday.