Most Points Inch Higher, But Eastern Averages Jump

The physical market was mostly quiet Friday and posted gains of about 2 cents, but that’s only if no one counted the meteoric gains caused by weather at numerous points from the Mid-Atlantic to New England. Futures were tame by comparison and the March contract was only able to carve out a 7-cent range. At the close March was unchanged from Thursday at $2.477, which is only 2.2 cents lower than the contract’s close the previous week.

February 13, 2012

Alberta Fluid Spill Spooks Authorities

It was brief and caused no injuries or damage, but the accident set off alarms among regulators, production companies and field contractors

January 30, 2012

Most Points Fall; Northeast Still Sees Some Spikes

Warming trends due Thursday in the South along with much of the Midwest and Rockies caused enough diminution of heating load to push prices a few cents lower at a modest majority of points Wednesday. However, forecasts of windy snow showers and lows generally in the 30s kept quotes moving much higher in most of the Northeast, with several citygates again recording dollar-plus advances.

December 29, 2011

S&P Bumps Up Ratings for Plains E&P

Expectations for improved results in California and in its shale plays, along with tightening of its finances, caused Standard & Poor’s Ratings Services (S&P) to increase its ratings and outlook on Houston-based midsize exploration and production (E&P) company, Plains Exploration & Production Co. (PXP), the rating agency announced earlier in November.

November 22, 2011

Transportation Notes

El Paso warned shippers of a potential Strained Operating Condition (SOC) being declared due to high linepack caused by actual takes below scheduled deliveries and supply basin receipts in excess of scheduled volumes. The Washington Range storage facility is in maximum injection mode, El Paso said, and it has contacted two points about their actual takes versus scheduled volumes and the possibility of them being subjected to a location-specific SOC.

November 14, 2011

Shales Heating Up Talk of U.S. as LNG Exporter

The surge of U.S. shale gas supplies has caused a large-scale rethink on liquefied natural gas (LNG) and the relationship of the U.S. gas market to that of the rest of the world. Those who used to watch U.S. shores for inbound tankers now wonder how soon and how many tankers will leave this country loaded with liquefied shale gas.

November 10, 2011

Cuadrilla Acknowledges Fracking Caused Tremors at Drill Site in England

Two small earthquakes in northwest England that occurred earlier this year at some natural gas drilling sites likely were caused by hydraulic fracturing (fracking), according to a report issued on Wednesday by UK-based Cuadrilla Resources Ltd.

November 4, 2011

Deepwater Leases Extended to Compensate for Moratorium Delays

The Interior Department on Monday extended 1,381 deepwater oil and natural gas drilling leases to compensate for delays caused by the Macondo well blowout and subsequent offshore drilling moratorium.

November 1, 2011

Pennsylvania Lawmakers: Impact Should Determine Well Fee

A group of Pennsylvania state lawmakers is proposing an impact fee on Marcellus Shale wells based upon the actual damage caused by natural gas operations in the state.

September 30, 2011

Transportation Notes

Due to facility damage caused by a flash fire that occurred during a welding job at its Herscher Storage Facility (see Daily GPI, Aug. 17), NGPL declared a force majeure event at Compressor Station 201 in Kankakee County, IL. Effective Thursday until further notice the Midwestern-Kankakee interconnect is unavailable, NGPL said.

August 18, 2011