Two New York Towns Take Wait-and-See Approach to Fracking

Two municipalities in upstate New York have decided to remain neutral on the issue of high-volume hydraulic fracturing (HVHF) and will wait until the state Department of Environmental Conservation (DEC) issues its report on the practice.

August 13, 2012

Gastar’s Marcellus Output Surges

Gastar Exploration Ltd. said Wednesday net production from its Marcellus Shale assets have increased more than 34-fold in a year, a result of ramped up drilling activity in the liquids-rich portion of the play during the second quarter of 2012.

August 9, 2012

Chesapeake Drops More Gas Rigs, Boosts Liquids

Chesapeake Energy Corp., which has spent the last decade creating one of the largest natural gas drilling machines in the United States, quickly is becoming an onshore liquids dynamo, CEO Aubrey McClendon told financial analysts Tuesday.

August 8, 2012

Most Onshore Oil Plays Economic at $65 WTI, Says Raymond James

The Permian Basin, as well as the Eagle Ford and Bakken shales, which today are considered the “big three” drivers of U.S. oil production, would remain economic at current costs if West Texas Intermediate (WTI) crude oil prices were to fall to $65/bbl, according to an analysis by Raymond James & Associates Inc. In fact, 13 of 20 onshore oil plays evaluated would breakeven below $65 using current costs, said analysts.

July 17, 2012

Industry Brief

Hearings continue Wednesday in New Mexico on proposed changes to make the state’s “pit rule” for oil/natural gas drilling more cost effective. Additional hearings are expected to last through Aug. 17 and the Oil Conservation Commission (OCC) has set closing arguments and final deliberation for September, according to staff in the New Mexico Environment Department. An eighth day of hearings was concluded last Thursday with direct testimony from two Oil Conservation Division supervisors who supported modifications in the rule for handling gas and oil drilling production waste (see Daily GPI, May 22) that will result in “clear and unambiguous” requirements. Industry representatives earlier in the hearings said drilling costs are rising to comply with the state rule, while local ranchers and environmental group representatives expressed their concerns about adverse impacts on the environment.

June 26, 2012

Gas Use for Canadian Oil Extraction to More than Double by 2021

Years of research, development and production line changes will be needed to clean up the oilsands by replacing the current method of boiling them into flowing with steam heat, according to new projections by Alberta’s Energy Resources Conservation Board (ERCB).

June 25, 2012

Experts Disagree On Link Between Fracking, Quakes

The number of “felt” manmade earthquakes induced by hydraulic fracturing (fracking) in oil and natural gas operations is negligible, the chair of a major report on seismicity activity told a Senate panel Tuesday. However the disposal of the water associated with fracking of shale gas wells is linked to increased quake activity, an official with the U.S. Geological Survey (USGS) said.

June 20, 2012

Fracking Proposals Advance in North Carolina

A series of legislative proposals that would allow hydraulic fracturing (fracking) and enact several other changes to North Carolina’s energy policies within two years have cleared an important hurdle and could come to a vote this summer.

May 18, 2012

Ohio Senate Approves New Fracking Rules

The Ohio Senate approved new rules governing hydraulic fracturing (fracking) on Tuesday, part of a lengthy energy bill that makes changes throughout the Ohio Revised Code.

May 17, 2012

Broad Double-Digit Cash Jump Follows Advancing Futures

Cash market quotes bounded higher Tuesday even though traders saw little in the way of increased loads or fundamental changes in the market. Average gains at all points were more than 16 cents and Northeast points were the softest but they advanced over a dime.

May 2, 2012