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Penn Virginia Buying Chief’s Marcellus Gathering Unit for $1B

Penn Virginia Resource Partners LP (PVR) is buying Chief Gathering LLC for $1 billion. Chief Gathering serves northeastern Pennsylvania Marcellus Shale producers and is a sister company to producer Chief Oil & Gas LLC.

April 11, 2012

Analysts: Eagle Ford to Rival Bakken for Tight Oil

The outlook for oil output from the Eagle Ford Shale of South Texas is strong enough to cause analysts at Wood Mackenzie to predict that it will rival the Bakken Shale by 2015 as North America’s leading tight-oil producer.

October 12, 2011

Western Pennsylvania Leasing Skyrockets

Marcellus Shale activity has clearly taken hold in western Pennsylvania. In the region’s Allegheny County the number of properties leased for oil/gas exploration climbed by 322% between 2008 and 2009, and about 7% of the county’s land has been leased for drilling and extraction since 2003, according to University of Pittsburgh data.

August 30, 2010

Western Pennsylvania Leasing Skyrockets

Marcellus Shale activity has clearly taken hold in western Pennsylvania. In the region’s Allegheny County the number of properties leased for oil/gas exploration climbed by 322% between 2008 and 2009, and about 7% of the county’s land has been leased for drilling and extraction since 2003, according to University of Pittsburgh data.

August 30, 2010

Virginia Continues Push for Offshore Lease Sale

In a move that he said clearly demonstrated that Virginia supports oil and natural gas exploration, development and production 50 miles or more off its coast, Gov. Bob McDonnell last week signed legislation allocating future offshore royalties and revenues to transportation and the Virginia Coastal Energy Research Consortium, which researches and develops renewable energy solutions.

March 15, 2010

Horizontal Drilling Holds Promise for Conventional Gas

Horizontal drilling into shale rock using multiple fractures (fracs) has “clearly” changed the game for the U.S. natural gas industry, but the drilling process also has the potential to give conventional gas formations, like tight gas sands, an economic boost, Raymond James & Associates Inc. said last week.

October 5, 2009

Horizontal Drilling Shows Promise in Conventional Gas Formations

Horizontal drilling into shale rock using multiple fractures (fracs) has “clearly” changed the game for the U.S. natural gas industry, but the drilling process is showing the potential to give conventional gas formations, like tight gas sands, an economic boost, Raymond James & Associates Inc. said Monday.

September 29, 2009

Cash Market Rebounds at a Majority of Points

Price movement was mixed Monday, but higher quotes clearly outnumbered losses. Heating load was relatively light outside much of the West, leading one source to conclude that cash gains were largely driven by the previous Friday’s 13.2-cent advance by March futures along with an assist from the post-weekend return of industrial demand and modest continuing screen strength Monday morning.

February 10, 2009

Storage Draw of 195 Bcf Seen as Both ‘Neutral’ and ‘Supportive’

Clearly showing the drop-off in demand and the increase in supply from new production, natural gas storage levels in the United States dropped only 195 Bcf for the week ended Jan. 30, which was one of the nation’s coldest weeks this winter. However, traders were actually expecting that only 190 Bcf would be removed for the week, so prices rebounded and ended up closing on the day at $4.642, up 4.5 cents from Wednesday’s regular session finish.

February 6, 2009

CERA: LNG to Become Freely Traded; ‘Armada Already Set Sail’

Liquefied natural gas (LNG) is clearly becoming a more freely traded flexible worldwide commodity that will reshape the global market’s traditional pricing and contracting prices — and most of the new supplies will be flowing to North America, according to Cambridge Energy Research Associates (CERA).

February 18, 2008
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