Unconventional natural gas production in the Lower 48 states — most notably coal-bed methane supply — is expected to account for more than one-third of all U.S. gas production by 2025, the Energy Information Administration (EIA) said last week.
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Unconventional natural gas production in the Lower 48 states — most notably coal-bed methane supply — is expected to account for more than one-third of all U.S. gas production by 2025, according to the Energy Information Administration (EIA).
If FirstEnergy Corp. decides not to sell four predominantly coal-fired power plants in Ohio that it still has on its hands after a proposed sale to NRG Energy fell through this summer, the Ohio-based utility will recognize a one-time, non-cash charge of $35 million in the fourth quarter, a FirstEnergy official told financial analysts last Wednesday.
FirstEnergy Corp. has canceled the $1.5 billion sale of four predominantly coal-fired power plants (2,535 MW) located along Lake Erie in Ohio to NRG Energy in anticipation of a breach of the sale agreement by NRG. FirstEnergy notified NRG, which is struggling through a financial crisis due to credit downgrades, and its NRG Able Acquisition LLC affiliate on Thursday that the agreements have been canceled and that FirstEnergy has reserved its right to pursue legal action against the companies.
Coal bed methane (CBM) development could speed up in Montana after state and federal officials issued a draft environmental impact statement (EIS) concerning development in the southern part of the state. The Department of Interior’s Bureau of Land Management (BLM) recommended alternatives that would require operators to submit a development plan and water-use plan for CBM production. The proposal also would require wastewater to be recycled for irrigation or livestock watering.
If you got a lump of coal in your stocking this Christmas,rejoice. It could be the only thing left to heat your home by theend of winter. There is a growing consensus among gas marketexperts that there will be a shortage by March if the weather staysnormal or colder than normal.
Peabody Group, the world’s largest coal company, on Friday soldits Citizens Power unit to a subsidiary of Edison International, aswell as selling its third-party power contracts. Peabody, owned byLehman Merchant Banking Partners, is expected to net about $100million from the two transactions, using the money to pay downdebt.
Out of the multiple commodities now trading on EnronOnlineworldwide, including gas, power, oil, coal, pulp and paper, cleanair credits, bandwidth, weather and credit derivatives,petrochemicals and plastics, North American natural gas still topsthe list of most actively traded. The rapidly growing e-commercesite, which Enron claims is the world’s largest with more than $50billion in transactions so far this year, now consumes much morethan 50% of Enron’s wholesale commodity transactions, includingmore than 10 Bcf/d of in the first quarter.
ANR Pipeline slipped more than a few lumps of coal in GuardianPipeline’s stocking over the holidays’ in the form of a 250-pageprotest and motion for dismissal filed with FERC. The Coastalsubsidiary has a right to be angry at its new competitor. TheGuardian project will result in the decontracting of about 650MDth/d of ANR’s firm transportation capacity by Guardian shipperand affiliate Wisconsin Gas and the loss of $54 million in annualrevenue, according to ANR’s calculations.
Construction of a new 710 MW gas-fired cogeneration plant toreplace a 75-year old coal-fired powerhouse supplying Ford MotorCompany’s massive Rouge complex and Rouge Steel Co. in Dearborn,MI, is going into overdrive following a boiler explosion lastTuesday that killed one person, critically injured a dozen othersand destroyed the power plant.