Coming

FERC has approved Tennessee Gas Pipeline’s proposed changes to its pooling points to accommodate greater natural gas supplies coming from the Marcellus and Haynesville shale formations and the Rocky Mountain region.

As natural gas pipelines serving traditional long-line routes to market in North America have begun filing for new rate hikes in an attempt to make up for the load lost to locally delivered shale gas, fundamental market changes associated with the rate increases could affect basis differentials going forward, according to a new report from Evergreen, CO-based Bentek Energy.

June natural gas futures gained ground as traders covered short positions prior to both the June contract expiration and the release of government inventory figures. At the closing bell June natural gas had risen 3.4 cents to $4.379 and July had gained 3.2 cents to $4.423. July crude oil jumped $1.73 to $101.32/bbl.

Nearly all of the cash market continued to rise Tuesday, but its recent overall bullishness may be coming to an end as weather-based load diminishes and prior-trading day futures guidance grows a bit more negative.

Relations are increasingly strained between the California Public Utilities Commission (CPUC) and Pacific Gas and Electric Co. (PG&E) after coming to a head Tuesday over the utility’s latest plans to verify operating pressures for hundreds of miles of natural gas transmission pipeline in highly populated areas.

Oil and natural gas production at Royal Dutch Shell plc is on track to grow by almost 12% from 2010 levels over the coming three years, with a big boost from North American onshore and deepwater projects, CEO Peter Voser said last week.

Sen. Bob Casey (D-PA) reintroduced legislation on Tuesday to increase regulations on hydraulic fracturing (hydrofracking), but the new bill is entering a different world than its predecessor.

Oil and natural gas production at Royal Dutch Shell plc is on track to grow by almost 12% from 2010 levels over the coming three years, with a big boost from North American onshore and deepwater projects, CEO Peter Voser said Tuesday.

Although Pennsylvania does not have severance tax on natural gas production, the state is starting to collect more tax revenues from counties with significant Marcellus Shale development activity than from counties without it, according to a new report from Penn State University.