Natural gas well completions in 3Q2012 were down considerably from a year ago, according to the American Petroleum Institute’s latest well completion report, which indicated that 2,209 gas wells were completed in the period, a 35% decline from y3Q2011; oil well completions rose by 18% to 8,580. “The oil and natural gas industry expanded oil drilling in the third quarter…thanks in large part to access on private and state lands,” said Hazem Arafa, director of API’s statistics department. Overall, well completions — including oil and gas wells — maintained high levels from a year ago, with 12,291 wells completed during the third quarter, according to the API report. Total exploratory well completions in the third quarter remained the same (700 wells), and total footage drilled rose 3% to 91.985 million feet.
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API: Gas Drilling Nose-Dived in Third Quarter
Natural gas well completions during the third quarter were down considerably from the same period a year ago, according to the American Petroleum Institute’s latest report on well completions, which was released Monday.
Texas Coffers Lifted by Oil and Gas
Texas tax revenues during fiscal year 2012, which ended Aug. 31, were considerably higher than the prior year, according to the state comptroller’s office, thanks in part to oil and gas activities in the state.
Pew Survey: More Americans Favor Fracking, Offshore Drilling
More Americans continue to view alternative energy development as a higher priority than increased production of natural gas, oil and coal, but the gap has narrowed “considerably” over the past year, according to a poll released on Monday by the Pew Research Center.
Mostly Small Gains, But Some Northeast Quotes Top $8
With even higher temperatures still to come, prices skyrocketed by more than a dollar at Northeast citygates Wednesday while considerably more modest gains permeated the rest of the market.
Prices Still Rising, But by Much Smaller Amounts
Quotes moved higher at nearly all points Tuesday, but the increases were considerably smaller than those that began the trading week. The cash market got a boost from hot weather that has set up camp in the South recently and from a further advance by prompt-month futures the day before.
Support for Natural Gas Vehicles Gaining Momentum
In a week’s time the bullishness for natural gas as a transportation fuel moved up considerably, with the Obama administration and industry promoting the increased use of natural gas-fueled vehicles.
Concho Continues Permian Oil and Gas Asset Grab
Just one week after Concho Resources Inc. added considerably to its oil and gas acreage in the Permian Basin of New Mexico through its completed acquisition of Marbob Energy Corp. assets, the Midland, TX-based producer said Friday that it has acquired additional oil and gas assets, predominately located on the New Mexico Shelf of the basin, for approximately $285 million.
Concho Continues Permian Oil and Gas Asset Grab
Just one week after Concho Resources Inc. added considerably to its oil and gas acreage in the Permian Basin of New Mexico through its completed acquisition of Marbob Energy Corp. assets, the Midland, TX-based producer said Friday that it has acquired additional oil and gas assets, predominately located on the New Mexico Shelf of the basin, for approximately $285 million.
Screen Dive Pulls All of Cash Market Lower
The expiration-day plunge by November futures had the anticipated effect of dragging all cash points considerably lower Thursday. Also, warming trends in the Northeast and Rockies were reducing heating load further. The fact that Thursday’s deals included a weekend flow day (Saturday) because of the transition to a new month on Sunday added another modestly bearish element to the market.
