Cash gas prices fell 8 cents on average Thursday as traders noted a decline in forward-dated contracts and the ongoing sequence of forecast cold weather ended for the moment. Power prices also eased.
Articles from Contracts
Over some industry opposition, the Colorado Oil and Gas Conservation Commission (COGCC) Monday approved final setback requirements for oil and natural gas wells. Industry representatives criticized the action as “going too far,” and potentially hurting the state’s economy.
Range Resources Corp.’s planned five-rig drilling program for 2013 in the Mississippian Lime, which was scheduled to start up early next year, already is under way based on encouraging results from a crop of wells in the Nemaha Ridge area, the company said Thursday.
CBI said it has been awarded contracts by Occidental Chemical Corp. (OxyChem) for the technology license, basic engineering and front end engineering and design services for a proposed new ethane cracker that is anticipated to have capacity of 1.2 billion pounds per year of ethylene.
With energy demand high and producers climbing over each other in the Marcellus Shale region, the Northeast remains “ripe with bottlenecks,” and it’s likely to get more congested before natural gas infrastructure is completed, Williams CEO Alan Armstrong said Wednesday.
Illinois-based Gas Technology Institute (GTI) has signed two contracts with the California Energy Commission (CEC) totaling $3.5 million to support some energy projects in the West. With a satellite office in Davis, CA, GTI will help the CEC develop more economic natural gas-fired combined heat-power (CHP) systems and advanced waste heat recovery technology. GTI received a $1.8 million grant to develop flex-fuel CHP that can operate interchangeably on natural gas or biogas produced by anaerobic digesters at wastewater treatment plants and landfills. GTI also has a $1.73 million grant to demonstrate technology for converting high temperature (900 degrees F) exhaust gas waste heat into electricity on an average-sized industrial furnace.
Sunoco Logistics Partners LP said it has received enough binding commitments to enable Permian Express Phase I, a project to transport West Texas crude oil to Gulf Coast markets, to proceed. The binding open season continues and will close on Sept. 6. Permian Express Phase I would provide continuous pipeline service from Wichita Falls, TX, to Nederland/Beaumont, TX, markets. At Wichita Falls, a connection from Basin Pipeline would be provided. Due to the use of existing assets, the capacity to transport 90,000 b/d to Nederland/Beaumont is to be operational in the first quarter of 2013 (see Shale Daily, June 22).
Range Resources Corp. CEO Jeff Ventura said Wednesday the company’s Marcellus Shale leasehold may have the long-term potential for 24-30 Tcf of reserves.
Dealing with an Eagle Ford gas flow that has turned out to be much more liquids-rich than expected, Regency Energy Partners LP announced Monday that it will expand its Edwards Lime gathering joint venture in the South Texas shale play to increase the system’s capacity by 90 MMcf/d to 160 MMcf/d, and provide for additional crude transportation and stabilization capacity of 17,000 b/d.
The clock is ticking for the United States to begin exporting liquefied natural gas (LNG) before competitors corner the growing global market, according to Donald Raikes, vice president of Dominion Transmission Inc., one of the companies seeking permission to export shale gas.