Control

U.S. onshore natural gas production is on cruise control, but the economy, and commodity prices, are in reverse. The result: more than a few fender benders as exploration and production (E&P) companies issue quarterly earnings reports in the coming days.

U.S. onshore natural gas production is on cruise control, but the economy, and commodity prices, are in reverse. The result: more than a few fender benders as exploration and production (E&P) companies begin issuing quarterly earnings reports this week.

The House last week passed by a wide margin a continuing resolution that allows the 27-year-old congressional moratorium on offshore oil and natural gas drilling, as well as a ban on oil shale exploration in the Intermountain West, to expire Tuesday. House Democrats, who waged a lengthy battle against offshore drilling, conceded that the odds of renewing the ban over the opposition of the White House were slim this year. The Senate was expected to follow suit and pass the CR over the weekend.

The House Wednesday passed by a wide margin a continuing resolution that allows the 27-year-old congressional moratorium on offshore oil and natural gas drilling to expire in less than a week. House Democrats, whose mostly formed a united front against offshore drilling, fractured in recent weeks, conceded that the odds of renewing the ban over the opposition of the White House were slim this year.

Warren Resources Inc. has won approval from pollution control regulators to install six microturbines at its Wilmington Townlot Unit (WTU) oil and gas production site in the Wilmington area of Los Angeles Harbor.

In the long term North America will be the dominant liquefied natural gas (LNG) market, greenhouse gas (GHG) emissions control will increase demand and price pressures on gas, and end-use customers for both electricity and natural gas utilities will face ever-larger rate increases, a panel of U.S. utility executives said last Tuesday at the Goldman Sachs Eighth Annual Power and Utility Conference in New York City.

In the long term North America will be the dominant liquefied natural gas (LNG) market, greenhouse gas (GHG) emissions control will increase demand and price pressures on gas, ultimately end-use customers for both electricity and natural gas utilities will face ever-larger rate increases, a panel of major U.S. utility executives said Tuesday at the Goldman Sachs Eighth Annual Power and Utility Conference in New York City.

After pausing Friday to regroup, the natural gas futures bulls once again were in control on Monday as the February contract reached a high of $8.480 before coming to a close at $8.353, up 14.3 cents from last week’s close.

Anadarko Petroleum has completed a $2.2 billion transaction that has accelerated the monetization of its midstream assets while retaining its existing ownership, control and management of the assets, the company said.