Correction

In the story, “ConocoPhillips, Pioneer Natural CEOs Preach Discipline as Permian Activity Rebounds,” Pioneer Natural Resources Co.’s free cash flow (FCF) projections were misstated. Pioneer expects to deliver $16 billion of cumulative FCF over the next five to six years, assuming a $55/bbl Brent crude oil price. NGI’s Shale Daily regrets the error.

April natural gas is expected to open 3 cents higher Wednesday morning at $2.80 as traders factor in an upcoming cold spurt and take note of what might be a nascent technical recovery. Overnight oil markets were mixed.

In the article titled “‘Bakken Forward’ Marks Return of Optimism in North Dakota Oil Patch,” NGI’s Shale Dailyincorrectly listed the number of jobs tied to U.S.-Canada trade as 9,000 (see Shale Daily,May 26). Canada’s Consul-General for the upper U.S. Midwest region, Jamshed Merchant, who spoke at the Williston Basin Petroleum Conference, said the number was actually nine million. NGI regrets the error.

The United States needs “a major course correction” in its approach to conservation, according to U.S. Secretary of the Interior Sally Jewell, who on Tuesday outlined a long-term overview and plans for the rest of the year which include reviews of previous land use decisions.

The United States needs “a major course correction” in its approach to conservation, according to U.S. Secretary of the Interior Sally Jewell, who on Tuesday outlined a long-term overview and plans for the rest of the year which include reviews of previous land use decisions.

In the March 24 article “Primus Planning Small-Scale GTL Facility Using Marcellus Gas,” NGImisstated the standard methanol capacity of a Primus plant (see Shale Daily, March 24). While the plants can be built in various sizes, a standard model already developed uses 5 MMcf/d of gas feedstock to produce 160 MT/d of methanol. NGI regrets the error.

FERC has approved Southern Natural Gas Co. LLC’s (SNG) request to abandon nearly 20 miles of pipeline and associated facilities in Alabama to comply with a correction action order issued by the Pipeline and Hazardous Materials Safety Administration (PHMSA) to address the hazards associated with wrinkle bends, which led to a failure on SNG’s system in late 2009.

FERC has approved Southern Natural Gas Co. LLC’s (SNG) request to abandon nearly 20 miles of pipeline and associated facilities in Alabama to comply with a correction action order issued by the Pipeline and Hazardous Materials Safety Administration (PHMSA) to address the hazards associated with wrinkle bends, which led to a failure on SNG’s system in late 2009.

Correction: Macquarie Cook Energy’s 8.12 Bcf/d was omitted from the initial release of the 2Q2009 survey. NGI has since received the Houston-based company’s data, which ranks Macquarie Cook fourth on the 2Q2009 survey. Macquarie Cook integrated Constellation Energy’s gas trading business into its operation at the beginning of April 2009 (see Daily GPI, March 31). The divestitures completed two initiatives that Constellation took to reduce risk in its merchant businesses and improve liquidity through the return of posted collateral. In a related transaction, Constellation struck a gas supply agreement with Macquarie Cook to supply gas to Constellation’s Louisville, KY-based retail division, Constellation NewEnergy Gas. In the second quarter of 2008 Constellation ranked second on NGI’s ranking of top gas marketers by volume at 14.2 Bcf/d, behind BP plc at 30.3 Bcf/d and tied with ConocoPhillips, which also reported 14.2 Bcf/d.