Damage

The 2011 Atlantic hurricane season, which has so far produced five named storms but little damage to the U.S. coastline or energy interests in the Gulf of Mexico, may be poised to ramp up tropical activity, according to forecasters at AccuWeather.com.

The 2011 Atlantic hurricane season, which has so far produced five named storms but little damage to the U.S. coastline or energy interests in the Gulf of Mexico, may be poised to ramp up tropical activity, according to forecasters at AccuWeather.com.

Tennessee declared a force majeure event for the section of pipe between Main Line Valves 400-1 and 402-1 in the Agua Dulce, TX, area due to possible damage from a third-party accident. Based on current nominations, Tennessee anticipated the possibility of restricting through a pro rata portion of Previous Scheduled (PS Priority) nominations for Monday’s Intraday Cycle and a pro rata portion of Secondary Out of Path nominations for Tuesday.

Texas lawmakers are not yet into the meat of their current legislative session, but as with the last session two years ago, the Barnett Shale seems to be drawing the most attention, at least judging by potential legislation, Texas Independent Producers and Royalty Owners Association (TIPRO) President Justin Furnace told NGI’s Shale Daily.

Despite bringing relatively little damage to the United States mainland and energy interests in the Gulf of Mexico, the 2010 hurricane season, which officially ended last Tuesday, was one of the busiest in years, according to weather forecasters at the National Oceanic and Atmospheric Association (NOAA) and Andover, MA-based WSI Corp.

Despite bringing relatively little damage to the United States mainland and energy interests in the Gulf of Mexico, the 2010 hurricane season, which officially ended Tuesday, was one of the busiest in years, according to the National Oceanic and Atmospheric Association (NOAA).

Following the April natural gas futures contract’s 20 cents-plus decline on Thursday, traders on Friday took a break to assess the damage. Despite Friday’s 8.4-cent rise to $4.169, most market watchers still see yet lower prices ahead. The week’s close was 23.1 cents lower than at the end of the prior week.

Following the April natural gas futures contract’s 20 cents-plus decline on Thursday, traders on Friday took a break to assess the damage. Despite Friday’s 8.4-cent rise to $4.169, most market watchers still see yet lower prices ahead. The week’s close was 23.1 cents lower than at the end of the prior week.

If demand for oil and natural gas continues to decline, damage to the energy industry could be significant and the downturn may last up to three years, according to several energy experts.