Forgive traders if they were feeling some sense of deja vu Wednesday. Much like early last week, Northeast delivered numbers were skyrocketing in the $3 area in several cases, while most of the rest of the market was down by less than a dime.
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Marcellus Shale Gas Headed for Canada
With forecasts for Marcellus shale production to equal or exceed the 8.3 Bcf/d current total of all natural gas delivered to eastern markets by 2020, pipeline operators serving the area have a smorgasbord of plans for expanded lines to eastern markets, including eastern Canada, according to pipeline panelists at a recent Pennsylvania producers meeting.
Marcellus Shale Gas Headed for Canada
With forecasts for Marcellus shale production to equal or exceed the 8.3 Bcf/d current total of all natural gas delivered to eastern markets by 2020, pipeline operators serving the area have a smorgasbord of plans for expanded lines to eastern markets, including eastern Canada, according to pipeline panelists at a recent Pennsylvania producers meeting.
ExxonMobil Accelerates North American Gas Output
Irving, TX-based super major ExxonMobil Corp. delivered the goods in 2Q2010, reporting that its net profits jumped 85% and production rose 8% from the year-ago period. Excluding one-time charges, ExxonMobil earned $7.56 billion ($1.60/share), compared with $3.95 billion (85 cents) in 2Q2009.
ExxonMobil Accelerates North American Gas Output
Irving, TX-based super major ExxonMobil Corp. delivered the goods on Thursday, reporting that its 2Q2010 net profits jumped 85% and production was up by 8% from the year-ago period. Excluding one-time charges, ExxonMobil earned $7.56 billion ($1.60/share), compared with $3.95 billion (85 cents) in 2Q2009.
Supreme Court Reaffirms Mobile-Sierra
The U.S. Supreme Court last Wednesday delivered more certainty to parties contracting in wholesale energy markets when it ruled in an 8-1 decision that the venerable Mobile-Sierra doctrine does in fact apply to noncontracting third parties as well as contracting entities. The ruling means third-party challengers to contracts would have to meet the higher “public interest” standard of Mobile-Sierra rather than a merely “just and reasonable” hurdle.
Supreme Court Reaffirms Mobile-Sierra Standard
The U.S. Supreme Court on Wednesday delivered more certainty to parties contracting in wholesale energy markets when it ruled in an 8-1 decision that the venerable Mobile-Sierra doctrine does in fact apply to noncontracting third parties as well as contracting entities. The ruling means third-party challengers to contracts would have to meet the higher “public interest” standard of Mobile-Sierra rather than a merely “just and reasonable” hurdle.
Pipeline Projects Lifting Rail Service
Union Pacific Railroad’s Pipeline Express — which serves the steel pipeline industry by delivering product for oil and gas producers — has delivered its 25,000th rail car of pipeline product, the railroad said Thursday.
Chesapeake CEO Says ‘Not Time Yet’ to Hedge
Since the beginning of this year Chesapeake Energy Corp. has delivered realized gas hedging gains of $1.8 billion, but it’s in no rush to hedge any of its 2010 natural gas production, CEO Aubrey McClendon said last week.
Chesapeake CEO: U.S. Gas Output to Fall ‘Significantly’ in 2010
Since the beginning of this year Chesapeake Energy Corp. has delivered realized gas hedging gains of $1.8 billion, but it’s in no rush to hedge any of its 2010 natural gas production, CEO Aubrey McClendon said Tuesday.