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Unlike legislation passed out of two House committees in October, the head of the Commodity Futures Trading Commission (CFTC) last Tuesday said he does not believe there should be any exception to clearing and trading of standardized over-the-counter (OTC) derivative products.

Unlike legislation passed out of two House committees this month, the head of the Commodity Futures Trading Commission (CFTC) Tuesday said he does not believe there should be any exception to clearing and trading of standardized over-the-counter (OTC) derivative products.

The U.S. Supreme Court is scheduled to hear oral arguments next month in a case that could have far-reaching ramifications for the sanctity of electricity and natural gas contracts.

The U.S. Supreme Court is scheduled to hear oral arguments next month in a case that could have far-reaching ramifications for the sanctity of electricity and natural gas contracts.

Miller Petroleum Inc., which does business as Miller Energy Resources, continued its 2009 oil and gas asset grab on Tuesday, announcing that it has entered into an agreement to purchase the south-central Alaska assets of Cook Inlet Energy LLC for $875,000.

SandRidge Energy Inc. is pushing ahead on plans to become a niche natural gas player after throwing down a bid close to midnight Tuesday to buy bankrupt Crusader Energy Group Inc. in a cash and stock transaction worth an estimated $230 million.

While the quiet start to the 2009 Atlantic hurricane season, which has so far produced no tropical cyclones, does not guarantee the next four months will remain calm, the number of tropical storms likely to form this year is lower than originally predicted, scientists at the National Oceanic and Atmospheric Administration (NOAA) said Thursday.

While the quiet start to the 2009 Atlantic hurricane season, which has so far produced no tropical cyclones, does not guarantee the next four months will remain calm, the number of tropical storms likely to form this year is lower than originally predicted, scientists at the National Oceanic and Atmospheric Administration (NOAA) said Thursday.

CNX Gas Corp.’s first horizontal well in the Marcellus Shale is producing at a rate of 6.5 MMcf/d, which sets a company record for daily output. The production rate is among the highest reported to date by any producer operating in the Appalachian Basin play. The CNX well, located in Green County, PA, began flowing on Oct. 2 at an initial rate of 1.2 MMcf/d and 4,000 pounds/square inch (psi) of backpressure. The backpressure gradually was reduced, which allowed daily production to increase to about 4 MMcf/d until early in December, when newly installed surface equipment enabled the well to flow at the record rate. The backpressure was being held at 2,640 psi. Cumulative production from the well prior to the record rate achieved was 106 MMcf. The Marcellus well was drilled to a vertical depth of 8,140 feet in the Huntersville Chert, penetrating 83 vertical feet of shale. CNX holds a 100% working stake in the well and also has 100% net revenue interest. The Pittsburgh-based independent is drilling its second vertical Marcellus Shale well, which would be hydraulically fractured using second and third horizontal wells.