The Marcellus and Eagle Ford shales have exactly what the U.S. gas market doesn’t need right now: more gas on the way, according to natural gas analysts at Barclays Capital. They titled their latest note — an analysis of the effects of upcoming pipeline debottlenecking in the two plays — “Unleashing a Caged Monster.”
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Drilling Poses Small Earthquake Risk, Says Study
Stimulating natural gas and oil production by hydraulically fracturing horizontal wells doesn’t pose a big risk for triggering earthquakes that are strong enough for a human to feel, but other types of energy-related activities could make the ground noticeably shake, according to the conclusions of major government science report released on Friday.
National Research Council: Drilling Poses Small Earthquake Risk
Stimulating natural gas and oil production by hydraulically fracturing horizontal wells doesn’t pose a big risk for triggering earthquakes that are strong enough for a human to feel, but other types of energy-related activities could make the ground noticeably shake, according to the conclusions of major government science report released on Friday.
Industrial Demand Could Boost Natural Gas Prices, EIA Says
Natural gas prices this year and next will be slightly higher than previously forecast, lifted in large part by an expected increase in demand from the industrial sector, the Energy Information Administration (EIA) said Tuesday.
Gas Glut Taking Time to Adapt, Says Bentek Exec
Whether the natural gas market is “proactive or reactive” today doesn’t matter much in the grand scheme of things, according to Bentek Energy’s Jack Weixel. Like the chicken or the egg metaphor, asking which came first, gross gas production or dry gas production is irrelevant when considering that today output is 20 Bcf/d higher than in 2006.
Gas Glut Didn’t Appear Overnight, Won’t Disappear Tomorrow, Says Bentek Exec
Whether the natural gas market is “proactive or reactive” today doesn’t matter much in the grand scheme of things, according to Bentek Energy’s Jack Weixel. Like the chicken or the egg metaphor, asking which came first, gross gas production or dry gas production is irrelevant when considering that today output is 20 Bcf/d higher than in 2006. The real question is how will the market adapt, or rather, what’s the market going to do with all the production?
Hess Asks For Patience in Bakken
As part of lackluster first quarter results released Wednesday, Hess Corp. said it doesn’t expect to meet production targets in the Bakken Shale this year, but warned analysts to be patient with the company while it shifts its focus from international basins toward its three liquids rich shale plays in the United States.
ConocoPhillips, Oxy to Defer Gas Drilling
ConocoPhillips last week said it would shut in about 100 MMcf/d in North America and doesn’t anticipate spending heavily on new natural gas drilling this year. Occidental Petroleum Corp. (Oxy) also intends to cut its gas output and defer onshore drilling because prices continue to be “horrible,” CEO Stephen Chazen said.
ConocoPhillips to Shut In 100 MMcf/d of North American Gas
ConocoPhillips is shutting in about 100 MMcf/d in North America and doesn’t anticipate spending heavily on new natural gas drilling this year, CFO Jeff Sheets said Wednesday.
Monterey Shale Independent Venoco to Go Private
Denver-based Venoco Inc., an independent exploration and production (E&P) company in California’s oil-dominated Monterey Shale, said Monday CEO Tim Marquez intends to buy back all the publicly held shares of the company he founded, subject to shareholder and regulatory approvals.