Driver

The revival of the U.S. industrial sector will be “the most significant driver” to higher long-term natural gas prices, lifted by new ethylene crackers, ammonia plants and natural gas-to-liquids (GTL) facilities fed by unconventional natural gas, according to an analysis by Raymond James & Associates Inc.

The revival of the U.S. industrial sector will be “the most significant driver” to higher long-term natural gas prices, lifted by new ethylene crackers, ammonia plants and natural gas-to-liquids (GTL) facilities fed by stores of natural gas, according to an analysis by Raymond James & Associates Inc.

Pennsylvania continues its support for natural gas use to power vehicles.

The Eagle Ford Shale of South Texas is likely the biggest potential driver of U.S. oil production growth for the next five to 10 years with production on track to pass 1 million b/d by the middle of next year and 1.7 million b/d by the end of 2015, analyst at Raymond James & Associates said in a note Monday.

The upstream industry could see its drilling inventory grow if horizontal drilling opportunities being explored by several companies pan out, according to analysts at Raymond James & Associates Inc.

Thirty-two of the dry natural gas rigs operated by Nabors Industries Ltd. in the Haynesville Shale have been redeployed to liquids areas “and we expect more of the remaining 26 to be diverted” soon, CEO Tony Petrello said late Tuesday.

Hitting an all-time high in domestic U.S. energy production with shale plays as a major driver, Occidental Petroleum Corp.(Oxy) still looks to cut its natural gas production in the Midcontinent basins because of continuing low prices, CEO Stephen Chazen said Thursday.

Hitting an all-time high in domestic U.S. energy production with shale plays as a major driver, Occidental Petroleum Corp.(Oxy) still looks to cut its natural gas production in the Midcontinent basins because of continuing low prices, CEO Stephen Chazen said Thursday.

Quicksilver Resources Inc. is the latest company to disclose that it has been served by the Securities and Exchange Commission (SEC) with a subpoena seeking information on proved developed producing (PDP) shale gas wells and reserve estimates from Jan. 1, 2008.