Dropped

Marcellus Backlog May Lift Gas Output

Although drilling activity in the Marcellus Shale has slowed and some producers have dropped rigs, there is enough of a drilling backlog that, if wells were brought online over a one-year period, production would continue to grow but at a slower pace, energy analysts with Barclays Capital said.

March 11, 2013
Marcellus Drilling Backlog Could Keep Production Growing in ’13

Marcellus Drilling Backlog Could Keep Production Growing in ’13

Although drilling activity in the Marcellus Shale has slowed and some producers have dropped rigs, there is enough of a drilling backlog that, if wells were brought online over a one-year period, production would continue to grow but at a slower pace, energy analysts with Barclays Capital said.

March 8, 2013

Summit Buying North Dakota, Colorado Midstream Company

Summit Investments has agreed to acquire Bear Tracker Energy LLC for $513 million from affiliates of GSO Capital Partners LP and Bear Tracker Investments LLC. Midstream company Bear Tracker is focused on oil and natural gas in North Dakota and Colorado.

January 11, 2013

Northeast Sees $10-Plus Gas; 72 Bcf Storage Draw Doesn’t Faze Traders

Natural gas cash prices soared Friday following a post-Christmas snow storm that dropped more than a foot of snow on large swaths of the Northeast. A handful of locations in the region even soared north of $10/MMBtu as pipelines were running at capacity with even more cold forecasted in the week ahead.

December 31, 2012
Texas Permitting, Gas Production Declining

Texas Permitting, Gas Production Declining

The number of original drilling permits issued in Texas during November declined from one year ago, as did the amount of natural gas produced from Texas wells during October compared to a year ago, according to Railroad Commission of Texas (RRC) figures.

December 28, 2012

Shell Drops Bid to Develop Natural Gas in Northern BC

Royal Dutch Shell plc has dropped plans to develop coalbed methane in British Columbia (BC) following the provincial government’s decision to ban natural gas and oil exploration in the Klappan, an aboriginal area in the northern part of the province.

December 20, 2012

Eastern Points Lead Decline; Futures Add A Nickel

Cash prices overall dropped an average 6 cents Friday as traders were reluctant to make purchases before a long holiday weekend when many locations were forecast to see load-dampening effects of the remnants of Isaac. California points were firm, Eastern points slumped, and Gulf locations were steady to lower. At the close of futures trading October had risen 5.1 cents to $2.799 and November was up by 4.4 cents to $2.963. October crude oil jumped $1.85 to $96.47/bbl.

September 4, 2012

Industry Briefs

Although it recently dropped out of a Western Canada gas-to-liquids (GTL) project with Sasol Canada (see Shale Daily, June 29), Talisman Energy Inc. still foresees monetizing its Montney Shale reserves through “some form of conversion process,” CEO John Manzoni told financial analysts during an earnings conference call. Manzoni said the Montney resource is “big enough, it’s strategic enough, it’s material enough to be in some form of conversion process, which naturally now is more likely to be LNG [liquefied natural gas] then GTL, if that’s the case.” Multiple projects have been proposed to liquefy western Canadian gas and ship it to overseas markets (see Shale Daily, July 31). Manzoni alluded to the LNG projects and said, “…in the context of all of that, we are considering all options and continue to do so…for our Montney resource, how best to create the maximum value for Talisman at the right time for our Montney resource, which is very big and very strategic.”

August 7, 2012

Marathon Drops Rigs in Three Shale Plays

Houston explorer Marathon Oil Corp. reduced its rig count in the Eagle Ford Shale because of drilling efficiencies and dropped rigs in the Anadarko Woodford and Bakken plays in response to a “continued decline in natural gas liquids (NGL) and natural gas prices,” the company said last week.

August 6, 2012

Cash Softens But Futures Swoon

Cash natural gas prices dropped about 5 cents overall Thursday as traders wrapped up most deals prior to the release of government storage data. Weakness was widespread with only a handful of Northeast and eastern points staying flat or showing slight gains.

August 3, 2012