Each

The Texas Sunset Advisory Commission has released findings from its separate audits of the Railroad Commission of Texas (RRC) and the Texas Commission on Environmental Quality (TCEQ). While each agency was recommended for another 12-year lease on life, changes are in order, the reviews found.

The Texas Sunset Advisory Commission has released findings from its separate audits of the Railroad Commission of Texas (RRC) and the Texas Commission on Environmental Quality (TCEQ). While each agency was recommended for another 12-year lease on life, changes are in order, the reviews found.

Oil and natural gas producers and environmental groups routinely have been at odds with each other over the practice of hydraulic fracturing (fracking), but they are now working together to draft a framework for regulation.

October natural gas futures continued to inch higher Wednesday, lending more credibility with each passing day that the market’s seasonal low is already in the books. The prompt-month contract breached psychological resistance at $4 for a second session in a row before closing at $3.995, up 2.9 cents from Tuesday’s finish.

Texas Eastern Transmission LP (Tetco) and Iroquois Gas Transmission System LP each announced open seasons last week for projects that would target growing gas production in the Marcellus Shale.

In an effort to lower heating bills next winter, the Maryland Public Service Commission (PSC) has ordered each of the state’s utilities to purchase 40% of its summer gas injection needs immediately for delivery between now and October.

In an effort to lower heating bills next winter, the Maryland Public Service Commission (PSC) has ordered each of the state’s utilities to purchase 40% of its summer gas injection needs immediately for delivery between now and October.

Hurricanes Gustav and Ike, striking within less than two weeks of each other, as of late Tuesday had curtailed around 130 Bcf of natural gas production from the federal offshore areas alone, and the ongoing shut-ins now surpass the combined impact on a cumulative basis of hurricanes Katrina and Rita in 2005, energy analysts said this week.

Oklahoma City-based Quest Resource Corp. (QRCP) has completed its purchase of privately held PetroEdge Resources for $142 million, which will give Quest 78,000 net acres of Appalachian Basin acreage with estimated proved reserves of 99.6 Bcfe. PetroEdge’s current net production was around 3.2 MMcfe/d. Simultaneous with the close, QRCP sold some of its producing wells, with estimated proved developed reserves of 32.9 Bcfe, and all of the current net production to its partnership, Quest Energy Partners LP, for $72 million. QRCP owns 100% of the general partner and a 57% limited partner interest in Quest Energy Partners. About 70,600 of the new leasehold is in the Marcellus Shale, including 41,200 net acres in Ritchie, Wetzel and Lewis counties of West Virginia and 22,200 net acres in Lycoming County, PA. Together with its existing acreage and development rights, QRCP would own the right to develop 122,600 net acres within the fairway of the Marcellus Shale and 7,300 net acres outside the fairway.