Effects

First of Several Fracking Bills Passes California Senate

First of Several Fracking Bills Passes California Senate

Even as an administrative process is ongoing to hammer out new state rules on hydraulic fracturing (fracking) by oil/gas regulators, the California Senate on Thursday passed on a 27-11 vote a measure (SB 4) to cover chemical disclosure requirements and public notice before fracking can take place. It drew short, at the industry’s urging, of placing any moratorium on the practice for an interim period.

June 3, 2013

Shale Advantage to Stay in North America, Moody’s Says

The North American shale revolution “is now deeply entrenched,” and is expected to keep natural gas prices at “historically low prices for some time,” creating both long-term benefits and hardships for a variety of sectors and companies, according to a report issued by Moody’s Investor Services on Monday.

May 14, 2013

‘Stop Work’ Rule Designed to Prevent Rig Accidents

The Interior Department’s Bureau of Safety and Environmental Enforcement (BSEE) has issued a final rule that is aimed at enhancing the safety of oil and gas rig workers on the federal Outer Continental Shelf (OCS).

April 8, 2013

Firm Rockies Outpace Eastern Points; Futures Still Under $4

Cash gas prices overall for weekend and Monday delivery dropped an average of 6 cents, but if the distorting effects of Northeast pipelines are factored out, the national average comes in nearly unchanged. Eastern points followed soft power prices, but Rockies prices added about a nickel. The April contract shed 0.8 cent to $3.927 and May eased 0.9 cent to $3.952. May crude oil rose $1.26 to $93.71/bbl.

March 25, 2013

Northeast Gains Mask Broader Market Weakness

Physical gas prices overall on average for weekend and Monday delivery rose a stout 25 cents, but subtracting the price effects of such congested Northeast pipelines as Algonquin, Iroquois, portions of Tennessee and parts of Transco, a broad based decline averaging 8 cents appeared. No points outside of the East and Northeast experienced gains. At the close of futures trading March had shed 1.0 cents to $3.153 and April was down 1.3 cents to $3.218. March crude oil fell $1.45 to $95.86/bbl.

February 19, 2013

Westlake 3Q Best Ever Thanks to Ethane

The effects of cheap U.S. ethane were writ large in the third quarter results of Westlake Chemical Corp., which has a number of projects under way to take greater advantage of the low-cost feedstock.

November 12, 2012

Westlake Chemical Has Best-Ever 3Q Thanks to Ethane

The effects of cheap U.S. ethane were writ large in the third quarter results of Westlake Chemical Corp., which has a number of projects under way to take greater advantage of the low-cost feedstock.

November 12, 2012

Permian Lifts Devon’s Production Numbers

Onshore unconventional powerhouse Devon Energy Corp. plans to spend “significantly less” on exploration in 2013, but exploration activity still will remain at 2012 levels, CEO John Richels said Wednesday.

November 9, 2012

Industry Briefs

The growth of the natural gas industry in Pennsylvania’s eastern Marcellus Shale helped the area avoid the worst of the 2008 recession, and the positive effects have only just begun, according to a study by the Institute for Public Policy and Economic Development (IPPED). A comparison of the impact of the Marcellus on Pennsylvania’s 10th congressional district, the Barnett Shale in Texas and the Fayetteville Shale in Arkansas led IPPED to conclude “that there is definite potential for growth in wealth, employment and housing” within Pennsylvania’s 10th congressional district, which includes many of the top producing counties. Core drilling counties fared better than noncore drilling counties, but the economic benefits of the Marcellus spilled over throughout the region.

November 5, 2012

Researchers: Marcellus Helped Region Weather Recession

The growth of the natural gas industry in the heart of Pennsylvania’s eastern Marcellus Shale helped the area avoid the worst of the 2008 recession, and the positive effects have only just begun, according to a study issued by the Institute for Public Policy and Economic Development (IPPED).

October 30, 2012
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