electricity

A survey of world energy resources conducted by the World Energy Council (WEC) said the rise of shale gas in North America had turned the continent “upside down,” adding that it was one of several principal drivers to shape global energy supply and use over the past 20 years.

Range Resources Corp. announced another record high for quarterly production — this time achieving 960 MMcfe/d for 3Q2013– thanks in large part to the continuing success of its drilling program in the Marcellus Shale.

Natural gas prices for Friday physical delivery on average fell 9 cents in Thursday’s trading. It was a tale of two coasts as West Coast points suffered hefty double-digit losses within a weak power environment and a nominal weather outlook. East Coast locations were mixed with prices a few pennies on either side of unchanged.

A New Jersey Board of Public Utilities (BPU) plan to have ratepayers subsidize the cost to build new natural gas-fired power plants has been ruled unconstitutional by a judge in the U.S. District Court for the District of New Jersey.

A proposed rulemaking that would codify procedures used to implement, collect and distribute the impact fees collected from unconventional natural gas drillers has been issued for comment by thePennsylvania Public Utility Commission(PUC). Comments are being accepted for 30 days beginning Thursday (Oct. 17). The PUC voted to move themeasureby a vote of 4-0, with CommissionerPamela A. Witmerabstaining. The proposed rulemaking addresses unconventional gas well fees; wells subject to fees; producer reporting; fee calculation; and fee collection and distribution. Not addressed in the rulemaking are provisions of Chapter 33, which govern local ordinances that impose conditions, rules or limits on oil or gas operations. The PUC is responsible for implementing Chapters 23 and 33 ofAct 13 of 2012, the Unconventional Gas Well Impact Fee Act, signed into law in February 2012 byGov. Tom Corbett.

General Motors Co. (GM) CEO Dan Akerson said Wednesday that GM plans to introduce next year a bi-fuel natural gas/gasoline version of its Impala passenger car offering a driving range of up to 500 miles.

A lawsuit involving coalbed methane (CBM) development that dates back more than a decade will get its day in court beginning Wednesday when a federal trial gets underway in Billings, MT to determine if Wyoming should be held liable for alleged water losses in tributaries of the Yellowstone River.

Houston-based Plains All American Pipeline LP’s recently formed general partner, Plains GP Holdings, on Wednesday raised $2.82 billion in the nation’s largest initial public offering (IPO) so far this year. The IPO offered 128 million shares at $22/share, and after the first day of trading the closing price settled at the offered amount.

Offshore drilling contractor Noble Corp. late Wednesday reported its third consecutive quarter of higher-than-expected profits on higher dayrates and lower downtime for its rigs.