Capacity recontracting continued to weigh on Boardwalk Pipeline Partners LP revenues during the second quarter, but “every year, we seem to work out a little bit more of the problem,” CEO Stan Horton told analysts during an earnings conference call.
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Capacity Constraints in Marcellus Restrict Transco
Williams on Thursday restricted some natural gas pipeline services on its mainstay Transcontinental Gas Pipe Line LLC (aka Transco) because of capacity constraints in the Pennsylvania portion of the Marcellus Shale.
Antero NatGas Output Gaining; Comstock Sees Oil Rising
Two big U.S. independents took too different paths in the second quarter, one showing solid natural gas gains — mostly in the Marcellus Shale — while the other saw climbing oil and liquids output from from its onshore plays, and in particular, the Eagle Ford Shale.
National Oilwell Varco Sees Record Backlog
Backlog for capital equipment orders in National Oilwell Varco’s (NOV) rig technology segment was $13.95 billion at the end of 2Q2013, a record high, 8% higher than at the end of 1Q2013 and 24% higher than at the end of 2Q2012, the company said.
Heavy Metals Found Near Barnett NatGas Sites
A study of Barnett Shale region water wells has found elevated levels of heavy metals near natural gas extraction sites, but a link to drilling/production activity has not been determined and may not be, researchers from the University of Texas at Arlington (UTA) said.
JPMorgan Penalized for Gaming Power Markets
FERC last Tuesday approved a stipulation and consent agreement ordering JP Morgan Ventures Energy Corp. (JPMVEC) to pay $410 million in penalties and disgorge profits for allegedly manipulating power markets in California and the Midwest.
Massachusetts NatGas Leaks Said to Cost $1.5B Over 10 Years
In a litmus test on the costs to utility consumers for natural gas lost through leaky distribution pipeline systems and other sources, Massachusetts consumers paid as much as $1.5 billion more in the last decade just for the leaks, a congressional study has found.
Centrica Unit to Pay $1.03B for Hess Energy Marketing Business
Centrica plc North American subsidiary Direct Energy Business has agreed to acquire Hess’s New Jersey-based energy marketing business for $731 million in cash and approximately $300 million in net working capital, the UK utility said Tuesday.
FERC Calls for Review of Tetco Flows on Appalachian Gas Growth
FERC has called for a technical conference to address an intermittent reversal of natural gas flow on Texas Eastern Transmission’s (Tetco) system in Ohio caused by the increasing influx of rich Appalachian gas.
Chesapeake’s New Strategy: Live Within Cash Flow
Chesapeake Energy Corp.’s shareholders were cheering last week after the company delivered a solid quarterly earnings report and outlines of a new strategy to live within cash flow, ending its longstanding mode of capturing leasehold to focus on developing only the best plays in the portfolio.