Running counter to recent public and private sector analyses, mediocre results so far and complex geology have combined to cause an Alliance Bernstein (AB) analyst to question whether the Monterey Shale will live up to some of the hype surrounding its future prospects. Even with these reservations, high oil prices could push the play closer to its potential, the report conceded.
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California, Rockies Weakness Offset In Part by Futures Gain
Physical prices on average fell almost 4 cents Thursday as California locations along with the Rockies were especially hard hit. Some Northeast points managed to rise as constraints and curtailments limited flows.
Unprecedented Oil Output May Upend Markets, Says Harvard Researcher
Global oil production capacity increases, especially from unconventional U.S. oil, are accelerating so quickly that output could jump almost 20% by 2020, which could dramatically reduce and possibly collapse oil prices, according to an analysis by a Harvard Kennedy School researcher and former oil industry executive.
Eastern Points Pace Widespread Gains; Futures Fumble Post EIA Stats
Cash market prices rose on average about 7 cents overall Thursday with all but two points participating in the gains. Especially strong were Northeast points, but Great Lakes and Rockies locations participated in the rise as well. One of the two eastern market points showing a decline was affected by a pipeline leak in New York.
Poll Finds Ohio Voters Support Higher Taxes on Drillers
New taxes on companies drilling for natural gas and oil in Ohio have the support of a majority of the state’s voters — especially if the resulting revenue would be spent to cut income taxes for residents — according to the results of a recent Quinnipiac University poll.
Kasich Tax Proposal Finds Support in Ohio Poll
New taxes on companies drilling for natural gas and oil in Ohio have the support of a majority of the state’s voters — especially if the resulting revenue would be spent to cut income taxes for residents — according to the results of a recent Quinnipiac University poll.
Marcellus Producers Slowly Shifting Focus to Wet Gas Counties
Marcellus Shale natural gas production leaped to nearly 4 Bcf/d in just three years, and even though it remains the most economical gas play in Lower 48 states, producers already are moving rigs to more liquids-prone targets, according to Barclays Capital energy analysts.
Ultra-Deepwater Rigs ‘Essentially Sold Out’ Until 2014
Prospects for offshore drillers look promising over the next few years, especially for ultra-deepwater (UDW) rigs, which are “essentially sold out” until 2014, according to Raymond James & Associates Inc.
Unquenchable Thirst for Unconventional Resources Continues
Domestic upstream merger and acquisition (M&A) deals in 2011 set another record, fueled by unconventional oil and natural gas, a survey by PLS Inc. has found.
Comment Period Closes on EPA’s Proposed Emissions Rules
The Environmental Protection Agency (EPA) received more than 4,100 comments on its proposed standards to reduce air pollution from oil and natural gas drilling operations, especially operations employing hydraulic fracturing (fracking), by the time the public comment period closed Wednesday.