The U.S. Geological Survey (USGS) said Friday it estimates 1.4 Tcf of conventional natural gas resources are technically recoverable in formations west of Alaska’s National Petroleum Reserve (NPR-A), the first time such an assessment has been released for the area. Despite the North Slope’s abundant petroleum resources, the region is not believed to contain any…
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Maintenance-Related Production Cuts Spark Early Natural Gas Futures Rally
A sharp drop in the latest production estimates, attributed to springtime maintenance, helped lift natural gas futures several cents higher in early trading Tuesday. The June Nymex futures contract was up 4.1 cents to $2.662/MMBtu at around 8:30 a.m. ET.

Big Seven in Lower 48 to Near 78 Bcf/d Next Month, EIA Says
Production from the seven most prolific U.S. onshore unconventional plays in March will continue its seemingly endless upward swing, with natural gas output forecast to reach 77.97 Bcf/d and oil an estimated 8.40 million b/d, according to the U.S. Energy Information Administration (EIA).

EIA Expects 75 Bcf/d-Plus Out of Big Seven Plays in December
Natural gas and oil production from the seven most prolific U.S. onshore unconventional plays in December will continue a two-year upward progression, with gas output expected to reach 75.08 Bcf/d and oil an estimated 7.94 b/d, according to the U.S. Energy Information Administration (EIA).
Brief — Linn Sale
Houston-based Linn Energy Inc., which is revamping its exploration and midstreambusinesses, has agreed to sell its estimated 179,000 net acres in the Oklahoma waterflood and Texas Panhandle to an undisclosed buyer for $122 million. Third quarter production for the properties was about 5,200 boe/d, with proved developed reserves of 22.8 million boe. Annualized field level cash flow was estimated at $21 million, while annual general and administrative expenses for the combined properties is around $4-6 million. The sale is expected to close in early 2018 with an effective date of Oct. 1. Jefferies LLC acted as financial adviser for the Texas Panhandle properties, while Kirkland & Ellis LLP acted as legal counsel for both transactions.
January NatGas Near Even After Mixed Changes in Overnight Weather Data
January natural gas was set to open about a penny higher Friday at around $2.695, with some mixed changes overnight in the weather outlook not offering much inspiration for the bulls.
Consol Reports Strong 3Q Production in Preliminary Estimates
Consol Energy Inc. said Monday it produced between 99 and 103 Bcfe during the third quarter, according to preliminary estimates filed with the U.S. Securities and Exchange Commission (SEC) as part of its plans to spin off its remaining coal assets into a separate publicly traded company by year’s end.

Production From Big Seven Plays to Move Higher Again in June, EIA Says
In a continuation of a trend that began in January, natural gas and oil production from the nation’s seven most prolific unconventional plays will increase again in June, while the number of drilled but uncompleted (DUC) wells in the plays will also increase, according to data from the Energy Information Administration (EIA).
Revised Utica Assessment Says Questerre Holds 5.8 Tcf in Quebec
Questerre Energy Corp., which explores in Quebec’s Utica Shale within the St. Lawrence Lowlands, said independent engineers estimate that some of the company’s resources in the play are 30% larger than previously thought.
BP Pegs Macondo’s Total Costs Higher at $61.6B
The ultimate costs from the Macondo well blowout in the deepwater Gulf of Mexico six years ago, already considered the costliest environmental disaster in history, have reached $61.6 billion, BP plc said Thursday.