What does the largest North American natural gas producer do when prices aren’t going its way? Move rigs to liquids plays, ExxonMobil investor relations chief David Rosenthal said Tuesday.
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Gastar 2012 Capex Will Be Marcellus-Heavy
Gastar Exploration Ltd. will devote $100.5 million of its $134.2 million 2012 capital budget to drilling and completion costs, with 89% of that amount ($88.9 million) to be spent on activities in the liquids-rich window of the Marcellus Shale, the company said Tuesday.
Industry Seeks Balance on Pennsylvania Impact Fee, Regulations
As Pennsylvania legislators continue to work out a compromise on natural gas drilling impact fee legislation, the Marcellus Shale Coalition (MSC) on Friday urged leaders in Harrisburg “to avoid the temptation of crafting policy in a vacuum and instead design a fee and regulatory structure that not only provides heightened safeguards to the public, but also a competitive investment climate.”
Nearly All Points Avoid Loss Column Again
Not even forecasts of next-day weather staying relatively moderate, combined with Monday’s drop of 5.1 cents by February futures, were able to knock continued general firmness out of the cash market Tuesday. Somehow the widely acknowledged fact of abundant storage remaining available is having little impact on continued purchases of spot gas.
Chesapeake Says Low Gas Prices May Alter 2012 Output
Two transactions completed late in 2011 have helped Chesapeake Energy Corp. achieve “substantial progress” toward a goal of reducing debt by 25% by the end of this year, the company said Tuesday.
Morgantown Tables Frack Ban Again to Make ‘Political Statement’
For the second time since its ordinance banning hydraulic fracturing was ruled illegal, the Morgantown City Council voted to table a decision to repeal the ban in order to make a “political statement” against the West Virginia state government.
Recent Lows Seen Vulnerable; Futures Mixed
January natural gas drifted lower and February inched higher in uninspired trading Tuesday such that even options expiration could not whet trader appetites. Traders noted no attempts to either attack or defend nearby options strikes, and futures prices settled within fractions of Friday’s close. At the closing bell January had slipped 0.2 cent to $3.112 and February had added 0.3 cent to $3.150. February crude oil rose $1.66 to $101.34/bbl.
Survey: Shale Development Gaining Popularity
Tapping shale natural gas reserves — even when accounting for the challenges of hydraulic fracturing — is worth the risk, a majority of those polled told a recent survey. And eight out of 10 respondents said they link natural gas development with job creation and economic revival.
Survey: Shale Familiarity Breeds Acceptance
Tapping shale natural gas reserves — even when accounting for the challenges of hydraulic fracturing — is worth the risk, a majority of those polled told a recent survey. And eight out of 10 respondents said they link natural gas development with job creation and economic revival.
Texas Regulators Adopt Barnett Shale Air Rules
Texas regulators Wednesday approved new air emissions rules affecting producers in the Barnett Shale of North Texas. Industry groups have said the rules are too strict, while environmentalists said they don’t go far enough.