Six energy prognosticators over the past week have raised their outlooks for domestic natural gas prices this year, with one indicating that $4.50/MMBtu this summer is “on the table” based on a colder-than-expected end to winter and slowing production in major onshore basins.
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Customers Adding Fewer Rigs Than Expected, Says Schlumberger CEO
North American oilfield services activity in the first three months of this year has been less promising than expected, according to Schlumberger Ltd. CEO Paal Kibsgaard.
USGS: No Groundwater Contamination From Fayetteville Wells
The U.S. Geological Survey (USGS) said domestic water wells in two Arkansas counties showed no evidence of contamination from oil and natural gas drilling in the Fayetteville Shale, but it cautioned that additional testing would be necessary to provide an adequate comparative analysis.
University Pro-Fracking Paper Nixed on Conflict of Interest
The University of Texas at Austin has pulled a 2012 UT Energy Institute report that was supportive of hydraulic fracturing and shale gas development following a review of the study by an independent panel that found researchers failed to disclose a conflict of interest.
Carrizo-Private Equity JV Targeting Utica Shale
A newly formed joint venture (JV) of Carrizo Oil & Gas Inc. and Avista Capital Partners has closed its first acquisition: 15,000 net acres in the Utica Shale in eastern Ohio and northwestern Pennsylvania at an average cost of less than $1,500/acre, Carrizo said. The deal is the second announcement from the company in the same week as it strengthens its finances to plow ahead in the shales.
Watchdog Faults Fayetteville Shale Oversight
A new report that slams the natural gas industry and state regulators for “widespread violations of Arkansas clean water standards” in the Fayetteville Shale is based on old data and overlooks the fact that some of the report’s recommendations already have been implemented, state regulators told NGI’s Shale Daily.
EPA Head Sees ‘Incredible Potential’ of Natural Gas
There is evidence that hydraulic fracturing (fracking) can affect aquifers and water supplies, according to Environmental Protection Agency (EPA) Administrator Lisa Jackson, but she is “not aware of any proven case where the fracking process itself has affected water.”
EPA Head Sees ‘Incredible Potential’ of Natural Gas
There is evidence that hydraulic fracturing (fracking) can affect aquifers and water supplies, according to Environmental Protection Agency (EPA) Administrator Lisa Jackson, but she is “not aware of any proven case where the fracking process itself has affected water.”
Experts Caution Against ‘One Size Fits All’ Shale Regulation
Natural gas experts say they believe the Marcellus Shale play can be developed in a way that benefits both industry and area residents, but they voiced concern about possible federal regulation of hydraulic fracturing (fracking) that they said could be based on situations unique to Marcellus.
Three Workers Hurt by Fire at Pennsylvania Drill Site
Three workers were burned when a fire broke out at a Chesapeake Energy Corp. drilling site in Washington County, PA, on Wednesday night.