Expect

The months that traditionally see the most tropical storm activity are still to come, but energy interests in the Gulf of Mexico (GOM) may be breathing a bit easier after Weather Services International (WSI) again lowered its Atlantic hurricane season projections Thursday.

With solid second quarter results in the books, Encana Corp. is taking a look at its entire North American portfolio and has begun putting a “new emphasis on our portfolio of emerging liquids plays,” CEO Doug Suttles told investors on Wednesday.

Crosstex Energy LP has completed two projects aimed at getting shale oil and condensate to higher paying markets.

Maintenance work on two platforms in the Gulf of Mexico (GOM) and on a project shutting in some crude oil in Alaska may halt temporarily the growth in U.S. crude oil supplies, but onshore volumes should help alleviate the shortfall, according to energy analytics provider Genscape Inc.

Forecasters at Colorado State University (CSU) expect the 2013 Atlantic hurricane season, which officially begins June 1, will have more activity than the median 1981-2010 season, with an estimated 18 named storms, including nine hurricanes, four of them major (Category 3 or higher) — significantly higher numbers than CSU predicted prior to the 2012 hurricane season (see Daily GPI, April 16, 2012).

Unlike many producers today, Vanguard Natural Resources LLC is not necessarily focused on oil and natural gas liquids (NGL)-rich acquisitions. The company has done recent deals for both liquids and dry gas assets, instead focusing on margin and how the properties fit into its structure, CEO Scott Smith said Monday.

The promise of production from seven “exceptional” wells brought online in January in Pennsylvania’s Marcellus Shale and continuing additions to its pipeline business paint an expanding future for National Fuel Gas Co. (NFG) in 2013, CEO Dave Smith said during a conference call with analysts.

PetroQuest Energy Inc. said Monday it has closed on the sale of its assets in the Fayetteville Shale for about $9.2 million as it shifts its focus to production of natural gas liquids (NGL) from other plays, including the Woodford Shale and the Mississippian Lime formation.

Natural gas shale plays have become “relatively well delineated,” which is sending production costs south in many onshore basins, a trend that should continue as adequate infrastructure opens the door to more opportunities, according to Credit Suisse’s energy team.