Experiencing

SandRidge Energy Inc.’s transition from a natural gas producer to an oil explorer appears to be paying off, with the company’s Mississippian Lime operations experiencing success and its bottom line improving, but the market seems unconvinced.

SandRidge Energy Inc.’s transition from a natural gas producer to an oil explorer appears to be paying off, with the company’s Mississippian Lime operations experiencing success and its bottom line improving, but the market seems unconvinced.

Oneok Inc. and its pipeline partnership currently are experiencing more than 90,000 b/d of ethane rejection across the natural gas liquids (NGL) pipeline systems, a level expected to be in place “for much of the year,” a top executive said last week.

Oneok Inc. and its pipeline partnership currently are experiencing more than 90,000 b/d of ethane rejection across the natural gas liquids (NGL) pipeline systems, a level expected to be in place “for much of the year,” a top executive said Tuesday.

Physical gas prices Tuesday overall on average added about 6 cents with nearly all points experiencing gains. Midwest points were firm as an exiting storm still made itself felt in the form of 30 mph gusts and typically constrained points in the Northeast also made outsized gains. The expiring March futures contract exited on a modest note, and at the end of trading March had risen 1.3 cents to $3.427 and April had fallen 1.4 cents to $3.456. April crude oil lost 48 cents to $92.63/bbl.

Speaking at the City Club of Cleveland last Friday, the head of the American Petroleum Institute (API) said the state of Ohio is experiencing an energy “rebirth” as a result of the surge in shale gas development and that it could be a game changer for jobs and economic growth in the state.

Producers active in Louisiana — where they enjoy an exemption from state severance taxes on production from horizontal wells — are increasingly eschewing conventional drilling to take advantage of the tax break, and that’s showing up in state revenue figures, according to a recent forecast from the state’s Legislative Fiscal Office. However, industry advocates advise: look at all the other taxes producers are paying.

Ruby Pipeline flows have been cut to zero until further notice as Ruby declared a force majeure after experiencing a fire and some damage Saturday in its block valve 6 yard in a remote area of southeastern Cache County, UT. A segment of its pipeline around the block valve 6 was shut in and isolated to allow damage assessment and repairs. Ruby said Sunday it is unable to receive or deliver gas. Based on an inspection of the fire damage, which occurred at a gas line to auxiliary equipment, the damage will require more repairs to the valve, valve operator and auxiliary equipment than initially thought, the pipeline added. A road to the snow-covered site has been plowed and repair crews are on site.

Although the force majeure declared Tuesday is still in effect, Stingray said Thursday it is no longer experiencing liquids takeaway issues. See the bulletin board for a list of points that are being reopened Thursday and Friday for receipts and/or deliveries, along with conditions that must be satisfied for customers to use those points.