Expressed

A bipartisan coalition of senators has expressed concerns that the U.S. Environmental Protection Agency (EPA) is attempting to expand its definition of diesel fuels in the draft permitting guidance to gain more federal control over hydraulic fracturing (fracking).

Appalachian/Marcellus natural gas producers and distributors expressed their support — or said they did not oppose — Columbia Gas Transmission LLC’s proposed settlement aimed at a long-overdue modernization of its natural gas pipeline system, but the NiSource Inc. line’s proposal to recover its investment via a tracker-surcharge drew some critics.

Appalachian/Marcellus natural gas producers and distributors expressed their support — or said they did not oppose — Columbia Gas Transmission LLC’s proposed settlement aimed at a long-overdue modernization of its natural gas pipeline system, but the NiSource Inc. line’s proposal to recover its investment via a tracker-surcharge drew some critics.

Natural gas groups Tuesday expressed their support for the Obama administration’s new standards requiring automakers to increase the average fuel efficiency of new cars and light-duty trucks to 54.5 miles per gallon (mpg) by 2025, nearly double that of cars currently on the road.

Physical natural gas prices for weekend and Monday delivery overall fell on average 4 cents as traders expressed a reluctance to commit to a three-day purchase when other alternatives were available. Northeast and California points were especially hard hit. Futures prices took a dive as traders factored in little potential market disruption from Tropical Storm Isaac. September tumbled 10.0 cents to $2.702 and October shed 10.5 cents to $2.734. October crude oil skidded 12 cents to $96.15/bbl.

Facing an ongoing challenge of flaring up to almost a third of its associated natural gas supplies in the oil-rich Bakken Shale, North Dakota is considering a proposal to use mobile equipment to turn some of the flared supplies into much-needed fertilizer for the state’s agricultural industry. Another proposal calls for a $1 billion farmer-owned fertilizer plant using natural gas currently being flared.

In a campaign speech in Cincinnati, OH, President Obama expressed full support for the development of natural gas and acknowledged that “a lot of folks” in the industry are engaging in hydraulic fracturing (fracking) in a safe manner. He dismissed claims that his administration — namely the Interior Department and Environmental Protection Agency — is blocking oil and natural gas development.

In a campaign speech in Cincinnati, OH, President Obama expressed full support for the development of natural gas and acknowledged that “a lot of folks” in the industry are engaging in hydraulic fracturing (fracking) in a safe manner. He dismissed claims that his administration — namely the Interior Department and Environmental Protection Agency — is blocking oil and natural gas development.

Chesapeake Energy Corp.’s stock price jumped on Monday after the company secured a $3 billion term loan and CEO Aubrey McClendon expressed confidence in the company’s ability to complete planned property sales this year to bridge an estimated $10 billion funding gap. In addition, an estimated $1 billion volumetric production payment (VPP) in the Eagle Ford Shale has been sidelined in favor of more noncore asset sales.