Dozens of oil and gas companies have been looking for ways to move into the fast-growing Canadian oil sands business. Calgary-based Talisman Energy Inc. isn’t one of them. The contrarian hopes to auction off its oil sands holdings by the end of the year to concentrate on its natural gas reserves and growing Canadian gas pipeline system.
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Talisman Eschews Oil Sands for Gas Development
Dozens of oil and gas companies have been looking for ways to move into the fast-growing Canadian oil sands business. Calgary-based Talisman Energy Inc. isn’t one of them. The contrarian hopes to auction off its oil sands holdings by the end of the year to concentrate on its natural gas reserves and growing Canadian gas pipeline system.
Cheniere Gulf Coast LNG Projects Clear Final Environmental Hurdle
FERC is cranking out its reviews of liquefied natural gas (LNG) projects at a fast clip. The agency on Friday gave final environmental nods to two Cheniere Energy Inc. LNG terminal projects and associated pipeline facilities along the Gulf Coast, after issuing favorable final environmental reviews for three LNG projects just a week ago — Dominion Cove Point LP’s proposed terminal expansion in Maryland, BP Energy affiliate Crown Landing LLC’s terminal project in New Jersey and Sempra Energy’s terminal project in Port Arthur, TX (see Daily GPI, May 1).
EPAct Makes FERC ‘Regulator with Teeth,’ Attorney Says
Although it’s still unclear how far or how fast FERC will take its new enforcement authority, the Commission clearly has become a “regulator with teeth” under broadened powers given to it by the Energy Policy Act of 2005 (EPAct), according to a Washington, DC-based attorney who analyzed the new law and has experience dealing with Securities and Exchange Commission (SEC) enforcement, from which FERC’s newfound authority is modeled.
SoCalGas Plans to Expand Capacity to High Desert Area
Faced with a fast growing residential/commercial area in the greater high desert Yucca Valley area about 100 miles east of Los Angeles, Sempra Energy’s Southern California Gas Co. is planning to increase its transmission pipeline capacity into the relatively remote area north of Palm Springs, a company official verified Tuesday. Large loads at the Twentynine Palms Marine Corps Base to the east and growing residential and commercial uses of gas in Yucca Valley prompted the plans.
Rita Triggers Ultra Volatility in Cash Market, $6 Trading Ranges in Northeast
With Rita fast approaching Gulf of Mexico infrastructure, gas production shut-ins rising rapidly and many traders in transit, the cash market was extremely volatile and illiquid on Thursday. Trading appeared to completely dry up at many locations. Some Northeast averages were more than $5 away from others. Most western locations fell 25-60 cents.
XTO’s Chairman Sees Possible Further Upside to Oil, Gas Prices
Fast-growing XTO Energy Tuesday reported earnings for the first quarter up 122% over the same quarter last year, but that’s not all she wrote, according to Chairman Bob R. Simpson. He puts a 30% chance on oil prices going to $90 a barrel which would put natural gas in the neighborhood of $10/MMBtu, and increase XTO’s earnings by…?
XTO Sees 21-23% Output Growth With Barnett Shale Acquisition
XTO Energy Inc., the fast-growing independent that began carving a niche in the Barnett Shale of North Texas three years ago, increased its natural gas-rich production forecast this year by 3% after announcing the purchase of a neighboring producer, privately held Antero Resources Corp., for $685 million.
XTO Expects 21-23% Output Growth Including Barnett Shale Acquisition
XTO Energy Inc., the fast-growing independent that began carving a niche in the Barnett Shale of North Texas three years ago, increased its natural gas-rich production forecast this year by 3% after announcing the purchase of a neighboring producer, privately held Antero Resources Corp., for $685 million.
Vintage’s Gas Output Up 36%, Devon Impacted by Hurricane Ivan
Devon Energy Corp.’s production growth is expected to remain on a fast track through the rest of the year, but its oil and natural gas output hit a slight bump when Hurricane Ivan crossed the Gulf of Mexico. Its production dropped 2% in the third quarter compared to the same period last year.