Natural gas production in the Lower 48 states declined by 0.2% to 72.54 Bcf/d in December from November’s record 72.68 Bcf/d. It was the first monthly decline in Lower 48 production since February 2011, according to figures released by the Energy Information Administration (EIA).
February
Articles from February
EIA: U.S. Gas Production Slips in December
Natural gas production in the Lower 48 states declined by 0.2% to 72.54 Bcf/d in December from November’s record 72.68 Bcf/d. It was the first monthly decline in Lower 48 production since February 2011, according to figures released by the Energy Information Administration (EIA).
Weir Makes Play for Another Unconventional Drilling Provider
UK-based Weir Group plc this week struck a $176 million deal to acquire Dallas-based Novatech LLC, its second oilfield services purchase in two months. The transaction would give Weir an even bigger footprint in North America’s onshore.
SRBC Schedules Public Hearing, Will Reconsider Water Permits
The Susquehanna River Basin Commission (SRBC) said Monday it would hold a public hearing in February as it reconsiders about 20 water withdrawal permits it approved for Marcellus Shale gas drillers during a raucous meeting in December.
Futures Inch Higher, but Market Fundamentals Remain Bleak
The freefall in natural gas futures prices of the last few weeks received a small reprieve on Friday after the February contract managed to eke out a 2.1-cent gain to close the week at $2.343. However, market bulls might as well cool their heels as Friday’s close marked a 32.7-cent decline from the previous week’s close.
Nearly All Points Avoid Loss Column Again
Not even forecasts of next-day weather staying relatively moderate, combined with Monday’s drop of 5.1 cents by February futures, were able to knock continued general firmness out of the cash market Tuesday. Somehow the widely acknowledged fact of abundant storage remaining available is having little impact on continued purchases of spot gas.
Chesapeake’s Latest Deal Secures Needed Funding
Chesapeake Energy Corp., one of the biggest deal makers in the U.S. energy patch, has secured more funding for its onshore exploration and production program after it agreed to sell its natural gas pipeline gathering system in the Marcellus Shale to an affiliate for $865 million, analysts said.
No Pennsylvania Impact Fee This Year
Pennsylvania will end another year without an impact fee on natural gas drilling in the Marcellus and Utica shales.
Penn Virginia to Explore Eagle Ford With Undisclosed Major
Penn Virginia Corp. said Tuesday it has agreed to explore a portion of the Eagle Ford Shale of South Texas with an undisclosed “major oil and gas company.”
Westmont to Reopen Orphaned Oil Wells
Westmont Resources Inc. said Thursday it has purchased 3,400 total leasehold acres and 120 existing oil wells in the Marcellus Shale, part of the company’s goal to produce more than 3,500 bbl of oil per month by the end of 2011.