Gross withdrawals of natural gas increased 1.1% (0.72 Bcf/d) in the Lower 48 states during September, according to the latest government figures. All areas except for the federal offshore Gulf of Mexico (GOM) produced more to make for the seventh monthly gain in a row, according to the Energy Information Administration (EIA).
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Pressure pumping services in North American unconventional basins appear to be on the cusp of oversupply, Schlumberger Ltd. executives said Friday.
November natural gas retreated Friday as traders saw the market in an unstable technical environment and rig count figures showed another double-digit increase in gas drilling. At the close November had careened lower by 11.7 cents to $3.481 and December had fallen 9.6 cents to $3.820. November crude oil rose 39 cents to $82.98/bbl.
The Pennsylvania Department of Environmental Protection (DEP) said Tuesday it is reorganizing, a move designed to assist regulators with a burgeoning workload from the state’s booming oil and gas industry in the Marcellus Shale.
October futures eased fractionally in active trading Thursday as the government released figures showing a lower-than-expected increase in inventories. The ensuing price rise, however, was seized upon by eager sellers and prices retreated.
Hoping to more accurately address the cost of development on local communities, a Pennsylvania Senate committee made major changes to a proposed impact fee on Marcellus Shale wells on Tuesday.
Maryland intends to sue Chesapeake Energy Corp. over an April 19 Marcellus Shale well blowout and the release of thousands of gallons of hydraulic fracturing (hydrofracking) fluid into a tributary of the Susquehanna River, according to the state’s attorney general, Douglas F. Gansler.