Flood

June’s flood in and around the Bakken Shale play in North Dakota has been a setback for all the producers in the area, but it may not be as devastating as earlier reports indicated (see Daily GPI, June 28), MDU Resources Group Inc. senior executives said Tuesday during a second quarter earnings conference call.

Interior Secretary Ken Salazar Tuesday said the department is weighing how it will move forward with a policy requiring producers to disclose the fluids associated with hydraulic fracturing (fracking) on public lands. Interior’s Bureau of Land Management (BLM) oversees 250 million acres, which contains 11% of the nation’s natural gas supply.

Marketers reported an overall 4Q2009 decrease of less than 1% from the previous year’s period, but a flood of of production from shale plays could influence the market’s next move. read more

Predictions earlier this year of a flood of liquefied natural gas (LNG) that would hit U.S. shores apparently could have been uttered by Chicken Little, at least if Barclays Capital analysts are right about their expectation of relatively modest imports during the second half of 2009.

Predictions earlier this year of a flood of liquefied natural gas (LNG) that would hit U.S. shores apparently could have been uttered by Chicken Little, at least if Barclays Capital analysts are right about their expectation of relatively modest imports during the second half of 2009.

Friedman, Billings, Ramsey & Co. Inc. (FBR) has trimmed its forecast for U.S. natural gas prices for the next two years to reflect the “impending flood of shale gas.”

With “huge” new supplies of natural gas expected to flood the North American market by 2009, Anadarko Petroleum Corp. increased its hedging position to protect its future cash flow.

With “huge” new supplies of natural gas expected to flood the North American market by 2009, Anadarko Petroleum Corp. is increasing its hedging position to protect its future cash flow.

The expected flood of regasified LNG entering the Gulf Coast region in the next few years has prompted plans for another high-deliverability gas storage project. Black Bayou Storage LLC, which is owned by three privately owned companies, is holding a binding open season for service at a planned 11 Bcf salt dome storage facility in Cameron Parish, LA.