Pennsylvania should impose a temporary moratorium on leasing additional forest land for new natural gas development until a comprehensive environmental and community impact assessment can be completed, a report released last Tuesday argues. Such a moratorium should not affect existing leases, though, said the Pennsylvania Environmental Council (PEC).
Forest
Articles from Forest
Pennsylvania Group: All Can Benefit From the Marcellus
Pennsylvania should impose a temporary moratorium on leasing additional forest land for new natural gas development until a comprehensive environmental and community impact assessment can be completed, a report released Tuesday argues. Such a moratorium should not affect existing leases, though, said the Pennsylvania Environmental Council (PEC).
SandRidge Buys Forest Oil’s Permian Basin Assets
SandRidge Energy Inc. agreed to pay Forest Oil Corp. $800 million to acquire some Permian Basin natural gas and oil assets, the Oklahoma City-based producer said Monday.
Chesapeake Grabs More Fayetteville Acreage in Arkansas
In the largest mineral rights lease ever in Arkansas, more than 10,000 acres of the state’s forest land — in a part of the Fayetteville Shale — has been opened to natural gas drilling after the Arkansas Game & Fish Commission approved a five-year, $29.5 million lease with Chesapeake Energy Corp.
Transportation Notes
Pacific Gas & Electric issued a customer-specific Stage 2 high-inventory OFO for Tuesday, but had no OFO scheduled for Wednesday.
BLM Eastern Lease Sale Auctions 56,417 acres in 3 States
The Bureau of Land Management — Eastern States leased 155 parcels of land in the Ouachita and Ozark National Forests in Arkansas, the Kisatchie National Forest in Louisiana, and the Bienville and DeSoto National Forests in Mississippi, bringing in $6.4 million in the latest competitive auction on March 24 in Springfield, VA.
Futures Follow Crude Lower as Gas Storage Continues to Bloat
Borrowing from the old question about whether a tree falling in a deserted forest actually makes a sound, gas futures market observers wondered Thursday whether the 44 Bcf storage injection reported by the Energy Information Administration (EIA) actually had any market impact because no one seemed to notice its release.
Futures Follow Crude Lower as Gas Storage Continues to Bloat
Borrowing from the old question about whether a tree falling in a deserted forest actually makes a sound, gas futures market observers wondered Thursday whether the 44 Bcf storage injection reported by the Energy Information Administration (EIA) actually had any market impact because no one seemed to notice its release.
Transportation Notes
Because forest fires are currently active around TransCanada’s mainline Compressor Station 60 in northern Ontario, as a precaution the pipeline will not operate the Station 60 units until the situation improves. TransCanada said it does not anticipate the need for transportation restrictions unless changes in operational conditions or nomination levels require them.
Tumbling Prices Bring Bears Out of Forest
Fulfilling most market watchers’ expectations, natural gas futures continued lower Monday as weakness in the early morning over-the-counter market translated into a gap lower open when the regular open-outcry session reopened at 9:30 a.m. (EDT). The September contract was the hardest hit, tumbling 16.2 cents to close at $2.544. A hefty estimated volume of 80,799 lent credence to the price move.