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Spot Prices in 2013 Return to ’09-’11 Levels, Says EIA

Spot prices for U.S. natural gas at most major trading points increased on average 40-60% in the first half of 2013 (1H2013) from a year earlier as demand eclipsed supply, the U.S. Energy Information Administration (EIA) reported last week.

July 29, 2013

California Regulators Face More Scrutiny on Pipe Safety

California regulators are facing increased scrutiny on their response to stepping up natural gas pipeline safety oversight following a 2010 explosion in San Bruno on a Pacific Gas and Electric Co. (PG&E) line.

July 29, 2013

Goodrich Growing TMS, Cutting Costs

Goodrich Petroleum Corp. is buying a 66.7% working interest in producing assets and about 277,000 gross acres in the Tuscaloosa Marine Shale (TMS) for $26.7 million as it continues to build scale in the play and improve its drilling performance.

July 29, 2013

EQT Achieves 1 Bcfe/d in Appalachian Output

Hours ahead of EQT Corp.’s second quarter conference call on Thursday, the company tied into sales its first Utica Shale well, the CEO said.

July 29, 2013

ERCOT Preparing for More Gas-Fired Power

Last year, natural gas-fueled plants accounted for 57% of the generating capacity in the Electric Reliability Council of Texas (ERCOT) and more than 44% of energy use. As the reliance on gas-fired power grows, ERCOT is working with other organizations to protect against and prepare for a large-scale system-wide blackout.

July 29, 2013

EPA Studies Correlation Between Disposal Wells, Earthquakes

A wide variety of outcomes are possible when contemplating the likelihood that an oil or natural gas injection well could increase the chance of seismic activity, including the possibility of not operating the well at all, according to a draft report by a U.S. Environmental Protection Agency’s (EPA) workgroup.

July 29, 2013

Chesapeake Gets Ratings Boost from S&P

Standard & Poor’s Ratings Services (S&P) on Friday revised its outlook for Chesapeake Energy Corp. to “stable” from “negative,” citing the new CEO as part of the reason. Former Anadarko Petroleum Corp. executive Doug Lawler took over in June (see NGI, May 27).

July 29, 2013

Gas Storage Capacity Grew by 2%, EIA Says

The capacity of underground natural gas storage facilities increased by about 2% from November 2011 to November 2012, the Energy Information Administration (EIA) said in a new report. The increase was seen in both demonstrated maximum and design capacities.

July 29, 2013

World Energy Use to Increase 56% by 2040, NatGas by 64%

World energy consumption will increase by 56% between 2010 and 2040, driven largely by increased demand from developing countries, according to the International Energy Outlook 2013 (IEO2013), which was released last Thursday by the Energy Information Administration (EIA). It sees global natural gas demand increasing by 64%.

July 29, 2013

Record Production for Range in 2Q, Earns $144M

Bolstered by record production, especially in the southwest Pennsylvania portion of the Marcellus Shale, and revisions to its estimated ultimate recovery (EUR) curves, Range Resources Corp. reported net earnings of nearly $144 million for the second quarter of 2013.

July 29, 2013